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First Bancorp, Inc (ME) (FNLC) Financials

First Bancorp, Inc (ME) logo
$25.76 -0.38 (-1.44%)
Closing price 03:58 PM Eastern
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$25.76 0.00 (0.00%)
As of 04:10 PM Eastern
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Annual Income Statements for First Bancorp, Inc (ME)

Annual Income Statements for First Bancorp, Inc (ME)

This table shows First Bancorp, Inc (ME)'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 39 30 27
Consolidated Net Income / (Loss)		 39 30 27
Net Income / (Loss) Continuing Operations		 39 30 27
Total Pre-Tax Income 		47 36 33
Total Revenue		 93 81 80
Net Interest Income / (Expense)		 76 65 64
Total Interest Income		 93 128 149
Loans and Leases Interest Income		 76 108 129
Investment Securities Interest Income		 17 19 19
Deposits and Money Market Investments Interest Income		 0.32 0.52 0.55
Total Interest Expense		 17 63 85
Deposits Interest Expense		 15 61 79
Long-Term Debt Interest Expense		 1.51 1.96 5.51
Total Non-Interest Income		 17 15 16
Other Service Charges		 2.67 2.70 3.09
Net Realized & Unrealized Capital Gains on Investments		 0.01 0.00 0.00
Other Non-Interest Income		 14 13 13
Provision for Credit Losses		 1.75 1.33 1.30
Total Non-Interest Expense		 44 44 47
Salaries and Employee Benefits		 23 22 24
Net Occupancy & Equipment Expense		 8.11 8.71 9.00
Property & Liability Insurance Claims		 1.07 1.96 2.39
Other Operating Expenses		 11 11 12
Amortization Expense		 0.07 0.03 0.03
Nonoperating Income / (Expense), net		 0.00 0.14 0.54
Income Tax Expense		 8.40 6.18 5.54
Basic Earnings per Share		 $3.56 $2.68 $2.45
Weighted Average Basic Shares Outstanding		 11.08M 11.13M 11.20M
Diluted Earnings per Share		 $3.53 $2.66 $2.43
Weighted Average Diluted Shares Outstanding		 11.08M 11.13M 11.20M
Weighted Average Basic & Diluted Shares Outstanding		 11.08M 11.13M 11.20M
Cash Dividends to Common per Share		 $1.34 $1.39 $1.43

Quarterly Income Statements for First Bancorp, Inc (ME)

This table shows First Bancorp, Inc (ME)'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -4.42 36 9.42 7.39 7.47 5.23 6.02 6.17 7.57 7.28
Consolidated Net Income / (Loss)		 10 9.20 7.97 7.39 7.47 6.68 6.02 6.17 7.57 7.28
Net Income / (Loss) Continuing Operations		 10 9.20 7.97 7.39 7.47 6.68 6.02 6.17 7.57 7.28
Total Pre-Tax Income 		12 11 9.64 8.93 9.04 8.09 7.27 7.47 9.16 8.68
Total Revenue		 24 23 21 20 20 20 19 19 21 22
Net Interest Income / (Expense)		 19 19 17 16 16 16 15 15 16 18
Total Interest Income		 24 27 29 31 33 35 35 37 38 39
Loans and Leases Interest Income		 20 22 24 26 28 29 30 32 33 34
Investment Securities Interest Income		 4.34 4.59 4.75 4.73 4.71 5.19 4.71 4.66 4.73 4.74
Deposits and Money Market Investments Interest Income		 0.09 0.15 0.04 0.05 0.21 0.22 0.08 0.06 0.06 0.36
Total Interest Expense		 4.63 7.60 11 15 17 19 20 21 22 21
Deposits Interest Expense		 4.16 7.17 11 14 17 19 19 20 20 20
Long-Term Debt Interest Expense		 0.46 0.43 0.52 0.78 0.31 0.35 0.93 1.67 1.77 1.15
Total Non-Interest Income		 4.72 3.85 3.57 3.87 3.89 4.11 3.64 4.16 4.12 4.44
Other Service Charges		 0.68 0.64 0.61 0.68 0.68 0.74 3.64 0.82 0.82 -2.19
Provision for Credit Losses		 0.40 0.45 0.55 0.03 -0.16 0.91 -0.51 0.54 -0.58 1.86
Total Non-Interest Expense		 11 12 11 11 11 11 12 11 12 12
Salaries and Employee Benefits		 5.76 6.22 5.72 5.18 5.52 5.52 6.06 5.59 6.13 6.46
Net Occupancy & Equipment Expense		 1.99 2.07 2.17 2.15 2.19 2.21 2.26 2.22 2.24 2.28
Property & Liability Insurance Claims		 0.30 0.33 0.34 0.53 0.55 0.53 0.56 0.56 0.64 0.63
Other Operating Expenses		 3.31 3.07 2.61 2.85 2.74 2.92 2.88 2.88 2.99 2.77
Amortization Expense		 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Income Tax Expense		 2.22 1.97 1.67 1.54 1.57 1.41 1.25 1.30 1.59 1.40
Basic Earnings per Share		 $0.92 $0.84 $0.73 $0.67 $0.68 $0.60 $0.55 $0.56 $0.69 $0.65
Weighted Average Basic Shares Outstanding		 11.04M 11.08M 11.08M 11.09M 11.09M 11.13M 11.14M 11.14M 11.15M 11.20M
Diluted Earnings per Share		 $0.91 $0.83 $0.72 $0.67 $0.67 $0.60 $0.54 $0.55 $0.68 $0.66
Weighted Average Diluted Shares Outstanding		 11.04M 11.08M 11.08M 11.09M 11.09M 11.13M 11.14M 11.14M 11.15M 11.20M
Weighted Average Basic & Diluted Shares Outstanding		 11.04M 11.08M 11.08M 11.09M 11.09M 11.13M 11.14M 11.14M 11.15M 11.20M

Annual Cash Flow Statements for First Bancorp, Inc (ME)

This table details how cash moves in and out of First Bancorp, Inc (ME)'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 2.09 9.21 -4.31
Net Cash From Operating Activities		 41 37 26
Net Cash From Continuing Operating Activities		 41 37 26
Net Income / (Loss) Continuing Operations		 39 30 27
Consolidated Net Income / (Loss)		 39 30 27
Provision For Loan Losses		 1.75 0.00 0.04
Depreciation Expense		 1.98 2.11 2.21
Amortization Expense		 0.98 0.44 1.65
Non-Cash Adjustments to Reconcile Net Income		 1.22 0.91 1.44
Changes in Operating Assets and Liabilities, net		 -4.02 3.94 -6.34
Net Cash From Investing Activities		 -248 -200 -217
Net Cash From Continuing Investing Activities		 -249 -200 -217
Purchase of Property, Leasehold Improvements and Equipment		 -1.40 -2.64 -1.48
Purchase of Investment Securities		 -371 -303 -245
Sale of Property, Leasehold Improvements and Equipment		 0.04 0.00 0.00
Sale and/or Maturity of Investments		 60 106 48
Other Investing Activities, net		 63 0.21 -19
Net Cash From Financing Activities		 208 172 187
Net Cash From Continuing Financing Activities		 208 172 187
Net Change in Deposits		 301 203 45
Issuance of Debt		 22 -34 77
Issuance of Common Equity		 0.80 0.82 0.87
Repayment of Debt		 -55 -0.08 0.00
Repurchase of Common Equity		 -0.28 -0.25 -0.21
Payment of Dividends		 -15 -15 -16
Other Financing Activities, Net		 -46 18 81
Cash Interest Paid		 16 62 84
Cash Income Taxes Paid		 8.01 5.62 4.53

Quarterly Cash Flow Statements for First Bancorp, Inc (ME)

This table details how cash moves in and out of First Bancorp, Inc (ME)'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 3.96 -4.68 4.73 -2.38 4.82 2.05 -8.07 3.94 7.32 -7.50
Net Cash From Operating Activities		 13 8.78 5.05 11 10 11 -1.50 6.38 9.76 11
Net Cash From Continuing Operating Activities		 13 8.48 5.05 11 10 11 -1.50 6.38 9.76 11
Net Income / (Loss) Continuing Operations		 10 9.20 7.97 7.39 7.47 6.68 6.02 6.17 7.57 7.28
Consolidated Net Income / (Loss)		 10 9.20 7.97 7.39 7.47 6.68 6.02 6.17 7.57 7.28
Depreciation Expense		 0.58 0.26 0.57 0.59 0.63 0.32 0.66 0.66 0.84 0.05
Amortization Expense		 0.27 0.17 0.13 0.15 0.17 -0.00 0.14 0.16 0.17 1.19
Non-Cash Adjustments to Reconcile Net Income		 0.85 -0.22 -0.99 0.16 0.65 1.09 0.56 - -0.40 1.28
Changes in Operating Assets and Liabilities, net		 0.99 -1.38 -3.18 2.41 2.07 2.65 -8.37 -1.12 1.54 1.61
Net Cash From Investing Activities		 -115 -3.98 -65 -73 -70 8.62 -37 -104 -44 -33
Net Cash From Continuing Investing Activities		 -115 -5.46 -65 -73 -70 8.62 -37 -104 -44 -33
Purchase of Property, Leasehold Improvements and Equipment		 -0.06 -0.24 -0.53 -0.06 -1.67 -0.38 -0.33 -0.06 -0.11 -0.98
Purchase of Investment Securities		 -85 -74 -72 -80 -43 -108 -49 -84 -69 -44
Sale of Property, Leasehold Improvements and Equipment		 0.00 - - - - - - - - 0.00
Sale and/or Maturity of Investments		 12 6.99 6.55 7.51 9.13 83 11 10 9.76 17
Other Investing Activities, net		 -43 62 0.92 -1.21 -34 35 0.58 -30 16 -4.90
Net Cash From Financing Activities		 106 -9.48 64 60 65 -17 31 101 41 14
Net Cash From Continuing Financing Activities		 106 -9.48 64 60 65 -17 31 101 41 14
Net Change in Deposits		 82 81 142 40 -40 61 -4.82 46 14 -11
Issuance of Debt		 -8.24 -15 -20 31 -11 -34 85 76 -66 -18
Issuance of Common Equity		 0.20 0.21 0.21 0.20 0.20 0.21 0.20 0.22 0.22 0.23
Repayment of Debt		 -0.00 -0.00 -0.00 -0.00 -20 20 0.00 - -14 14
Payment of Dividends		 -3.75 -3.76 -3.77 -3.88 -3.88 -3.88 -3.91 -4.01 -4.01 -3.88
Other Financing Activities, Net		 36 -73 -54 -6.80 141 -61 -46 -17 111 33
Cash Interest Paid		 4.56 7.01 11 15 17 19 20 21 22 21
Cash Income Taxes Paid		 2.53 2.27 - - 1.33 1.12 - - 0.92 0.95

Annual Balance Sheets for First Bancorp, Inc (ME)

This table presents First Bancorp, Inc (ME)'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 2,739 2,947 3,157
Cash and Due from Banks		 23 32 28
Interest Bearing Deposits at Other Banks		 3.69 3.49 22
Trading Account Securities		 683 671 652
Loans and Leases, Net of Allowance		 1,898 2,105 2,316
Loans and Leases		 1,915 2,129 2,341
Allowance for Loan and Lease Losses		 17 24 25
Premises and Equipment, Net		 28 29 28
Goodwill		 31 31 31
Other Assets		 73 76 81
Total Liabilities & Shareholders' Equity		 2,739 2,947 3,157
Total Liabilities		 2,510 2,704 2,905
Interest Bearing Deposits		 2,379 2,600 2,725
Short-Term Debt		 103 70 51
Long-Term Debt		 0.08 0.00 95
Other Long-Term Liabilities		 28 34 33
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 229 243 252
Total Preferred & Common Equity		 229 243 252
Total Common Equity		 229 243 252
Common Stock		 69 70 72
Retained Earnings		 204 212 223
Accumulated Other Comprehensive Income / (Loss)		 -44 -39 -42

Quarterly Balance Sheets for First Bancorp, Inc (ME)

This table presents First Bancorp, Inc (ME)'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 2,735 2,812 2,875 2,944 2,978 3,085 3,143
Cash and Due from Banks		 27 27 25 30 24 28 35
Interest Bearing Deposits at Other Banks		 66 2.77 3.98 38 2.91 33 17
Trading Account Securities		 670 684 674 676 660 658 669
Loans and Leases, Net of Allowance		 1,842 1,959 2,037 2,057 2,150 2,223 2,283
Loans and Leases		 1,858 1,983 2,061 2,080 2,174 2,248 2,307
Allowance for Loan and Lease Losses		 16 23 23 23 24 25 24
Premises and Equipment, Net		 29 28 28 29 28 28 27
Goodwill		 31 31 31 31 31 31 31
Other Assets		 71 79 76 83 83 84 80
Total Liabilities & Shareholders' Equity		 2,735 2,812 2,875 2,944 2,978 3,085 3,143
Total Liabilities		 2,515 2,583 2,643 2,717 2,736 2,840 2,886
Interest Bearing Deposits		 2,370 2,467 2,500 2,600 2,549 2,578 2,703
Short-Term Debt		 118 84 89 83 85 161 56
Long-Term Debt		 0.09 0.08 25 0.00 70 70 95
Other Long-Term Liabilities		 27 33 28 35 32 32 32
Total Equity & Noncontrolling Interests		 220 228 232 227 243 245 257
Total Preferred & Common Equity		 220 228 232 227 243 245 257
Total Common Equity		 220 228 232 227 243 245 257
Common Stock		 68 69 69 70 71 71 72
Retained Earnings		 199 202 206 209 214 216 220
Accumulated Other Comprehensive Income / (Loss)		 -47 -43 -43 -52 -42 -42 -34

Annual Metrics And Ratios for First Bancorp, Inc (ME)

This table displays calculated financial ratios and metrics derived from First Bancorp, Inc (ME)'s official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 8.58% -13.32% -0.47%
EBITDA Growth		 3.43% -24.33% -6.40%
EBIT Growth		 7.91% -24.97% -10.55%
NOPAT Growth		 7.50% -24.59% -9.54%
Net Income Growth		 7.50% -24.29% -8.38%
EPS Growth		 6.97% -24.65% -8.65%
Operating Cash Flow Growth		 -27.31% -10.42% -29.45%
Free Cash Flow Firm Growth		 -36.74% -44.60% -221.13%
Invested Capital Growth		 -12.98% -5.92% 27.51%
Revenue Q/Q Growth		 0.91% -4.01% 2.59%
EBITDA Q/Q Growth		 -2.22% -8.91% 3.02%
EBIT Q/Q Growth		 -0.90% -8.51% 0.39%
NOPAT Q/Q Growth		 -0.89% -8.23% 0.58%
Net Income Q/Q Growth		 -0.89% -7.86% 2.28%
EPS Q/Q Growth		 -1.12% -7.96% 2.53%
Operating Cash Flow Q/Q Growth		 -6.12% 5.56% 2.69%
Free Cash Flow Firm Q/Q Growth		 -48.80% -19.07% 17.11%
Invested Capital Q/Q Growth		 -1.73% 0.99% -2.22%
Profitability Metrics		 - - -
EBITDA Margin		 54.12% 47.25% 44.43%
EBIT Margin		 50.93% 44.09% 39.63%
Profit (Net Income) Margin		 41.91% 36.60% 33.69%
Tax Burden Percent		 82.28% 82.68% 83.00%
Interest Burden Percent		 100.00% 100.41% 102.45%
Effective Tax Rate		 17.72% 17.32% 17.00%
Return on Invested Capital (ROIC)		 10.92% 9.11% 7.48%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.92% 9.25% 7.89%
Return on Net Nonoperating Assets (RNNOA)		 5.52% 3.39% 3.44%
Return on Equity (ROE)		 16.43% 12.51% 10.91%
Cash Return on Invested Capital (CROIC)		 24.80% 15.21% -16.71%
Operating Return on Assets (OROA)		 1.80% 1.25% 1.04%
Return on Assets (ROA)		 1.48% 1.04% 0.89%
Return on Common Equity (ROCE)		 16.43% 12.51% 10.91%
Return on Equity Simple (ROE_SIMPLE)		 17.03% 12.14% 10.71%
Net Operating Profit after Tax (NOPAT)		 39 29 27
NOPAT Margin		 41.91% 36.46% 33.14%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.14% -0.42%
SG&A Expenses to Revenue		 33.78% 38.01% 41.39%
Operating Expenses to Revenue		 47.19% 54.26% 58.75%
Earnings before Interest and Taxes (EBIT)		 47 36 32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 50 38 36
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.28 1.20 1.19
Price to Tangible Book Value (P/TBV)		 1.47 1.38 1.36
Price to Revenue (P/Rev)		 3.14 3.62 3.75
Price to Earnings (P/E)		 7.49 9.90 11.13
Dividend Yield		 4.99% 5.24% 5.26%
Earnings Yield		 13.34% 10.11% 8.99%
Enterprise Value to Invested Capital (EV/IC)		 1.11 1.04 1.00
Enterprise Value to Revenue (EV/Rev)		 3.97 4.05 4.95
Enterprise Value to EBITDA (EV/EBITDA)		 7.33 8.56 11.15
Enterprise Value to EBIT (EV/EBIT)		 7.79 9.18 12.50
Enterprise Value to NOPAT (EV/NOPAT)		 9.47 11.10 14.95
Enterprise Value to Operating Cash Flow (EV/OCF)		 8.96 8.84 15.26
Enterprise Value to Free Cash Flow (EV/FCFF)		 4.17 6.65 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.45 0.29 0.58
Long-Term Debt to Equity		 0.00 0.00 0.38
Financial Leverage		 0.51 0.37 0.44
Leverage Ratio		 11.10 12.05 12.32
Compound Leverage Factor		 11.10 12.10 12.62
Debt to Total Capital		 31.13% 22.27% 36.68%
Short-Term Debt to Total Capital		 31.11% 22.27% 12.86%
Long-Term Debt to Total Capital		 0.03% 0.00% 23.82%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 68.87% 77.73% 63.32%
Debt to EBITDA		 2.06 1.83 4.10
Net Debt to EBITDA		 1.53 0.90 2.71
Long-Term Debt to EBITDA		 0.00 0.00 2.66
Debt to NOPAT		 2.65 2.37 5.50
Net Debt to NOPAT		 1.98 1.16 3.63
Long-Term Debt to NOPAT		 0.00 0.00 3.57
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 89 49 -59
Operating Cash Flow to CapEx		 3,017.06% 1,402.70% 1,770.70%
Free Cash Flow to Firm to Interest Expense		 5.25 0.78 -0.70
Operating Cash Flow to Interest Expense		 2.44 0.59 0.31
Operating Cash Flow Less CapEx to Interest Expense		 2.36 0.54 0.29
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.03 0.03
Fixed Asset Turnover		 3.25 2.83 2.84
Capital & Investment Metrics		 - - -
Invested Capital		 332 313 399
Invested Capital Turnover		 0.26 0.25 0.23
Increase / (Decrease) in Invested Capital		 -50 -20 86
Enterprise Value (EV)		 369 326 397
Market Capitalization		 292 292 301
Book Value per Share		 $20.73 $21.91 $22.64
Tangible Book Value per Share		 $17.96 $19.15 $19.89
Total Capital		 332 313 399
Total Debt		 103 70 146
Total Long-Term Debt		 0.08 0.00 95
Net Debt		 77 34 97
Capital Expenditures (CapEx)		 1.37 2.63 1.47
Net Nonoperating Expense (NNE)		 0.00 -0.12 -0.45
Net Nonoperating Obligations (NNO)		 103 70 146
Total Depreciation and Amortization (D&A)		 2.97 2.55 3.86
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $2.68 $2.45
Adjusted Weighted Average Basic Shares Outstanding		 0.00 11.13M 11.20M
Adjusted Diluted Earnings per Share		 $0.00 $2.66 $2.43
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 11.13M 11.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 11.13M 11.20M
Normalized Net Operating Profit after Tax (NOPAT)		 39 29 27
Normalized NOPAT Margin		 41.91% 36.46% 33.14%
Pre Tax Income Margin		 50.93% 44.27% 40.60%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 2.81 0.56 0.37
NOPAT to Interest Expense		 2.31 0.47 0.31
EBIT Less CapEx to Interest Expense		 2.73 0.52 0.36
NOPAT Less CapEx to Interest Expense		 2.23 0.43 0.30
Payout Ratios		 - - -
Dividend Payout Ratio		 37.90% 52.23% 58.43%
Augmented Payout Ratio		 38.62% 53.08% 59.22%

Quarterly Metrics And Ratios for First Bancorp, Inc (ME)

This table displays calculated financial ratios and metrics derived from First Bancorp, Inc (ME)'s official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 12.59% 3.72% -7.91% -13.10% -17.58% -14.45% -11.99% -2.84% 3.42% 10.17%
EBITDA Growth		 8.88% -8.98% -17.76% -24.81% -25.56% -29.51% -21.94% -15.62% 3.22% 12.78%
EBIT Growth		 12.62% -3.70% -17.94% -25.55% -26.88% -29.62% -24.60% -17.76% 1.16% 1.58%
NOPAT Growth		 11.95% -3.66% -17.87% -24.95% -26.28% -29.45% -24.46% -17.67% 0.28% 12.23%
Net Income Growth		 11.95% -3.66% -17.87% -26.04% -25.93% -27.38% -24.46% -16.54% 1.30% 9.03%
EPS Growth		 10.98% -4.60% -18.18% -26.37% -26.37% -27.71% -25.00% -17.91% 1.49% 10.00%
Operating Cash Flow Growth		 2.27% -23.43% -35.56% -4.98% -21.90% 22.16% -129.66% -41.24% -5.20% 6.37%
Free Cash Flow Firm Growth		 256.72% -48.12% -37.13% -87.10% -74.93% -55.50% -225.49% -901.93% -351.63% -401.02%
Invested Capital Growth		 -28.33% -12.98% -14.98% -2.20% -8.46% -5.92% 27.23% 37.17% 31.70% 27.51%
Revenue Q/Q Growth		 5.71% -3.11% -9.80% -5.94% 0.25% 0.58% -7.21% 3.84% 6.72% 7.14%
EBITDA Q/Q Growth		 1.04% -11.84% -13.10% -5.36% 0.03% -16.51% -1.24% 2.30% 22.36% -8.78%
EBIT Q/Q Growth		 1.25% -9.25% -13.66% -6.16% -0.55% -12.64% -7.50% 2.35% 22.32% -12.28%
NOPAT Q/Q Growth		 0.94% -8.86% -13.33% -5.88% -0.84% -12.78% -7.20% 2.59% 20.78% -2.39%
Net Income Q/Q Growth		 0.94% -8.86% -13.33% -7.24% 1.08% -10.64% -9.85% 2.49% 22.69% -3.82%
EPS Q/Q Growth		 0.00% -8.79% -13.25% -6.94% 0.00% -10.45% -10.00% 1.85% 23.64% -2.94%
Operating Cash Flow Q/Q Growth		 15.36% -33.37% -42.52% 115.06% -5.18% 4.22% -113.96% 526.05% 52.98% 16.93%
Free Cash Flow Firm Q/Q Growth		 21.30% -59.11% 7.14% -75.72% 135.70% -27.41% -402.10% -55.15% 26.04% 13.16%
Invested Capital Q/Q Growth		 -4.52% -1.73% -6.04% 10.93% -10.63% 0.99% 27.08% 19.60% -14.20% -2.22%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 54.64% 49.71% 49.15% 49.46% 49.35% 40.96% 43.60% 42.95% 49.25% 41.93%
EBIT Margin		 51.12% 47.88% 45.83% 45.72% 45.35% 39.39% 39.27% 38.70% 44.36% 36.32%
Profit (Net Income) Margin		 41.91% 39.42% 37.88% 37.35% 37.66% 33.46% 32.51% 32.09% 36.89% 33.12%
Tax Burden Percent		 81.99% 82.34% 82.65% 82.81% 82.69% 82.56% 82.80% 82.61% 82.63% 83.89%
Interest Burden Percent		 100.00% 100.00% 100.00% 98.66% 100.43% 102.90% 100.00% 100.36% 100.64% 108.69%
Effective Tax Rate		 18.01% 17.66% 17.35% 17.19% 17.31% 17.44% 17.20% 17.39% 17.37% 16.11%
Return on Invested Capital (ROIC)		 9.54% 10.27% 10.17% 9.55% 9.72% 8.13% 7.16% 6.06% 7.93% 7.47%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.54% 10.27% 10.17% 9.46% 9.76% 8.35% 7.16% 6.06% 8.02% 7.47%
Return on Net Nonoperating Assets (RNNOA)		 7.31% 5.19% 4.79% 4.96% 4.40% 3.06% 3.63% 4.39% 3.88% 3.26%
Return on Equity (ROE)		 16.85% 15.46% 14.96% 14.50% 14.12% 11.19% 10.78% 10.45% 11.81% 10.73%
Cash Return on Invested Capital (CROIC)		 42.71% 24.80% 27.15% 12.11% 18.72% 15.21% -16.20% -24.94% -19.99% -16.71%
Operating Return on Assets (OROA)		 1.79% 1.69% 1.56% 1.47% 1.34% 1.12% 1.06% 1.01% 1.14% 0.96%
Return on Assets (ROA)		 1.47% 1.39% 1.29% 1.20% 1.11% 0.95% 0.88% 0.84% 0.95% 0.87%
Return on Common Equity (ROCE)		 16.85% 15.46% 14.96% 14.50% 14.12% 11.19% 10.78% 10.45% 11.81% 10.73%
Return on Equity Simple (ROE_SIMPLE)		 17.89% 0.00% 16.31% 14.94% 14.13% 0.00% 11.36% 10.77% 10.30% 0.00%
Net Operating Profit after Tax (NOPAT)		 10 9.20 7.97 7.50 7.44 6.49 6.02 6.18 7.46 7.28
NOPAT Margin		 41.91% 39.42% 37.88% 37.90% 37.49% 32.51% 32.51% 32.12% 36.35% 33.12%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.09% -0.03% -0.22% 0.00% 0.00% -0.09% 0.00%
SG&A Expenses to Revenue		 32.16% 35.56% 37.50% 36.99% 38.85% 38.72% 44.88% 40.58% 40.76% 39.76%
Operating Expenses to Revenue		 47.22% 50.20% 51.56% 54.13% 55.46% 56.05% 63.50% 58.50% 58.47% 55.23%
Earnings before Interest and Taxes (EBIT)		 12 11 9.64 9.05 9.00 7.86 7.27 7.44 9.10 7.99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 13 12 10 9.79 9.79 8.18 8.08 8.26 10 9.22
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.24 1.28 1.15 1.08 1.07 1.20 1.10 1.11 1.13 1.19
Price to Tangible Book Value (P/TBV)		 1.44 1.47 1.33 1.25 1.24 1.38 1.26 1.27 1.28 1.36
Price to Revenue (P/Rev)		 2.96 3.14 2.89 2.85 2.89 3.62 3.41 3.51 3.70 3.75
Price to Earnings (P/E)		 25.79 7.49 0.00 39.11 13.26 9.90 8.57 9.14 9.66 11.13
Dividend Yield		 5.26% 4.99% 5.63% 6.00% 6.26% 5.24% 5.81% 5.72% 5.43% 5.26%
Earnings Yield		 3.88% 13.34% 0.00% 2.56% 7.54% 10.11% 11.67% 10.94% 10.35% 8.99%
Enterprise Value to Invested Capital (EV/IC)		 0.88 1.11 1.02 0.97 0.83 1.04 0.99 0.93 0.95 1.00
Enterprise Value to Revenue (EV/Rev)		 3.23 3.97 3.48 3.81 3.06 4.05 5.05 5.70 4.96 4.95
Enterprise Value to EBITDA (EV/EBITDA)		 5.79 7.33 6.55 7.45 6.15 8.56 11.00 12.89 11.21 11.15
Enterprise Value to EBIT (EV/EBIT)		 6.23 7.79 7.00 7.98 6.62 9.18 11.88 14.01 12.25 12.50
Enterprise Value to NOPAT (EV/NOPAT)		 7.57 9.47 8.51 9.71 8.04 11.10 14.30 16.79 14.67 14.95
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.79 8.96 8.25 8.89 7.36 8.84 12.98 17.08 15.30 15.26
Enterprise Value to Free Cash Flow (EV/FCFF)		 1.72 4.17 3.44 7.93 4.25 6.65 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.54 0.45 0.37 0.49 0.37 0.29 0.64 0.94 0.59 0.58
Long-Term Debt to Equity		 0.00 0.00 0.00 0.11 0.00 0.00 0.29 0.29 0.37 0.38
Financial Leverage		 0.77 0.51 0.47 0.52 0.45 0.37 0.51 0.72 0.48 0.44
Leverage Ratio		 11.48 11.10 11.60 11.98 12.72 12.05 12.29 12.50 12.59 12.32
Compound Leverage Factor		 11.48 11.10 11.60 11.82 12.77 12.40 12.29 12.55 12.67 13.39
Debt to Total Capital		 34.99% 31.13% 26.86% 33.04% 26.80% 22.27% 38.95% 48.52% 37.03% 36.68%
Short-Term Debt to Total Capital		 34.96% 31.11% 26.83% 25.80% 26.80% 22.27% 21.33% 33.79% 13.74% 12.86%
Long-Term Debt to Total Capital		 0.03% 0.03% 0.03% 7.24% 0.00% 0.00% 17.61% 14.73% 23.30% 23.82%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 65.01% 68.87% 73.14% 66.96% 73.20% 77.73% 61.05% 51.48% 62.97% 63.32%
Debt to EBITDA		 2.30 2.06 1.73 2.53 1.98 1.83 4.32 6.72 4.36 4.10
Net Debt to EBITDA		 0.49 1.53 1.11 1.89 0.35 0.90 3.57 4.95 2.85 2.71
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.56 0.00 0.00 1.95 2.04 2.74 2.66
Debt to NOPAT		 3.01 2.65 2.25 3.30 2.59 2.37 5.61 8.75 5.71 5.50
Net Debt to NOPAT		 0.64 1.98 1.44 2.47 0.46 1.16 4.64 6.44 3.73 3.63
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.72 0.00 0.00 2.54 2.66 3.59 3.57
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 144 59 63 15 36 26 -79 -123 -91 -79
Operating Cash Flow to CapEx		 23,119.30% 3,673.64% 959.51% 18,090.00% 617.40% 2,807.85% -459.20% 10,810.17% 8,790.09% 1,170.15%
Free Cash Flow to Firm to Interest Expense		 31.07 7.74 5.51 1.00 2.08 1.38 -3.93 -5.71 -4.14 -3.67
Operating Cash Flow to Interest Expense		 2.85 1.16 0.44 0.71 0.59 0.57 -0.07 0.30 0.45 0.53
Operating Cash Flow Less CapEx to Interest Expense		 2.84 1.12 0.40 0.71 0.50 0.55 -0.09 0.29 0.44 0.49
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 3.20 3.25 3.18 3.11 2.93 2.83 2.75 2.78 2.78 2.84
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 338 332 312 346 310 313 397 475 408 399
Invested Capital Turnover		 0.23 0.26 0.27 0.25 0.26 0.25 0.22 0.19 0.22 0.23
Increase / (Decrease) in Invested Capital		 -134 -50 -55 -7.79 -29 -20 85 129 98 86
Enterprise Value (EV)		 298 369 317 337 257 326 394 442 388 397
Market Capitalization		 273 292 264 251 243 292 266 273 289 301
Book Value per Share		 $19.93 $20.73 $20.62 $20.94 $20.45 $21.91 $21.80 $21.97 $23.04 $22.64
Tangible Book Value per Share		 $17.15 $17.96 $17.86 $18.18 $17.68 $19.15 $19.05 $19.22 $20.29 $19.89
Total Capital		 338 332 312 346 310 313 397 475 408 399
Total Debt		 118 103 84 114 83 70 155 231 151 146
Total Long-Term Debt		 0.09 0.08 0.08 25 0.00 0.00 70 70 95 95
Net Debt		 25 77 54 85 15 34 128 170 99 97
Capital Expenditures (CapEx)		 0.06 0.24 0.53 0.06 1.67 0.38 0.33 0.06 0.11 0.98
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.11 -0.03 -0.19 0.00 0.01 -0.11 0.00
Net Nonoperating Obligations (NNO)		 118 103 84 114 83 70 155 231 151 146
Total Depreciation and Amortization (D&A)		 0.85 0.43 0.70 0.74 0.79 0.31 0.80 0.82 1.00 1.24
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.92 $0.84 $0.73 $0.67 $0.68 $0.60 $0.55 $0.56 $0.69 $0.65
Adjusted Weighted Average Basic Shares Outstanding		 11.04M 11.08M 11.08M 11.09M 11.09M 11.13M 11.14M 11.14M 11.15M 11.20M
Adjusted Diluted Earnings per Share		 $0.91 $0.83 $0.72 $0.67 $0.67 $0.60 $0.54 $0.55 $0.68 $0.66
Adjusted Weighted Average Diluted Shares Outstanding		 11.04M 11.08M 11.08M 11.09M 11.09M 11.13M 11.14M 11.14M 11.15M 11.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 11.04M 11.08M 11.08M 11.09M 11.09M 11.13M 11.14M 11.14M 11.15M 11.20M
Normalized Net Operating Profit after Tax (NOPAT)		 10 9.20 7.97 7.50 7.44 6.49 6.02 6.18 7.46 7.28
Normalized NOPAT Margin		 41.91% 39.42% 37.88% 37.90% 37.49% 32.51% 32.51% 32.12% 36.35% 33.12%
Pre Tax Income Margin		 51.12% 47.88% 45.83% 45.11% 45.55% 40.53% 39.27% 38.84% 44.64% 39.47%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 2.66 1.47 0.84 0.59 0.52 0.41 0.36 0.35 0.42 0.37
NOPAT to Interest Expense		 2.18 1.21 0.70 0.49 0.43 0.34 0.30 0.29 0.34 0.34
EBIT Less CapEx to Interest Expense		 2.65 1.44 0.80 0.59 0.42 0.39 0.35 0.34 0.41 0.33
NOPAT Less CapEx to Interest Expense		 2.17 1.18 0.65 0.49 0.33 0.32 0.28 0.28 0.34 0.29
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 36.97% 37.90% 40.35% 43.75% 47.72% 52.23% 56.41% 59.53% 59.80% 58.43%
Augmented Payout Ratio		 37.67% 38.62% 41.00% 44.47% 48.50% 53.08% 57.23% 60.34% 60.61% 59.22%

Key Financial Trends

First Bancorp, Inc (NASDAQ: FNLC) has shown steady financial performance over the past four years, with data available through Q4 2024. Here is an analysis highlighting key financial trends and factors affecting the company’s performance:

  • Net Interest Income has grown consistently year-over-year, reaching $17.55 million in Q4 2024, up from approximately $15 million in early 2023 and above prior years' levels. This indicates improving core earnings from loans and investments.
  • Net Income Attributable to Common Shareholders remains solid, with $7.28 million in Q4 2024 and generally upward trending over the quarters in 2024, reflecting steady profitability on a quarterly basis.
  • Total Assets have increased steadily, reaching over $3.14 billion by Q3 2024 from about $2.74 billion in Q3 2022, signaling growth and expansion in the bank's balance sheet.
  • Loan and Lease balances net of allowance increased from about $1.84 billion in Q3 2022 to around $2.31 billion in Q3 2024, showing healthy loan portfolio expansion, which drives interest income growth.
  • Cash flows from continuing operating activities improved significantly in 2024 quarters with $11.4 million in Q4 2024 and $9.76 million in Q3 2024, supporting operational cash generation strength.
  • Provision for Credit Losses fluctuated, with some quarters showing releases (negative provisions) and some increases; for example, Q4 2024 had a $1.86 million provision, while some earlier quarters showed a release. This indicates variation in credit risk outlook but no clear worsening trend.
  • The company maintains relatively consistent levels of salaries and employee benefits, approximately $6.4 million in Q4 2024, reflecting stable operational expense management consistent with growth.
  • Amortization and Depreciation expenses remain stable and relatively low compared to total expenses, contributing modestly to operational costs.
  • Net Cash used in Investing Activities remains large and negative due to substantial purchases of investment securities each quarter (e.g., -$43.8 million in Q4 2024), indicating significant deployment of cash into securities over time which could impact liquidity if not balanced.
  • Debt levels have increased, with Long-Term Debt rising to $95 million by Q3 2024 from $25.08 million in Q2 2023, alongside fluctuating short-term debt. This may increase interest costs and financial leverage risk, as reflected in rising interest expenses on long-term debt.

Summary: First Bancorp, Inc demonstrates a solid growth trajectory with increasing net interest income, net income, and total assets. While operating cash flow generation has improved, the company is investing heavily in securities and increasing debt levels, which could pressure liquidity and expenses in the future. The credit loss provisions appear to reflect cautious management without signs of material deterioration. Operational expenses remain manageable relative to revenues.

Retail investors should watch how the company manages its investment activities and debt levels going forward, as well as credit risk trends, to maintain profitability and financial stability.

08/21/25 03:12 PMAI Generated. May Contain Errors.

Frequently Asked Questions About First Bancorp, Inc (ME)'s Financials

When does First Bancorp, Inc (ME)'s fiscal year end?

According to the most recent income statement we have on file, First Bancorp, Inc (ME)'s financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has First Bancorp, Inc (ME)'s net income changed over the last 2 years?

First Bancorp, Inc (ME)'s net income appears to be on a downward trend, with a most recent value of $27.05 million in 2024, falling from $38.99 million in 2022. The previous period was $29.52 million in 2023.

How has First Bancorp, Inc (ME)'s revenue changed over the last 2 years?

Over the last 2 years, First Bancorp, Inc (ME)'s total revenue changed from $93.04 million in 2022 to $80.27 million in 2024, a change of -13.7%.

How much debt does First Bancorp, Inc (ME) have?

First Bancorp, Inc (ME)'s total liabilities were at $2.90 billion at the end of 2024, a 7.4% increase from 2023, and a 15.7% increase since 2022.

How much cash does First Bancorp, Inc (ME) have?

In the past 2 years, First Bancorp, Inc (ME)'s cash and equivalents has ranged from $22.73 million in 2022 to $31.94 million in 2023, and is currently $27.64 million as of their latest financial filing in 2024.

How has First Bancorp, Inc (ME)'s book value per share changed over the last 2 years?

Over the last 2 years, First Bancorp, Inc (ME)'s book value per share changed from 20.73 in 2022 to 22.64 in 2024, a change of 9.2%.


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This page (NASDAQ:FNLC) was last updated on 8/21/2025 by MarketBeat.com Staff
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