Last $16.41 USD
Change Today -0.11 / -0.67%
Volume 16.5K
FNLC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 07/31/14 All times are local (Market data is delayed by at least 15 minutes).

first bancorp inc/me (FNLC) Snapshot

Open
$16.50
Previous Close
$16.52
Day High
$16.55
Day Low
$16.25
52 Week High
07/1/14 - $18.20
52 Week Low
05/7/14 - $15.51
Market Cap
175.7M
Average Volume 10 Days
13.3K
EPS TTM
$1.31
Shares Outstanding
10.7M
EX-Date
07/2/14
P/E TM
12.5x
Dividend
$0.84
Dividend Yield
4.91%
Current Stock Chart for FIRST BANCORP INC/ME (FNLC)

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first bancorp inc/me (FNLC) Details

The First Bancorp, Inc. operates as the holding company for The First, N.A. that provides various banking services to individual and corporate customers in coastal and eastern Maine. The company accepts various deposit products, such as demand, NOW, money market, savings, and certificate of deposit accounts. Its loan portfolio include commercial real estate, commercial construction, and other commercial loans; municipal loans for capitalized expenditures, construction projects, or tax-anticipation notes; residential term loans comprising amortizing home mortgages and construction loans, which include loans for owner-occupied residential construction; home equity loans and lines of credit; and consumer loans, which are amortizing loans to individuals collateralized by automobiles, pleasure craft, and recreation vehicles. The company is also involved in the private banking, financial planning, investment management, and trust services to individuals, businesses, non-profit organizations, and municipalities. It operates 16 full-service banking offices in Lincoln, Knox, Hancock, Washington, and Penobscot counties located in the mid-coast, eastern, and down east regions of Maine. The company was formerly known as First National Lincoln Corporation and changed its name to The First Bancorp, Inc. in April 2008. The company was founded in 1864 and is headquartered in Damariscotta, Maine.

223 Employees
Last Reported Date: 03/14/14
Founded in 1864

first bancorp inc/me (FNLC) Top Compensated Officers

Chief Executive Officer, Director, Chief Exec...
Total Annual Compensation: $498.0K
President, Chief Operating Officer, Director,...
Total Annual Compensation: $273.6K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $277.1K
Executive Vice President, Clerk, Executive Vi...
Total Annual Compensation: $257.7K
Executive Vice President of Human Resources, ...
Total Annual Compensation: $222.3K
Compensation as of Fiscal Year 2013.

first bancorp inc/me (FNLC) Key Developments

The First Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

The First Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the six months, the company reported net interest income of $19,546,000 against $18,274,000 a year ago. Income before income taxes was $9,293,000 against $7,629,000 a year ago. Net income was $7,175,000 or $0.67 per share basic and diluted against $6,098,000 or $0.56 per share basic and diluted a year ago. Book value per common share was $14.70 against $13.69 a year ago. Tangible book value per common share was $11.87 against $10.82 a year ago. Return on average equity was 9.40% against 8.18% a year ago. Return on average tangible common equity was 11.71% against 9.70% a year ago. Return on average assets was 0.98% against 0.87% a year ago. Adjusted net interest income plus non-interest income was $26,212,000 against $25,869,000 a year ago. For the quarter, the company reported net interest income of $9,835,000 against $9,111,000 a year ago. Income before income taxes was $4,902,000 against $4,067,000 a year ago. Net income was $3,747,000 or $0.35 per share basic and diluted against $3,242,000 or $0.29 per share basic and diluted a year ago. Return on average equity was 9.59% against 8.38% a year ago. Return on average tangible common equity was 11.90% against 9.93% a year ago. Return on average assets was 1.01% against 0.92% a year ago. Adjusted net interest income plus non-interest income was $13,237,000 against $12,821,000 a year ago.

The First Bancorp Declares Increased Second Quarterly Dividend, Payable on July 31, 2014

The board of directors of The First Bancorp declared a quarterly dividend of 21 cents per share. This second-quarter dividend is payable July 31, 2014 to shareholders of record as of July 7, 2014, and is a one cent increase from the 20 cents per share dividend the company paid in the past two quarters. Based on the June 18, 2014 closing price of $16.44 per share, the annualized dividend of 84 cents per share translates into a yield of 5.11%.

The First Bancorp, Inc. and The First, N.A. Announce Management Changes

On May 20, 2014, The First Bancorp, Inc. announced that Daniel R. Daigneault, President and Chief Executive Officer of the company and its wholly-owned subsidiary, The First, N.A. (the Bank), has informed the board of directors of his intent to retire in early 2015. The company also announced that the board of directors has named Tony C. McKim, currently Executive Vice President & Chief Operating Officer, as President & Chief Operating Officer of the Bank, effective June 1, 2014. Mr. McKim will eventually succeed Mr. Daigneault as Chief Executive Officer of the company and the bank. Mr. McKim joined the company as Executive Vice President, Chief Operating Officer and a member of the Board of Directors of the company and the Bank upon completion of the merger of FNB Bankshares (FNB) and its subsidiary into the company and the Bank on January 14, 2005. Prior to the merger, Mr. McKim was President and Chief Executive Officer of FNB and its subsidiary.

 

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FNLC Competitors

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Summit Financial Group Inc $10.35 USD -0.05
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Industry Analysis

FNLC

Industry Average

Valuation FNLC Industry Range
Price/Earnings 12.6x
Price/Sales 3.8x
Price/Book 1.1x
Price/Cash Flow 12.6x
TEV/Sales NM Not Meaningful
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