First Bancorp FY 2023 net income down 24.3%; EPS $2.66 vs $3.53 prior year

First Bancorp, Inc /ME/

2023-FY EPS reported $2.66

Net income $29.5M, down 24.3% YoY; diluted EPS $2.66, down 24.6%.
Total loans grew 11.2% to $2.13B; deposits up 9.3% to $2.60B.
Net interest margin narrowed to 2.49% from 3.15%; efficiency ratio worsened to 52.43%.
Non-performing assets remain low at 0.07%; net charge-offs 0.01%.
Quarterly dividend $0.35 per share, paid Jan 19, 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First Bancorp, Inc /ME/ reported three months ended December 31, 2023 results: net income $6.7 million, EPS $0.60.

Period: three months ended December 31, 2023
Net income: $6.7 million
EPS: $0.60
Result: reported results

Exact text from the filing

Unaudited net income was $6.7 million, a decrease of 27.4% from the final three months of 2022. Earnings per share on a fully diluted basis for the fourth quarter of 2023 were $0.60

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First Bancorp, Inc /ME/ reported year ended December 31, 2023 results: net income $29.5 million, EPS $2.66 per share.

Period: year ended December 31, 2023
Net income: $29.5 million
EPS: $2.66 per share
Result: reported results

Exact text from the filing

Unaudited net income was $29.5 million, a decrease of 24.3% from the $39.0 million reported for the year ended December 31, 2022. Earnings per common share on a fully diluted basis were down $0.87 to $2.66 per share

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Source: SEC EDGAR

accession 0000765207-24-000004

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