First Bancorp Inc (NASDAQ: FNLC) is a Maine-based community banking company that operates through its wholly owned subsidiary, First National Bank, providing commercial loans, residential mortgages, consumer lending, and wealth management services. Revenue comes primarily from net interest income on loans and investment securities, supplemented by non-interest income including wealth management fees, mortgage servicing fees, and other service charges. The Bank focuses on small and medium-sized business lending and individual customers within its primary Maine market area, competing against other Maine community banks, large out-of-state banks, and local credit unions. As of December 31, 2025, the Company had 18 branch locations across Maine, 283 employees, and 11,222,363 shares of common stock outstanding. Non-interest income totaled $17.3 million for FY2025, with Wealth Management revenue growing 9.3% year-over-year. Return on average assets was 1.08% and return on average tangible common equity was 14.50% for FY2025. Dividends paid totaled $1.47 per share in FY2025, representing 47.39% of basic earnings per share.

Revenue model

Net interest income from commercial real estate loans, construction loans, commercial and industrial loans, residential mortgages, home equity lines, and consumer loans, plus non-interest income from wealth management fees, mortgage loan servicing fees (generally 0.25% of outstanding loan balance per annum), and other service charges. Non-interest income was $17.3 million in FY2025.

Products and services

Commercial real estate loans (owner-occupied and non-owner-occupied), construction loans, multifamily loans, commercial and industrial loans, agricultural loans, municipal loans, residential mortgage loans, home equity revolving and term loans, consumer loans, mortgage loan origination and servicing, wealth management and trust services, online and mobile banking, investment services.

Customers and end markets

Small and medium-sized businesses, individual consumers, and municipal entities within Maine. Wealth management clients across account sizes. End markets include commercial real estate, agriculture, residential housing, and consumer finance.

Value-chain role

Direct originator and servicer of loans; deposit-taking institution; wealth management and trust service provider. Sells originated mortgage loans and retains servicing rights. Operates as a community bank holding company with First National Bank as its sole subsidiary.

Geographic exposure

Primary market area in Maine. 18 branch locations as of December 31, 2025, including locations in Penobscot County (two branches, including a de novo branch opened in Brewer, Maine on January 31, 2022) and Belfast, Maine (branch acquired from Bangor Savings Bank in December 2020).

Competitors

Maine-based community banks, Bangor Savings Bank, Large out-of-state banks, Local credit unions, Brokerage houses, Mortgage companies, Insurance companies

Source: SEC 10-K, filed 2026-03-06

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