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 ...