The First Bancorp stock posts 17.5% rise in quarterly earnings

Published on 11/02/2026 at 01:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The First Bancorp stock is in focus after stronger quarterly earnings. Lower funding costs and loan growth supported the Maine bank's performance.

Quarterly earnings improve

Lower funding costs and earning-asset growth supported The First Bancorp's latest quarterly performance.
Loan production, deposits and asset quality shaped the outlook for the Maine-focused community bank.
Investors will watch whether margin gains hold as regional banking conditions evolve.

FNLC, US31866P1021, Illustration mit AI erstellt.

The First Bancorp reported stronger third-quarter results on October 21, 2026, as lower funding costs and growth in earning assets lifted profitability. The company's release said net income reached USD 10.7 million for the quarter ended September 30, 2026, while diluted earnings per share came to USD 0.95.

The The First Bancorp earnings release said quarterly net income rose 17.5 percent from a year earlier and 11.6 percent from the second quarter. Net interest margin expanded to 2.99 percent, up from 2.70 percent in the prior-year quarter, while net interest income increased 12.2 percent to USD 22.5 million.

Margin expansion supports earnings

Management attributed the margin improvement to lower funding costs and stable yields on earning assets. Non-interest income also increased, led by wealth management, payments and other operating revenue, while the non-GAAP efficiency ratio improved to 47.94 percent from 50.40 percent a year earlier.

Loan growth totaled USD 17.8 million during the quarter, and new loan production reached USD 180 million. Deposits increased by USD 106.9 million, allowing the bank to reduce short-term time deposits and borrowings. The company said non-maturity deposits drove much of the increase.

Credit quality remains in focus

Asset quality improved from June, although some measures remained above year-earlier levels. Non-performing assets represented 0.44 percent of total assets at September 30, compared with 0.54 percent at June 30 and 0.30 percent a year earlier. Net loan charge-offs totaled USD 1.6 million in the quarter.

The First Bancorp paid a quarterly dividend of USD 0.38 per share on October 16 to shareholders of record on October 6. The release also reported a tangible book value per share of USD 22.81 at quarter-end, up from USD 21.74 a year earlier but below USD 23.25 at June 30.

Maine-focused banking model

The First Bancorp is the holding company for First National Bank, which provides commercial and retail banking services, deposit products, payment processing, consumer, commercial and mortgage loans. First National Wealth Management adds investment management and trust services for individuals, businesses and municipalities. The bank operates 18 full-service offices across six counties in Maine. Validea lists Timberland Bancorp, National Bankshares and Community Bancorp among comparable banking companies, while FNLC remains focused on a regional Maine footprint.