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FNLC

The First Bancorp, Inc.

FNLC

The First Bancorp, Inc. • NASDAQ
$25.59 ▼ -0.93% (-0.24)
Market Cap $287.09 M
52w High $29.33
52w Low $22.11
Dividend Yield 1.46%
P/E 9.11
Volume 7.56K
Outstanding Shares 11.22M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $45.48M ▲ $12.754M ▲ $9.082M ▲ 19.969% ▲ $0.82 ▲ $11.633M ▲
Q2-2025 $43.953M ▲ $12.199M ▼ $8.063M ▲ 18.345% ▲ $0.73 ▲ $10.39M ▲
Q1-2025 $42.71M ▼ $12.844M ▲ $7.077M ▼ 16.57% ▼ $0.64 ▼ $9.118M ▼
Q4-2024 $43.673M ▲ $12.145M ▲ $7.282M ▼ 16.674% ▼ $0.65 ▼ $9.232M ▼
Q3-2024 $42.409M $12M $7.571M 17.852% $0.69 $9.731M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $38.842M ▼ $3.198B ▼ $2.924B ▼ $274.566M ▲
Q2-2025 $308.861M ▼ $3.2B ▲ $2.934B ▲ $265.492M ▲
Q1-2025 $310.134M ▼ $3.187B ▲ $2.928B ▲ $259.681M ▲
Q4-2024 $324.416M ▼ $3.157B ▲ $2.905B ▲ $252.493M ▼
Q3-2024 $337.356M $3.143B $2.886B $256.783M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-36.708M ▼ $0 ▼ $0 ▲ $0 ▼ $0 ▼ $0 ▼
Q2-2025 $8.063M ▲ $7.367M ▲ $-7.251M ▲ $812K ▼ $928K ▲ $7.232M ▲
Q1-2025 $7.077M ▼ $2.18M ▼ $-24.683M ▲ $21.299M ▲ $-1.204M ▲ $828K ▼
Q4-2024 $7.282M ▼ $11.409M ▲ $-33.047M ▲ $14.138M ▼ $-7.5M ▼ $10.43M ▲
Q3-2024 $7.571M $9.757M $-43.688M $41.251M $7.32M $9.646M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Debit Card
Debit Card
 $0 ▲$0 ▲$0 ▲$0 ▲
Deposit Account
Deposit Account
 $0 ▲$0 ▲$0 ▲$0 ▲
Fiduciary and Trust
Fiduciary and Trust
 $0 ▲$0 ▲$0 ▲$0 ▲
Mortgage Banking
Mortgage Banking
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended upward over the last several years, which is encouraging for a regional bank. However, profitability peaked a few years ago and has eased since then, even as revenue continued to climb. This pattern usually points to pressure on lending margins, higher funding costs, or rising operating expenses. Earnings per share followed the same arc: strong improvement into the early 2020s, then some slippage more recently. Overall, the income statement shows a healthy, growing franchise, but with less profit per dollar of revenue than at its best point, suggesting a more challenging interest-rate and cost environment.

Balance Sheet

Balance Sheet The balance sheet has expanded steadily, showing consistent growth in loans and other earning assets. Equity has also grown over time, which supports the bank’s ability to absorb shocks and continue lending. Cash balances are relatively modest, but that is typical for a community bank that relies on loans and securities as its primary assets. Borrowings have moved up from earlier levels, indicating a bit more reliance on wholesale funding or longer-term debt than in the past, but not in a way that appears excessive based on the parallel build in assets and equity. Overall, it looks like a traditional, conservatively managed community bank balance sheet with moderate leverage and a gradual build in capital.

Cash Flow

Cash Flow Cash flow from operations has consistently been positive, which is important for a lender that must fund loans and day‑to‑day activities from internal sources. Free cash flow has also been positive each year, helped by very light capital spending requirements since banking is not asset‑heavy in the physical sense. The pattern suggests the bank generates enough internal cash to support its growth, maintain its infrastructure, and still have room for shareholder returns or balance‑sheet strengthening. There is some year‑to‑year variability, but nothing that stands out as structurally worrisome.

Competitive Edge

Competitive Edge FNLC competes as a community‑focused regional bank, leaning heavily on local relationships, customer service, and knowledge of its Maine markets. Its edge comes from combining that community presence with a reasonably full digital offering—online and mobile banking, mobile check deposit, peer‑to‑peer payments, and integrated financial tools. The dedicated wealth management arm and targeted business solutions (such as hospitality‑focused services) deepen client relationships and make it harder for larger national banks or pure online players to displace them. The moat is not about scale or cutting‑edge fintech, but about stickiness of local relationships, tailored service, and a wider set of services than a basic community bank typically offers.

Innovation and R&D

Innovation and R&D While FNLC is not a pure technology disruptor, it has steadily layered digital capabilities onto its traditional model. Retail customers get a modern digital platform with tools that aggregate accounts and support budgeting, while business clients benefit from remote deposit, electronic payment services, and specialized industry platforms through partners. The wealth management unit uses more advanced technology and data tools to deliver planning and portfolio services. Innovation here is practical rather than flashy—focused on convenience, integration with partners, and niche industry solutions. Future upside will depend on how well the bank continues to enhance these tools, use data to personalize offerings, and selectively expand its specialized partnerships.

Summary

Overall, FNLC looks like a steadily growing community bank that has successfully adapted to the digital era without losing its local focus. Revenue has increased over time, though profit margins have come off their peak, reflecting the tougher interest‑rate and cost backdrop for regional banks. The balance sheet appears conservatively built, with growing capital and manageable leverage, and cash generation has been consistently positive. Competitively, the bank leans on local relationships, a full suite of digital services, wealth management, and targeted business solutions rather than on scale or cutting‑edge fintech. The main opportunities lie in deepening those niches and continuing to upgrade its digital and data capabilities, while the key risks center on interest‑rate swings, credit quality in its local markets, and ongoing competition from both large national banks and online‑only players.

NEWS

October 22, 2025 · 4:15 PM UTC

The First Bancorp Announces Third Quarter Results

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September 25, 2025 · 4:15 PM UTC

The First Bancorp Declares Third Quarter Dividend

Read more