On January 9, 2020, Driver Management Company LLC announced that it has delivered letter to First United Corporation Drector John McCullough. In the letter, Driver Management stated given the upcoming election contest at the Company’s rapidly approaching 2020 annual meeting of shareholders, it is important for shareholders to understand whether the board of directors and senior management of the Company are running the Company for the benefit of shareholders or for its customers. Driver Management stated that while it acknowledge that customer satisfaction can drive shareholder value, the Company has provided little evidence or analysis demonstrating that its customer-focused (or any other) initiatives are the product of rigorous cost/benefit analysis, or that their actual economic and operational benefits are measured and compared to forecasted results or that their potential shareholder value would compare favorably to the immediate shareholder value that could be obtained in a sale, particularly when taking into account the risks and uncertainties in realizing the expected results.