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Chairman's retirement extended at Damariscotta, Maine-based First Bancorp

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Chairman's retirement extended at Damariscotta, Maine-based First Bancorp

The mandatory retirement date for Chairman David SouleJr. has been extended to Dec. 31, 2017, from Dec. 31, 2016.

With regard to Soule, the board voted on April 27 to temporarily waivea section of the company's bylaws which states that "no person shall beeligible to serve as a director beyond December 31 in the year that he/sheturns seventy (70) years of age," according to a Form 8-K filed April 29.

The Damariscotta, Maine-based company said that the one-yearwaiver was meant to provide additional time for recruitment of suitable newdirectors.