Welcome to our dedicated page for First Bancorp news (Ticker: FNLC), a resource for investors and traders seeking the latest updates and insights on First Bancorp stock.
First Bancorp Inc (FNLC) serves as a trusted resource for investors and stakeholders seeking comprehensive updates on this established bank holding company. This dedicated news hub aggregates official announcements, financial disclosures, and market analyses related to FNLC's retail banking operations, commercial lending activities, and investment management services.
Visitors gain access to carefully curated information spanning earnings reports, regulatory filings, strategic partnerships. The collection emphasizes FNLC's core operations in consumer banking, mortgage lending, and wealth management solutions while maintaining strict adherence to factual reporting standards.
Key updates include developments in commercial finance initiatives, private banking expansions, and financial product innovations. This centralized repository enables efficient tracking of the company's performance within the competitive banking sector without promotional bias.
For optimal use, consider bookmarking this page for regular monitoring of FNLC's financial health and strategic direction. All content undergoes rigorous verification to ensure alignment with investor needs and regulatory compliance requirements.
The First Bancorp (Nasdaq: FNLC) reported net income of $8.0 million for Q1 2023, reflecting a 17.9% decrease from $9.7 million in Q1 2022. Diluted earnings per share (EPS) were $0.72, down from $0.88 the previous year. Non-recurring revenues from 2022, including PPP fees, affected this year's comparison by $1.4 million. Net interest income fell to $17.5 million, a 10.3% drop from the prior quarter, primarily due to margin pressures and rising costs. Despite these challenges, total deposits grew by 3.7% to $2.47 billion as of March 31, 2023, and the bank remains well-capitalized with an estimated total risk-based capital ratio of 13.81%. A quarterly dividend of $0.34 per share was declared, representing a 46.6% payout of EPS.
The First Bancorp (NASDAQ: FNLC) has announced a quarterly cash dividend of 34 cents per share, payable on April 20, 2023, to shareholders of record as of April 10, 2023. This dividend represents an annualized yield of 5.18%, based on its closing price of $26.26 on March 29, 2023. The company, based in Damariscotta, Maine, serves the Mid-Coast and Down East regions through 18 offices and offers a range of banking products and wealth management services.
The First Bancorp (Nasdaq: FNLC) reported a 7.5% increase in net income for the year ended December 31, 2022, totaling $39.0 million, compared to $36.3 million in 2021. Earnings per share rose to $3.53, up 7.0% year-over-year. Notable growth in net interest income was attributed to a 16.2% loan growth of $267 million. However, Q4 net income decreased 3.7% to $9.2 million, with earnings per share dropping 4.6% compared to the same quarter last year. The company maintained strong asset quality, with non-performing assets at 0.06%. Total assets surged to $2.74 billion, reflecting a $212 million increase from 2021.
The First Bancorp (NASDAQ: FNLC) has declared a quarterly cash dividend of 34 cents per share, payable on January 20, 2023 to shareholders of record as of January 9, 2023. This dividend yields 4.54% based on the closing price of $29.93 per share on December 14, 2022. The company has reported record earnings for each of the first three quarters of 2022, showcasing strong operating results.
FAQ
What is the current stock price of First Bancorp (FNLC)?
What is the market cap of First Bancorp (FNLC)?
