Cornelius Russell elected board chair at The First Bancorp (NASDAQ: FNLC)

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

The First Bancorp, Inc., parent of First National Bank, announced that its board of directors has elected Cornelius “Connie” Russell as board chair. Russell has served as a director since 2014 and has led several key board committees.

He has chaired the Nominating & Governance, Trust, and Directors’ Loan Committees and served on the Compensation, Asset/Liability, and Executive Committees. Russell succeeds Bruce Tindal, who had been board chair since 2023 and retired from the board on April 29, 2026.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

Director service start: 2014 Prior chair tenure start: 2023 Retirement date: April 29, 2026 +1 more

4 metrics

Director service start 2014 Cornelius Russell has served as a director since 2014

Prior chair tenure start 2023 Bruce Tindal served as board chair since 2023

Retirement date April 29, 2026 Bruce Tindal retired from the board on this date

Election announcement date April 29, 2026 Board announced Cornelius Russell’s election as chair

Key Terms

Nominating & Governance Committee, Directors’ Loan Committee, Compensation Committee, Asset/Liability Committee, +1 more

5 terms

Nominating & Governance Committee financial

"he has chaired the Nominating & Governance Committee, Trust Committee and Directors’ Loan Committee"

Directors’ Loan Committee financial

"chaired the Nominating & Governance Committee, Trust Committee and Directors’ Loan Committee"

Compensation Committee financial

"in addition to serving on the Compensation Committee, as well as the Asset/Liability Committee"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

Asset/Liability Committee financial

"serving on the Compensation Committee, as well as the Asset/Liability Committee and the Executive Committee"

Executive Committee financial

"Asset/Liability Committee and the Executive Committee"

An executive committee is a small group of top leaders within an organization responsible for making important decisions and setting strategic direction. Think of it as the company's steering team, guiding the overall course and ensuring management actions align with long-term goals. For investors, understanding the executive committee helps gauge how decisions are made at the highest level and how leadership might influence the company's future performance.

Understanding 8-K Material Events →

05/01/2026 - 10:15 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 29, 2026

THE FIRST BANCORP, INC.

(Exact name of Registrant as specified in charter)

Maine

(State or other jurisdiction of incorporation)


0-26589			01-0404322
(Commission file number)			(IRS employer identification no.)


223 Main Street	Damariscotta	Maine	04543
(Address of principal executive offices)			(Zip Code)

(207) 563-3195

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is

intended to simultaneously satisfy the filing obligations

of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Securities registered pursuant to Section 12(b) of the Exchange Act:


Title of Each Class	Trading Symbol	Name of each exchange on which registered
Common Stock, par value $0.01 per share	FNLC	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

TABLE OF CONTENTS

Section 5, Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Page 1

Signatures Page 2

Section 5 - Corporate Governance and Management

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The First Bancorp (Nasdaq: FNLC), parent company of First National Bank, announced on Wednesday, April 29, 2026, that its board of directors has elected Cornelius “Connie” Russell as the board’s chair. Mr. Russell has served as a Director of the Company since 2014. During his tenure he has chaired the Nominating & Governance Committee, Trust Committee and Directors’ Loan Committee in addition to serving on the Compensation Committee, as well as the Asset/Liability Committee and the Executive Committee.

Mr. Russell succeeds Bruce Tindal who has served as the board’s chair since 2023 and retired from the board on April 29, 2026.

(d) Exhibits

----------

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE FIRST BANCORP, INC.

By: /s/ Richard M. Elder

---------------------

Richard M. Elder

Executive Vice President & Chief Financial Officer

Dated: May 1, 2026

Source: View Original Filing on SEC EDGAR

FAQ

What leadership change did The First Bancorp (FNLC) announce in this 8-K?

The First Bancorp announced that Cornelius “Connie” Russell was elected chair of its board of directors. He succeeds Bruce Tindal, who had served as board chair since 2023 and retired from the board on April 29, 2026.

Who is Cornelius “Connie” Russell in relation to The First Bancorp (FNLC)?

Cornelius “Connie” Russell is a long-serving director of The First Bancorp, Inc., on the board since 2014. He has chaired the Nominating & Governance, Trust, and Directors’ Loan Committees and served on the Compensation, Asset/Liability, and Executive Committees.

Whom does Cornelius Russell replace as board chair at The First Bancorp (FNLC)?

Cornelius Russell replaces Bruce Tindal as chair of The First Bancorp’s board. Tindal had served as board chair since 2023 and retired from the board on April 29, 2026, prompting the board’s election of Russell to the role.

What board committees has Cornelius Russell served on at The First Bancorp (FNLC)?

Cornelius Russell has chaired the Nominating & Governance Committee, Trust Committee, and Directors’ Loan Committee. He has also served on the Compensation Committee, the Asset/Liability Committee, and the Executive Committee, indicating broad involvement in the company’s board-level oversight.

When did The First Bancorp (FNLC) announce Cornelius Russell’s election as board chair?

The First Bancorp announced Cornelius Russell’s election as chair of its board of directors on Wednesday, April 29, 2026. On the same date, former chair Bruce Tindal retired from the board, and Russell formally assumed the leadership role.

Filing Exhibits & Attachments

3 documents