FNLC replaces Berry Dunn with BDMP Assurance as independent auditor

Rhea-AI Filing Summary

The First Bancorp, Inc. reported that its Audit Committee dismissed Berry, Dunn, McNeil & Parker, LLC as independent auditor effective November 19, 2025, and the Board concurrently engaged BDMP Assurance, LLP as the new independent registered public accounting firm for the fiscal year ending December 31, 2025.

The company stated that Berry, Dunn’s audit reports on the 2023 and 2024 financial statements contained no adverse opinions, disclaimers, or qualifications. It also reported no disagreements or reportable events with Berry, Dunn during the past two fiscal years and the subsequent interim period before dismissal. The company further noted that it did not consult with BDMP Assurance, LLP on accounting or auditing matters prior to this engagement.

Insights

Banking governance and audit specialist

FNLC is changing audit firms with no reported disputes or issues.

The First Bancorp, Inc. is replacing Berry, Dunn, McNeil & Parker, LLC with BDMP Assurance, LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2025. BDMP Assurance is a licensed CPA firm registered with the PCAOB and is owned by certain partners of the outgoing firm, which indicates continuity in personnel even as the legal audit firm changes.

The company reports that Berry, Dunn’s opinions on the 2023 and 2024 financial statements were clean, with no adverse opinions, disclaimers, or qualifications, and that there were no disagreements or reportable events under Item 304 of Regulation S-K. This language is designed to signal that the change is not driven by disclosed accounting disputes or audit problems.

The company also notes that it did not consult with BDMP Assurance on accounting principles, specific transactions, or potential audit opinions before this engagement, and that there were no disagreements or reportable events involving BDMP Assurance. Future periodic reports will allow readers to see how smoothly the transition is implemented and whether audit conclusions remain consistent over time.

8-K Event Classification

2 items: 4.01, 9.01

2 items

Item 4.01 Changes in Registrant's Certifying Accountant Governance

The company changed its independent auditing firm, which may involve disagreements on accounting matters.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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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): November 19, 2025

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 pursuit 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

Item 4.01 Changes in Registrant's Certifying Accountant Page 1

Item 9.01 Financial Statements and Exhibits Page 1

Signatures                      Page 2

Item 4.01. Changes in Registrant's Certifying Accountant

On November 19, 2025, the Audit Committee of the Board of Directors of The First Bancorp, Inc. (the “Company”) approved the dismissal of Berry, Dunn, McNeil & Parker, LLC, the Company’s independent registered public accounting firm, effective as of November 19, 2025. Concurrently, the Board approved the engagement of BDMP Assurance, LLP as the Company’s new independent registered public accounting firm for the fiscal year ending December 31, 2025. BDMP Assurance, LLP is a licensed CPA firm registered with the PCAOB, owned by certain partners of Berry, Dunn, McNeil & Parker, LLC.

The reports of Berry, Dunn, McNeil & Parker, LLC on the Company’s financial statements for the fiscal years ending December 31, 2023 and December 31, 2024 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.

During the Company’s two most recent fiscal years and the subsequent interim period preceding the dismissal, there were (i) no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K) with Berry, Dunn, McNeil & Parker, LLC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Berry, Dunn, McNeil & Parker, LLC, would have caused it to make reference to the subject matter thereof in connection with its reports on the financial statements for such years, and (ii) no “reportable events” (as described in Item 304(a)(1)(v) of Regulation S-K).

The Company has provided Berry, Dunn, McNeil & Parker, LLC with a copy of the disclosures made in this Current Report on Form 8-K and has requested that Berry, Dunn, McNeil & Parker, LLC furnish the Company with a letter addressed to the U.S. Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter is filed as Exhibit 16.1 to this Form 8-K.

During the fiscal years ended December 31, 2024 and 2023, and the subsequent interim period through September 30, 2025, neither the Company nor anyone on the Company’s behalf consulted with BDMP Assurance, LLP with respect to either (i)(a) the application of accounting principles to a specified transaction, either completed or proposed, or (b) the type of audit opinion that might be rendered on the Company’s consolidated financial statements, and neither a written report nor oral advice was provided by BDMP Assurance, LLP to the Company that BDMP Assurance, LLP concluded was an important factor that the Company consider in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any other matter that was the subject of a “disagreement” or a “reportable event” (as these terms are defined in Item 304(a)(1) of Regulation S-K and the related instructions).

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

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16.1 Letter from Berry, Dunn, McNeil & Parker, LLC to the U.S. Securities and Exchange Commission dated November 19, 2025

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

November 19, 2025

FAQ

What auditor change did The First Bancorp, Inc. (FNLC) announce?

The First Bancorp, Inc. reported that its Audit Committee dismissed Berry, Dunn, McNeil & Parker, LLC as its independent registered public accounting firm effective November 19, 2025, and the Board engaged BDMP Assurance, LLP as the new auditor for the fiscal year ending December 31, 2025.

Were there any disagreements between FNLC and its former auditor Berry, Dunn, McNeil & Parker, LLC?

The company stated that during its two most recent fiscal years and the subsequent interim period before dismissal, there were no disagreements with Berry, Dunn, McNeil & Parker, LLC on accounting principles, financial statement disclosure, or audit procedures, and no reportable events as defined in Item 304 of Regulation S-K.

What kind of audit opinions did Berry, Dunn issue on FNLCs financial statements?

Berry, Dunn, McNeil & Parker, LLCs reports on FNLCs financial statements for the years ended December 31, 2023 and December 31, 2024 did not contain adverse opinions, disclaimers of opinion, or qualifications related to uncertainty, audit scope, or accounting principles.

Did FNLC consult with BDMP Assurance, LLP before appointing it as auditor?

The company reported that during the fiscal years ended December 31, 2023 and December 31, 2024, and through September 30, 2025, neither FNLC nor anyone on its behalf consulted with BDMP Assurance, LLP about the application of accounting principles, specific transactions, potential audit opinions, or any matter that would be a disagreement or reportable event.

What additional correspondence related to the auditor change did FNLC file?

FNLC requested that Berry, Dunn, McNeil & Parker, LLC provide a letter to the U.S. Securities and Exchange Commission stating whether it agrees with the companys disclosures about the change in auditor. This letter is filed as Exhibit 16.1 dated November 19, 2025.

Who signed the FNLC report announcing the auditor change?

The report was signed on behalf of The First Bancorp, Inc. by Richard M. Elder, Executive Vice President & Chief Financial Officer, on November 19, 2025.