The Board of Directors of The First Bancorp (NASDAQ: FNLC) today
declared a quarterly dividend of 22 cents per share. This fourth-quarter
dividend is payable January 29, 2016, to shareholders of record as of
January 7, 2016, and is equal to the 22 cents per share the Company paid
in the prior two quarters.
“This continues to be an excellent year for The First Bancorp,” Tony C.
McKim, the Company’s President and Chief Executive Officer observed. “We
have posted three consecutive quarters with net income above $4.0
million and record quarterly earnings in three of the past five quarters.
“The combination of higher net interest income driven by asset growth,
lower operating costs and improved asset quality are the major factors
in our strong performance in 2015,” Mr. McKim continued. “These enable
us to share our earnings with our shareholders in the form of cash
dividends. We are confident in the view that our generous dividend
payout is very important to our shareholders and remains a key component
in our total return and the valuation of our shares.”
The First Bancorp, headquartered in Damariscotta, Maine, is the holding
company for The First, N.A. Founded in 1864, The First is an independent
community bank serving Mid-Coast and Down East Maine with 16 offices in
Lincoln, Knox, Hancock, Penobscot and Washington Counties. The Bank
provides a full range of consumer and commercial banking products and
services. First Advisors, a division of The First, provides investment
advisory, private banking and trust services from four offices in
Lincoln, Penobscot and Hancock Counties.
Forward-looking and cautionary statements: except for the historical
information and discussions contained herein, statements contained in
this release may constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements involve a number of risks, uncertainties and other factors
that could cause actual results and events to differ materially, as
discussed in the Company's filings with the Securities and Exchange
Commission.
For more information, please contact F. Stephen Ward, the First
Bancorp's Treasurer & Chief Financial Officer, at 207.563.3272.
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