First Bancorp Q4 net income $7.3M, EPS $0.65; FY EPS $2.43; NIM improves to 2.42%

First Bancorp, Inc /ME/

2024-FY EPS reported $2.43

Q4 net income $7.3M, up 9% YoY; diluted EPS $0.65 vs $0.60; FY net income $27.0M, down 8% from $29.5M.
Net interest margin improved 10 bps to 2.42% from Q3; NII $17.55M, up 7% linked quarter.
Total loans grew $211.5M (9.9%) for the year; core deposits up $81M; NPL ratio 0.18% vs 0.10% last year.
Q4 dividend $0.36 per share declared, paid Jan 16, 2025; up from $0.35 in Q4 2023.
Efficiency ratio improved to 53.39% in Q4 from 56.37% in Q3; PTPP ROA 1.09% for 2024.

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