|         |                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------|
| • | Net Income for the third quarter of 2018 increased 19.1% over the third quarter of 2017 to $5.9 million. |

|         |                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Total loans outstanding at September 30, 2018 were $1.24 billion, up $19.1 million in the third quarter and $122.5 million, or 10.9%, year-over-year. |

|         |                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Low Cost deposits as of September 30, 2018 totaled $766 million, an increase of $107.1 million in the third quarter, and an increase of $47 million, or 6.5% year over year. |

|         |                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Efficiency Ratio (non-GAAP) improved to 50.82% in the third quarter, down from 51.02% in the second quarter of 2018 (the GAAP Efficiency Ratio was 52.77% in the third quarter of 2018, down from 52.92% in the second quarter of 2018). |

|         |                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------|
| • | The non-performing assets to total assets ratio at September 30, 2018 was 0.74%, down from 0.78% at June 30, 2018. |

----

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Earning asset growth led to a $136,000 increase in tax-equivalent net interest income from the third quarter of 2017 despite a decline in the net interest margin period to period from 3.02% to 2.83%. Through the first nine months of 2018 the net interest margin is 2.90%, down from 3.03% for the first nine months of 2017.  The quarterly and year-to-date margin declines are due to higher funding costs and a reduced benefit from tax-exempt assets. |

|         |                                                                                                                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Non-interest income net of securities gains was $3.0 million for the three months ended September 30, 2018, in-line with the third quarter of 2017 as revenue growth from First Advisors and deposit-based charges offset a period to period decline in mortgage banking income. |

|         |                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Non-interest expense for the period was up $203,000 or 2.5% from the third quarter of 2017 primarily due to increased employee expense incurred to support the Company’s growth. |

|         |                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Continued benefits from the Tax Cuts and Jobs Act of 2017 which reduced income tax expense by $1.7 million for the nine months ended September 30, 2018 from the same period in 2017. |

----

|                                                                                           |
|-------------------------------------------------------------------------------------------|
|                                                                                           |  |  |  |  |  |  |  |  |  |
| The First Bancorp                                                                         |
| Consolidated Balance Sheets (Unaudited)                                                   |
|                                                                                      |
| In thousands of dollars, except per share data                                            | September 30, 2018 | December 31, 2017 | September 30, 2017 |
| Assets                                                                                    |   |   |   |
| Cash and due from banks                                                                   | $ | 21,649 |  | $ | 19,207 |  | $ | 22,375 |  |
| Interest-bearing deposits in other banks                                                  | 51,045 |  | 860 |  | 584 |  |
| Securities available for sale                                                             | 305,444 |  | 300,172 |  | 298,999 |  |
| Securities to be held to maturity                                                         | 257,395 |  | 256,567 |  | 242,679 |  |
| Restricted equity securities, at cost                                                     | 11,586 |  | 10,358 |  | 10,798 |  |
| Loans held for sale                                                                       | 1,134 |  | 386 |  | 434 |  |
| Loans                                                                                     | 1,243,558 |  | 1,164,139 |  | 1,121,086 |  |
| Less allowance for loan losses                                                            | 11,682 |  | 10,729 |  | 11,012 |  |
| Net loans                                                                                 | 1,231,876 |  | 1,153,410 |  | 1,110,074 |  |
| Accrued interest receivable                                                               | 7,095 |  | 5,867 |  | 5,820 |  |
| Premises and equipment                                                                    | 21,451 |  | 22,502 |  | 21,731 |  |
| Other real estate owned                                                                   | 584 |  | 1,012 |  | 320 |  |
| Goodwill                                                                                  | 29,805 |  | 29,805 |  | 29,805 |  |
| Other assets                                                                              | 42,790 |  | 42,784 |  | 38,082 |  |
| Total assets                                                                              | $ | 1,981,854 |  | $ | 1,842,930 |  | $ | 1,781,701 |  |
| Liabilities                                                                               |   |   |   |
| Demand deposits                                                                           | $ | 170,728 |  | $ | 145,332 |  | $ | 158,797 |  |
| NOW deposits                                                                              | 357,834 |  | 318,043 |  | 325,695 |  |
| Money market deposits                                                                     | 129,516 |  | 163,898 |  | 134,257 |  |
| Savings deposits                                                                          | 237,424 |  | 232,605 |  | 234,456 |  |
| Certificates of deposit                                                                   | 389,317 |  | 284,066 |  | 250,865 |  |
| Certificates $100,000 to $250,000                                                         | 168,402 |  | 232,759 |  | 202,722 |  |
| Certificates $250,000 and over                                                            | 61,690 |  | 42,176 |  | 43,257 |  |
| Total deposits                                                                            | 1,514,911 |  | 1,418,879 |  | 1,350,049 |  |
| Borrowed funds                                                                            | 265,274 |  | 228,758 |  | 234,328 |  |
| Other liabilities                                                                         | 17,008 |  | 13,972 |  | 17,442 |  |
| Total Liabilities                                                                         | 1,797,193 |  | 1,661,609 |  | 1,601,819 |  |
| Shareholders' equity                                                                      |   |   |   |
| Common stock                                                                              | 109 |  | 108 |  | 108 |  |
| Additional paid-in capital                                                                | 62,497 |  | 61,747 |  | 61,446 |  |
| Retained earnings                                                                         | 129,247 |  | 121,144 |  | 118,360 |  |
| Net unrealized loss on securities available-for-sale                                      | (9,133 | ) | (2,901 | ) | (825 | ) |
| Net unrealized loss on securities transferred from available for sale to held to maturity | (194 | ) | (174 | ) | (140 | ) |
| Net unrealized gain on cash flow hedging derivative instruments                           | 2,282 |  | 1,544 |  | 1,035 |  |
| Net unrealized loss on postretirement benefit costs                                       | (147 | ) | (147 | ) | (102 | ) |
| Total shareholders' equity                                                                | 184,661 |  | 181,321 |  | 179,882 |  |
| Total liabilities & shareholders' equity                                              | $ | 1,981,854 |  | $ | 1,842,930 |  | $ | 1,781,701 |  |
| Common Stock                                                                              |   |   |   |
| Number of shares authorized                                                               | 18,000,000 |  | 18,000,000 |  | 18,000,000 |  |
| Number of shares issued and outstanding                                                   | 10,857,116 |  | 10,829,918 |  | 10,824,724 |  |
| Book value per common share                                                               | $ | 17.01 |  | $ | 16.74 |  | $ | 16.62 |  |
| Tangible book value per common share                                                      | $ | 14.25 |  | $ | 13.97 |  | $ | 13.84 |  |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |
| The First Bancorp                                        |
| Consolidated Statements of Income (Unaudited)            |
|                                                     |   |   |   |
|                                                     | For the nine months ended September 30, | For the quarter ended                September 30, |
| In thousands of dollars, except per share data           | 2018 | 2017 | 2018 | 2017 |
| Interest income                                          |   |   |   |   |
| Interest and fees on loans                               | $ | 39,164 |  | $ | 33,415 |  | $ | 13,735 |  | $ | 11,648 |  |
| Interest on deposits with other banks                    | 132 |  | 46 |  | 115 |  | 23 |  |
| Interest and dividends on investments                    | 12,446 |  | 11,549 |  | 4,236 |  | 3,846 |  |
|      Total interest income      | 51,742 |  | 45,010 |  | 18,086 |  | 15,517 |  |
| Interest expense                                         |   |   |   |   |
| Interest on deposits                                     | 11,131 |  | 6,769 |  | 4,274 |  | 2,473 |  |
| Interest on borrowed funds                               | 3,397 |  | 3,146 |  | 1,276 |  | 1,090 |  |
|      Total interest expense     | 14,528 |  | 9,915 |  | 5,550 |  | 3,563 |  |
| Net interest income                                      | 37,214 |  | 35,095 |  | 12,536 |  | 11,954 |  |
| Provision for loan losses                                | 1,333 |  | 1,750 |  | 333 |  | 750 |  |
| Net interest income after provision for loan losses      | 35,881 |  | 33,345 |  | 12,203 |  | 11,204 |  |
| Non-interest income                                      |   |   |   |   |
| Investment management and fiduciary income               | 2,285 |  | 1,995 |  | 743 |  | 655 |  |
| Service charges on deposit accounts                      | 1,624 |  | 1,562 |  | 527 |  | 511 |  |
| Net securities gains                                     | 137 |  | 471 |  | 1 |  | 468 |  |
| Mortgage origination and servicing income                | 1,042 |  | 1,260 |  | 350 |  | 499 |  |
| Other operating income                                   | 4,259 |  | 4,050 |  | 1,413 |  | 1,360 |  |
|      Total non-interest income  | 9,347 |  | 9,338 |  | 3,034 |  | 3,493 |  |
| Non-interest expense                                     |   |   |   |   |
| Salaries and employee benefits                           | 13,230 |  | 12,110 |  | 4,460 |  | 4,267 |  |
| Occupancy expense                                        | 1,871 |  | 1,816 |  | 574 |  | 589 |  |
| Furniture and equipment expense                          | 2,816 |  | 2,702 |  | 972 |  | 942 |  |
| FDIC insurance premiums                                  | 950 |  | 762 |  | 337 |  | 259 |  |
| Amortization of identified intangibles                   | 32 |  | 32 |  | 10 |  | 10 |  |
| Other operating expense                                  | 6,072 |  | 5,929 |  | 1,863 |  | 1,946 |  |
|      Total non-interest expense | 24,971 |  | 23,351 |  | 8,216 |  | 8,013 |  |
| Income before income taxes                               | 20,257 |  | 19,332 |  | 7,021 |  | 6,684 |  |
| Applicable income taxes                                  | 3,084 |  | 4,830 |  | 1,088 |  | 1,702 |  |
| Net Income                                               | $ | 17,173 |  | $ | 14,502 |  | $ | 5,933 |  | $ | 4,982 |  |
| Basic earnings per share                                 | $ | 1.59 |  | $ | 1.35 |  | $ | 0.55 |  | $ | 0.46 |  |
| Diluted earnings per share                               | $ | 1.58 |  | $ | 1.34 |  | $ | 0.55 |  | $ | 0.46 |  |

----

|                                                             |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |  |  |  |  |
| The First Bancorp                                           |
| Selected Financial Data (Unaudited)                         |
|                                                        |   |   |   |
|                                                        | As of and for the nine months ended September 30, | As of and for the quarter ended September 30, |
| Dollars in thousands, except for per share amounts          | 2018 | 2017 | 2018 | 2017 |
|                                                        |   |   |   |   |
| Summary of Operations                                       |   |   |   |   |
| Interest Income                                             | $ | 51,742 |  | $ | 45,010 |  | $ | 18,086 |  | $ | 15,517 |  |
| Interest Expense                                            | 14,528 |  | 9,915 |  | 5,550 |  | 3,563 |  |
| Net Interest Income                                         | 37,214 |  | 35,095 |  | 12,536 |  | 11,954 |  |
| Provision for Loan Losses                                   | 1,333 |  | 1,750 |  | 333 |  | 750 |  |
| Non-Interest Income                                         | 9,347 |  | 9,338 |  | 3,034 |  | 3,493 |  |
| Non-Interest Expense                                        | 24,971 |  | 23,351 |  | 8,216 |  | 8,013 |  |
| Net Income                                                  | 17,173 |  | 14,502 |  | 5,933 |  | 4,982 |  |
| Per Common Share Data                                       |   |   |   |   |
| Basic Earnings per Share                                    | $ | 1.59 |  | $ | 1.35 |  | $ | 0.55 |  | $ | 0.46 |  |
| Diluted Earnings per Share                                  | 1.58 |  | 1.34 |  | 0.55 |  | 0.46 |  |
| Cash Dividends Declared                                     | 0.82 |  | 0.71 |  | 0.29 |  | 0.24 |  |
| Book Value per Common Share                                 | 17.01 |  | 16.62 |  | 17.01 |  | 16.62 |  |
| Tangible Book Value per Common Share                        | 14.25 |  | 13.84 |  | 14.25 |  | 13.84 |  |
| Market Value                                                | 28.97 |  | 30.31 |  | 28.97 |  | 30.31 |  |
| Financial Ratios                                            |   |   |   |   |
| Return on Average Equity (a)                                | 12.47 | % | 10.86 | % | 12.63 | % | 10.91 | % |
| Return on Average Tangible Common Equity (a)                | 14.90 | % | 13.06 | % | 15.05 | % | 13.08 | % |
| Return on Average Assets (a)                                | 1.21 | % | 1.09 | % | 1.21 | % | 1.09 | % |
| Average Equity to Average Assets                            | 9.72 | % | 10.03 | % | 9.59 | % | 10.02 | % |
| Average Tangible Equity to Average Assets                   | 8.14 | % | 8.35 | % | 8.05 | % | 8.36 | % |
| Net Interest Margin Tax-Equivalent (a)                      | 2.90 | % | 3.03 | % | 2.83 | % | 3.02 | % |
| Dividend Payout Ratio                                       | 51.57 | % | 52.59 | % | 52.73 | % | 52.17 | % |
| Allowance for Loan Losses/Total Loans                       | 0.94 | % | 0.98 | % | 0.94 | % | 0.98 | % |
| Non-Performing Loans to Total Loans                         | 1.14 | % | 1.46 | % | 1.14 | % | 1.46 | % |
| Non-Performing Assets to Total Assets                       | 0.74 | % | 0.94 | % | 0.74 | % | 0.94 | % |
| Efficiency Ratio                                            | 51.86 | % | 49.51 | % | 50.82 | % | 49.88 | % |
| At  Period End                                              |   |   |   |   |
| Total Assets                                                | $ | 1,981,854 |  | $ | 1,781,701 |  | $ | 1,981,854 |  | $ | 1,781,701 |  |
| Total Loans                                                 | 1,243,558 |  | 1,121,086 |  | 1,243,558 |  | 1,121,086 |  |
| Total Investment Securities                                 | 574,425 |  | 552,476 |  | 574,425 |  | 552,476 |  |
| Total Deposits                                              | 1,514,911 |  | 1,350,049 |  | 1,514,911 |  | 1,350,049 |  |
| Total Shareholders' Equity                                  | 184,661 |  | 179,882 |  | 184,661 |  | 179,882 |  |
| (a) Annualized using a 365-day basis for both 2018 and 2017 |

----

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | For the nine months ended | For the quarters ended |
| In thousands of dollars             | September 30, 2018 | September 30, 2017 | September 30, 2018 | September 30, 2017 |
| Net interest income as presented    | $ | 37,214 |  | $ | 35,095 |  | $ | 12,536 |  | $ | 11,954 |  |
| Effect of tax-exempt income         | 1,603 |  | 2,953 |  | 557 |  | 1,003 |  |
| Net interest income, tax equivalent | $ | 38,817 |  | $ | 38,048 |  | $ | 13,093 |  | $ | 12,957 |  |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | For the nine months ended | For the quarters ended |
| In thousands of dollars                               | September 30, 2018 | September 30, 2017 | September 30, 2018 | September 30, 2017 |
| Non-interest expense, as presented                    | $ | 24,971 |  | $ | 23,351 |  | $ | 8,216 |  | $ | 8,013 |  |
| Net interest income, as presented                     | 37,214 |  | 35,095 |  | 12,536 |  | 11,954 |  |
| Effect of tax-exempt interest income                  | 1,603 |  | 2,953 |  | 557 |  | 1,003 |  |
| Non-interest income, as presented                     | 9,347 |  | 9,338 |  | 3,034 |  | 3,493 |  |
| Effect of non-interest tax-exempt income              | 124 |  | 248 |  | 41 |  | 83 |  |
| Net securities gains                                  | (137 | ) | (471 | ) | (1 | ) | (468 | ) |
| Adjusted net interest income plus non-interest income | $ | 48,151 |  | $ | 47,163 |  | $ | 16,167 |  | $ | 16,065 |  |
| Non-GAAP efficiency ratio                             | 51.86 | % | 49.51 | % | 50.82 | % | 49.88 | % |
| GAAP efficiency ratio                                 | 53.63 | % | 52.55 | % | 52.77 | % | 51.87 | % |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |  |
|                                      | For the nine months ended | For the quarters ended |
| In thousands of dollars                   | September 30, 2018 | September 30, 2017 | September 30, 2018 | September 30, 2017 |
| Average shareholders' equity as presented | $ | 184,132 |  | $ | 178,482 |  | $ | 186,399 |  | $ | 181,153 |  |
|   Less intangible assets        | (30,006 | ) | (30,049 | ) | (30,021 | ) | (30,064 | ) |
| Tangible average shareholders' equity     | $ | 154,126 |  | $ | 148,433 |  | $ | 156,378 |  | $ | 151,089 |  |