Condensed Financial Information of Parent

12 Months Ended

Dec. 31, 2025

Condensed financial information for The First Bancorp, Inc. exclusive of its subsidiary is as follows:

Balance Sheets


As of December 31,	2025		2024
Assets
Cash and cash equivalents	$	1,070,000	$	1,074,000
Dividends receivable	4,000,000		3,900,000

Investment in subsidiary	254,234,000		223,532,000

Goodwill	27,559,000		27,559,000
Other assets	450,000		462,000
Total assets	$	287,313,000	$	256,527,000
Liabilities and shareholders' equity
Dividends payable	$	4,152,000	$	4,016,000
Other liabilities	18,000		18,000
Total liabilities	4,170,000		4,034,000
Shareholders' equity

Common stock	112,000		112,000
Additional paid-in capital	73,714,000		71,832,000
Retained earnings	209,317,000		180,549,000



Total shareholders' equity	283,143,000		252,493,000
Total liabilities and shareholders' equity	$	287,313,000	$	256,527,000

Statements of Income


For the years ended December 31,	2025		2024		2023


Other operating income	$	—	$	—	$	—
Total income	—		—		—

Other operating expense	1,346,000		1,313,000		1,202,000
Total expense	1,346,000		1,313,000		1,202,000
Loss before income taxes and Bank earnings	(1,346,000)		(1,313,000)		(1,202,000)
Applicable income taxes	(273,000)		(311,000)		(279,000)
Loss before Bank earnings	(1,073,000)		(1,002,000)		(923,000)
Equity in earnings of Bank
Remitted	15,900,000		15,800,000		14,750,000
Unremitted	19,567,000		12,247,000		15,691,000
Net income	$	34,394,000	$	27,045,000	$	29,518,000

Statements of Cash Flows


For the years ended December 31,	2025		2024		2023
Cash flows from operating activities:
Net income	$	34,394,000	$	27,045,000	$	29,518,000
Adjustments to reconcile net income to net cash provided by operating activities:

Equity compensation expense	966,000		895,000		820,000


Decrease (increase) in other assets	12,000		(2,000)		6,000
Increase in dividends receivable	(100,000)		(150,000)		(150,000)
Increase in dividends payable	—		—		129,000
Increase (decrease) in other liabilities	—		14,000		(2,000)
Unremitted earnings of Bank	(19,567,000)		(12,247,000)		(15,691,000)
Net cash provided by operating activities	15,705,000		15,555,000		14,630,000





Cash flows from financing activities:

Purchase of common stock	(282,000)		(212,000)		(250,000)
Proceeds from sale of common stock	916,000		867,000		817,000

Dividends paid	(16,343,000)		(15,803,000)		(15,409,000)
Net cash used in financing activities	(15,709,000)		(15,148,000)		(14,842,000)
Net (decrease) increase in cash and cash equivalents	(4,000)		407,000		(212,000)
Cash and cash equivalents at beginning of year	1,074,000		667,000		879,000
Cash and cash equivalents at end of year	$	1,070,000	$	1,074,000	$	667,000