The First Bancorp reports Q4 EPS 65c vs 68c last year

“The First Bancorp (FNLC) concluded 2024 with annual earnings of $27.0 million,” commented Tony McKim, the Company’s President and Chief Executive Officer. “While down from the prior year we are encouraged by the improvements in net interest income posted in the second half of the year, driven by a steadily increasing net interest margin. Pre-Tax, Pre-Provision Return on Average Assets for 2024 was 1.09% and PTPP Return on Average Tangible Common Equity was 15.12%. We experienced strong earning asset growth during the year with total loans increasing $211.5 million, or 9.9%, while maintaining favorable asset quality.”