F. Stephen Ward is retiring as Damariscotta, Maine-based First Bancorp Inc.'s CFO on March 30, 2018.

Richard Elder is slated to succeed him. Elder, currently First National Bank executive vice president and treasurer, is expected to replace Ward as bank CFO on Jan. 2, 2018, and as company CFO on March 30, 2018.

Ward will join the boards of the company and the bank, pending shareholder approval.