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The First Bancorp Inc. (FNLC) will raise its quarterly dividend by 4.5 percent to $0.23 per share in 2016.

The First Bancorp, headquartered in Damariscotta, Maine, is the holding company for First National Bank. The Bank provides a full range of consumer and commercial banking products and services. First Advisors, a division of First National Bank, provides investment advisory, private banking and trust services from five offices in Lincoln, Knox, Penobscot and Hancock Counties.