First United Corp. said in a regulatory filing that it is "disappointed" that activist U.S. banks investor Driver Management Co. LLC announced its intention to launch a "distracting and costly public campaign."
Driver Management had renewed its call for the Oakland, Md.-based company to sell itself.
First United said its senior management has held discussions with Driver Management in the past several months to hear and understand its perspectives.
The company added that its board is committed to building long-term shareholder value, and that no action on the part of shareholders is required at this time.
