The First Bancorp, Inc. (FNLC)

25.89 -0.51 (-1.93%) At close: 04:00PM EDT

The First Bancorp, Inc.

223 Main Street
Damariscotta, ME 04543
United States
207 563 3195
https://www.thefirst.com

Sector(s): Financial Services
Industry: Banks—Regional
Full-time employees: 

Key executives

Name	Title	Pay	Exercised	Year born
Mr. Tony C. McKim	Pres, CEO & Director	965.27k	N/A	1967
Mr. Richard M. Elder	Exec. VP, CFO & Treasurer	348.19k	N/A	1965
Ms. Susan A. Norton	Clerk, CRA Officer, BSA Officer & Compliance Officer	374.08k	N/A	1960

Amounts are as of 31 December 2021, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.

Description

The First Bancorp, Inc. operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts. The company also provides commercial real estate loan products, such as mortgage loans to finance investments in real property comprising multi-family residential, commercial/retail, office, industrial, hotel, educational, and other specific or mixed use properties; commercial construction loans to finance construction of owner- and non-owner occupied commercial real estate properties; and other commercial loans, which include revolving and term loan obligations to business and corporate enterprises for the purpose of financing working capital or capital investment. In addition, it offers municipal loans for capitalized expenditures, construction projects, or tax-anticipation notes; residential term loans that include amortizing home mortgages and construction loans, which include loans for owner-occupied residential construction; home equity loans and lines of credit; and consumer loans, which are amortizing loans to individuals collateralized by automobiles, pleasure crafts, and recreation vehicles, as well as unsecured short-term time notes. Further, the company provides private banking, financial planning, investment management, and trust services to individuals, businesses, non-profit organizations, and municipalities, as well as payment processing services. It operates through 18 full-service banking offices in Lincoln, Knox, Waldo, Penobscot, Hancock, and Washington counties in the Mid-Coast, Eastern, and Down East regions of Maine. The company was formerly known as First National Lincoln Corporation and changed its name to The First Bancorp, Inc. in April 2008. The First Bancorp, Inc. was founded in 1864 and is based in Damariscotta, Maine.

Corporate governance

The First Bancorp, Inc.’s ISS governance QualityScore as of 1 February 2023 is 2. The pillar scores are Audit: 1; Board: 3; Shareholder rights: 2; Compensation: 5.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.