(Reuters) – Driver Administration Firm LLC, an activist investor centered on U.S. banks, renewed calls on Wednesday for First United Corp (FUNC.O), the holding firm for Maryland group financial institution First United Financial institution & Belief, to promote itself.

First United’s shares have traded at a major low cost to its regional banking friends, and the corporate has fallen behind its opponents in making new loans, in response to a letter Driver despatched to the financial institution’s board of administrators.

Administrators on the financial institution’s board have additionally caught round too lengthy, with a mean tenure of almost 15 years, Driver argued within the letter.

“Some members have been on the…



Source link