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First Bancorp, Inc /ME/

For the period ended Sep 30, 2026. Filed Nov 5, 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.

Sep 30, 2026 · Filed Nov 5, 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 September 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 November 1, 2026

Common Stock:11,290,036 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 – Loans16
Note 4 – Allowance for Credit Losses27
Note 5 – Stock-Based Compensation41
Note 6 – Common Stock41
Note 7 – Earnings Per Share41
Note 8 – Employee Benefit Plans42
Note 9 – Other Comprehensive Income (Loss)43
Note 10 – Financial Derivative Instruments44
Note 11 – Mortgage Servicing Rights46
Note 12 – Income Taxes47
Note 13 – Certificates of Deposit47
Note 14 – Reclassifications47
Note 15 – Fair Value Disclosures47
Note 16 – Impact of Recently Issued Accounting Standards53
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations54
Forward-Looking Statements54
Critical Accounting Policies54
Use of Non-GAAP Financial Measures56
Executive Summary57
Net Interest Income58
Average Daily Balance Sheets61
Non-Interest Income62
Non-Interest Expense62
Income Taxes62
Investments62
Debt Securities-Unrealized Loss Position64
Federal Home Loan Bank Stock65
Loans and Loans Held for Sale66
Credit Risk Management and Allowance for Credit Losses68
Non-Performing Loans and Loan Modifications72
Past Due Loans74
Potential Problem Loans and Loans in Process of Foreclosure74
Other Real Estate Owned75
Liquidity75
Deposits76
Borrowed Funds76
Capital Resources76
Off-Balance-Sheet Financial Instruments and Contractual Obligations77
Item 3 – Quantitative and Qualitative Disclosures About Market Risk79
Market-Risk Management79
Asset/Liability Management79
Interest Rate Risk Management80
Item 4 - Controls and Procedures81
Part II. Other Information82
Item 1 – Legal Proceedings82
Item 1a – Risk Factors82
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds82
Item 3 – Default Upon Senior Securities82
Item 4 – Mine Safety Disclosures82
Item 5 – Other Information82
Item 6 – Exhibits83
Signatures84
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.