Quarterly ResultMay 8, 2026, 10:42 AM

First Bancorp Q1 Net Income +27% to $8.99M; EPS $0.81

AI Summary

First Bancorp reported a strong first quarter for 2026, with net income increasing by 27.07% to $8.99 million and diluted earnings per share rising to $0.80. Net interest income also saw significant growth, up 16.24% to $20.69 million. However, the company experienced a notable increase in non-performing loans to total loans, which rose to 0.67% from 0.25% in the prior year. Total assets slightly increased, while total deposits saw a modest decrease.

Key Highlights

Net income was $8.99 million, a 27.07% increase from $7.08 million in Q1 2025.
Diluted EPS reached $0.80, up 27.0% from $0.63 in the first quarter of 2025.
Net interest income grew 16.24% to $20.69 million, compared to $17.80 million in Q1 2025.
Total assets stood at $3.20 billion as of March 31, 2026, a slight rise from $3.19 billion.
Total deposits were $2.66 billion, down from $2.71 billion as of March 31, 2025.
Non-performing loans to total loans increased to 0.67% from 0.25% in Q1 2025.
Cash dividends declared were $0.37 per share, up from $0.36 per share in Q1 2025.
Net Interest Margin Tax-Equivalent improved to 2.86% from 2.48% in Q1 2025.

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First Bancorp, Inc /ME/

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