The First Bancorp, Inc. is a $1.7 billion bank holding company, based in Damariscotta, Maine, which serves the Mid-Coast, Down East and Northern regions of the Pine Tree State. The Company's subsidiary, First National Bank (formerly The First, N.A.), was established in 1864, and with 16 offices from Wiscasset to Calais and now Bangor, today serves several of the fastest-growing counties in the State of Maine. The demographic profile for our market area is very favorable, since population dynamics, migration of affluent retirees, job growth and technological advances favor the coastal regions of the state.
Tony C. McKim, President & Chief Executive Officer
Over the past ten years, the Company's total assets have grown nearly $500 million. This was achieved through a focused strategy – opening and acquiring new branches accompanied by organic growth within our established branch offices. During the fourth quarter 2012, the Company completed the acquisition of the former Bank of America branch at 63 Union Street in Rockland, thus expanding our strong Knox county presence. At the same time, the Company completed the purchase of the former Camden National building at 145 Exchange Street in Bangor, allowing the Company to enter the expanding Northern Maine market with the opening of a full-service branch in February 2013. This asset growth, in turn, has produced a growth in earnings, with net income increasing $3.9 million, from $12.3 million in 2006 to $16.2 million in 2015.
Today, First National Bank offers a wide variety of retail and commercial banking services. It has eight full-service banking offices in the Lincoln and Knox Counties – Damariscotta, Waldoboro, Boothbay Harbor, Wiscasset, Rockport, Camden and two locations in Rockland – as well as seven in the Hancock and Washington Counties – Bar Harbor, Northeast Harbor, Southwest Harbor, Ellsworth, Blue Hill, Eastport and Calais and one in Penobscot County – Bangor. Over the past several years, the Company has made significant capital investments in its technology infrastructure, and today offers a comprehensive range of electronic banking services in addition to those provided in traditional banking offices. Whether delivered traditionally or electronically, however, it is a highly personalized approach to service that ultimately differentiates The First from other financial service providers and fosters lasting relationships with customers and friends.