Damariscotta-based The First Bancorp on Friday reported a net income boost of 15.6 percent for the second quarter compared with the second quarter of 2013.

The company’s net income was $3.7 million or 35 cents per share for the quarter, up $505,000 from the same period a year earlier, it said.

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First Bancorp’s assets topped $1.5 billion for the first time during the quarter, the result of increased consumer demand for loans. The total value of loans is up $15.5 million for the year compared with the first half of 2013, the company reported.

First Bancorp President and CEO Daniel R. Daigneault said it was the third-best quarter in the company’s history.