Business Context and Reporting Period
Company: The First Bancorp, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 19, 2025
Reporting Period: The filing addresses a specific corporate governance event occurring on November 19, 2025, rather than a standard financial reporting period.
Key Financial Metrics
This filing does not contain financial performance data. The document focuses exclusively on a change in the registrant's certifying accountant. Consequently, no values are provided for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The primary material change reported is the replacement of the Company's independent registered public accounting firm:
- Dismissed Firm: Berry, Dunn, McNeil & Parker, LLC (effective November 19, 2025).
- Engaged Firm: BDMP Assurance, LLP (effective November 19, 2025 for the fiscal year ending December 31, 2025).
- Relationship: BDMP Assurance, LLP is owned by certain partners of the dismissed firm, Berry, Dunn, McNeil & Parker, LLC.
Management Commentary, Risks, and Contingencies
Audit History: The reports issued by the former accountant for fiscal years 2023 and 2024 were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
Disagreements and Reportable Events: Management confirmed there were no disagreements with the former accountant regarding accounting principles, practices, disclosures, or audit scope during the two most recent fiscal years and the subsequent interim period. Additionally, no "reportable events" occurred.
Consultation with New Accountant: The Company confirmed it did not consult with the new firm (BDMP Assurance, LLP) regarding accounting principles, proposed transactions, or potential audit opinions during the relevant periods prior to engagement.
Investor Verification Checklist
- Verify the content of the letter from Berry, Dunn, McNeil & Parker, LLC (Exhibit 16.1) to confirm they agree with the Company's statements regarding the lack of disagreements.
- Confirm the regulatory standing and PCAOB registration of the new firm, BDMP Assurance, LLP.
- Review the upcoming 10-K for the fiscal year ending December 31, 2025, to assess the new auditor's initial findings.
- Monitor for any future filings that might disclose the specific rationale for the change in auditors, as the 8-K does not explicitly state the business reason beyond the engagement approval.