News & Information

Top 5 Tips: A Year-End Financial Checklist

As we close 2021, the First National team has created our Top 5 Tips financial tips to help you better prepare for the year ahead.

Fund Short-term Savings. Financial advisors suggest that you maintain 3-to-6 months of expenses on hand in a savings account that is immediately available for emergencies. If you’ve had a good year, this is the perfect time to open or contribute to your First National Bank savings account.

Review Your Homeowners’ Insurance. If you own a home in Maine, chances are the value of your home has increased by more than 10% this year alone. With the price of building materials rising even faster, the cost to replace your home in a catastrophic event may have increased beyond the limits of your homeowners’ policy. Now is a good time to review with your insurance agent to make sure you are covered.

Keep Pace with Inflation. Inflation is running hot. According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) was up 6.8% in November from year ago levels. A financial advisor from First National Wealth Management may be able to help. In this YouTube video, Portfolio Manager Chris Shelton explains what inflation is and what it can mean for your future financial plans.

Contribute to Your 401(k). December 31,2021 is the last day you can contribute to your 401(k) in order to take advantage of pre-tax savings this year. If you do not have a 401(k), you might consider contributing to an IRA with a deadline for 2021 contributions of April 15, 2022.

Pay down high interest debt. The average credit card carries an interest rate of 16%. You can earn a 16% risk-free rate of return simply by paying any outstanding balance. If you do not have available cash, some customers use their First National Bank home equity line to pay off their credit debt – saving the difference between the interest of their line and the interest on their credit card.

First National Bank Finalizes Lease of Brewer location at 5 Parkway South

DAMARISCOTTA, ME – On Wednesday, October 20^th, 2021, First National Bank, a subsidiary of The First Bancorp, Inc. (NASDAQ: FNLC), completed its lease agreement of 5 Parkway South in Brewer, Maine for its newest branch office. Brewer will be First National Bank’s second branch location in Penobscot County, joining their Bangor location.

First National Bank intends to open a full-service branch office offering personal and business banking services along with a complete line of investment services from First National Wealth Management, a division of First National Bank.

“First National Bank is elated to expand into the Brewer community,” stated Tony C. McKim, President and CEO of FNB. “We’re deeply committed to serving individuals, families and businesses throughout Penobscot County.”

Subject to receiving all required legal and regulatory approvals, McKim expects the Brewer branch to open during the first quarter of 2022.

First National Bank operates in Lincoln, Knox, Waldo, Hancock, Washington and Penobscot Counties. For more information about First National Bank, call 1-800-564-3195 or visit www.thefirst.com.

2022 Customer Photo Contest Winners

DAMARISCOTTA – First National Bank is proud to announce the winners of its fourteenth annual Customer Photo Calendar Contest. Fifteen color photographs have been chosen from over 250 entries, and each winning photographer will be awarded a $150 cash prize. The images will appear in the Bank’s 2022 desk calendar, tide calendar and wall calendar, which will be available to customers in all offices of First National Bank by mid-November.

The winning entrants are: Cover – Raymond Boulier of Corinth; January – Sean Sheppard of Rockland; February – Brandon Sutton of Pembroke; March – Mark Ruppert of Freeport; April – Nichole McClure of Bucksport; May – Renee Heal of Rockport; June – Penny Walls of Lamoine; July – Lois Glaser of Boothbay Harbor; August – Nicholas LaBreck of Rockland; September – Brittany Carter-Burpee of Blue Hill; October – Don Dunbar of Perry; November – Amanda Paradis of Sumner; December – Ted Mahler of South Thomaston; wall calendar image – Zachary Holderby of Penobscot; tide chart image – Leo Kowal of Eastport.

First National Bank began asking its customers in January to submit their very best original, scenic Maine shots. All customers of First National Bank -- professionals and amateurs, employees and their family members -- were encouraged to enter the contest. To continue First National Bank’s tradition of being a genuine Maine community bank, the custom calendars are being designed by Proforma Marketing Essentials in Camden.

“Every year we are amazed by the spectacular photographs taken by our customers,” said Susan Norton, Executive Vice President. “Producing a custom photo desk calendar that highlights our customers’ talents and the natural beauty of our state is such a win-win situation. We look forward to sharing the 2022 desk calendar this fall.”

First National Bank is an independent community bank with 17 offices in Lincoln, Knox, Waldo, Hancock, Washington and Penobscot Counties. For more information about First National Bank, please call 800-564-3195 or visit www.thefirst.com. Find us on Facebook.

First National Bank’s Dream First Community Update

DAMARISCOTTA, MAINE – First National Bank recently announced that it has made donations totaling over $29,000 to thirty-five organizations fighting food insecurity in the bank’s market area in response to its program Dream First Community.

Dream First Community supports local businesses while helping tackle food insecurity in Maine. When a customer shops using their First National Bank VISA® Debit Card at partner local merchants, First National Bank donates money to local area food pantries and customers become eligible to win gift cards to their favorite local businesses.

First National Bank’s program most recently contributed $2,500 to The Common Good Soup Kitchen in Southwest Harbor to replace a freezer that was critical to their food preparation and storage needs.

“The Common Good Soup Kitchen is honored to receive community support that ensures our ability to move forward with our mission,” said Executive Director, Laurie Ward. “We are so thankful for First National Bank’s Dream First Community Program. What a wonderful community resource that helps local business, customers as well as non-profits like ours.”

“We believe in the positive impact our Dream First Community program is making,” said, First National Bank’s President and CEO, Tony McKim. “We look forward to continuing our support for these vital organizations and working together to ensure that the best days are ahead for all of our customers and the towns in our market area.”

To find a complete list of participating merchants visit www.DreamFirstCommunity.com

First National Bank launches Dream First Community with $16,500 donation

First National Bank recently announced that it has made donations totaling $16,500 to twenty-eight food pantries in the bank’s market area to celebrate the launch of its new program, Dream First Community.

Dream First Community supports local businesses while helping tackle food insecurity in Maine. When a customer shops using their First National Bank VISA® Debit Card at partner local merchants, First National Bank donates money to local area food banks and customers become eligible to win gift cards to their favorite local businesses.

“First National Bank is grateful for the critical services that our food banks provide our neighbors in need. To us, there is nothing more important than keeping things local,” remarked Tony C. McKim, President and CEO. “Dream First Community helps us move our communities forward, together.”

The twenty-eight food pantries included: Area Interfaith Outreach Food Pantry in Rockland, Bar Harbor Food Pantry, Belfast Soup Kitchen, Boothbay Region Food Pantry, Bread for the Journey in Warren, Bread of Life Food Pantry in Swan's Island, Camden Area Christian Food Pantry, Come Spring Food Pantry in Union, Ecumenical Food Pantry in Bangor, Friendship/Cushing Food Pantry, Garrapy Food Pantry in Eastport , Help Yourself Shelf in Wiscasset, Irene Chadbourne Food Pantry in Calais, Little Free Food Pantry in Vinalhaven, Loaves and Fishes in Ellsworth, Magic School Bus from Healthy Peninsula in Blue Hill, New Harbor Food Pantry, Newcastle Ecumenical Food Pantry, Salvation Army Food Pantry in Bangor, St. George Community Cupboard, Thomaston Interchurch Fellowship, Together Place Food Pantry in Bangor, Tree of Life in Blue Hill, Waldoboro Food Pantry, Westside Food Pantry in Southwest Harbor, Wiscasset Food Pantry and Woodland Community Food Pantry in Baileyville.

To find a complete list of participating merchants visit www.DreamFirstCommunity.com

First National Bank Finalizes Purchase of Belfast location at 1B Belmont Ave

BELFAST, ME – On Monday, December 14, 2020, First National Bank, a subsidiary of The First Bancorp, Inc. (NASDAQ: FNLC), completed its purchase of 1B Belmont Avenue in Belfast, Maine from Bangor Savings Bank, a subsidiary of Bangor Bancorp, MHC. The transaction value per the preliminary closing statement is $25.2 million, consisting of loans, the building, equipment, and deposit premium. Prior to completing the transaction, First National Bank obtained all required legal and regulatory approvals.

The 1B Belmont Avenue branch in Belfast was previously operated by Damariscotta Bank and Trust and was purchased from Bangor Savings Bank. It was one of six Maine branches Bangor Savings Bank acquired from Damariscotta Bank and Trust and was divested to resolve concerns in the market raised by the U.S. Department of Justice’s Antitrust Division.

“First National Bank is so pleased to be in Belfast,” stated Tony C. McKim, President and CEO of FNB. “While lobbies remain closed for the time being, we look forward to welcoming customers at the drive-up and through our curbside banking option. We feel fortunate to be part of this vibrant community.”

With this transaction, First National Bank operates 17 branches in Lincoln, Knox, Waldo, Hancock, Washington and Penobscot Counties. For more information about First National Bank, call 1-800-564-3195 or visit www.thefirst.com.