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Condensed Financial Information of Parent (Tables) | 12 Months Ended
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Dec. 31, 2017
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, | 2017 |  | 2016
Assets |  |  |
Cash and cash equivalents | $ | 958,000 |  |  | $ | 613,000 |
Dividends receivable | 2,500,000 |  |  | 3,800,000 |
Investments | 441,000 |  |  | 432,000 |
Investment in subsidiary | 152,174,000 |  |  | 143,611,000 |
Premises and equipment | 3,000 |  |  | 4,000 |
Goodwill | 27,559,000 |  |  | 27,559,000 |
Other assets | 312,000 |  |  | 300,000 |
Total assets | $ | 183,947,000 |  |  | $ | 176,319,000 |
Liabilities and shareholders' equity |  |  |  |  |
Dividends payable | $ | 2,599,000 |  |  | $ | 3,778,000 |
Other liabilities | 27,000 |  |  | 20,000 |
Total liabilities | 2,626,000 |  |  | 3,798,000 |
Shareholders' equity |  |  |  |  |
Common stock | 108,000 |  |  | 108,000 |
Additional paid-in capital | 61,747,000 |  |  | 60,723,000 |
Retained earnings | 119,373,000 |  |  | 111,653,000 |
Accumulated other comprehensive income |  |  |
Net unrealized gain on available for sale securities, net of tax | 93,000 |  |  | 37,000 |
Total accumulated other comprehensive income | 93,000 |  |  | 37,000 |
Total shareholders' equity | 181,321,000 |  |  | 172,521,000 |
Total liabilities and shareholders' equity | $ | 183,947,000 |  |  | $ | 176,319,000 |
Statements of Income
For the years ended December 31, | 2017 |  | 2016 |  | 2015
Interest and dividends on investments | $ | 15,000 |  |  | $ | 22,000 |  |  | $ | 18,000 |
Net securities losses | (3,000 | ) |  | (6,000 | ) |  | — |
Total income | 12,000 |  |  | 16,000 |  |  | 18,000 |
Occupancy expense | 5,000 |  |  | 9,000 |  |  | 12,000 |
Other operating expense | 588,000 |  |  | 528,000 |  |  | 488,000 |
Total expense | 593,000 |  |  | 537,000 |  |  | 500,000 |
Loss before income taxes and Bank earnings | (581,000 | ) |  | (521,000 | ) |  | (482,000 | )
Applicable income taxes | (187,000 | ) |  | (186,000 | ) |  | (172,000 | )
Loss before Bank earnings | (394,000 | ) |  | (335,000 | ) |  | (310,000 | )
Equity in earnings of Bank |  |  |  |  |
Remitted | 11,180,000 |  |  | 11,300,000 |  |  | 10,000,000 |
Unremitted | 8,802,000 |  |  | 7,044,000 |  |  | 6,516,000 |
Net income | $ | 19,588,000 |  |  | $ | 18,009,000 |  |  | $ | 16,206,000 |
Statements of Cash Flows
For the years ended December 31, | 2017 |  | 2016 |  | 2015
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 19,588,000 |  |  | $ | 18,009,000 |  |  | $ | 16,206,000 |
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation | 5,000 |  |  | 8,000 |  |  | 12,000 |
Equity compensation expense | 392,000 |  |  | 298,000 |  |  | 296,000 |
Loss on sale of investments | 3,000 |  |  | 6,000 |  |  | — |
Tax benefit from vesting of restricted stock | — |  |  | 32,000 |  |  | — |
(Increase) decrease in other assets | 27,000 |  |  | 136,000 |  |  | (135,000 | )
(Increase) decrease in dividends receivable | 1,300,000 |  |  | (1,300,000 | ) |  | (50,000 | )
Increase (decrease) in dividends payable | (1,179,000 | ) |  | 112,000 |  |  | — |
Increase (decrease) in other liabilities | (3,000 | ) |  | (4,000 | ) |  | 160,000 |
Unremitted earnings of Bank | (8,802,000 | ) |  | (7,044,000 | ) |  | (6,516,000 | )
Net cash provided by operating activities | 11,331,000 |  |  | 10,253,000 |  |  | 9,973,000 |
Cash flows from investing activities: |  |  |  |  |
Proceeds from sales/maturities of investments | — |  |  | 87,000 |  |  | — |
Capital expenditures | (4,000 | ) |  | — |  |  | — |
Net cash provided by (used in) investing activities | (4,000 | ) |  | 87,000 |  |  | — |
Cash flows from financing activities: |  |  |  |  |
Purchase of common stock | (154,000 | ) |  | (129,000 | ) |  | (180,000 | )
Proceeds from sale of common stock | 632,000 |  |  | 531,000 |  |  | 465,000 |
Repurchase of warrants | — |  |  | (1,750,000 | ) |  | — |
Dividends paid | (11,460,000 | ) |  | (9,810,000 | ) |  | (9,349,000 | )
Net cash used in financing activities | (10,982,000 | ) |  | (11,158,000 | ) |  | (9,064,000 | )
Net increase (decrease) in cash and cash equivalents | 345,000 |  |  | (818,000 | ) |  | 909,000 |
Cash and cash equivalents at beginning of year | 613,000 |  |  | 1,431,000 |  |  | 522,000 |
Cash and cash equivalents at end of year | $ | 958,000 |  |  | $ | 613,000 |  |  | $ | 1,431,000 |

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