The First Bancorp, parent company of First National Bank, Jan. 18 announced record operating results for the year ended Dec. 31. Net income was $18 million, up $1.8 million, or 11.1 percent, from the $16.2 million reported for the year ended Dec. 31, 2015.

Earnings per common share on a fully diluted basis of $1.66 were up $0.15, or 9.9 percent, compared to 2015. The company also announced operating results for the quarter ended Dec. 31: Net income was $4.3 million, up $551,000, or 14.6 percent, from the fourth quarter of 2015, and earnings per common share on a fully diluted basis of $0.40 were up $0.05, or 14.3 percent, from the same period in 2015.

“This was the best annual performance in the company’s history,” observed Tony C. McKim, the company’s president and chief executive officer. “Increased net interest income was the primary driver for our 2016 performance, the result of continued strong growth in earning assets. At the same time, we saw a modest drop in operating expense in 2016, compared to 2015. We maintained the quarterly dividend at 23 cents per share in the fourth quarter and, given our record earnings, we also declared a special cash dividend of 12 cents per share for the same quarter.

For more information, contact F. Stephen Ward, The First Bancorp's treasurer and chief financial officer, at 563-3272.