First Bancorp Inc ME
For the period ended Jun 30, 2024. Filed Aug 9, 2024.
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Jun 30, 2024 · Filed Aug 9, 2024
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Non-Interest Income
Non-interest income of $7.8 million for the six months ended June 30, 2024 is an increase of $358,000 compared to the same period in 2023. Service charges on deposit accounts were up $107,000, or 11.5%, debit card revenue was up $43,000, or 1.7%, and revenue at First National Wealth Management increased $102,000 or 4.3%. Over the same period, Mortgage banking revenue was down $68,000, or 17.6%; the decrease is attributable to a year-to-year decrease in mortgage origination activity and marks against mortgage servicing rights. Non-interest income of $4.2 million for the quarter ended June 30, 2024 is an increase of $287,000 compared to the same period in 2023, due primarily to a 21.5% increase in other operating income led by loan related fees, coupled with increases in investment management fees and service charges consistent with year-to-date performance.
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