First Bancorp (FNLC) Unit Receives OCC Approval for 63 Union Street Purchase

August 27, 2012 4:46 PM EDT
The First, N.A., a subsidiary of The First Bancorp, Inc. (Nasdaq: FNLC), announced today that the Office of the Comptroller of the Currency (“OCC”) has approved The First’s purchase of the branch at 63 Union Street in Rockland, Maine from Camden National Bank. As part of the transaction, The First will acquire deposit accounts in the Rockland location as well as a small volume of loans. The transfer is expected to take place in late October, and customers who bank at the existing Rockland branches of The First and Camden National will not be impacted.

In addition, The First has received approval from the OCC to open a de novo branch at 145 Exchange Street in Bangor, Maine, in a building it is purchasing from Camden National. The First intends to open a full-service banking center at the 145 Exchange Street location in the first quarter of 2013. Camden National will be relocating from the 145 Exchange Street building to 80 Exchange Street.

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