Financial Performance - Net income for the nine months ended September 30, 2020, was $20,159,000, compared to $18,839,000 in 2019, representing a growth of 7.0%[14] - Basic earnings per common share increased to $1.86 for the nine months ended September 30, 2020, up from $1.74 in 2019[14] - Net income for the nine months ended September 30, 2020, was reported at $20,159,000, resulting in a basic EPS of $1.86 and diluted EPS of $1.84[105] - For the quarter ended September 30, 2020, net income was $7,095,000, leading to a basic and diluted EPS of $0.65[105] - Net income for the nine months ended September 30, 2020 was $20.2 million, up $1.3 million or 7.0% from the same period in 2019[180] Asset Growth - Total assets increased to $2,296,626,000 as of September 30, 2020, up from $2,068,796,000 at December 31, 2019, representing a growth of 11.0%[13] - The company's total assets as of September 30, 2020, were $2.210594 billion, up from $1.994874 billion as of September 30, 2019, representing an increase of 10.8%[199] - Total deposits grew to $1,763,059,000 as of September 30, 2020, compared to $1,650,466,000 at the end of 2019, reflecting a growth of 6.8%[13] - Total shareholders' equity increased to $219,440,000 as of September 30, 2020, up from $208,489,000 at the end of September 2019, reflecting a growth of 5.0%[18] Loan and Deposit Metrics - Net loans reached $1,421,275,000, an increase of 10.6% from $1,285,436,000 at the end of 2019[13] - The company's loan portfolio as of September 30, 2020, totaled $1,436,646,000, an increase from $1,297,075,000 as of December 31, 2019, representing a year-over-year growth of approximately 10.7%[39] - The company experienced a net cash used by investing activities of $214,584,000 for the nine months ended September 30, 2020, compared to $70,264,000 for the same period in 2019[18] - The company reported a net increase in demand, savings, and money market accounts of $212,641,000 for the nine months ended September 30, 2020[18] Non-Interest Income and Expenses - Net interest income for the nine months ended September 30, 2020, was $44,154,000, compared to $39,075,000 for the same period in 2019, reflecting a growth of 12.0%[14] - Total non-interest income rose to $13,627,000 for the nine months ended September 30, 2020, up from $10,281,000 in 2019, marking a 32.8% increase[14] - Total non-interest expense for the nine months ended September 30, 2020, was $29,236,000, compared to $26,168,000 in 2019, indicating a rise of 11.7%[14] Loan Loss Provisions - Provision for loan losses increased to $4,550,000 for the nine months ended September 30, 2020, compared to $875,000 for the same period in 2019, indicating a significant rise in risk assessment[14] - The allowance for loan losses as of September 30, 2020, totaled $15,371,000, including specific reserves of $890,000 and general reserves of $1,826,000[67] - The provision for loan losses for the first nine months of 2020 was $4.6 million, significantly up from $875,000 in the same period in 2019[187] Securities and Investments - As of September 30, 2020, the fair value of investment securities was $340,140,000, compared to $360,520,000 as of December 31, 2019, indicating a decrease of approximately 5.6%[26] - The total amortized cost of securities available for sale was $333,152,000, with unrealized gains of $8,157,000 and unrealized losses of $1,169,000[26] - The company’s investment policy limits investments to government debt obligations, time deposits, and highly rated corporate bonds[205] Impaired Loans - The total recorded investment in impaired loans was $19.34 billion, with an unpaid principal balance of $21.65 billion, resulting in a related allowance of $890 million[44] - Impaired loans decreased to $789 million as of September 30, 2020, down from $6,579 million as of December 31, 2019, a significant decline of approximately 88%[150] - The specific reserves for TDRs as of September 30, 2020, amounted to $395,000, compared to $1,683,000 for 82 loans as of September 30, 2019[51] Regulatory and Compliance - The Company's total risk-based capital ratio was 15.44% as of September 30, 2020, above the well-capitalized threshold of 10.0%[189] - The company has established a systematic methodology for determining the allowance for loan losses, which includes a quarterly review process[60] - The implementation of ASU No. 2016-13 is anticipated to have a material impact on the Company's consolidated financial statements upon adoption[158] Miscellaneous - The company approved a new 2020 Equity Incentive Plan, reserving 400,000 shares for stock options and other equity-based awards to attract and retain personnel[101] - The company utilized a weighted average discount rate of 3.00% for determining the accumulated benefit obligation and net periodic benefit cost[110] - The Bank incurred one-time charges of $1.76 million in Q1 2020 related to the restructuring of interest rate swap positions[121]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 For the quarterly period ended June 30, 2020 Commission File Number 0-26589 THE FIRST BANCORP, INC. (Exact name of Registrant as specified in its charter) Maine 01-0404322 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Main Street Damariscotta Maine 04543 (Address of principal executive o ...

Financial Performance - Net income for Q1 2020 was $6,495,000, reflecting a 5.5% increase from $6,156,000 in Q1 2019[16]. - Basic earnings per common share increased to $0.60 for Q1 2020, up from $0.57 in Q1 2019, marking a growth of 5.3%[16]. - Net interest income for the three months ended March 31, 2020, was $14,918,000, an increase of 15.6% compared to $12,899,000 for the same period in 2019[16]. - Total non-interest income rose to $4,221,000 in Q1 2020, a 34.3% increase from $3,144,000 in Q1 2019[16]. - The total comprehensive income for the three months ended March 31, 2020, was $5,866,000, compared to $9,206,000 for the same period in 2019, indicating a decline in overall income[21]. - The efficiency ratio for the first quarter of 2020 was 58.12%, up from 50.45% in the same period of 2019, impacted by restructuring charges[183]. Asset and Equity Growth - Total assets increased to $2,136,396,000 as of March 31, 2020, up from $2,068,796,000 at December 31, 2019, representing a growth of 3.3%[14]. - The total shareholders' equity reached $215,257,000 as of March 31, 2020, compared to $212,508,000 at December 31, 2019, an increase of 1.3%[14]. - Total shareholders' equity increased to $215,257,000 as of March 31, 2020, up from $197,787,000 at the end of 2019, reflecting a growth of approximately 8.8%[21]. - The book value per common share rose to $19.71 as of March 31, 2020, compared to $19.50 at December 31, 2019, an increase of 1.1%[14]. Loan Portfolio and Quality - As of March 31, 2020, the company's total loan portfolio amounted to $1,344,208,000, an increase from $1,297,075,000 as of December 31, 2019, representing a growth of approximately 3.9%[36]. - The company reported a total of $21,829,000 in past-due loans as of March 31, 2020, with 90+ days past due loans amounting to $10,321,000[37]. - Non-accrual loans as of March 31, 2020, totaled $10,048,000, a decrease from $16,649,000 as of December 31, 2019[40]. - The allowance for impaired loans with a recorded allowance was $992,000 as of March 31, 2020[42]. - The total past-due loans as of March 31, 2019, were $11,280,000, with $3,017,000 being 90+ days past due[40]. Investment Securities - As of March 31, 2020, the total amortized cost of investment securities was $341,592,000, with an estimated fair value of $349,248,000, reflecting a net unrealized loss of $352,000[29]. - The total investment securities amounted to $664,514,000, an increase from $651,108,000 at December 31, 2019[202]. - The total securities available for sale decreased to $312,928,000 as of March 31, 2020, down from $360,520,000 at December 31, 2019[202]. - The total securities to be held to maturity increased to $341,592,000 as of March 31, 2020, compared to $281,606,000 at December 31, 2019[202]. Allowance for Loan Losses - The allowance for loan losses as of March 31, 2020, totaled $11,858,000, with specific reserves of $992,000 and general reserves of $1,899,000[61]. - The provision for loan losses was $400,000 for Q1 2020, compared to $375,000 in Q1 2019, indicating a slight increase in risk management[16]. - The qualitative portion of the allowance for loan losses increased to 0.51% of related loans as of March 31, 2020, compared to 0.48% as of December 31, 2019, reflecting a $585,000 increase due to macroeconomic impacts from the COVID-19 pandemic[64]. Impact of COVID-19 - The company noted that the ongoing COVID-19 pandemic may adversely impact its financial position and future operations, particularly in the tourism-dependent State of Maine[24]. - The company expects more severe impacts from COVID-19 in Q2 2020 and beyond, although Q1 results were not significantly affected[175]. Interest Rate Management - The Bank's interest rate risk management strategy aims to minimize fluctuations in earnings and cash flows due to interest rate volatility[115]. - The Bank incurred one-time charges of $1.76 million during Q1 2020 related to the restructuring of interest rate swap positions[117]. - As of March 31, 2020, the total notional amount of interest rate swap agreements was $220 million, with a fair value loss of $6.042 million[117]. Non-Interest Income and Expense - Non-interest income for the three months ended March 31, 2020 was $4.2 million, an increase of $1.1 million or 34.3% year-over-year, with a 15.7% increase in investment management income and a 70.3% increase in mortgage banking revenue[193]. - Non-interest expense for the same period was $11.0 million, up $2.6 million or 31.5% from the previous year, primarily due to $1.8 million in charges for restructuring interest rate swap positions[194].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 For the Fiscal Year ended December 31, 2019 Commission File Number 0-26589 THE FIRST BANCORP, INC. (Exact name of Registrant as specified in its charter) Maine 01-0404322 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 223 Main Street Damariscotta Maine 04543 (Address of principal executive o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 For the quarterly period ended September 30, 2019 Commission File Number 0-26589 THE FIRST BANCORP, INC. (Exact name of Registrant as specified in its charter) Maine 01-0404322 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Main Street Damariscotta Maine 04543 (Address of principal execut ...

THE FIRST BANCORP, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (Exact name of Registrant as specified in its charter) FORM 10-Q Maine 01-0404322 ☒ Quarterly Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 For the quarterly period ended June 30, 2019 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Commission File Number 0-26589 Main Street Damariscotta Maine 04543 (Address of principal executive o ...

Financial Performance - Net income for Q1 2019 was $6,156,000, an increase of 11.8% from $5,506,000 in Q1 2018[16]. - Basic earnings per common share rose to $0.57 in Q1 2019, compared to $0.51 in Q1 2018, marking an increase of 11.8%[16]. - The company reported a comprehensive income of $9,206,000 for Q1 2019, significantly higher than $2,573,000 in Q1 2018[16]. - Net interest income for the three months ended March 31, 2019, was $12,899,000, compared to $12,409,000 for the same period in 2018, reflecting a growth of 3.9%[16]. - Non-interest income for Q1 2019 was $3,144,000, slightly up from $3,132,000 in Q1 2018, showing a marginal increase of 0.4%[16]. - Total interest income for Q1 2019 was $19.3 million, an increase of $2.8 million or 17.1% compared to Q1 2018[189]. - The efficiency ratio improved to 50.45% in Q1 2019 from 53.75% in Q1 2018, indicating better cost management[180]. Assets and Deposits - Total assets increased to $1,991,345,000 as of March 31, 2019, up from $1,871,815,000 a year earlier, representing an increase of 6.4%[14]. - Total deposits increased to $1,606,875,000 as of March 31, 2019, up from $1,428,192,000 a year earlier, indicating a growth of 12.5%[14]. - Total cash and cash equivalents at the end of Q1 2019 were $15,270,000, down from $16,559,000 at the end of Q1 2018[21]. - The company reported a total of $11,280,000 in past-due loans as of March 31, 2019, with 90+ days past due loans amounting to $3,017,000[35]. - The company's loan portfolio as of March 31, 2019, totaled $1,264,639,000, an increase from $1,238,283,000 as of December 31, 2018[34]. Loan Losses and Provisions - The allowance for loan losses was $11,490,000 as of March 31, 2019, compared to $10,957,000 a year earlier, reflecting a 4.9% increase[14]. - The provision for loan losses was $375,000 in Q1 2019, down from $500,000 in Q1 2018[21]. - The total specific reserves for loans evaluated individually for impairment in the real estate segment as of March 31, 2019, were $233,000[60]. - The total balance of loans classified as TDRs as of March 31, 2019, was $1,129,000, with 10 loans more than 30 days past due[46]. - The specific reserves for TDRs as of March 31, 2019, amounted to $1,607,000, compared to $1,568,000 as of December 31, 2018[44]. Securities and Investments - The amortized cost of securities available for sale was $327,224,000 with an estimated fair value of $325,276,000 as of March 31, 2019[27]. - The fair value of pledged securities was $189,711,000, down from $222,829,000 on December 31, 2018[27]. - The total unrealized losses for securities available for sale amounted to $5,595,000 as of March 31, 2019[30]. - The company reported a gross realized loss of $0 for the three months ended March 31, 2019[28]. - The estimated fair value of total loans as of March 31, 2019, was $1,229,685,000, compared to $1,193,788,000 as of December 31, 2018, indicating an increase of approximately 3.0%[145]. Capital and Equity - Total shareholders' equity increased to $197,787,000 at the end of Q1 2019 from $191,542,000 at the end of Q1 2018[21]. - The company's total risk-based capital ratio increased to 14.96%, well above the 10.0% threshold for well-capitalized institutions[186]. - Return on average tangible common equity was 15.09% for Q1 2019, compared to 14.69% for the same period in 2018[187]. - The company declared cash dividends of $3,149,000 in Q1 2019, compared to $2,603,000 in Q1 2018[21]. Regulatory and Compliance - The company is currently evaluating the impact of ASU No. 2016-13, which may have a material impact on its consolidated financial statements, and has formed an implementation committee for this purpose[154]. - The Company adopted ASU No. 2014-09 on January 1, 2018, utilizing the modified retrospective approach, concluding that the new standard will have minimal impact on its consolidated financial statements[150]. - The amendments in ASU No. 2018-13, which revise disclosure requirements for fair value measurements, will not have a material impact on the Company's consolidated financial statements[162]. Miscellaneous - The company recognized $123,000 in expense for restricted stock grants in the three months ended March 31, 2019, leaving $1,046,000 in unrecognized expense[96]. - The company has not made any changes to its accounting policies or methodology for estimating the allowance for loan losses during the three months ended March 31, 2019[90]. - The company placed five loans on TDR status during the three months ended March 31, 2019, with a recorded investment of $573,000[48].

FORM 10-K [X] Annual Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 For the Fiscal Year ended December 31, 2018 Commission File Number 0-26589 THE FIRST BANCORP, INC. (Exact name of Registrant as specified in its charter) MAINE 01-0404322 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) MAIN STREET, DAMARISCOTTA, MAINE 04543 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (Address of principal executive o ...