Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

401(k) Profit Sharing Plan [Abstract]

Schedule of Net Funded Status

	Pension				Defined Benefit SERP
(in thousands)	2020		2019		2020		2019
Change in Benefit Obligation
Obligation at the beginning of the year	$	50,995	$	42,022	$	8,647	$	7,544
Service cost		225		265		135		120
Interest cost		1,624		1,748		236		272
Change in discount rate and mortality assumptions		5,971		7,981		—		—
Actuarial losses		1,157		979		862		994
Benefits paid		(2,074)		(2,000)		(266)		(283)
Obligation at the end of the year		57,898		50,995		9,614		8,647
Change in Plan Assets
Fair value at the beginning of the year		50,829		43,056		—		—
Actual return on plan assets		6,216		7,773		—		—
Employer contribution		1,000		2,000		266		283
Benefits paid		(2,074)		(2,000)		(266)		(283)
Fair value at the end of the year		55,971		50,829		—		—
(Unfunded)/Funded Status	$	(1,927)	$	(166)	$	(9,614)	$	(8,647)

Components of Net Periodic Pension Plan Cost

	Pension				Defined Benefit SERP
(in thousands)	2020		2019		2020		2019
Components of Net Pension Cost
Service cost	$	225	$	265	$	135	$	120
Interest cost		1,624		1,748		236		272
Expected return on assets		(3,548)		(3,055)		—		—
Amortization of recognized loss		1,433		1,077		188		116
Amortization of prior service cost		—		—		(3)		(3)
Net pension (income)/expense in employee benefits	$	(266)	$	35	$	556	$	505
Weighted Average Assumptions used to ‎  determine benefit obligations:
Discount rate for benefit obligations		2.50%		3.25%		2.52%		3.14%
Discount rate for net pension cost		3.25%		4.25%		—		—
Expected long-term return on assets		7.00%		7.00%		—		—
Rate of compensation increase		3.00%		3.00%		3.00%		3.00%
Mortality tables		PRI-2012 White Collar		RP-2014		PRI-2012		RP-2014

Schedule of Target Asset Allocations

Asset Class	Normalized ‎Target	Range
Cash	4%	0% - 20%
Fixed Income	39%	30% - 50%
Equities	57%	45% - 65%

Actual Plan Asset Allocations

December 31, 2020				Fair Value Hierarchy
(Dollars in thousands)	Assets at ‎Fair Value		% of ‎Portfolio	Level 1		Level 2
Cash and cash equivalents	$	2,312	4.1%	$	2,312	$	—
Fixed income securities:
U.S. Government and Agencies		298	0.6%		—		298
Taxable municipal bonds and notes		4,215	7.5%		—		4,215
Corporate bonds and notes		10,681	19.1%		—		10,681
Preferred stock		973	1.7%		—		973
Fixed income mutual funds		6,256	11.2%		6,256		—
Total fixed income		22,423	40.1%		6,256		16,167
Equities:
Large Cap		24,886	44.5%		24,886		—
Mid Cap		1,511	2.7%		1,511		—
Small Cap		477	0.8%		477		—
International		4,362	7.8%		4,362		—
Total equities		31,236	55.8%		31,236		—
Total market value	$	55,971	100.0%	$	39,804	$	16,167
Note: The Large cap equities includes 194,124 shares of First United Corporation common stock
December 31, 2019				Fair Value Hierarchy
(Dollars in thousands)	Assets at ‎Fair Value		% of ‎Portfolio	Level 1		Level 2
Cash and cash equivalents	$	247	0.5%		247	$	—
Fixed income securities:
U.S. Government and Agencies		1,904	3.7%		—		1,904
Taxable municipal bonds and notes		4,555	8.9%		—		4,555
Corporate bonds and notes		9,588	18.9%		—		9,588
Preferred stock		657	1.3%		—		657
Fixed income mutual funds		6,441	12.7%		6,441		—
Total fixed income		23,145	45.5%		6,441		16,704
Equities:
Large Cap		21,460	42.2%		21,460		—
Mid Cap		1,660	3.3%		1,660		—
Small Cap		1,009	2.0%		1,009		—
International		3,308	6.5%		3,308		—
Total equities		27,437	54.0%		27,437		—
Total market value	$	50,829	100.0%	$	34,125	$	16,704

Expected Future Benefit Payments

(In thousands)	Pension ‎Plan		Defined ‎Benefit ‎SERP
2021	$	2,117	$	334
2022		2,156		336
2023		2,296		336
2024		2,402		336
2025		2,464		336
2026-2030		13,351		2,671

Schedule of Amounts that Will Be Amortized from Other Comprehensive Loss

(In thousands)	Pension		Defined ‎Benefit ‎SERP
Prior service costs	$	—	$	(2)
Net actuarial loss		1,510		302
	$	1,510	$	300