8-K
First Bancorp, Inc /ME/ (FNLC)
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): June 25, 2020
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))
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 8.01 Other Events Page 1
Item 9.01 Financial Statements and Exhibits. Page 1
Signatures Page 2
Exhibit Index Page 3
Section 8 - Other Events
Item 8.01 Other Events.
On June 25, 2020, the Registrant issued the press release filed herewith as Exhibit 99.1 announcing the declaration of a cash dividend.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
The following Exhibits are being furnished herewith:
99.1 Registrant's Press Release dated June 25, 2020
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
June 25, 2020
Exhibit Index
Exhibit
Number Description of Exhibit
99.1 Registrant's Press Release dated June 25, 20200
Document
Exhibit 99.1
The First Bancorp Declares Second Quarter Dividend
DAMARISCOTTA, Maine - (BUSINESS WIRE) - June 25, 2020 - The Board of Directors of The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly dividend of 31 cents per share. This second quarter dividend is payable July 20, 2020, to shareholders of record as of July 7, 2020, and is up one cent from the 30 cents per share the Company paid in each of the past four quarters. Based on the June 24, 2020 closing price of $19.05 per share, the annualized dividend of $1.24 per share translates to a yield of 6.51%.
"The First Bancorp reported record earnings in 2019, and carried that momentum forward with a strong first quarter of 2020" remarked President & Chief Executive Officer, Tony C. McKim. "As we continue to assess and respond to the many challenges brought about by the COVID-19 pandemic, the Company's Board of Directors remains supportive of paying a generous cash dividend to our shareholders."
The First Bancorp, headquartered in Damariscotta, Maine, is the holding company for First National Bank. Founded in 1864, the Bank serves Mid-Coast and Down East Maine with 16 offices in Lincoln, Knox, Hancock, Penobscot and Washington Counties. The Bank provides a full range of consumer and commercial banking products and services. First National Wealth Management, a division of First National Bank, provides investment management and trust services from five offices in Lincoln, Knox, Penobscot and Hancock Counties.
Forward-looking and cautionary statements: except for the historical information and discussions contained herein, statements contained in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially, as discussed in the Company's filings with the Securities and Exchange Commission.
For more information, please contact Richard M. Elder, EVP & Chief Financial Officer of The First Bancorp, at 207.563.3195 x2087.