UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
First United Corporation
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
33741H107
--------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2007
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
|X| Rule 13d-1(b)
|_| Rule 13d-1(c)
|_| Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 33741H107 13G Page 2 of 6 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only).
First United Bank & Trust
52-0312890
-------- -----------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |_|
-------- -----------------------------------------------------------------------
3 SEC Use Only
-------- -----------------------------------------------------------------------
4 Citizenship or Place of Organization: Maryland, USA
-------- -----------------------------------------------------------------------
Number of 5 Sole Voting Power: 372,813
Shares
Beneficially 6 Shared Voting Power: 3,000
Owned by
Each 7 Sole Dispositive Power: 366,241
Reporting
Person With 8 Shared Dispositive Power: 9,572
-------------------- ----- -----------------------------------------------------
9 Aggregate Amount Beneficially Owned by Each Reporting Person: 375,813
-------- -----------------------------------------------------------------------
10 Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
-------- -----------------------------------------------------------------------
11 Percent of Class Represented by Amount in Row (9): 6.1%
-------- -----------------------------------------------------------------------
12 Type of Reporting Person: BK
-------- -----------------------------------------------------------------------
Page 3 of 6 Pages
Item 1(a). Name of Issuer:
First United Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
19 South Second Street
Oakland, Maryland 21550
Item 2 (a). Name of Person Filing:
First United Bank & Trust
Item 2(b). Address of Principal Business Office or if none, Residence:
19 South Second Street
Oakland, Maryland 21550
Item 2(c). Citizenship
First United Bank & Trust is a trust company organized under
the laws of the State of Maryland
Item 2(d). Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e). CUSIP Number:
33741H107
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b) or (c), check whether the person filing is a:
(a) |_| Broker or dealer registered under section 15 of
the Act (15 U.S.C. 78o).
(b) |X| Bank as defined in section 3(a)(6) of the Act (15
U.S.C. 78c).
(c) |_| Insurance company as defined in section 3(a)(19)
of the Act (15 U.S.C. 78c).
(d)
|_| Investment company registered under section 8 of
the Investment Company Act of 1940 (15 U.S.C
80a-8).
Page 4 of 6 Pages
(e) |_| An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund in
accordance with ss.240.13d-1(b)(1)(ii)(F);
(g) |_| A parent holding company or control person in
accordance with ss. 240.13d-1(b)(1)(ii)(G);
(h) |_| A savings associations as defined in Section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C.
1813);
(i) |_| A church plan that is excluded from the definition
of an investment company under section 3(c)(14) of
the Investment Company Act of 1940 (15 U.S.C.
80a-3)
(j) |_| Group, in accordance with ss.240.13d-1(b)(1)
(ii)(J).
Item 4. Ownership:
Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer
identified in Item 1.
(a) Amount Beneficially Owned: 375,813 Shares
(b) Percent of Class: 6.1%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 372,813
(ii) Shared power to vote or to direct the vote: 3,000
(iii) Sole power to dispose or to direct the disposition
of: 366,241
(iv) Shared power to dispose or to direct the
disposition of: 9,572
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following |_|.
Page 5 of 6 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another
Person
The securities of First United Corporation listed in Item 4
are owned by the Trust Department of First United Bank & Trust
as Trustee for 171 fiduciary accounts. Pursuant to agency or
fiduciary agreements, beneficiaries or other persons may have
rights to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, some of the
securities held in these accounts.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
Not Applicable
Item 8. Identification and Classification of Members of Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and
are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
Page 6 of 6 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
accurate.
1/23/08
--------------------------------------------
(Date)
/s/ Eugene D. Helbig, Jr.
--------------------------------------------
(Signature)
Eugene D. Helbig, Jr. Senior Trust Officer
--------------------------------------------
(Name/Title)