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| The First Bancorp                                             |   |
|---------------------------------------------------------------|--------|
| Consolidated Balance Sheets (Unaudited)                       |   |
|                                                          |   |   |   |   |   |   |   |   |   |
| In thousands of dollars                                       |   | 3/31/2011 |   |   | 12/31/2010 |   |   | 3/31/2010 |   |
| Assets                                                        |   |   |   |   |   |   |   |   |   |
| Cash and due from banks                                       |   | $ | 13,700 |   |   | $ | 13,838 |   |   | $ | 11,731 |   |
| Overnight funds sold                                          |   |   | 100 |   |   |   | 100 |   |   |   | - |   |
| Securities available for sale                                 |   |   | 325,451 |   |   |   | 293,229 |   |   |   | 131,441 |   |
| Securities to be held to maturity                             |   |   | 109,936 |   |   |   | 107,380 |   |   |   | 165,024 |   |
| Federal Home Loan Bank and Federal Reserve Bank stock,at cost |   |   | 15,443 |   |   |   | 15,443 |   |   |   | 15,443 |   |
| Loans held for sale                                           |   |   | 450 |   |   |   | 2,806 |   |   |   | 4,152 |   |
| Loans                                                         |   |   | 894,684 |   |   |   | 887,596 |   |   |   | 935,008 |   |
| Less allowance for loan losses                                |   |   | 14,000 |   |   |   | 13,316 |   |   |   | 14,283 |   |
| Net loans                                                     |   |   | 880,684 |   |   |   | 874,280 |   |   |   | 920,725 |   |
| Accrued interest receivable                                   |   |   | 6,236 |   |   |   | 5,263 |   |   |   | 6,110 |   |
| Premises and equipment                                        |   |   | 18,685 |   |   |   | 18,980 |   |   |   | 18,069 |   |
| Other real estate owned                                       |   |   | 4,575 |   |   |   | 4,929 |   |   |   | 6,351 |   |
| Goodwill                                                      |   |   | 27,684 |   |   |   | 27,684 |   |   |   | 27,684 |   |
| Other assets                                                  |   |   | 28,094 |   |   |   | 29,870 |   |   |   | 29,814 |   |
| Total assets                                                  |   | $ | 1,431,038 |   |   | $ | 1,393,802 |   |   | $ | 1,336,544 |   |
| Liabilities                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                               |   | $ | 67,502 |   |   | $ | 74,032 |   |   | $ | 61,371 |   |
| NOW deposits                                                  |   |   | 120,045 |   |   |   | 119,823 |   |   |   | 111,965 |   |
| Money market deposits                                         |   |   | 73,766 |   |   |   | 71,604 |   |   |   | 84,694 |   |
| Savings deposits                                              |   |   | 108,359 |   |   |   | 100,870 |   |   |   | 94,833 |   |
| Certificates of deposit                                       |   |   | 308,127 |   |   |   | 231,945 |   |   |   | 228,670 |   |
| Certificates $100,000 to $250,000                             |   |   | 337,018 |   |   |   | 338,452 |   |   |   | 314,010 |   |
| Certificates $250,000 and over                                |   |   | 35,440 |   |   |   | 37,792 |   |   |   | 43,637 |   |
| Total deposits                                                |   |   | 1,050,257 |   |   |   | 974,518 |   |   |   | 939,180 |   |
| Borrowed funds                                                |   |   | 217,534 |   |   |   | 257,330 |   |   |   | 236,913 |   |
| Other liabilities                                             |   |   | 11,703 |   |   |   | 12,106 |   |   |   | 11,909 |   |
| Total Liabilities                                             |   |   | 1,279,494 |   |   |   | 1,243,954 |   |   |   | 1,188,002 |   |
| Shareholders' equity                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred stock                                               |   |   | 24,729 |   |   |   | 24,705 |   |   |   | 24,631 |   |
| Common stock                                                  |   |   | 98 |   |   |   | 98 |   |   |   | 98 |   |
| Additional paid-in capital                                    |   |   | 45,551 |   |   |   | 45,474 |   |   |   | 45,209 |   |
| Retained earnings                                             |   |   | 82,623 |   |   |   | 81,701 |   |   |   | 78,919 |   |
| Net unrealized gain/(loss) on securities available-for-sale   |   |   | (1,389 | ) |   |   | (2,057 | ) |   |   | (108 | ) |
| Net unrealized loss on postretirement benefit costs           |   |   | (68 | ) |   |   | (73 | ) |   |   | (207 | ) |
| Total shareholders' equity                                    |   |   | 151,544 |   |   |   | 149,848 |   |   |   | 148,542 |   |
| Total liabilities & shareholders' equity                  |   | $ | 1,431,038 |   |   | $ | 1,393,802 |   |   | $ | 1,336,544 |   |
| Common Stock                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Number of shares authorized                                   |   |   | 18,000,000 |   |   |   | 18,000,000 |   |   |   | 18,000,000 |   |
| Number of shares issued and outstanding                       |   |   | 9,786,964 |   |   |   | 9,773,025 |   |   |   | 9,751,474 |   |
| Book value per common share                                   |   | $ | 12.96 |   |   | $ | 12.80 |   |   | $ | 12.71 |   |
| Tangible book value per common share                          |   | $ | 10.13 |   |   | $ | 9.97 |   |   | $ | 9.87 |   |

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| The First Bancorp                                             |   |
|---------------------------------------------------------------|--------|
| Consolidated Statements of Income (Unaudited)                 |   |
|                                                          |   |   |   |   |   |   |
|                                                          |   | For the three months ended |   |
| In thousands of dollars                                       |   | 3/31/2011 |   |   | 3/31/2010 |   |
| Interest income                                               |   |   |   |   |   |   |
| Interest and fees on loans                                    |   | $ | 10,173 |   |   | $ | 11,150 |   |
| Interest on deposits with other banks                         |   |   | 2 |   |   |   | 2 |   |
| Interest and dividends on investments                         |   |   | 4,079 |   |   |   | 2,981 |   |
|      Total interest income           |   |   | 14,254 |   |   |   | 14,133 |   |
| Interest expense                                              |   |   |   |   |   |   |   |   |
| Interest on deposits                                          |   |   | 2,563 |   |   |   | 2,480 |   |
| Interest on borrowed funds                                    |   |   | 1,186 |   |   |   | 1,632 |   |
|      Total interest expense          |   |   | 3,749 |   |   |   | 4,112 |   |
| Net interest income                                           |   |   | 10,505 |   |   |   | 10,021 |   |
| Provision for loan losses                                     |   |   | 2,100 |   |   |   | 2,400 |   |
| Net interest income after provision for loan losses           |   |   | 8,405 |   |   |   | 7,621 |   |
| Non-interest income                                           |   |   |   |   |   |   |   |   |
| Investment management and fiduciary income                    |   |   | 424 |   |   |   | 411 |   |
| Service charges on deposit accounts                           |   |   | 640 |   |   |   | 709 |   |
| Net securities gains                                          |   |   | - |   |   |   | 2 |   |
| Mortgage origination and servicing income                     |   |   | 459 |   |   |   | 278 |   |
| Other operating income                                        |   |   | 754 |   |   |   | 775 |   |
|      Total non-interest income       |   |   | 2,277 |   |   |   | 2,175 |   |
| Non-interest expense                                          |   |   |   |   |   |   |   |   |
| Salaries and employee benefits                                |   |   | 3,077 |   |   |   | 2,745 |   |
| Occupancy expense                                             |   |   | 449 |   |   |   | 394 |   |
| Furniture and equipment expense                               |   |   | 550 |   |   |   | 581 |   |
| FDIC insurance premiums                                       |   |   | 401 |   |   |   | 475 |   |
| Amortization of identified intangibles                        |   |   | 71 |   |   |   | 71 |   |
| Other operating expense                                       |   |   | 1,940 |   |   |   | 2,016 |   |
|      Total non-interest expense      |   |   | 6,488 |   |   |   | 6,282 |   |
| Income before income taxes                                    |   |   | 4,194 |   |   |   | 3,514 |   |
| Applicable income taxes                                       |   |   | 1,051 |   |   |   | 830 |   |
| NET INCOME                                                    |   | $ | 3,143 |   |   | $ | 2,684 |   |
| Less dividends and amortization of premium on preferred stock |   |   | 337 |   |   |   | 337 |   |
| Net income available to common shareholders                   |   | $ | 2,806 |   |   | $ | 2,347 |   |
| Basic earnings per share                                      |   | $ | 0.29 |   |   | $ | 0.24 |   |
| Diluted earnings per share                                    |   | $ | 0.29 |   |   | $ | 0.24 |   |
| Weighted average number of shares outstanding                 |   |   | 9,778,172 |   |   |   | 9,750,056 |   |
| Incremental shares                                            |   |   | 9,111 |   |   |   | 4,888 |   |
| Cash dividends declared per share                             |   | $ | 0.195 |   |   | $ | 0.195 |   |
| Payout Ratio                                                  |   |   | 67.24 | % |   |   | 81.25 | % |

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| The First Bancorp                            |   |
|----------------------------------------------|--------|
| Selected Financial Data (Unaudited)          |   |
|                                         |   |   |   |   |   |   |
| Dollars in thousands,                        |   | For the three months ended |   |
| except for per share amounts                 |   | 3/31/2011 |   |   | 3/31/2010 |   |
|                                         |   |   |   |   |   |   |
| Summary of Operations                        |   |   |   |   |   |   |
| Interest Income                              |   | $ | 14,254 |   |   | $ | 14,133 |   |
| Interest Expense                             |   |   | 3,749 |   |   |   | 4,112 |   |
| Net Interest Income                          |   |   | 10,505 |   |   |   | 10,021 |   |
| Provision for Loan Losses                    |   |   | 2,100 |   |   |   | 2,400 |   |
| Non-Interest Income                          |   |   | 2,277 |   |   |   | 2,175 |   |
| Non-Interest Expense                         |   |   | 6,488 |   |   |   | 6,282 |   |
| Net Income                                   |   |   | 3,143 |   |   |   | 2,684 |   |
| Per Common Share Data                        |   |   |   |   |   |   |   |   |
| Basic Earnings per Share                     |   | $ | 0.29 |   |   | $ | 0.24 |   |
| Diluted Earnings per Share                   |   |   | 0.29 |   |   |   | 0.24 |   |
| Cash Dividends Declared                      |   |   | 0.195 |   |   |   | 0.195 |   |
| Book Value per Common Share                  |   |   | 12.96 |   |   |   | 12.71 |   |
| Tangible Book Value per Common Share         |   |   | 10.13 |   |   |   | 9.87 |   |
| Market Value                                 |   |   | 15.25 |   |   |   | 15.94 |   |
| Financial Ratios                             |   |   |   |   |   |   |   |   |
| Return on Average Equity (a)                 |   |   | 10.02 | % |   |   | 8.69 | % |
| Return on Average Tangible Common Equity (a) |   |   | 11.43 | % |   |   | 11.15 | % |
| Return on Average Assets (a)                 |   |   | 0.90 | % |   |   | 0.82 | % |
| Average Equity to Average Assets             |   |   | 10.76 | % |   |   | 11.30 | % |
| Average Tangible Equity to Average Assets    |   |   | 8.80 | % |   |   | 9.22 | % |
| Net Interest Margin Tax-Equivalent (a)       |   |   | 3.40 | % |   |   | 3.51 | % |
| Dividend Payout Ratio                        |   |   | 67.24 | % |   |   | 81.25 | % |
| Allowance for Loan Losses/Total Loans        |   |   | 1.56 | % |   |   | 1.53 | % |
| Non-Performing Loans to Total Loans          |   |   | 2.51 | % |   |   | 2.46 | % |
| Non-Performing Assets to Total Assets        |   |   | 1.89 | % |   |   | 2.20 | % |
| Efficiency Ratio                             |   |   | 48.28 | % |   |   | 49.06 | % |
| At  Period End                     |   |   |   |   |   |   |   |   |
| Total Assets                                 |   | $ | 1,431,038 |   |   | $ | 1,336,544 |   |
| Total Loans                                  |   |   | 894,684 |   |   |   | 935,008 |   |
| Total Investment Securities                  |   |   | 450,830 |   |   |   | 311,908 |   |
| Total Deposits                               |   |   | 1,050,257 |   |   |   | 939,180 |   |
| Total Shareholders’ Equity             |   |   | 151,544 |   |   |   | 148,542 |   |
| (a) Annualized using a 365-day basis         |   |   |   |   |   |   |   |   |

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|                                |   | For the three months ended |   |
|-------------------------------------|--------|----------------------------|--------|
|                                |   | 3/31/2011                  |   |   | 3/31/2010 |   |
| Net interest income as presented    |   | $                          | 10,505 |   |   | $ | 10,021 |   |
| Effect of tax-exempt income         |   |                       | 609    |   |   |   | 560 |   |
| Net interest income, tax equivalent |   | $                          | 11,114 |   |   | $ | 10,581 |   |

|                                                  |   | For the three months ended |   |
|-------------------------------------------------------|--------|----------------------------|--------|
| In thousands of dollars                               |   | 3/31/2011                  |   |   | 3/31/2010 |   |
| Non-interest expense, as presented                    |   | $                          | 6,488  |   |   | $ | 6,282 |   |
| Net securities losses                                 |   |                       | -      |   |   |   | - |   |
| Adjusted non-interest expense                         |   |                       | 6,488  |   |   |   | 6,282 |   |
| Net interest income, as presented                     |   |                       | 10,505 |   |   |   | 10,021 |   |
| Effect of tax-exempt income                           |   |                       | 609    |   |   |   | 560 |   |
| Non-interest income, as presented                     |   |                       | 2,277  |   |   |   | 2,175 |   |
| Effect of non-interest tax-exempt income              |   |                       | 47     |   |   |   | 47 |   |
| Net securities gains                                  |   |                       | -      |   |   |   | 2 |   |
| Adjusted net interest income plus non-interest income |   | $                          | 13,438 |   |   | $ | 12,805 |   |
| Non-GAAP efficiency ratio                             |   |                       | 48.28  | % |   |   | 49.06 | % |
| GAAP efficiency ratio                                 |   |                       | 50.76  | % |   |   | 51.51 | % |

|                                      |   | For the three months ended |    |
|-------------------------------------------|--------|----------------------------|---------|
|  In thousands of dollars             |   | 3/31/2011                  |    |   | 3/31/2010 |   |
| Average shareholders' equity as presented |   | $                          | 151,969 |   |   | $ | 149,911 |   |
|   Less preferred stock          |   |                       | (24,705 | ) |   |   | (24,606 | ) |
|   Less intangible assets        |   |                       | (27,684 | ) |   |   | (27,684 | ) |
| Average tangible common equity            |   | $                          | 99,580  |   |   | $ | 97,621 |   |

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