Stock Analysis Report

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Executive Summary

The First Bancorp, Inc. operates as the holding company for First National Bank that provides a range of banking products and services to individual and corporate customers. More Details

Snowflake Analysis

Flawless balance sheet established dividend payer.

Similar Companies

Share Price & News

How has First Bancorp's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: FNLC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FNLC's weekly volatility has decreased from 10% to 5% over the past year.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: FNLC underperformed the US Banks industry which returned 35.4% over the past year.

Return vs Market: FNLC underperformed the US Market which returned 36.3% over the past year.

Shareholder returns

7 Day11.1%4.5%-0.4%
30 Day13.2%12.1%-2.3%
90 Day10.9%25.4%5.0%
1 Year18.4%12.1%40.3%35.5%39.1%36.2%
3 Year13.5%-1.0%13.1%3.4%48.4%39.0%
5 Year85.8%50.2%100.7%75.2%116.6%92.4%

Long-Term Price Volatility Vs. Market

How volatile is First Bancorp's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is First Bancorp undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: FNLC ($28.4) is trading below our estimate of fair value ($33.26)

Significantly Below Fair Value: FNLC is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: FNLC is good value based on its PE Ratio (11.4x) compared to the US Banks industry average (13.1x).

PE vs Market: FNLC is good value based on its PE Ratio (11.4x) compared to the US market (21.5x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FNLC's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: FNLC is overvalued based on its PB Ratio (1.4x) compared to the US Banks industry average (1.1x).

Next Steps

Future Growth

How is First Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has First Bancorp performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FNLC has high quality earnings.

Growing Profit Margin: FNLC's current net profit margins (37.7%) are lower than last year (39%).

Past Earnings Growth Analysis

Earnings Trend: FNLC's earnings have grown by 11.2% per year over the past 5 years.

Accelerating Growth: FNLC's earnings growth over the past year (6.3%) is below its 5-year average (11.2% per year).

Earnings vs Industry: FNLC earnings growth over the past year (6.3%) exceeded the Banks industry 0.5%.

Return on Equity

High ROE: FNLC's Return on Equity (12.1%) is considered low.

Next Steps

Financial Health

How is First Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: FNLC's Assets to Equity ratio (10.6x) is moderate.

Allowance for Bad Loans: FNLC has a sufficient allowance for bad loans (169%).

Low Risk Liabilities: 86% of FNLC's liabilities are made up of primarily low risk sources of funding.

Loan Level: FNLC has an appropriate level of Loans to Assets ratio (62%).

Low Risk Deposits: FNLC's Loans to Deposits ratio (79%) is appropriate.

Level of Bad Loans: FNLC has an appropriate level of bad loans (0.6%).

Next Steps


What is First Bancorp current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FNLC's dividend (4.37%) is higher than the bottom 25% of dividend payers in the US market (1.31%).

High Dividend: FNLC's dividend (4.37%) is in the top 25% of dividend payers in the US market (3.64%)

Stability and Growth of Payments

Stable Dividend: FNLC's dividends per share have been stable in the past 10 years.

Growing Dividend: FNLC's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.2%), FNLC's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


Tony McKim (53 yo)





Mr. Tony C. McKim has been the Chief Executive Officer of First National Bank and The First Bancorp, Inc. since January 5, 2015. Mr. McKim has been the President of The First Bancorp, Inc. and First Nation...

CEO Compensation Analysis

Compensation vs Market: Tony's total compensation ($USD1.04M) is below average for companies of similar size in the US market ($USD1.52M).

Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.

Board Members

Tony McKim
$ 3.1m
Stuart Smith
Independent Director24.17yrsUS$31.50k1.0%
$ 3.1m
Robert Gregory
Independent Director34.17yrsUS$27.90k2.99%
$ 9.3m
F. Ward
$ 1.2m
Bruce Tindal
Independent Director22.17yrsUS$31.50k0.20%
$ 624.0k
Mark Rosborough
Independent Chairman of the Board2.92yrsUS$39.50k1.58%
$ 4.9m
Cornelius Russell
Independent Director7.08yrsUS$30.30k0.072%
$ 225.0k
Renee Kelly
Independent Director5.17yrsUS$41.10k0.057%
$ 178.6k


Average Tenure


Average Age

Experienced Board: FNLC's board of directors are seasoned and experienced ( 11.6 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

The First Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources

Key Information

  • Name: The First Bancorp, Inc.
  • Ticker: FNLC
  • Exchange: NasdaqGS
  • Founded: 1864
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$311.958m
  • Shares outstanding: 10.98m
  • Website:

Number of Employees


  • The First Bancorp, Inc.
  • 223 Main Street
  • Damariscotta
  • Maine
  • 4543
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNLCNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJul 1999


The First Bancorp, Inc. operates as the holding company for First National Bank that provides a range of banking products and services to individual and corporate customers. The company offers various depo...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/06 23:28
End of Day Share Price2021/03/05 00:00
Annual Earnings2020/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.