First National Bank


223 Main St
Damariscotta, ME 04543
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Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD N.A. 5.41% →
2-Year CD N.A. 5.00% →
5-Year CD N.A. 4.55% →
30-Year Mortgage 7.17% 4.91% →
15-Year Mortgage 6.84% 4.39% →
HELOC 5.25% 0.99% →

2024 Overview

General Bank Information

First National Bank is an FDIC insured institution located in Damariscotta, ME. It was founded in 1864 and has approximately $2.91 billion in assets. Customers can open an account at one of its 16 branches.

FDIC Insured Yes
FDIC Certificate # 4256
Date Established 1864
Assets $ 2.91 billion
Loans $ 2.11 billion
Deposits $ 2.60 billion
Capital $ 214.53 million

For a more detailed analysis of First National Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - April 12, 2024

Your Current Location: Virginia, VA 20146

Loan Rates - April 12, 2024

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.


First National Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

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Climate Policy and Initiatives

First National Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

First National Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First National Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
First National Bank U.S. Bank Average
1.09% 3.96%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2024, First National Bank had $2,607,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $214,531,000 in equity and $24,030,000 in loans loss reserves. That gives it a Texas Ratio of 1.09%.

Return on Equity
First National Bank U.S. Bank Average
14.98% 12.20%

First National Bank has a Return on Equity of 14.98% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

First National Bank U.S. Bank Average
7.37% 10.76%

First National Bank has a Capitalization of 7.37% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

First National Bank Balance Sheet Analysis

As of December 31, 2023, First National Bank had assets of $2,911,223,000, loans of $2,105,424,000, and deposits of $2,600,329,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2024
Cash & Balances due from depository institutions $ 35.43 million
Interest-bearing balances $ 3.49 million
Total securities $ 667.29 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.11 billion
Loan loss allowance $ 24.03 million
Trading account assets $ 4.35 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 5.45 million
All other assets $ 56.85 million
     Total Assets $ 2.70 billion
Total deposits $ 2.60 billion
      Interest-bearing deposits $ 2.31 billion
      Deposits held in domestic offices $ 2.60 billion
      % insured (estimated) 84.34%
Federal funds purchased and repurchase agreements $ 49.58 million
Trading liabilities N.A.
Other borrowed funds $ 55.09 million
Subordinated debt N.A.
All other liabilities $ 17.31 million
      Total Liabilities $ 2.70 billion
      Shareholders’ Equity $ 214.53 million

Summary Income Statement

December 31, 2024
Total Interest Income $ 129.07 million
Total Interest Expense $ 62.97 million
Net interest income $ 66.11 million
Provision for loan and lease losses $ 1.18 million
Total non interest income $ 14.58 million
Total non interest expense $ 42.60 million
Pre-tax Net Operating Income $ 24.53 million

Bank Loan Profile?

The top three loan types in First National Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in Maine, First National Bank has a significantly higher percent of Construction and Development Loans, Farm Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 31.10
Credit Card Loans 0.00
Consumer Auto Loans 0.16
Small Business Loans 8.98
Construction and Development Loans 8.21
Commercial Real Estate 26.01
Commercial and Industrial Loans 10.91
Farm Loans 2.16

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