First Bancorp Q3 net income $7.6M, EPS $0.68; NIM expands 11bp to 2.32%

First Bancorp, Inc /ME/

2024-Q3 EPS reported $1.78

Net income $7.6M ($0.68 diluted EPS) up 22.7% from Q2; PTPP earnings $8.5M.
Net interest income $16.4M (best in six quarters); NIM up 11bp to 2.32% as asset yields rose.
Loans grew at annualized 10.6% to $2.31B; total assets $3.14B, up $57.6M in Q3.
NPAs/total assets 0.08%; ACL/loans 1.04%; net charge-offs annualized 0.005%. Tangible book value per share $20.27.

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