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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.
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The First Bancorp (Nasdaq: FNLC) announced record operating results for Q3 2021, achieving a net income of $9.0 million, a 27.0% increase from $7.1 million in Q3 2020. Earnings per share rose to $0.82, up 26.2%. The company reported a year-to-date net income of $26.7 million, up 32.6%. Loan balances, excluding PPP loans, grew by $43.7 million, while low-cost deposits increased by $138.9 million. Net interest income surged 15.4%. However, mortgage banking revenues fell 46.2% compared to last year. The efficiency ratio improved to 44.85%, reflecting strong asset management performance.
The First Bancorp (NASDAQ: FNLC) has announced a quarterly cash dividend of 32 cents per share, payable on October 22, 2021, to shareholders of record as of October 12, 2021. This dividend reflects an annualized rate of $1.28, providing a yield of 4.34% based on the closing price of $29.50 on September 29, 2021. The company's recent earnings have been strong, with record earnings reported in both 2020 and the first half of 2021, according to CEO Tony C. McKim.
The First Bancorp (FNLC) reported strong operating results for Q2 2021, with net income of $8.8 million, a 33.8% increase from $6.6 million in Q2 2020. Earnings per share rose to $0.80, up 33.3% year-over-year. For H1 2021, net income reached $17.7 million, up 35.6% from 2020. Loan growth fueled a $1.2 million increase in net interest income. The efficiency ratio improved to 44.75%. The board declared a dividend of $0.32, representing 39.51% of earnings. Asset quality remained strong with non-performing assets at 0.30%.
The First Bancorp (NASDAQ: FNLC) has declared a quarterly cash dividend of 32 cents per share, payable on July 19, 2021, to shareholders of record as of July 8, 2021. This represents a 3.2% increase from the previous quarter, reflecting the company's strong performance following record annual earnings in 2020. The annualized dividend of $1.28 per share translates to a yield of 4.28%. The Bank, headquartered in Maine, offers various banking products and services, continuing to demonstrate commitment to shareholder value.
Tony C. McKim, CEO of The First Bancorp, Inc. (Nasdaq: FNLC), announced the election of Kimberly Swan as a Director for the Bank and the Company. Ms. Swan, a prominent real estate broker in Bar Harbor, Maine, joins the Company's Governance Committee and the Bank's Directors Loan and Trust Committees. With 39 years in the real estate industry, she brings substantial expertise. The First Bancorp, founded in 1864, manages $2.4 billion in assets and provides various banking services across 17 locations in Maine.
The First Bancorp (Nasdaq: FNLC) announced impressive operating results for Q1 2021, reporting a net income of $8.9 million, a 37.4% increase from Q1 2020. Earnings per share rose to $0.81, a 35.0% year-over-year growth. Strong performance across business lines drove gains in net interest income, which rose 6.4% year-over-year, and non-interest income, up 49.3%. Total assets reached $2.44 billion, and low-cost deposits grew by $68.1 million. The efficiency ratio improved to 45.52%, reflecting effective cost management.
The First Bancorp (NASDAQ: FNLC) declared a quarterly cash dividend of 31 cents per share, payable on April 16, 2021. Shareholders of record as of April 6, 2021 will receive this dividend. As of March 24, 2021, the annualized dividend of $1.24 per share yields 4.42%. The company's President & CEO, Tony C. McKim, emphasized that these dividends reflect the bank's record annual earnings in 2020, underlining the board's commitment to sharing success with shareholders.
The First Bancorp (Nasdaq: FNLC) reported a net income of $27.1 million for 2020, a 6.3% increase from 2019. Earnings per share rose to $2.48, up 6.0%. The company saw a 14.0% year-over-year increase in net interest income and a 21.5% rise in non-interest revenue, primarily from mortgage banking and wealth management. Total assets reached $2.36 billion, up $292.4 million, with total loans increasing by 13.9%. The efficiency ratio improved to 50.00% while capital ratios remained strong. The company actively supported borrowers during COVID-19, with significant PPP loan involvement.
The First Bancorp (NASDAQ: FNLC) declared a quarterly cash dividend of 31 cents per share, payable on January 19, 2021, to shareholders of record as of January 6, 2021. This signifies an annualized dividend of $1.24, equating to a yield of 4.88% based on the closing price of $25.41 on December 16, 2020. President & CEO Tony C. McKim reported strong earnings for the first three quarters of 2020, including record earnings for the third quarter, showing the company’s commitment to rewarding its shareholders.
The First Bancorp (Nasdaq: FNLC) reported record net income of $7.1 million for Q3 2020, up 12.8% from Q3 2019. Fully diluted earnings per share rose to $0.65, a 12.1% increase year-over-year. For the nine months ended September 30, net income totaled $20.2 million, an increase of 7.0%. Total assets reached $2.3 billion, with a significant boost in low-cost deposits. The company continues to support local businesses through $97 million in PPP loans. A strategic branch acquisition in Belfast is pending regulatory approval.
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