The First Bancorp (FNLC) investor relations material

Executive summary

• Net income for Q1 2026 was $9.0 million, up 27.1% year-over-year; diluted EPS rose to $0.80, up 26.8% from Q1 2025.

• Pre-tax, pre-provision earnings increased 28.7% to $11.5 million compared to the prior year.

• Dividend payout ratio was 45.7% of basic EPS, with $0.37 per share declared year-to-date.

• Total assets grew 1.1% year-to-date to $3.20 billion; loan portfolio increased 0.5% to $2.41 billion.

• Asset quality remains satisfactory, with non-performing assets at 0.51% of total assets.

Financial highlights

• Net interest income (tax-equivalent) rose 15.4% to $21.4 million; net interest margin improved to 2.86% from 2.48%.

• Non-interest income increased 11.2% to $4.5 million, driven by wealth management and other operating income.

• Non-interest expense rose 6.0% to $13.6 million, mainly due to higher salaries and benefits.

• Provision for credit losses on loans was $650,000, up from $396,000 in Q1 2025.

• Net charge-offs were $806,000 (0.034% of loans), up from $153,000 (0.026%) a year ago.

Outlook and guidance

• Interest rate risk modeling projects net interest income would increase 3.1% if rates fall by 2%, and decrease 2.4% if rates rise by 2% over the next year.

• Management expects interest rates to increase slightly in the next year and considers current interest rate risk acceptable.

• The company remains well capitalized, with a total risk-based capital ratio of 14.05%.