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    Brian Klock

    Managing Director and Senior Equity Research Analyst at Keefe, Bruyette & Woods

    Brian Klock is a Managing Director and Senior Equity Research Analyst at Keefe, Bruyette & Woods, specializing in regional banks and financial institutions such as First Bancorp, M&T Bank, and CIBC. He has established an impressive professional track record with an 83.33% success rate and a 9.57% average return on investment recommendations, earning a top-three ranking for bank stock picking in the Thomson Reuters/StarMine Analyst Awards. Klock began his career in auditing at KPMG before joining M&T Bank as Vice President of Capital Management and Investor Relations, then moved to KBW in 2004 to lead large bank coverage. He holds a BBA in Accounting, a Master’s in Finance, is a Certified Public Accountant, and a Chartered Financial Analyst.

    Brian Klock's questions to First Bancorp, Inc /ME/ (FNLC) leadership

    Brian Klock's questions to First Bancorp, Inc /ME/ (FNLC) leadership • Q2 2016

    Question

    Brian Klock of Keefe, Bruyette & Woods asked if the company could sustain its growth in pre-tax, pre-provision earnings into the second half of the year and inquired about the carrying value of OREO properties, questioning if PROMESA might improve the prospects for selling them.

    Answer

    CEO Aurelio Aleman affirmed the company's goal is to maintain pre-tax, pre-provision earnings above the $50 million level. CFO Orlando Berges noted that commercial OREO is carried at approximately $0.40 on the dollar. Mr. Aleman agreed that post-PROMESA, they anticipate a better second half for OREO sales, driven by increased activity and interest in their commercial properties.

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