Daniel R. Daigneault, president and chief executive officer of The First, N.A., is pleased to announce that the bank will be celebrating its 150th anniversary as a nationally-chartered bank on May 30, 2014.

On May 30, 1864, our country’s first comptroller of the currency, Hugh McCulloch, signed the national bank charter for The First National Bank of Damariscotta, making the bank the 446th financial institution in the entire country to receive that designation.

In the span of 150 years, more than 25,000 national bank charters have been issued, but only 1,200 or so still operate today. Of all U.S. national banks still in existence, The First is the 18th oldest in the country, and the oldest Maine-based national bank.

“Longevity in business is the ultimate sign of success,” Daigneault said. “I attribute our company’s sustainability to five key principles, which are adaptability, foresight, discipline, focus, and sticking to what we know best: community banking.” He has served as president and chief executive officer of The First for 20 years.

In honor of The First’s 150th anniversary, there will be several bank-wide celebrations throughout the summer, including a bank-wide birthday party on Friday, May 30, where cake and punch will be served in all 16 banking offices.

Then in various dates throughout July and August, each branch will host its own ice cream social, featuring a special anniversary ice cream flavor created by Round Top Ice Cream of Damariscotta, aptly named “The First @ 150.”

All are welcome to stop by the banking offices in Bangor, Bar Harbor, Blue Hill, Boothbay Harbor, Calais, Camden, Damariscotta, Eastport, Ellsworth, Northeast Harbor, Rockland, Rockport, Southwest Harbor, Waldoboro, and Wiscasset to join in the celebrations.

The origins of The First, N.A. actually date back to 1852 when The People’s Bank was created to serve prominent businessmen and shipbuilders of the Damariscotta region. One year later, it was renamed Marine Bank of Damariscotta to better reflect the region and the mission of the bank at that time. After the passage of the National Bank Act in 1864, the bank applied for and was granted the national charter still active today.

Over the last 50 years, The First has expanded its market footprint to achieve needed growth and increased profitability. The bank grew to four offices in Lincoln County from 1975 to 1988, then went on to open four offices in Knox County from 1997 through 2012.

In 2004, The First National Bank of Bar Harbor approached The First National Bank of Damariscotta to discuss a merger of the two similar business models and service cultures. The merger came to fruition in January 2005, with the older charter of The First National Bank of Damariscotta surviving, and the name of the bank officially changing to The First, N.A.

Most recently, in October 2012, the bank purchased the former Bank of America branch in Rockland and in February 2013, The First opened its 16th office in downtown Bangor. 

Business banking remains a strong focus for The First, and mortgage banking has become a significant contributor to the bank’s business model ever since the 1940s when commercial banks were first allowed to make home loans. The industries of commercial fishing, hospitality, and tourism are also very critical to The First’s lines of business. Core banking products and services, such as personal loans, checking accounts, savings accounts, certificates of deposit and safe deposit boxes, remain the hallmarks of personal banking. 

Banking styles have certainly changed dramatically over the years. From the advent of drive-up banking and bank-by-mail, to credit cards, ATMs, debit cards, online banking, and now mobile banking, customers have always wanted the latest in banking conveniences. “Advances in technology aside, the one aspect of banking that remains constant is the customers’ desire to interact personally with their bankers. Therefore, local decision-making and personalized customer service are models that remain very important to The First as we move ahead,” Daigneault said.

The First, N.A., together with its trust and investment management division, First Advisors, currently employs 225 people in five Maine counties at 16 banking offices, four investment management offices and four operation facilities. The bank’s holding company, The First Bancorp, is listed on the NASDAQ stock exchange (symbol FNLC).

“The First has served customers through civil war and world war, the Great Depression and the Great Recession,” Daigneault said. “We’re proud of our legacy, and we’re focused on the future. We look forward to serving our Maine communities for at least another 150 years.”

For more information about The First, please call 1-800-564-3195, visit www.thefirst.com, or find us on Facebook.