Company profile

Ticker
FNLC
Exchange
CEO
Tony C. McKim
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
FIRST NATIONAL LINCOLN CORP /ME/
SEC CIK
IRS number
10404322

FNLC stock data

(
)

Calendar

7 Aug 20
13 Aug 20
19 Dec 20

News

Company financial data Financial data

Quarter (USD) Jun 20 Mar 20 Dec 19 Sep 19
Revenue 18.79M 20.69M 19.66M 19.9M
Net income 6.57M 6.5M 6.69M 6.29M
Net profit margin 34.97% 31.39% 34.01% 31.59%
Net change in cash 1.03M 6.68M -6.99M 4.5M
Cash on hand 22.14M 21.12M 14.43M 21.42M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 78.65M 70.54M 60.83M 53.76M
Net income 25.53M 23.54M 19.59M 18.01M
Diluted EPS
Net profit margin 32.45% 33.36% 32.20% 33.50%
Net change in cash -4.7M -73K 1.84M 3.07M
Cash on hand 14.43M 19.13M 19.21M 17.37M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
30 Jul 20 McKim Tony C Common Stock Grant Aquire A No 0 1,500 0 92,537
3 Jun 20 Wootton Charles A Common Stock Sell Dispose S No 19.72 654.025 12.9K 11,195.679
20 May 20 McKim Tony C Common Stock Buy Aquire P No 19.59 2,000 39.18K 7,869.5
15 May 20 Norton Susan A Common Stock Grant Aquire A No 0 500 0 19,877
15 May 20 Plummer Tammy L Common Stock Grant Aquire A No 0 500 0 6,776
33.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 58 61 -4.9%
Opened positions 3 6 -50.0%
Closed positions 6 4 +50.0%
Increased positions 19 23 -17.4%
Reduced positions 24 12 +100.0%
13F shares
Current Prev Q Change
Total value 150.38M 187.17M -19.7%
Total shares 3.66M 3.72M -1.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK BlackRock 745.82K $16.41M +0.0%
Vanguard 524.78K $11.55M +9.6%
Dimensional Fund Advisors 463.55K $10.2M -0.1%
Manufacturers Life Insurance Company, The 419.66K $9.23M -7.7%
Renaissance Technologies 217.6K $4.79M -5.8%
STT State Street 191.13K $4.21M -3.1%
NTRS Northern Trust 126.44K $2.78M +2.8%
Geode Capital Management 125.09K $2.75M +8.4%
BK Bank of New York Mellon 87.73K $1.93M -4.2%
Foundry Partners 81.16K $1.79M -1.0%
Largest transactions
Shares Bought/sold Change
Vanguard 524.78K +46K +9.6%
Manufacturers Life Insurance Company, The 419.66K -34.83K -7.7%
Renaissance Technologies 217.6K -13.51K -5.8%
Geode Capital Management 125.09K +9.72K +8.4%
GS Goldman Sachs 0 -9.07K EXIT
SF Stifel Financial 22.42K -8K -26.3%
TFC Truist Financial 0 -8K EXIT
Beacon Investment Advisory Services 0 -8K EXIT
Bar Harbor Trust Services 0 -7.35K EXIT
Rhumbline Advisers 23.47K +7.1K +43.4%

Financial report summary

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Risks
  • We are subject to credit risk and may incur losses if loans are not repaid.
  • Our loan portfolio includes commercial, commercial real estate and commercial construction loans that may have higher risks than other types of loans.
  • Our allowance for loan losses may be insufficient and require additional provision from earnings.
  • The Maine foreclosure process can be lengthy and add additional losses for the Bank.
  • Our level of troubled debt restructured ("TDR") remains elevated.
  • Changes in interest rates could adversely affect our net interest income and profitability.
  • The value of our investment portfolio may be negatively affected by changes in interest rates and disruptions in securities markets.
  • Illiquidity could impair our ability to fund operations and jeopardize our financial condition.
  • Loss of lower-cost funding sources could lead to margin compression and decrease net interest income.
  • The soundness of other financial institutions could adversely affect us.
  • Lack of loan demand may adversely impact net interest income.
  • A decline in real estate values in our primary market area could adversely impact results of operations and financial condition.
  • Our investment management activities are dependent on the value of investment securities which may lead to revenue fluctuations.
  • We are dependent upon the services of our management team, and if we are unable to retain the services of our management team, our business may suffer.
  • Our internal control systems are inherently limited and may fail or be circumvented.
  • We continually encounter technological change that may be difficult (costly) to keep up with.
  • We are subject to security, transactional and operational risks relating to the use of technology that could damage our reputation and our business.
  • We are subject to claims and litigation that may impact our earnings and/or our reputation.
  • Damage to our reputation could significantly harm our businesses.
  • Our recent results may not be indicative of our future results.
  • Our business has been and may continue to be adversely affected by conditions in the financial markets and economic conditions generally and by increased regulation.
  • Economic risks are not limited to the United States.
  • We operate in a highly regulated environment and may be adversely affected by changes in law and regulations.
  • The Dodd-Frank Act created a new Consumer Financial Protection Bureau and tightened capital standards, and will continue to result in new laws and regulations that are expected to increase our costs of operations.
  • Significant competition in the financial services industry may impact our results.
  • There may not be a robust trading market for our common stock.
  • The price of our common stock may fluctuate.
  • The inability to receive dividends from the Bank would negatively affect our ability to pay dividends to shareholders.
  • If we do not manage our capital position strategically, our return on equity could be lower compared to our competitors as a result of our high level of capital.
  • We may issue additional equity securities or engage in other transactions which dilute our book value or affect the priority of the common stock, which may adversely affect the market price of our common stock.
  • Potential acquisitions may disrupt our business and dilute shareholder value.
Management Discussion
  • Net interest income on a tax-equivalent basis increased 4.6% or $2.4 million to $54.8 million for the year ended December 31, 2019 from the $52.4 million reported for the year ended December 31, 2018, with growth in earning assets responsible for the increase. The Company's net interest margin was 2.89% in 2019, compared to 2.91% in 2018.  
  • Total interest income on a tax-equivalent basis in 2019 was $80.9 million, a increase of $8.2 million or 11.3% from the $72.7 million posted by the Company in 2018. Total interest expense in 2019 was $26.2 million, an increase of $5.8 million or 28.6% from the $20.3 million posted by the Company in 2018. Tax-exempt interest income amounted to $8.6 million for the year ended December 31, 2019, $8.1 million for the year ended December 31, 2018 and $7.3 million for the year ended December 31, 2017.
  • Net interest income on a tax-equivalent basis increased 2.2% or $1.1 million to $52.4 million for the year ended December 31, 2018 from the $51.2 million reported for the year ended December 31, 2017, with growth in earning assets responsible for the increase. The Company's net interest margin was 2.91% in 2018, compared to 3.04% in 2017.
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