---
schema_version: "secwatch.filing_event.v1"
accession: "0000765207-23-000015"
form_type: "8-K"
ticker: "FNLC"
cik: "0000765207"
company_name: "First Bancorp, Inc /ME/"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-17T00:03:09.478500+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Bancorp Q1 net income $8.0M ($0.72 EPS) down 18% YoY; loans up $68M

## Summary
- Net income $8.0M ($0.72 diluted EPS) vs $9.7M ($0.88) in Q1 2022; margin pressure and lower fee income cited.
- Net interest margin fell to 2.78% from 3.24% YoY as cost of funds rose; PTPP income down 16.5%.
- Loans grew $68.2M to $1.98B (14.4% annualized); deposits up $87.8M to $2.47B.
- Adopted CECL; allowance for credit losses increased to 1.18% of loans from 0.87% at Dec 2022.
- Quarterly dividend $0.34/share declared; non-performing assets remain at 0.06% of total assets.

## SEC filing metadata
- accession: 0000765207-23-000015
- form_type: 8-K
- ticker: FNLC
- cik: 0000765207
- company_name: First Bancorp, Inc /ME/
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/765207/000076520723000015/0000765207-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/765207/000076520723000015/fnlc-20230419.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000765207-23-000015
- JSON: https://secwatch.observer/filing/0000765207-23-000015.json
- Plain text: https://secwatch.observer/filing/0000765207-23-000015.txt

## Key facts
- Earnings Releases
  First Bancorp, Inc /ME/ reported the three months ended March 31, 2023 results: net income $8.0 million, EPS $0.72 per diluted share.
  - Period: the three months ended March 31, 2023
  - Net income: $8.0 million
  - EPS: $0.72 per diluted share
  - Result: reported results
  source text: Unaudited net income for the period was $8.0 million representing diluted earnings per share of $0.72
  evidence_url: https://www.sec.gov/Archives/edgar/data/765207/000076520723000015/0000765207-23-000015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.