First Bancorp Inc ME
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
FNLC$37.01-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income and Comprehensive Income (Unaudited)
| For the three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Interest income | ||
| Interest and fees on loans (includes YTD tax-exempt income of $521,000 for March 31, 2024 and $329,000 for March 31, 2023) | $30,204,000 | $24,125,000 |
| Interest on deposits with other banks | 78,000 | 40,000 |
| Interest and dividends on investments (includes YTD tax-exempt income of $1,995,000 for March 31, 2024 and $2,002,000 for March 31, 2023) | 4,706,000 | 4,749,000 |
| Total interest income | 34,988,000 | 28,914,000 |
| Interest expense | ||
| Interest on deposits | 19,177,000 | 10,917,000 |
| Interest on borrowed funds | 931,000 | 522,000 |
| Total interest expense | 20,108,000 | 11,439,000 |
| Net interest income | 14,880,000 | 17,475,000 |
| Provision for credit losses - loans | 99,000 | 550,000 |
| Provision (reduction) for credit losses - debt securities HTM | (252,000) | — |
| Provision (reduction) for credit losses - off-balance sheet credit exposures | (360,000) | — |
| Total provision (reduction) for credit losses | (513,000) | 550,000 |
| Net interest income after provision for credit losses | 15,393,000 | 16,925,000 |
| Non-interest income | ||
| Investment management and fiduciary income | 1,188,000 | 1,146,000 |
| Service charges on deposit accounts | 499,000 | 437,000 |
| Mortgage origination and servicing income, net of amortization | 130,000 | 192,000 |
| Debit card income | 1,186,000 | 1,185,000 |
| Other operating income | 637,000 | 609,000 |
| Total non-interest income | 3,640,000 | 3,569,000 |
| Non-interest expense | ||
| Salaries and employee benefits | 6,057,000 | 5,720,000 |
| Occupancy expense | 866,000 | 868,000 |
| Furniture and equipment expense | 1,389,000 | 1,303,000 |
| FDIC insurance premiums | 564,000 | 344,000 |
| Amortization of identified intangibles | 7,000 | 7,000 |
| Other operating expense | 2,878,000 | 2,608,000 |
| Total non-interest expense | 11,761,000 | 10,850,000 |
| Income before income taxes | 7,272,000 | 9,644,000 |
| Income tax expense | 1,251,000 | 1,673,000 |
| NET INCOME | $6,021,000 | $7,971,000 |
| Basic earnings per common share | $0.55 | $0.73 |
| Diluted earnings per common share | $0.54 | $0.72 |
| Other comprehensive income (loss) net of tax | ||
| Net unrealized (loss) gain on securities available for sale, net of taxes | $(3,241,000) | $4,181,000 |
| Net unrealized gain on transferred securities, net of taxes | 2,000 | 4,000 |
| Net unrealized gain (loss) on hedging derivative instruments | 435,000 | (2,736,000) |
| Other comprehensive (loss) gain | (2,804,000) | 1,449,000 |
| Comprehensive income | $3,217,000 | $9,420,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.