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.
No risks detected for FNLC from our risk checks.
Excellent balance sheet established dividend payer.
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 has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FNLC underperformed the US Banks industry which returned 10.3% over the past year.
Return vs Market: FNLC underperformed the US Market which returned 17.9% over the past year.
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
1 week ago | Simply Wall StWhat Kind Of Shareholder Owns Most The First Bancorp, Inc. (NASDAQ:FNLC) Stock?
3 weeks ago | Simply Wall StDo You Like The First Bancorp, Inc. (NASDAQ:FNLC) At This P/E Ratio?
1 month ago | Simply Wall StIf You Like EPS Growth Then Check Out First Bancorp (NASDAQ:FNLC) Before It's Too Late
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 ($27.96) is trading below our estimate of fair value ($32.21)
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 (11.8x) compared to the Banks industry average (12.6x).
PE vs Market: FNLC is good value based on its PE Ratio (11.8x) compared to the US market (18.2x).
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 (1.2x).
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.
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 (39%) are higher than last year (38.4%).
Past Earnings Growth Analysis
Earnings Trend: FNLC's earnings have grown by 11.4% per year over the past 5 years.
Accelerating Growth: FNLC's earnings growth over the past year (8.5%) is below its 5-year average (11.4% per year).
Earnings vs Industry: FNLC earnings growth over the past year (8.5%) underperformed the Banks industry 12.2%.
Return on Equity
High ROE: FNLC's Return on Equity (12%) is considered low.
Return on Assets
Return on Capital Employed
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
Inventory Level: FNLC has a low level of unsold assets or inventory.
Debt Coverage by Assets: FNLC's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: FNLC's level of assets compared to its equity is low.
Allowance for Bad Loans: FNLC has a low allowance for bad loans.
Low Risk Liabilities: FNLC's liabilities are made up of primarily low risk sources of funding.
Loan Level: FNLC has an acceptable proportion of non-loan assets held.
Low Risk Deposits: FNLC's loans are broadly funded by customer deposits.
Level of Bad Loans: FNLC has an appropriate level of bad loans (1.33%)
What is First Bancorp's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: FNLC's dividend (4.29%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: FNLC's dividend (4.29%) is in the top 25% of dividend payers in the US market (3.73%)
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 reasonable payout ratio (50.4%), FNLC's dividend payments are 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.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Tony McKim (52yo)
Mr. Tony C. McKim has been the Chief Executive Officer of First National Bank and The First Bancorp, Inc. since January 02, 2015. Mr. McKim has been the President of The First Bancorp, Inc. and First Natio ...
CEO Compensation Analysis
Compensation vs Market: Tony's total compensation ($USD858.08K) is below average for companies of similar size in the US market ($USD1.67M).
Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.
|Executive VP||1.9yrs||US$300.65k||0.18% $562.9k|
|CRA Officer & Compliance Officer||0yrs||US$333.18k||0.25% $755.6k|
|Executive VP & Clerk||19.1yrs||US$385.44k||0.26% $783.7k|
Experienced Management: FNLC's management team is seasoned and experienced (5.1 years average tenure).
|Independent Director||23.1yrs||US$32.70k||0.98% $3.0m|
|Independent Director||33.1yrs||US$30.30k||0.46% $1.4m|
|Independent Director||21.1yrs||US$30.90k||0.19% $592.6k|
|Independent Director||27.1yrs||US$32.70k||0.36% $1.1m|
|Chairman of the Board||2.1yrs||US$39.50k||1.5% $4.6m|
|Independent Director||6yrs||US$30.90k||0.059% $178.6k|
|Independent Director||4.1yrs||US$35.85k||0.040% $122.0k|
Experienced Board: FNLC's board of directors are seasoned and experienced ( 15.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FNLC insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
The First Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: The First Bancorp, Inc.
- Ticker: FNLC
- Exchange: NasdaqGS
- Founded: 1985
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$304.742m
- Shares outstanding: 10.90m
- Website: https://www.thefirst.com
Number of Employees
- The First Bancorp, Inc.
- Main Street
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FNLC||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Jul 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 deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts. It also provides commercial loan products, such as mortgage loans to finance investments in real property comprising multi-family residential, commercial/retail, office, industrial, hotel, educational, and other specific or mixed use properties; loans to finance construction of owner- and non-owner occupied commercial real estate properties; and revolving and term loan obligations to business and corporate enterprises for the purpose of financing working capital or capital investment. In addition, the company offers municipal loans for capitalized expenditures, construction projects, or tax-anticipation notes; residential term loans that include amortizing home mortgages and construction loans, which include loans for owner-occupied residential construction; home equity loans and lines of credit; and consumer loans, which are amortizing loans to individuals collateralized by automobiles, pleasure crafts, and recreation vehicles, as well as unsecured short-term time notes. Further, it provides private banking, financial planning, investment management, and trust services to individuals, businesses, non-profit organizations, and municipalities. The First Bancorp, Inc. operates through 16 full-service banking offices in Lincoln, Knox, Hancock, Washington, and Penobscot counties in the Mid-Coast, Eastern, and Down East regions of Maine. The company was formerly known as First National Lincoln Corporation and changed its name to The First Bancorp, Inc. in April 2008. The First Bancorp, Inc. was founded in 1985 and is based in Damariscotta, Maine.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/23 01:50|
|End of Day Share Price||2020/02/21 00:00|
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.