The First Bancorp (FNLC) Increases Quarterly Dividend

June 19, 2008 5:11 PM EDT

The Board of Directors of The First Bancorp (NASDAQ: FNLC) declared a quarterly dividend of $0.19 per share. This second-quarter dividend, which is payable July 31, 2008, to shareholders of record as of July 7, 2008, represents an increase of 11.8% or 2.0 cents per share over the second-quarter dividend declared in 2007 of 17.0 cents per share.

"Lower interest rates as a result of Federal Reserve actions during the past year have been positive for The First Bancorp," President Daigneault said. "When combined with good asset growth, the result has been significant improvement in our net interest margin and earnings. At the same time, the dividend yield of 4.65% remains extremely attractive given the decline in interest rates. With strong earnings performance in the past several quarters, our current dividend yield and history of dividend increases, we feel The First Bancorp continues to perform well, especially in the present challenging economic environment."

The First Bancorp, Inc., formerly First National Lincoln Corporation, serves as the parent holding company of The First National Bank of Damariscotta. On January 14, 2005, the acquisition of FNB Bankshares (FNB) of Bar Harbor, Maine, was completed.

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