secwatch.observer — SEC 8-K summary
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Issuer:     First Bancorp, Inc /ME/ (FNLC)
CIK:        0000765207
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0000765207-23-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/765207/000076520723000015/0000765207-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/765207/000076520723000015/fnlc-20230419.htm
  HTML page:      https://secwatch.observer/filing/0000765207-23-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer