# The First Bancorp, Inc. (FNLC)

> Source: Nexqual · https://nexqual.com/FNLC · data as of 2026-10-23 13:55 UTC · cite as "Nexqual, The First Bancorp, Inc. (FNLC), nexqual.com/FNLC" · informational, not investment advice.

**Price:** USD 35.86 (-0.86% today) · US market open, as of October 23, 2026 at 13:55 UTC; quotes may be delayed. Prev close 36.17 · day 35.81–36.12 · 52w 24.39–36.3 · market cap $405M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $101M, net income $37.8M (37.3% margin) (SEC filings).
- Valuation: P/E 10.7x (avg 10.2x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $183K; 1 not under a Rule 10b5-1 plan ($183K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $43K; 0 by opportunistic insiders, 1 by routine insiders.
- Analysts: None.
- Total return with dividends: 1Y +49.0% vs S&P 500 +14.4%; 5Y +56.5% vs S&P 500 +77.0%.
- Next earnings: 2027-01-20, EPS estimate USD —, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $85.7M | $93.0M | $80.6M | $80.3M | $94.7M | $101M |
| Net income | $36.3M | $39.0M | $29.5M | $27.0M | $34.4M | $37.8M |
| EPS (diluted) | $3.30 | $3.53 | $2.66 | $2.43 | $3.07 | — |
| Free cash flow | $52.9M | $39.8M | $34.3M | $24.6M | $34.6M | $35.6M |
| Net margin | 42.3% | 41.9% | 36.6% | 33.7% | 36.3% | 37.3% |
| Revenue growth | +9.9% | +8.6% | -13.3% | -0.5% | +18.0% | — |
| Cash + short-term investments | $20.6M | $22.7M | $31.9M | $27.6M | $27.8M | — |
| Total debt | $136M | $103M | $69.7M | $146M | $188M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 10.7x · P/S 4.0x · P/FCF 11.4x · P/B 1.4x · FCF yield 8.80% · Earnings yield 9.34% · Dividend yield (paid, TTM) 4.11% · Buyback yield (TTM) 0.08%
P/E at fiscal year-ends: Dec 2025 8.6x, Dec 2024 11.3x, Dec 2023 10.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-28 | Tolman Sarah | EVP, Chief Banking Officer | 5,200 | $183K | 38.4% | No | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $43K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-04-30 | Swan Kimberly | Director | 1,500 | $43K | 28.69 | Routine (bought in Apr each year 2023–2025) |

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +49.0% | +56.5% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +49.0% | +9.4% |
| Volatility (annualized) | 25.2% | 25.8% |
| Max drawdown | -10.4% (Feb 2026→Mar 2026) | -27.5% (Jan 2022→May 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.89 -1.52% · FITB (Fifth Third Bancorp) USD 52.62 -1.15% · DB (Deutsche Bank AG) USD 30.87 -1.95% · TFC (Truist Financial Corporation) USD 47.94 -0.99% · NWG (NatWest Group plc) USD 16.62 -2.21% · NU (Nu Holdings Ltd.) USD 14.62 -0.78%

## More
Full page: https://nexqual.com/FNLC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Investment management and fiduciary income | $1.5M | — | +15.9% |
| Debit card income | $1.4M | — | +6.9% |
| Service charges on deposit accounts | $585,000 | — | +8.5% |
| Mortgage origination and servicing income, net of amortization | $195,000 | — | -11.8% |
| Total revenue | — | 100% | — |

## Company outlook (8-K filed 2026-10-21)

- "Non-maturity deposits had strong growth, up $139.7 million in the third quarter, and consistent with seasonal expectations."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter (ends 2015-09-30) | — | — | — | $0 | — |
| Current fiscal year (ends 2015-12-31) | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-03-19 (includes earnings 2027-01-20): ±15.2%; earnings reaction alone ±10.1%; last 8 reports averaged ±2.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 23.5% | ±7.5% |
| 2027-03-19 | 147 | 30.8% | ±15.2% |