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The First Bancorp, Inc. operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers. It accepts various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans, such as mortgage loans to finance investments in real property, which includes retail spaces, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loans for financing working capital and/or capital investment. In addition, it offers commercial multifamily loans; residential real estate term and construction loans; loans to municipalities in Maine for capitalized expenditures, construction projects, or tax anticipation notes; home equity revolving and term loans; and personal lines of credit and amortizing loans for various purposes, such as autos, recreational vehicles, debt consolidation, personal expenses, or overdraft protection. Further, the company offers private banking, financial planning, investment management, and trust services to individuals, businesses, non-profit organizations, and municipalities, as well as brokerage, annuity, and various insurance products. It operates through full-service banking offices in Lincoln, Knox, Waldo, Penobscot, Hancock, and Washington counties in the Mid-Coast, Eastern, and Down East regions of Maine. The company was formerly known as First National Lincoln Corporation and changed its name to The First Bancorp, Inc. in April 2008. The First Bancorp, Inc. was founded in 1864 and is based in Damariscotta, Maine.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $95M | - | $34M | $35M | 12.1% | 17.7% | 27.2% |
| 2024 | $81M | - | $27M | $25M | 10.7% | -0.2% | -8.4% |
| 2023 | $81M | - | $30M | $34M | 12.1% | -13.3% | -24.3% |
| 2022 | $93M | - | $39M | $40M | 17.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 93.04 | 80.65 | 80.50 | 94.77 |
| Operating Revenue | - | 93.04 | 80.65 | 80.50 | 94.77 |
| Selling General And Administration | - | 24.38 | 23.90 | 26.62 | 29.72 |
| Interest Income | - | 93.04 | 128.17 | 148.83 | 160.27 |
| Interest Expense | - | 16.87 | 62.97 | 84.92 | 82.89 |
| Net Interest Income | - | 76.17 | 65.21 | 63.91 | 77.38 |
| Pretax Income | - | 47.39 | 35.70 | 32.58 | 41.94 |
| Tax Provision | - | 8.40 | 6.18 | 5.54 | 7.54 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Net Income From Continuing And Discontinued Operation | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Net Income From Continuing Operation Net Minority Interest | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Net Income | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Net Income Common Stockholders | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Net Income Including Noncontrolling Interests | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Normalized Income | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Diluted NI Availto Com Stockholders | - | 38.99 | 29.52 | 27.04 | 34.39 |
| Basic Average Shares | - | 10.95 | 11.01 | 11.04 | 11.09 |
| Diluted Average Shares | - | 11.05 | 11.10 | 11.13 | 11.20 |
| Reconciled Depreciation | - | 1.98 | 2.11 | 2.21 | 2.21 |
| Total Unusual Items | 0 | 0 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0 | 0 | - | - | - |
| Special Income Charges | 0 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | 0 | 0 | - | - | - |
| Gain On Sale Of Security | - | 0.01 | 0 | 0.24 | 0.05 |
| Depreciation Amortization Depletion Income Statement | - | 0.07 | 0.03 | 0.03 | 0.03 |
| Depreciation And Amortization In Income Statement | - | 0.07 | 0.03 | 0.03 | 0.03 |
| General And Administrative Expense | - | 24.38 | 23.90 | 26.62 | 29.72 |
| Salaries And Wages | - | 23.32 | 21.94 | 24.23 | 27 |
| Insurance And Claims | - | 1.07 | 1.96 | 2.39 | 2.72 |
| Amortization | - | 0.07 | 0.03 | 0.03 | 0.03 |
| Amortization Of Intangibles Income Statement | - | 0.07 | 0.03 | 0.03 | 0.03 |
| Occupancy And Equipment | - | 8.11 | 8.71 | 8.99 | 9.27 |
| Other Non Interest Expense | - | 11.34 | 11.12 | 11.51 | 11.91 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The First Bancorp, Inc.this co. | FNLC | $331M | 9.62↓ discount | 1.17 | 12.1% | - |
| USCB Financial Holdings, Inc. | USCB | $340M | 13.01 | 1.56 | 12.0% | - |
| Avidbank Holdings, Inc. | AVBH | $338M | -17.30 | 1.20 | -7.0% | - |
| Chemung Financial Corporation | CHMG | $336M | 22.26 | 1.32 | 5.9% | - |
| Waterstone Financial, Inc. | WSBF |
| - |
| - |
| - |
| - |
| - |
| $336M |
| 12.72 |
| 0.96 |
| 7.6% |
| - |
| Regional Management Corp. | RM | $331M | 7.45 | 0.89 | 11.9% | - |
| Norwood Financial Corp. | NWFL | $329M | 11.86 | 1.36 | 11.5% | - |
| LINKBANCORP, Inc. | LNKB | $326M | 9.72 | 1.06 | 10.9% | - |
| Timberland Bancorp, Inc. | TSBK | $323M | 11.08 | 1.23 | 11.1% | - |
| Peer Median | - | 11.47 | 1.22 | 11.0% | - | |