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), the holding company for First National Bank, has declared a quarterly cash dividend of 36 cents per share for the second quarter. This dividend marks a one-cent increase from the previous four quarters and will be payable on July 19, 2024, to shareholders of record as of July 9, 2024. Based on the closing price of $23.53 per share on June 26, 2024, this annualized dividend of $1.44 per share offers a yield of 6.12%. The announcement underscores the company's commitment to providing value to its shareholders.
First Bancorp, headquartered in Damariscotta, Maine, operates First National Bank with 18 offices across Mid-Coast and Down East Maine. The Bank offers a comprehensive range of consumer and commercial banking products and services, as well as investment management and trust services through First National Wealth Management.
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.
FAQ
What is the current stock price of First Bancorp (FNLC)?
What is the market cap of First Bancorp (FNLC)?
