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Condensed Financial Information of Parent (Tables) | 12 Months Ended
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Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed financial information for Parent | Condensed financial information for The First Bancorp, Inc. exclusive of its subsidiary is as follows: Balance Sheets
As of December 31, | 2013 |  | 2012
Assets |  |  |
Cash and cash equivalents | $ | 1,113,000 |  |  | $ | 2,685,000 |
Dividends receivable | 1,500,000 |  |  | 1,900,000 |
Investments | 543,000 |  |  | 429,000 |
Investment in subsidiary | 117,391,000 |  |  | 125,580,000 |
Premises and equipment | 32,000 |  |  | 43,000 |
Goodwill | 27,559,000 |  |  | 27,559,000 |
Other assets | 203,000 |  |  | 72,000 |
Total assets | $ | 148,341,000 |  |  | $ | 158,268,000 |
Liabilities and shareholders' equity |  |  |  |  |
Dividends payable | $ | 2,134,000 |  |  | $ | 1,923,000 |
Other liabilities | 109,000 |  |  | 22,000 |
Total liabilities | 2,243,000 |  |  | 1,945,000 |
Shareholders' equity |  |  |  |  |
Preferred stock | — |  |  | 12,402,000 |
Common stock | 106,000 |  |  | 98,000 |
Additional paid-in capital | 58,395,000 |  |  | 46,314,000 |
Retained earnings | 87,523,000 |  |  | 97,509,000 |
Accumulated other comprehensive income |  |  |
Net unrealized gain on available for sale securities, net of tax | 74,000 |  |  | — |
Total accumulated other comprehensive income | 74,000 |  |  | — |
Total shareholders' equity | 146,098,000 |  |  | 156,323,000 |
Total liabilities and shareholders' equity | $ | 148,341,000 |  |  | $ | 158,268,000 |
Statements of Income
For the years ended December 31, | 2013 |  | 2012 |  | 2011
Interest and dividends on investments | $ | 10,000 |  |  | $ | 10,000 |  |  | $ | 10,000 |
Net securities gains | — |  |  | — |  |  | 153,000 |
Total income | 10,000 |  |  | 10,000 |  |  | 163,000 |
Occupancy expense | 11,000 |  |  | 8,000 |  |  | 4,000 |
Other operating expense | 362,000 |  |  | 218,000 |  |  | 137,000 |
Total expense | 373,000 |  |  | 226,000 |  |  | 141,000 |
Income (loss) before income taxes | (363,000 | ) |  | (216,000 | ) |  | 22,000 |
Applicable income taxes | (128,000 | ) |  | (76,000 | ) |  | 15,000 |
Income (loss) before Bank earnings | (235,000 | ) |  | (140,000 | ) |  | 7,000 |
Equity in earnings of Bank |  |  |  |  |
Remitted | 7,096,000 |  |  | 9,694,000 |  |  | 8,710,000 |
Unremitted | 6,104,000 |  |  | 3,134,000 |  |  | 3,647,000 |
Net income | $ | 12,965,000 |  |  | $ | 12,688,000 |  |  | $ | 12,364,000 |
Statements of Cash Flows
For the years ended December 31, | 2013 |  | 2012 |  | 2011
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 12,965,000 |  |  | $ | 12,688,000 |  |  | $ | 12,364,000 |
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation | 11,000 |  |  | 8,000 |  |  | 13,000 |
Equity compensation expense | 214,000 |  |  | 85,000 |  |  | 22,000 |
Gain on sale of investment | — |  |  | — |  |  | (153,000 | )
Increase in other assets | (132,000 | ) |  | (15,000 | ) |  | (42,000 | )
Decrease in dividend receivable | 400,000 |  |  | — |  |  | — |
Increase (decrease) in other liabilities | 258,000 |  |  | (5,000 | ) |  | 44,000 |
Unremitted earnings of Bank | (6,104,000 | ) |  | (3,134,000 | ) |  | (3,647,000 | )
Net cash provided by operating activities | 7,612,000 |  |  | 9,627,000 |  |  | 8,601,000 |
Cash flows from investing activities: |  |  |  |  |
Proceeds from sales/maturities of investments | — |  |  | — |  |  | 12,773,000 |
Purchases of investments | — |  |  | — |  |  | (273,000 | )
Capital expenditures | — |  |  | (25,000 | ) |  | (29,000 | )
Net cash provided by (used in) investing activities | — |  |  | (25,000 | ) |  | 12,471,000 |
Cash flows from financing activities: |  |  |  |  |
Payment to repurchase preferred stock | (12,500,000 | ) |  | — |  |  | (12,500,000 | )
Proceeds from sale of common stock | 11,973,000 |  |  | 499,000 |  |  | 431,000 |
Dividends paid | (8,657,000 | ) |  | (8,310,000 | ) |  | (8,751,000 | )
Net cash used in financing activities | (9,184,000 | ) |  | (7,811,000 | ) |  | (20,820,000 | )
Net increase (decrease) in cash and cash equivalents | (1,572,000 | ) |  | 1,791,000 |  |  | 252,000 |
Cash and cash equivalents at beginning of year | 2,685,000 |  |  | 894,000 |  |  | 642,000 |
Cash and cash equivalents at end of year | $ | 1,113,000 |  |  | $ | 2,685,000 |  |  | $ | 894,000 |

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