First Bancorp Inc ME
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 8, 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 Cash Flows (Unaudited)
The First Bancorp, Inc. and Subsi diary
| For the nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net income | $19,763,000 | $22,839,000 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation | 1,657,000 | 1,563,000 |
| Change in deferred taxes | 111,000 | (1,283,000) |
| Credit loss (reduction) expense | (639,000) | 501,000 |
| Loans originated for resale | (3,146,000) | (3,082,000) |
| Proceeds from sales and transfers of loans | 3,231,000 | 3,157,000 |
| Net gain on sales of loans | (85,000) | (68,000) |
| Net amortization of premiums on investments | 444,000 | 423,000 |
| Net gain on sale of other real estate owned | — | (42,000) |
| Provision for losses on other real estate owned | 35,000 | — |
| Equity compensation expense | 680,000 | 607,000 |
| Net increase in other assets and accrued interest | (6,297,000) | (6,858,000) |
| Net (decrease) increase in other liabilities | (1,649,000) | 8,156,000 |
| Net loss on disposal of premises and equipment | 9,000 | 33,000 |
| Amortization of investment in limited partnership | 504,000 | 227,000 |
| Net acquisition amortization | 20,000 | 20,000 |
| Net cash provided by operating activities | 14,638,000 | 26,193,000 |
| Cash flows from investing activities | ||
| Increase in interest-bearing deposits in other banks | (13,711,000) | (34,673,000) |
| Proceeds from maturities, payments and calls of securities available for sale | 20,982,000 | 17,037,000 |
| Proceeds from maturities, payments, calls and sales of securities to be held to maturity | 10,495,000 | 6,023,000 |
| Proceeds from sales of other real estate owned | — | 106,000 |
| Purchases of securities available for sale | (17,762,000) | (29,409,000) |
| Purchases of securities to be held to maturity | (2,750,000) | — |
| Change in restricted equity securities | (3,035,000) | — |
| Redemption of restricted equity securities | — | 23,000 |
| Net increase in loans | (178,096,000) | (165,280,000) |
| Capital expenditures | (496,000) | (2,253,000) |
| Proceeds from disposal of premises and equipment | — | 3,000 |
| Net cash used by investing activities | (184,373,000) | (208,423,000) |
| Cash flows from financing activities | ||
| Net increase in demand, savings, and money market accounts | 47,977,000 | 79,565,000 |
| Net increase in certificates of deposit | 55,079,000 | 141,495,000 |
| Net decrease in short-term borrowings | (13,625,000) | (20,490,000) |
| Advances on long-term borrowings | 95,000,000 | — |
| Payment to repurchase common stock | (212,000) | (248,000) |
| Proceeds from sale of common stock | 638,000 | 608,000 |
| Dividends paid | (11,928,000) | (11,534,000) |
| Net cash provided by financing activities | 172,929,000 | 189,396,000 |
| Net increase in cash and cash equivalents | 3,194,000 | 7,166,000 |
| Cash and cash equivalents at beginning of period | 31,942,000 | 22,728,000 |
| Cash and cash equivalents at end of period | $35,136,000 | $29,894,000 |
| For the nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Interest paid | $63,260,000 | $43,643,000 |
| Income taxes paid | 3,577,000 | 4,500,000 |
| Non-cash transactions | ||
| Change in net unrealized loss on available for sale securities, net of tax | $(5,181,000) | $9,134,000 |
| Net transfer from loans to other real estate owned | 208,000 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.