The First Bancorp announced a retirement date for F. Stephen Ward, Chief Financial Officer of the company and its wholly-owned banking subsidiary, First National Bank. Mr. Ward is expected to retire as Chief Financial Officer of the Company on March 30, 2018. Mr. Ward will be succeeded as Chief Financial Officer by Richard M. Elder, currently Executive Vice President and Treasurer of the Bank.

It is expected that Mr. Elder will assume the responsibilities of Chief Financial Officer of the Bank as of January 2, 2018, and as Chief Financial Officer of the Company as of March 30, 2018. Mr. Ward joined the Bank in 1990 as the Director of Marketing. He has served as the Bank's and the Company's Chief Financial Officer since 1993.

Mr. Elder joined the Bank in 1993. After a long career on the retail side of the Bank, he joined the finance division in early 2017. The Company also announced that Mr. Ward has been nominated to serve on the Board of Directors of both the Bank and the Company.

The Company's Nominating Committee announced the nomination on December 21, 2017. Pending a vote of the Company's shareholders, Mr. Ward will join the Boards of both entities as of the next annual meeting.