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First Bancorp, Inc. (ME) (symbol: FNLC) is a prominent financial services company headquartered at 331 Dock St, Ketchikan, Alaska, United States. As a Damariscotta-based bank holding company, First Bancorp, Inc. provides a wide array of retail and commercial banking services. The company offers deposit accounts, consumer loans, commercial loans, and mortgage loans to its diverse client base.
Beyond traditional banking services, First Bancorp, Inc. also excels in investment management and private banking through an operating division of the bank. This division caters to the personalized financial needs of high-net-worth individuals and businesses, ensuring tailored financial strategies.
The financial stability of First Bancorp, Inc. is underlined by its revenue stream, primarily derived from dividends paid to the company by the bank. This solid financial foundation enables the company to maintain and grow its operations consistently.
The company has been involved in various significant projects and partnerships that continue to bolster its market presence. By focusing on customer-centric services and leveraging its robust financial infrastructure, First Bancorp, Inc. sustains its competitive edge in the banking sector.
For the latest updates and in-depth information on the company's performance, events, and developments, investors and stakeholders can rely on the most recent news articles and reports.
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.
The First Bancorp (NASDAQ: FNLC) has declared a quarterly cash dividend of 32 cents per share, payable on April 22, 2022, to shareholders of record as of April 11, 2022. This dividend, based on the March 30, 2022 closing price of $30.06 per share, translates to an annualized yield of 4.26%. President & CEO Tony C. McKim highlighted the company’s record performance in 2021 and the Board's commitment to sharing success with shareholders through dividends.
The First Bancorp (Nasdaq: FNLC) has reported impressive financial results for the year ended December 31, 2021. Net income reached $36.3 million, a 33.7% increase from 2020, with diluted earnings per share rising 33.1% to $3.30. The fourth quarter alone saw net income of $9.5 million, also up 37.0%. Key growth drivers included $170.9 million in loan growth and a 14.1% increase in non-interest revenue. Asset quality improved with non-performing assets decreasing from 0.32% to 0.23% of total assets.
The First Bancorp (NASDAQ: FNLC) declared a quarterly cash dividend of
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.
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