The First Bancorp Announces Third Quarter Results
First Bancorp, Inc (ME) (FNLC)
US:NASDAQ Investor Relations:
snl.com/irweblinkx/corporateprofile.aspx?iid=4041406
Company Research
Source: Business Wire
2024 Q3 Results Driven by Loan Growth, Net Interest Margin Expansion, and Continued Strong Asset Quality DAMARISCOTTA, Maine--(BUSINESS WIRE)--The First Bancorp (Nasdaq: FNLC), ("the Company", "we", "us", "our"), parent company of First National Bank, today reported unaudited net income of $7.6 million with diluted earnings per share of $0.68 for the quarter ended September 30, 2024. The Company also reported results for the nine months ended September 30, 2024. Net income year-to-date in 2024 was $19.8 million, with diluted earnings per share of $1.78.Third Quarter Notable Items:Net Income growth of 22.7% from Q2; diluted EPS growth of 22.6%Net Interest Income at its highest level in six quartersNet Interest Margin increased by 11 basis points from Q2Total assets reached $3.14 billion, an increase of $57.6 million in Q3Loan balances grew in Q3 at an annualized rate of 10.6% to $2.31 billionRatio of Non-Performing Assets to Total Assets of 0.08%Quarterly shareholder dividend of $0.
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Sec Filings
- 11/8/24 - Form 10-Q
- 10/23/24 - Form 8-K
- 10/18/24 - Form 13F-HR
- FNLC's page on the SEC website