First Bancorp, Inc /ME/

First Bancorp declared a quarterly cash dividend of $0.38 per share, marking an increase of $0.01 from the previous four quarters. This dividend is payable on July 17, 2026, to shareholders of record as of July 7, 2026. This increase represents the 12th consecutive year the company has raised its second-quarter dividend by at least one cent, demonstrating a commitment to shareholder returns. The annualized dividend of $1.52 per share offers an attractive yield of 4.46% based on the recent closing price.

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.

First Bancorp, Inc. announced the election of Cornelius "Connie" Russell as the new chair of its board of directors, effective April 29, 2026. Mr. Russell has served as a Director since 2014 and held various committee leadership roles. He succeeds Bruce Tindal, who retired from the board on the same date after serving as chair since 2023.

First Bancorp reported strong first-quarter results for 2026, with net income increasing by 27.1% to $9.0 million and diluted earnings per share rising 26.2% to $0.80. The company saw significant net interest margin expansion of 38 basis points to 2.86% and an improved efficiency ratio of 52.64%. These results were driven by strong operational performance and loan growth of $11.0 million during the quarter.