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.
The First Bancorp, Inc. (NASDAQ: FNLC) news page on Stock Titan aggregates company announcements, earnings releases, and other public disclosures for this Maine-based bank holding company. First Bancorp is the parent of First National Bank, a full-service community bank founded in 1864 and based in Damariscotta, Maine. The bank serves Mid-Coast and Down East Maine through eighteen offices and offers consumer and commercial banking products and services, as well as investment management and trust services through First National Wealth Management.
Investors following FNLC news can review regular quarterly and annual results, where the company reports on net income, net interest income, net interest margin, efficiency ratios, loan and deposit trends, asset quality metrics, and capital ratios. These releases provide detail on loan portfolio growth across residential, commercial, multifamily, municipal, and home equity segments, as well as changes in deposit mix and borrowed funds.
The news flow also includes recurring dividend declarations, with press releases announcing quarterly cash dividends on FNLC common stock and commentary on the role of the dividend in the company’s value proposition to shareholders. Additional items may cover liquidity and funding updates, asset quality developments, and other operational highlights.
Because First Bancorp files current reports on Form 8-K in connection with earnings releases, dividend announcements, and certain corporate events, many of these disclosures are reflected in both SEC filings and press releases. The FNLC news page offers a convenient way to monitor these developments over time and to see how management describes the performance and strategy of this community banking organization.
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.
The First Bancorp (Nasdaq: FNLC) reported record net income of $10.1 million for Q3 2022, reflecting an 11.9% increase from Q3 2021. Earnings per share rose to $0.91, up from $0.82. Year-to-date net income reached $29.8 million, marking an 11.5% growth. Key drivers included a 16.6% rise in net interest income, fueled by a healthy loan portfolio growth of $232.3 million. The efficiency ratio increased to 46.02%, influenced by one-time costs. As of September 30, total assets stood at $2.74 billion, underpinned by strong deposit growth of 16.6%.
The First Bancorp (NASDAQ: FNLC) has announced a quarterly cash dividend of 34 cents per share, payable on October 21, 2022, to shareholders of record as of October 5, 2022. This dividend reflects an annual yield of 4.76%, based on the closing price of $28.58 per share on September 20, 2022. CEO Tony C. McKim highlighted the company’s strong performance, with record earnings reported in the first two quarters of 2022, demonstrating the Board’s commitment to shareholder returns.
The First Bancorp (Nasdaq: FNLC) reported a strong second quarter 2022, achieving a net income of $10.0 million, up 13.8% from the previous year. This marks a new quarterly earnings record with earnings per share at $0.91, a 13.8% increase. For the first half of 2022, net income reached $19.7 million, up 11.3% year-over-year. Key growth drivers included a 20.2% increase in non-PPP loan growth, leading to an 18.9% rise in net interest income. The company declared a dividend of $0.34 per share, a 6.25% increase. Asset quality remains high, with low non-performing loan ratios.
The First Bancorp (NASDAQ: FNLC) declared a quarterly cash dividend of 34 cents per share, marking a 6.25% increase from the prior quarter's 32 cents. This dividend is payable on July 22, 2022, to shareholders of record as of July 11, 2022. Based on the June 29, 2022 closing price of $29.92, the annualized dividend yields 4.55%. The company's President, Tony C. McKim, noted strong performance in 2021 and into 2022, showcasing commitment to rewarding shareholders.
The First Bancorp (Nasdaq: FNLC) reported a record net income of $9.7 million for Q1 2022, an increase of 8.8% from the previous year, with earnings per share rising to $0.88. Loan growth was strong at $79.2 million, primarily in commercial real estate and construction, reflecting an annualized growth rate of 19.7%. Net interest income grew 17.3% year-over-year, and the net interest margin improved to 3.24%. A quarterly dividend of $0.32 per share was declared, underscoring the company's commitment to returning value to shareholders.
FAQ
What is the current stock price of First Bancorp (FNLC)?
What is the market cap of First Bancorp (FNLC)?
