First Bancorp, Inc /ME/

During the first six months of 2025, total deposits decreased by $19.9 million or 0.7% from December 31, 2024 levels. The Bank generally experiences a modest decline in deposit balances in the first six months of each year due to seasonal effects. In the first six months of 2025 low-cost deposits (demand, NOW, and savings accounts) decreased by $95.5 million or 7.7% . Money market deposits increased $11.6 million or 3.1%, and certificates of deposit increased $64.0 million or 5.7% as depositors shifted balances to higher cost product types and brokered certificates of deposit were issued to support earning asset growth. The decrease in low-cost deposits for the period was consistent with Management's estimates based upon historical seasonal deposit behaviors.

Between June 30, 2024 and June 30, 2025, total deposits increased by $127.3 million or 4.9%. Low-cost deposits decreased by $10.9 million or 1.0%, money market accounts increased $71.1 million or 22.4%, and certificates of deposit increased $67.1 million or 6.0%.

Estimated uninsured deposits totaled $479.3 million or 17.7% of total deposits as of June 30, 2025, and $506.2 million or 18.6% of total deposits as of December 31, 2024. The company has pledged assets as collateral covering certain deposits; these amounts were $347.7 million and $349.8 million as of June 30, 2025 and December 31, 2024, respectively.