secwatch.observer — SEC 8-K summary
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Issuer:     First Bancorp, Inc /ME/ (FNLC)
CIK:        0000765207
Form:       8-K
Filed at:   2023-07-19T23:59:59+00:00
Accession:  0000765207-23-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Bancorp Q2 net income falls to $7.4M ($0.67 EPS) on margin compression
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- Net income $7.4M, down 7.2% from Q1 2023 and 26% from Q2 2022; diluted EPS $0.67 vs $0.91 a year ago.
- Net interest margin 2.46%, down from 3.13% YoY and 2.78% in Q1; net interest income $15.9M (-8.8% QoQ).
- Loans grew $78.1M in Q2 to $2.06B (annualized 15.4%); deposits up $33.2M to $2.50B.
- Dividend raised to $0.35/share from $0.34, payable July 20, 2023; payout ratio 52.2%.
- Non-performing assets to total assets stable at 0.06%; ACL 1.14% of loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/765207/000076520723000038/0000765207-23-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/765207/000076520723000038/fnlc-20230719.htm
  HTML page:      https://secwatch.observer/filing/0000765207-23-000038

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