XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.21.2

Investment Securities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract] |
Schedule of Available For Sale, Held-to-Maturity, and Restricted Equity Securities | The following table summarizes the amortized cost and estimated fair value of investment securities at September 30, 2021:
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value (Estimated)
Securities available for sale |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | 23,045,000 |  |  | $ | — |  |  | $ | (1,106,000) |  |  | $ | 21,939,000 |
Mortgage-backed securities | 247,606,000 |  |  | 2,751,000 |  |  | (3,104,000) |  |  | 247,253,000 |
State and political subdivisions | 34,590,000 |  |  | 895,000 |  |  | (306,000) |  |  | 35,179,000 |
Asset-backed securities | 4,777,000 |  |  | 76,000 |  |  | — |  |  | 4,853,000 |
| $ | 310,018,000 |  |  | $ | 3,722,000 |  |  | $ | (4,516,000) |  |  | $ | 309,224,000 |
Securities to be held to maturity |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | 35,600,000 |  |  | $ | 17,000 |  |  | $ | (1,161,000) |  |  | $ | 34,456,000 |
Mortgage-backed securities | 64,651,000 |  |  | 354,000 |  |  | (1,701,000) |  |  | 63,304,000 |
State and political subdivisions | 254,198,000 |  |  | 7,251,000 |  |  | (1,042,000) |  |  | 260,407,000 |
Corporate securities | 21,250,000 |  |  | 415,000 |  |  | (35,000) |  |  | 21,630,000 |
| $ | 375,699,000 |  |  | $ | 8,037,000 |  |  | $ | (3,939,000) |  |  | $ | 379,797,000 |
Restricted equity securities |  |  |  |  |  |  |
Federal Home Loan Bank Stock | $ | 7,802,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,802,000 |
Federal Reserve Bank Stock | 1,037,000 |  |  | — |  |  | — |  |  | 1,037,000 |
| $ | 8,839,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,839,000 |
The following table summarizes the amortized cost and estimated fair value of investment securities at December 31, 2020:
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value (Estimated)
Securities available for sale |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | 23,045,000 |  |  | $ | — |  |  | $ | (315,000) |  |  | $ | 22,730,000 |
Mortgage-backed securities | 238,516,000 |  |  | 5,507,000 |  |  | (617,000) |  |  | 243,406,000 |
State and political subdivisions | 37,752,000 |  |  | 1,722,000 |  |  | — |  |  | 39,474,000 |
Asset-backed securities | 7,723,000 |  |  | 43,000 |  |  | — |  |  | 7,766,000 |
| $ | 307,036,000 |  |  | $ | 7,272,000 |  |  | $ | (932,000) |  |  | $ | 313,376,000 |
Securities to be held to maturity |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | 44,149,000 |  |  | $ | 143,000 |  |  | $ | (18,000) |  |  | $ | 44,274,000 |
Mortgage-backed securities | 53,594,000 |  |  | 736,000 |  |  | (195,000) |  |  | 54,135,000 |
State and political subdivisions | 245,620,000 |  |  | 10,427,000 |  |  | (3,000) |  |  | 256,044,000 |
Corporate securities | 22,250,000 |  |  | 433,000 |  |  | (2,000) |  |  | 22,681,000 |
| $ | 365,613,000 |  |  | $ | 11,739,000 |  |  | $ | (218,000) |  |  | $ | 377,134,000 |
Restricted equity securities |  |  |  |  |  |  |
Federal Home Loan Bank Stock | $ | 9,508,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,508,000 |
Federal Reserve Bank Stock | 1,037,000 |  |  | — |  |  | — |  |  | 1,037,000 |
| $ | 10,545,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,545,000 |
The following table summarizes the amortized cost and estimated fair value of investment securities at September 30, 2020:
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value (Estimated)
Securities available for sale |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | 27,545,000 |  |  | $ | 180,000 |  |  | $ | (228,000) |  |  | $ | 27,497,000 |
Mortgage-backed securities | 270,336,000 |  |  | 6,737,000 |  |  | (649,000) |  |  | 276,424,000 |
State and political subdivisions | 35,271,000 |  |  | 1,240,000 |  |  | (292,000) |  |  | 36,219,000 |
| $ | 333,152,000 |  |  | $ | 8,157,000 |  |  | $ | (1,169,000) |  |  | $ | 340,140,000 |
Securities to be held to maturity |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | 26,146,000 |  |  | $ | 294,000 |  |  | $ | — |  |  | $ | 26,440,000 |
Mortgage-backed securities | 43,414,000 |  |  | 844,000 |  |  | (119,000) |  |  | 44,139,000 |
State and political subdivisions | 245,152,000 |  |  | 8,660,000 |  |  | (69,000) |  |  | 253,743,000 |
Corporate securities | 17,250,000 |  |  | 490,000 |  |  | — |  |  | 17,740,000 |
| $ | 331,962,000 |  |  | $ | 10,288,000 |  |  | $ | (188,000) |  |  | $ | 342,062,000 |
Restricted equity securities |  |  |  |  |  |  |
Federal Home Loan Bank Stock | $ | 9,508,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,508,000 |
Federal Reserve Bank Stock | 1,037,000 |  |  | — |  |  | — |  |  | 1,037,000 |
| $ | 10,545,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,545,000 |
Schedule of Contractual Maturities of Investment Securities | The following table summarizes the contractual maturities of investment securities at September 30, 2021:
| Securities available for sale |  | Securities to be held to maturity
| Amortized Cost |  | Fair Value (Estimated) |  | Amortized Cost |  | Fair Value (Estimated)
Due in 1 year or less | $ | — |  |  | $ | — |  |  | $ | 3,788,000 |  |  | $ | 3,763,000 |
Due in 1 to 5 years | 6,285,000 |  |  | 6,529,000 |  |  | 18,616,000 |  |  | 19,426,000 |
Due in 5 to 10 years | 37,971,000 |  |  | 38,400,000 |  |  | 171,039,000 |  |  | 176,007,000 |
Due after 10 years | 265,762,000 |  |  | 264,295,000 |  |  | 182,256,000 |  |  | 180,601,000 |
| $ | 310,018,000 |  |  | $ | 309,224,000 |  |  | $ | 375,699,000 |  |  | $ | 379,797,000 |
The following table summarizes the contractual maturities of investment securities at December 31, 2020:
| Securities available for sale |  | Securities to be held to maturity
| Amortized Cost |  | Fair Value (Estimated) |  | Amortized Cost |  | Fair Value (Estimated)
Due in 1 year or less | $ | 117,000 |  |  | $ | 120,000 |  |  | $ | 3,607,000 |  |  | $ | 3,641,000 |
Due in 1 to 5 years | 17,718,000 |  |  | 17,915,000 |  |  | 30,867,000 |  |  | 31,792,000 |
Due in 5 to 10 years | 49,697,000 |  |  | 51,001,000 |  |  | 183,679,000 |  |  | 190,153,000 |
Due after 10 years | 239,504,000 |  |  | 244,340,000 |  |  | 147,460,000 |  |  | 151,548,000 |
| $ | 307,036,000 |  |  | $ | 313,376,000 |  |  | $ | 365,613,000 |  |  | $ | 377,134,000 |
The following table summarizes the contractual maturities of investment securities at September 30, 2020:
| Securities available for sale |  | Securities to be held to maturity
| Amortized Cost |  | Fair Value (Estimated) |  | Amortized Cost |  | Fair Value (Estimated)
Due in 1 year or less | $ | 7,097,000 |  |  | $ | 7,159,000 |  |  | $ | 2,454,000 |  |  | $ | 2,462,000 |
Due in 1 to 5 years | 23,789,000 |  |  | 24,260,000 |  |  | 32,595,000 |  |  | 33,683,000 |
Due in 5 to 10 years | 58,430,000 |  |  | 60,086,000 |  |  | 176,400,000 |  |  | 182,370,000 |
Due after 10 years | 243,836,000 |  |  | 248,635,000 |  |  | 120,513,000 |  |  | 123,547,000 |
| $ | 333,152,000 |  |  | $ | 340,140,000 |  |  | $ | 331,962,000 |  |  | $ | 342,062,000 |
Schedule of Securities Gains and Losses | The following table shows securities gains and losses for the nine months and quarters ended September 30, 2021 and 2020:
| For the nine months ended September 30, |  | For the quarter ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Proceeds from sales of securities | $ | 19,435,000 |  |  | $ | 79,469,000 |  |  | $ | 3,743,000 |  |  | $ | — |
Gross realized gains | 627,000 |  |  | 1,526,000 |  |  | 1,000 |  |  | — |
Gross realized losses | (605,000) |  |  | (347,000) |  |  | (143,000) |  |  | — |
Net gain (loss) | $ | 22,000 |  |  | $ | 1,179,000 |  |  | $ | (142,000) |  |  | $ | — |
Related income taxes | $ | 5,000 |  |  | $ | 248,000 |  |  | $ | (29,000) |  |  | $ | — |
Schedule of Securities Temporarily Impaired | Information regarding securities temporarily impaired as of September 30, 2021 is summarized below:
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value (Estimated) |  | Unrealized Losses |  | Fair Value (Estimated) |  | Unrealized Losses |  | Fair Value (Estimated) |  | Unrealized Losses
U.S. Government-sponsored agencies | $ | 37,054,000 |  |  | $ | (1,396,000) |  |  | $ | 16,174,000 |  |  | $ | (871,000) |  |  | $ | 53,228,000 |  |  | $ | (2,267,000) |
Mortgage-backed securities | 207,951,000 |  |  | (4,207,000) |  |  | 17,337,000 |  |  | (598,000) |  |  | 225,288,000 |  |  | (4,805,000) |
State and political subdivisions | 50,050,000 |  |  | (1,348,000) |  |  | — |  |  | — |  |  | 50,050,000 |  |  | (1,348,000) |
Corporate securities | 3,465,000 |  |  | (35,000) |  |  | — |  |  | — |  |  | 3,465,000 |  |  | (35,000) |
| $ | 298,520,000 |  |  | $ | (6,986,000) |  |  | $ | 33,511,000 |  |  | $ | (1,469,000) |  |  | $ | 332,031,000 |  |  | $ | (8,455,000) |
As of December 31, 2020, there were 50 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 10 had been temporarily impaired for 12 months or more. Information regarding securities temporarily impaired as of December 31, 2020 is summarized below:
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value (Estimated) |  | Unrealized Losses |  | Fair Value (Estimated) |  | Unrealized Losses |  | Fair Value (Estimated) |  | Unrealized Losses
U.S. Government-sponsored agencies | $ | 30,212,000 |  |  | $ | (333,000) |  |  | $ | — |  |  | $ | — |  |  | $ | 30,212,000 |  |  | $ | (333,000) |
Mortgage-backed securities | 65,505,000 |  |  | (724,000) |  |  | 3,878,000 |  |  | (88,000) |  |  | 69,383,000 |  |  | (812,000) |
State and political subdivisions | 855,000 |  |  | (3,000) |  |  | — |  |  | — |  |  | 855,000 |  |  | (3,000) |
Corporate securities | 2,498,000 |  |  | (2,000) |  |  | — |  |  | — |  |  | 2,498,000 |  |  | (2,000) |
| $ | 99,070,000 |  |  | $ | (1,062,000) |  |  | $ | 3,878,000 |  |  | $ | (88,000) |  |  | $ | 102,948,000 |  |  | $ | (1,150,000) |
As of September 30, 2020, there were 75 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 10 had been temporarily impaired for 12 months or more. Information regarding securities temporarily impaired as of September 30, 2020 is summarized below:
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value (Estimated) |  | Unrealized Losses |  | Fair Value (Estimated) |  | Unrealized Losses |  | Fair Value (Estimated) |  | Unrealized Losses
U.S. Government-sponsored agencies | $ | 16,817,000 |  |  | $ | (228,000) |  |  | $ | — |  |  | $ | — |  |  | $ | 16,817,000 |  |  | $ | (228,000) |
Mortgage-backed securities | 79,816,000 |  |  | (654,000) |  |  | 4,216,000 |  |  | (114,000) |  |  | 84,032,000 |  |  | (768,000) |
State and political subdivisions | 19,201,000 |  |  | (361,000) |  |  | — |  |  | — |  |  | 19,201,000 |  |  | (361,000) |
| $ | 115,834,000 |  |  | $ | (1,243,000) |  |  | $ | 4,216,000 |  |  | $ | (114,000) |  |  | $ | 120,050,000 |  |  | $ | (1,357,000) |

X
- Definition Tabular presentation of available for sale securities, held-to-maturity securities and restricted equity securities as of the balance sheet date. + References No definition available. + Details
Name: | fnlc_ScheduleOfAvailableForSaleHeldToMaturityAndNonMarketableSecuritiesTableTextBlock
Namespace Prefix: | fnlc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investments in an unrealized loss position for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), including: (a) the aggregate related fair value of investments with unrealized losses, (b) the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfTemporaryImpairmentLossesInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration