• Performance & History

    Performance Summary

    The First Bancorp's 2016 performance was very strong, resulting in record results. Net income for the year ended December 31, 2016 was $18.0 million, up $1.8 million or 11.1% from 2015, making 2016 our best year ever, surpassing our previous best year in 2015.

    The following table provides a Performance Summary for The First Bancorp for the year ended 2016. To view a Ten Year Performance Summary please click here.

     

     
     
         
    Year ended December 31,

    2016 

    Dollars in thousands, except for per share amounts  

     
     


    Summary of Operations
    Operating Income

    $66,258

    Operating Expense

       40,195

    Net Interest Income

      42,947

    Provision for Loan Losses

        1,600

    Net Income

    18,009

     

     

    Per Common Share Data


    Net Income

     

       Basic

    1.68 

       Diluted

     1.66 

    Cash Dividends Declared

    1.030

    Book Value

    15.98

    Market Value

    33.10

     

     

    Financial Ratios  


    Return on Average Equity

    10.28%

    Return on Average Tangible Equity

    12.42%

    Return on Average Assets

    1.12%

    Average Equity to Average Assets

    10.86%

    Average Tangible Equity to Average Assets

    9.00%

    Net Interest Margin

    3.05% 

    Dividend Payout Ratio

    61.31%

    Allowance for Loan Losses/Total Loans

    0.95% 

    Non-Performing Loans to Total Loans

    0.73%

    Non-Performing Assets to Total Assets

    0.48%

    Efficiency Ratio

    50.43%

       
    At Year End
    Total Assets

    $1,712,875 

    Total Loans

    1,071,526 

    Total Investment Securities

    539,174 

    Total Deposits

    1,242,957

    Total Shareholders’ Equity

    172,521

    The information presented in this table has been compiled from historical resources and is believed to be accurate.
    Past performance is no guarantee of future results.