8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 3, 2021

THE FIRST BANCORP, INC.

(Exact name of Registrant as specified in charter)

Maine

(State or other jurisdiction of incorporation)

0-26589	01-0404322
(Commission file number)	(IRS employer identification no.)

Main Street	Damariscotta	Maine	04543
(Address of principal executive offices)			(Zip Code)

(207) 563-3195

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is

intended to simultaneously satisfy the filing obligations

of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Securities registered pursuit to Section 12(b) of the Exchange Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

TABLE OF CONTENTS

Item 5.02 Departure of Directors or Certain Officer; Election of Directors; Page 1

Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Item 9.01 Financial Statements and Exhibits Page 1

Signatures                      Page 2

Exhibit Index         Page 3

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain

Officers; Compensatory Arrangements of Certain Officers.

On May 3, 2021, Kimberly Swan was sworn in as a member of the Board of Directors of The First Bancorp (the “Company”) and its subsidiary First National Bank (the “Bank”). Ms. Swan will serve as a member of the Board of Directors of the Company and Bank until the 2022 Annual Meeting of Shareholders. She has been appointed to the Company's Governance Committee and the Bank's Directors Loan Committee and Trust Committee.

There are no understandings or arrangements between Ms. Swan and any other persons pursuant to which Ms. Swan was selected as a director of the Company.

Ms. Swan is the 100% owner of Swan Agency Real Estate in Bar Harbor, Maine and has full or partial interests in several other companies. Certain companies with which Ms. Swan is affiliated have loans with the Bank, each of which were made in the ordinary course of business, were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with persons not related to the Bank, and did not involve more than the normal risk of collectability or present other unfavorable features.

Please refer to exhibit 99.1 filed with this report for the Company’s press release announcing the appointment of Ms. Swan as a director of the Company.

(d) Exhibits.

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The following Exhibit is being furnished herewith:

8-K Exhibit 99.1

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE FIRST BANCORP, INC.

By: /s/ Richard M. Elder

---------------------

Richard M. Elder

Executive Vice President & Chief Financial Officer

May 3, 2021

Exhibit Index

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Exhibit

Number Description of Exhibit

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8-K Exhibit 99.1

EX-99.1

Exhibit 99.1

May 3, 2021 - Tony C. McKim, President and Chief Executive Officer of The First Bancorp, Inc., (the “Company”) (Nasdaq: FNLC), and its banking subsidiary, First National Bank, (the “Bank"), announced today that Kimberly Swan of Bar Harbor, Maine has been elected to serve as a Director for the Bank and the Company. “On behalf of the Board of Directors and the management team, I welcome Ms. Swan. We look forward to adding Kim’s expertise, insight and perspective to the Boards of The First Bancorp and First National Bank.” Ms. Swan has been appointed to the Company's Governance Committee and the Bank's Directors Loan Committee and Trust Committee.

Ms. Swan is the sole owner of Trumpeter Inc., d/b/a Swan Agency Real Estate, a leading real estate brokerage headquartered in Bar Harbor, Maine along with offices in Blue Hill and Northeast Harbor. The Swan Agency specializes in all areas of real estate; its Maine Lodging Brokerage is Maine’s leading brokerage of inns and bed & breakfast properties. Kim joined the family company in 1981 and purchased it in 1994. She is also the sole member of Swan Hospitality Inc. and Kennebec Cottage Associates LLC which own several investment properties. Swan is a partner in Maineville Music and the Executive Producer of two films, Fire of ’47 and CONSOLIDATION. For several seasons Swan produced and created Living Acadia TV on ABC7 - a summer/fall season show focusing on the Acadia National Park lifestyle featuring real estate in the region.

Outside of her work commitments, Ms. Swan is dedicated to her community, working with several animal rescue and sanctuary organizations along with serving as a board member and Secretary of the Bar Harbor Village Improvement Association. She formerly served for ten years on the Bar Harbor Town Council, was awarded the 2017 Cadillac Award by the Bar Harbor Chamber of Commerce, was named one of the 2018 Fifty Mainers Balancing Heritage and Progress by Maine Magazine, and was named a 2019 Woman to Watch Honoree by Maine Biz.

“It’s an honor to have been elected to the Board of Directors of The First Bancorp,” said Swan. “I look forward to contributing to the Board and working with the great team at First National Bank. The Bank’s commitment to the communities it serves aligns with how I strive to operate my own businesses, and the service provided by the Bank to its customers really stands out.”

The First Bancorp, the parent company of First National Bank, is based in Damariscotta, Maine. Founded in 1864, First National Bank is a full-service community bank with $2.4 billion in assets. The Bank provides a complete array of commercial and retail banking services through seventeen locations in mid-coast and eastern Maine. First National Wealth Management, a division of the Bank, provides investment management and trust services to individuals, businesses, and municipalities. More information about The First Bancorp, First National Bank and First National Wealth Management may be found at www.thefirst.com.

XML

Document and Entity Information	May 03, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	May 03, 2021
Entity Registrant Name	FIRST BANCORP, INC
Entity Central Index Key	0000765207
Amendment Flag	false
Entity Incorporation, State or Country Code	ME
Entity File Number	0-26589
Entity Tax Identification Number	01-0404322
Entity Address, Address Line One	Main Street
Entity Address, City or Town	Damariscotta
Entity Address, State or Province	ME
Entity Address, Postal Zip Code	04543
City Area Code	207
Local Phone Number	563-3195
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false