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First Bancorp, Inc /ME/

For the period ended Jun 30, 2026. Filed Aug 7, 2026.

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About 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.

Jun 30, 2026 · Filed Aug 7, 2026

FNLC$36.41-0.5%Stored close · as of Nov 6, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

☒ Quarterly Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

For the quarterly period ended June 30, 2026

Commission File Number 0-26589

THEFIRST BANCORP, INC.

(Exact name of Registrant as specified in its charter)

Maine01-0404322
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
223 Main StreetDamariscottaMaine04543
(Address of principal executive offices)(Zip code)

(207)563-3195

Registrant's telephone number, including area code

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of each exchange on which registered
Common Stock, par value $0.01 per shareFNLCNASDAQ Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer☐ Accelerated filer ☒ Non-accelerated filer☐ Smaller reporting company☐

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended

transition period for complying with any new or revised financial accounting standards provided pursuant to

Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes☐ No☒

Indicate the number of shares outstanding of each of the registrant's classes of common stock as of August 1, 2026

Common Stock:11,282,340 shares

Table of Contents

Part I. Financial Information1
Selected Financial Data (Unaudited)1
Item 1 – Financial Statements2
Report of Independent Registered Public Accounting Firm2
Consolidated Balance Sheets (Unaudited)3
Consolidated Statements of Income and Comprehensive Income (Unaudited)4
Consolidated Statements of Changes in Shareholders' Equity (Unaudited)5
Consolidated Statements of Cash Flows (Unaudited)7
Notes to Consolidated Financial Statements9
Note 1 – Basis of Presentation9
Note 2 –Investment Securities10
Note 3 – Loans15
Note 4 – Allowance for Credit Losses26
Note 5 – Stock-Based Compensation40
Note 6 – Preferred and Common Stock40
Note 7 – Earnings Per Share40
Note 8 – Employee Benefit Plans41
Note 9 – Other Comprehensive Income (Loss)42
Note 10 – Financial Derivative Instruments43
Note 11 – Mortgage Servicing Rights45
Note 12 – Income Taxes46
Note 13 – Certificates of Deposit46
Note 14 – Reclassifications46
Note 15 – Fair Value Disclosures46
Note 16 – Impact of Recently Issued Accounting Standards52
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations53
Forward-Looking Statements53
Critical Accounting Policies53
Use of Non-GAAP Financial Measures55
Executive Summary56
Net Interest Income57
Average Daily Balance Sheets60
Non-Interest Income61
Non-Interest Expense61
Income Taxes61
Investments61
Debt Securities-Unrealized Loss Position63
Federal Home Loan Bank Stock64
Loans and Loans Held for Sale65
Credit Risk Management and Allowance for Credit Losses67
Non-Performing Loans and Loan Modifications71
Past Due Loans73
Potential Problem Loans and Loans in Process of Foreclosure73
Other Real Estate Owned74
Liquidity74
Deposits74
Borrowed Funds75
Capital Resources75
Off-Balance-Sheet Financial Instruments and Contractual Obligations76
Item 3 – Quantitative and Qualitative Disclosures About Market Risk78
Market-Risk Management78
Asset/Liability Management78
Interest Rate Risk Management79
Item 4 - Controls and Procedures80
Part II. Other Information81
Item 1 – Legal Proceedings81
Item 1a – Risk Factors81
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds81
Item 3 – Default Upon Senior Securities81
Item 4 – Mine Safety Disclosures81
Item 5 – Other Information81
Item 6 – Exhibits82
Signatures83
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.