The First Bancorp Declares Fourth Quarter Dividend
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2024
0mins
Source: Businesswire
Quarterly Dividend Announcement: The First Bancorp declared a quarterly cash dividend of 36 cents per share for the fourth quarter, payable on January 16, 2025, to shareholders of record as of January 6, 2025.
Company Overview: The First Bancorp, based in Damariscotta, Maine, operates First National Bank and offers a range of banking products and services across several counties in Maine.
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About FNLC
The First Bancorp, Inc. is the holding company of The First National Bank (the Bank). The Bank provides commercial and retail banking services. The Bank offers traditional banking products and services, including deposit accounts, cash management and payment processing solutions, and consumer, commercial and mortgage loans. First National Wealth Management, a division of the Bank, provides investment management and trust services to individuals, businesses, and municipalities. First National Wealth Management offers an array of private banking, financial planning, investment management and trust services to individuals, businesses, non-profit organizations and municipalities of varying asset sizes, and to provide personal service. Its First National Investment Services offers additional products such as brokerage, annuity products and certain types of insurance. The Bank operates 18 full-service banking offices in six counties in the Mid-Coast, Eastern and Down East regions of Maine.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Attention: With the Maine governor backing a millionaire tax, First Bancorp's financial performance has garnered investor interest, which could influence its future stock price movements and market confidence.
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- Market Attention: With the Maine governor backing a millionaire tax, First Bancorp's financial performance has garnered investor interest, which could influence its future stock price movements and market confidence.
- Dividend Performance: First Bancorp's strong dividend performance has attracted investor attention, demonstrating the company's commitment to shareholder returns, which may enhance its appeal in the financial markets.
See More
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- Net Interest Margin Expansion: The net interest margin rose to 2.86%, a 38 basis point increase from the previous year, driven by enhanced yields on the loan portfolio and reduced funding costs, further propelling revenue growth and market competitiveness.
- Efficiency Ratio Improvement: The efficiency ratio improved to 52.64% in Q1 from 56.93% a year earlier, indicating positive progress in cost control and operational efficiency, which aids in enhancing overall profitability.
- Stable Asset Quality: As of March 31, 2026, the ratio of non-performing assets to total assets was 0.51%, demonstrating effective risk management and maintaining good asset quality, which helps to strengthen investor trust in the company.
See More
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- Leadership Role: Gribble will be responsible for overseeing the bank's human resources and people strategies.
See More
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See More
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- Strong Revenue Increase: The company's revenue for the fourth quarter rose 17.5% to $25.84 million, compared to $21.99 million last year, reflecting robust business expansion and strong market demand.
- Solid Financial Performance: Under GAAP standards, First Bancorp's earnings and revenue exceeded market expectations, demonstrating the company's resilience and competitiveness in the current economic environment, potentially attracting more investor interest.
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