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Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Acronyms, Abbreviations and Definitions

The following is provided to aid the reader and provide a reference page when reviewing these sections of the Form 10-Q.


Abbreviation			Description			Abbreviation			Description
ACL			Allowance for credit losses			GAAP			Accounting principles generally accepted in the U.S.
AFS			Available-for-sale			GDP			Gross domestic product
ALCO			Asset/Liability Committee			GNMA			Government National Mortgage Association
AOCI			Accumulated other comprehensive income (loss)			HTM			Held-to-maturity
ASC			Accounting Standards Codification			IAL			Individually Analyzed Loans
ASU			Accounting Standards Update			IRS			Internal Revenue Service
C&I			Commercial and Industrial			MPF			Mortgage Partnership Finance Program
CDs			Certificates of deposit			OAEM			Other assets especially mentioned
CECL			Current Expected Credit Loss			OCC			Office of the Comptroller of the Currency
CET1			Common Equity Tier 1			OCI			Other comprehensive income (loss)
CLLD			Construction, land, and land development			OIS			Overnight Indexed Swap
EPS			Earnings per share			OREO			Other real estate owned
FASB			Financial Accounting Standards Board			POR			Period of Redemption
FDIC			Federal Deposit Insurance Corporation			PSA			Public Securities Association
FHLB			Federal Home Loan Bank			SEC			Securities and Exchange Commission
FHLBB			Federal Home Loan Bank of Boston			SOFR			Secured Overnight Financing Rate
FHLMC			Federal Home Loan Mortgage Corporation			The 2020 Plan			The 2020 Equity Incentive Plan
FNMA			Federal National Mortgage Association			The Bank			First National Bank
FOMC			Federal Open Market Committee			The Company			The First Bancorp, Inc.
FRB			Federal Reserve Board			U.S.			United States of America
FRBB			Federal Reserve Bank of Boston			USD			U.S. Dollar