First Bancorp

First Bancorp (NASDAQ: FBNC) is a bank holding company and the parent of First Bank, a state-chartered community bank established in 1935 and operating 113 branches across North Carolina and South Carolina. With total assets of $13.2 billion, the company is the 4th largest bank headquartered in North Carolina and the largest community bank in the state. First Bank provides a full range of banking services including commercial and industrial lending, commercial real estate lending, residential mortgage lending, construction loans, home equity lines of credit, consumer loans, deposit products, wealth management, credit card services, treasury services, and mortgage banking. The bank also provides SBA loans through a nationwide network of lenders. First Bancorp is a member of the S&P SmallCap 600 Index and Russell 2000. The company has a pending acquisition of Carolina Bank & Trust Company valued at $166 million, expected to close in early 2027, which will increase its South Carolina deposit base by over 50%, double its branch footprint in the state, and grow FB Wealth Management assets under management by approximately 15%. The bank maintains a diversified and granular deposit base with noninterest-bearing deposits comprising 33% of total deposits, consumer deposits at 42%, and estimated insured deposits representing approximately 65% of total deposits. Updated Oct 21, 2026