The First Bancorp, Inc.
- Open
- 35.34
- Day high
- 35.80
- Day low
- 35.25
- Prev close
- 35.42
- Volume
- 24K
- Mkt cap
- $402M
- P/E (TTM)
- 10.5
- EPS (TTM)
- $3.41
- P/B
- 1.4
- P/S
- 2.3
- Yield
- 4.18%
- Per share
- $1.49
- ▼Insiders net selling -$183K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
The First Bancorp, Inc. (FNLC) is a Financial Services company listed on NASDAQ. The stock is up 33% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
The First Bancorp, Inc. (FNLC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FNLC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 22, 2026 | — | $0.85 | — | $45M | — |
| Apr 22, 2026 | — | $0.80 | — | $39M | — |
| Mar 6, 2026 | — | $0.91 | — | $45M | — |
| Oct 22, 2025 | — | $0.81 | — | $45M | — |
| Jul 23, 2025 | — | $0.72 | — | $44M | — |
| Apr 23, 2025 | — | $0.63 | — | $43M | — |
| Jan 22, 2025 | — | $0.65 | — | $44M | — |
| Oct 23, 2024 | — | $0.68 | — | $42M | — |
| Jul 24, 2024 | — | $0.55 | — | $41M | — |
| Apr 17, 2024 | — | $0.54 | — | $39M | — |
| Jan 24, 2024 | — | $0.60 | — | $39M | — |
| Oct 18, 2023 | — | $0.67 | — | $37M | — |
FNLC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 29, 2026 | Tolman Sarahofficer: EVP, Chief Banking Officer | Sell | 5,200 | $35.22 |
| Jul 1, 2026 | Plummer Tammy Lofficer: EVP, Chief Information Officer | Tax | 749 | $34.82 |
| May 1, 2026 | Swan Kimberlydirector | Buy | 1,000 | $28.71 |
| May 1, 2026 | Swan Kimberlydirector | Buy | 500 | $28.64 |
| Feb 2, 2026 | SMITH STUART Gdirector | Grant | 750 | — |
| Feb 2, 2026 | Swan Kimberlydirector | Grant | 750 | — |
| Feb 2, 2026 | Russell Cornelius Jdirector | Grant | 750 | — |
| Jan 30, 2026 | Kelly Renee Wdirector | Grant | 750 | — |
| Jan 30, 2026 | Nicholson Jonathan Wofficer: EVP, Chief Lending Officer | Grant | 3,115 | — |
| Jan 30, 2026 | McKim Tony Cdirector, officer: President & CEO | Grant | 9,627 | — |
| Jan 30, 2026 | TINDAL BRUCE Bdirector | Grant | 750 | — |
| Jan 30, 2026 | ELDER RICHARD Mofficer: EVP, CFO | Grant | 3,304 | — |
| Jan 30, 2026 | Brown Jody Lynnofficer: EVP, Chief Risk Officer | Grant | 1,652 | — |
| Jan 30, 2026 | Tolman Sarahofficer: EVP, Chief Banking Officer | Grant | 2,926 | — |
| Jan 30, 2026 | Kachmar Ingrid Wilburdirector | Grant | 750 | — |
Source: FNLC SEC Form 4 filings, latest Jul 29, 2026. For informational purposes only — not investment advice.
See the full FNLC insider & 13F page →The First Bancorp, Inc. company profile
Overview
The First Bancorp, Inc. (NASDAQ:FNLC) is a regional bank holding company that has served Maine communities since 1864. Originally founded as First National Lincoln Corporation, the company rebranded to its current name in April 2008 and went public in 1999. Based in Damariscotta, Maine, First Bancorp operates as the parent company of First National Bank, providing traditional banking services through 18 full-service branches concentrated in the Mid-Coast, Eastern, and Down East regions of Maine, including Lincoln, Knox, Waldo, Penobscot, Hancock, and Washington counties.
Business
First Bancorp operates in the regional banking industry, providing comprehensive financial services to individuals, businesses, and municipalities primarily in rural and small-town Maine markets. The company's core business revolves around traditional banking activities: accepting deposits from customers and lending those funds to borrowers while earning interest on the spread between what it pays depositors and what it charges borrowers. The bank offers a full range of deposit products including demand accounts (checking), NOW accounts (interest-bearing checking), savings accounts, money market accounts, and certificates of deposit. These products serve as the primary funding source for the bank's lending operations. On the lending side, First Bancorp provides several categories of loans. Commercial real estate loans represent a significant portion of the portfolio, financing multi-family residential properties, commercial and retail buildings, office spaces, industrial facilities, hotels, educational institutions, and mixed-use developments. The bank also provides commercial construction loans for both owner-occupied and investment properties, along with other commercial loans including revolving credit lines and term loans for working capital and capital investments. The residential lending segment includes residential term loans such as traditional home mortgages and construction loans for owner-occupied homes, plus home equity loans and lines of credit. Additionally, the bank offers consumer loans for automobiles, boats, recreational vehicles, and unsecured personal loans. Beyond traditional banking, First Bancorp provides wealth management services including private banking, financial planning, investment management, and trust services for individuals, businesses, non-profit organizations, and municipalities. The bank also offers payment processing services to business customers. Municipal lending represents another specialized area, providing loans to local governments for capital expenditures, construction projects, and tax-anticipation financing. This segment leverages the bank's deep knowledge of Maine's local government financing needs.
Revenue model
First Bancorp generates revenue primarily through net interest income - the difference between interest earned on loans and investments and interest paid on deposits and borrowed funds. This traditional banking model depends on maintaining a positive interest rate spread while managing credit risk and funding costs. The bank's customers include individual consumers seeking mortgages, auto loans, and deposit accounts; small and medium-sized businesses requiring commercial loans and banking services; real estate developers and investors needing construction and investment property financing; and municipal governments requiring capital financing. The wealth management division serves higher-net-worth individuals and institutional clients through fee-based services. Non-interest income contributes additional revenue through wealth management fees, trust services, payment processing fees, and various banking service charges. However, net interest income remains the dominant revenue source, typical for traditional community banks. Several factors influence the bank's profitability margins. Interest rate environment significantly impacts both sides of the balance sheet - rising rates can improve loan yields but also increase deposit costs and potentially reduce loan demand. Credit quality directly affects profitability through loan loss provisions, with economic downturns in Maine's economy potentially increasing defaults. Competition from larger regional banks, credit unions, and non-bank lenders can pressure both loan pricing and deposit rates. Regulatory compliance costs represent a fixed expense burden that affects smaller banks disproportionately. Local economic conditions in Maine, particularly in tourism, fishing, and agriculture sectors, influence both loan demand and credit quality. Finally, the bank's operating efficiency ratio - the relationship between non-interest expenses and revenue - determines how effectively it converts revenue into profit.
Competitive moat
First Bancorp's competitive moat is moderate and primarily relationship-based, typical of smaller community banks. The company's strongest defensive characteristic is its deep local market knowledge and long-standing community relationships built over 160 years of operation in Maine. This local presence creates switching costs for customers who value personalized service and face-to-face banking relationships that larger institutions often cannot provide. The bank benefits from geographic concentration in markets where it holds meaningful market share, allowing for operational efficiency and brand recognition. Its focus on commercial real estate and municipal lending requires specialized local knowledge that creates some barriers to entry for outside competitors. However, First Bancorp's moat is not particularly strong in the current banking environment. The company faces significant competitive pressures from multiple directions. Larger regional banks can offer more competitive rates, broader product suites, and superior digital banking platforms. Credit unions compete aggressively in the consumer banking space with tax advantages and member-focused pricing. Non-bank lenders increasingly compete in commercial lending with faster decision-making and specialized expertise. Digital disruption poses a long-term threat as customers increasingly prefer online and mobile banking services over branch-based relationships. Fintech companies offer specialized services that can unbundle traditional banking products. The bank's small scale limits its ability to invest heavily in technology infrastructure compared to larger competitors. Interest rate sensitivity represents another vulnerability, as the bank's asset-liability mix and duration mismatch can create earnings volatility. The concentration in Maine markets, while providing local expertise, also creates geographic risk if the state's economy underperforms. Overall, First Bancorp operates in a structurally challenging industry where scale advantages and technological capabilities increasingly determine competitive positioning.
Risks & safety
First Bancorp demonstrates reasonable financial stability with adequate capitalization but faces typical community bank challenges around interest rate sensitivity and market concentration. • Liquidity position: Cash and short-term investments of $49.7 million (Q4 2024) provide modest liquidity buffer; no significant debt maturity concerns • Capital adequacy: Book value of approximately $252 million with debt-to-equity ratio of 0.38, indicating reasonable capitalization for a regional bank • Profitability trends: Net income of $27 million in 2024 versus $29.5 million in 2023, showing slight decline but maintaining profitability • Valuation metrics: Trading at P/E of 11.2x and P/B of 1.2x, representing reasonable but not compelling valuations for a community bank • Asset quality concerns: Limited visibility into loan loss provisions and non-performing assets from available data • Interest rate risk: Significant exposure to interest rate fluctuations typical of community banks with potential margin compression • Market concentration risk: Heavy dependence on Maine economy creates geographic concentration risk
Recent development
Based on available financial data, First Bancorp has maintained its focus on traditional community banking while navigating a challenging interest rate environment. The company's revenue showed volatility in 2024, with quarterly revenues ranging from $21-41 million, suggesting potential seasonal patterns or one-time items affecting reported figures. Financial performance trends indicate the bank experienced some pressure in 2024, with annual net income declining from $29.5 million in 2023 to $27.0 million in 2024, representing an 8.4% decrease. This decline occurred despite total assets growing from $2.95 billion to $3.16 billion, suggesting margin compression typical of the current interest rate environment. The bank has maintained its dividend policy and capital position, with return on equity remaining in the 10-11% range, which is reasonable for a community bank. The company's focus on commercial real estate lending appears unchanged, consistent with its historical strategy of serving Maine's local business and development community. Balance sheet management shows the bank maintaining adequate liquidity levels while growing its loan portfolio. The increase in total assets suggests continued lending activity despite economic uncertainties. However, the lack of detailed earning call transcripts limits visibility into specific strategic initiatives, technology investments, or market expansion plans the bank may be pursuing.
FNLC company profile · for informational purposes only — not investment advice.
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