Moodys Investors Service - The First Bancorp Inc. (FNLC) First BanCorp: Update After Affirmation of B1 Long Term Deposits and Outlook Change to Stable from Negative

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Moody's Investors Service

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First BanCorp: Update After Affirmation of B1 Long Term Deposits and Outlook Change to Stable from Negative

FINANCIAL INSTITUTIONS CREDIT OPINION 17 February 2017 Update Analyst Contacts Jeanne Del Casino 212-553-4078 VP-Sr Credit Officer [email protected] Joseph Pucella 212-553-7455 VP-Sr Credit Officer [email protected] Hiroko Kawakami 212-553-3805 Associate Analyst [email protected] Sean Jones 212-553-0845 Associate Managing Director

17/02/2017 8 EN

Underlying

The First Bancorp Inc.

First Bancorp is a financial holding company. Through its wholly-owned subsidiary, First National Bank (the Bank), the company provides a range of financial services to individuals and companies in coastal Maine. These services include demand, time, and savings deposits; lending; automated teller machine processing; and investment management and trust services. In addition to banking services, the company provides investment management and private banking services through First National Wealth Management, which is an operating division of the Bank. The company's lending activities include commercial loans, municipal loans, residential loans, home equity loans, and consumer loans.

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US31866P1021 NASDAQ Stock Market United States

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Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

130 countries
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76,000 structured finance obligations

Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.

Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.

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The First Bancorp Announces First Quarter Results

DAMARISCOTTA, Maine--(BUSINESS WIRE)-- The First Bancorp (Nasdaq: FNLC), parent company of First National Bank, today announced operating results for the three months ended March 31, 2024. Unaudited net income for the period was $6.0 million as compared to net income of $8.0 million for the quarter ended March 31, 2023, and net income of $6.7 million for the prior quarter ended December 31, 2023. Diluted earnings per share were $0.54, $0.72 and $0.60 for those same periods, respectively. CEO COMMENTS "The first quarter of 2024 was in many ways a continuation of the primary themes and chall...

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DAMARISCOTTA, Maine--(BUSINESS WIRE)-- The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 35 cents per share. This first quarter dividend is payable April 19, 2024 to shareholders of record as of April 9, 2024. "I'm pleased to announce a first quarter dividend of 35 cents per share", remarked President & Chief Executive Officer, Tony C. McKim. "The quarterly dividend remains an important component of the value we offer our shareholders. Based on the March 27, 2024 closing price of $23.89 per share, the annualized dividend ...

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DAMARISCOTTA, Maine--(BUSINESS WIRE)-- The First Bancorp (Nasdaq: FNLC), parent company of First National Bank, today announced operating results for the year ended December 31, 2023. Unaudited net income was $29.5 million, a decrease of 24.3% from the $39.0 million reported for the year ended December 31, 2022. Earnings per common share on a fully diluted basis were down $0.87 to $2.66 per share, a decrease of 24.6% from the prior year. The Company also announced operating results for the three months ended December 31, 2023. Unaudited net income was $6.7 million, a decrease of 27.4% from the...

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First BanCorp: Update After Affirmation of B1 Long Term Deposits and Outlook Change to Stable from Negative

The First Bancorp Announces First Quarter Results

The First Bancorp Declares First Quarter Dividend

The First Bancorp Reports Results for 2023

Moody's Ratings assigns A1 to San Francisco Airport Commission CA's Second Series Revenue Refunding Bonds, Series 2024ABC; stable outlook

Hawaii (State of) Airport Enterprise: Update to credit analysis

Moody's Ratings affirms Coca-Cola FEMSA's ratings, stable outlook

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