<SEC-DOCUMENT>0001174947-16-002816.txt : 20160621
<SEC-HEADER>0001174947-16-002816.hdr.sgml : 20160621
<ACCEPTANCE-DATETIME>20160621144754
ACCESSION NUMBER:		0001174947-16-002816
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160621
DATE AS OF CHANGE:		20160621

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST BANCORP /NC/
		CENTRAL INDEX KEY:			0000811589
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				561421916
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15572
		FILM NUMBER:		161724143

	BUSINESS ADDRESS:	
		STREET 1:		341 NORTH MAIN ST
		STREET 2:		PO BOX 508
		CITY:			TROY
		STATE:			NC
		ZIP:			27371-0508
		BUSINESS PHONE:		9105766171
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>c442238_11k.htm
<DESCRIPTION>FORM 11-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>FORM&nbsp;11-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">For the fiscal year ended December 31, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">OR</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">For the transition period from ______ to ______</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Commission File Number 333-197114</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">A.&nbsp;&nbsp;&nbsp;
Full title of the plan and address of the plan, if different from that of the issuer named below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>First Bancorp Employees&rsquo;
401(k) Savings Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">B.&nbsp;&nbsp;&nbsp;
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>First Bancorp</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>300 SW Broad Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Southern Pines, NC 28387</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B></B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>First Bancorp
Employees&rsquo; 401(k) Savings Plan</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>INDEX</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <TD STYLE="width: 90%; font-family: Courier; padding-bottom: 1pt">&nbsp;</td>
    <TD STYLE="width: 10%; font-family: Courier; text-align: center; border-bottom: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Page</b></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_002">Report of Independent Registered Public Accounting Firm</A></font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_006">Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014</A></font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_007">Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2015</A></font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_003">Notes to the Financial Statements</A></font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental Schedule:</font></td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_008">Schedule H, Line 4i &ndash; Schedule of Assets (Held at End of Year)</A></font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_004">Signature</A></font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_005">Exhibit Index</A></font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 23.1 - Consent of Independent Registered Public Accounting Firm</font></td>
    <TD STYLE="font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-family: Courier">&nbsp;</td>
    <TD STYLE="font-family: Courier; text-align: center">&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* All other schedules required by Section 2520.103-10 of the U.S.
Department of Labor&rsquo;s rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act
of 1974 have been omitted because they are not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Courier; margin: 0; text-align: left"><IMG SRC="tpg3.jpg" ALT=""></P>

<P STYLE="font: 10pt Courier; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_002"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To the Audit Committee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">First Bancorp Employees&rsquo; 401(k) Savings
Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Southern Pines, North Carolina</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have audited the accompanying statements
of net assets available for benefits of the First Bancorp Employees&rsquo; 401(k) Savings Plan (the &ldquo;Plan&rdquo;) as of December
31, 2015 and 2014, and the related statement of changes in net assets available for benefits for the year ended December 31, 2015.
These financial statements are the responsibility of the Plan&rsquo;s management. Our responsibility is to express an opinion on
these financial statements based on our audits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted our audits in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In our opinion, the financial statements referred
to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2015 and
2014, and the changes in net assets available for benefits for the year ended December 31, 2015, in conformity with U.S. generally
accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The supplemental information in the accompanying
schedule, Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2015, has been subjected to audit procedures
performed in conjunction with the audit of the Plan&rsquo;s financial statements. The supplemental information is presented for
the purpose of additional analysis and is not a required part of the financial statements but includes supplemental information
required by the Department of Labor&rsquo;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental information is the responsibility of the Plan's management. Our audit procedures included
determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other
records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental
information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental
information, including its form and content, is presented in conformity with the Department of Labor&rsquo;s Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information
is fairly stated in all material respects in relation to the financial statements as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in">/s/ Elliott Davis Decosimo, PLLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Charlotte, North Carolina</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 21, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 100%; line-height: 115%; font-size: 10pt"><FONT STYLE="font-size: 12pt"><B><A NAME="a_006"></A>First Bancorp Employees' 401(k) Savings Plan</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="line-height: 115%; font-size: 10pt"><B><I>Statements of Net Assets Available for Benefits</I></B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; line-height: 115%; font-size: 10pt"><B><I>As of December 31, 2015 and 2014</I></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9pt">Investments at fair value</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-size: 10pt; text-align: left; padding-left: 0.25in">Common collective trust fund</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">5,485,902</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">5,521,183</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in">Mutual funds</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">28,376,242</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">27,852,896</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">First Bancorp unitized stock fund</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">10,384,198</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,812,758</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">44,246,342</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">45,186,837</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 9pt">Receivables</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Notes receivable from participants</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,157,913</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">961,870</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 27pt">Total assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">45,404,255</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">46,148,707</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 2.5pt">Net assets available for benefits</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">45,404,255</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">46,148,707</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>See Notes to Financial Statements</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 100%; line-height: 115%; font-size: 10pt"><FONT STYLE="font-size: 12pt"><B><A NAME="a_007"></A>First Bancorp Employees' 401(k) Savings Plan</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="line-height: 115%; font-size: 10pt"><B><I>Statement of Changes in Net Assets Available for Benefits</I></B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; line-height: 115%; font-size: 10pt"><B><I>For the year ended December 31, 2015</I></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Additions:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9pt">Investment income</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; font-size: 10pt; text-align: left; padding-left: 0.25in">Net depreciation in fair value of mutual funds</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">(55,448</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in">Net appreciation in fair value of First Bancorp unitized stock fund</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">55,983</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in">Net appreciation in fair value of common collective trust fund</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">68,028</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.25in">Mutual fund dividends</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">454,919</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">First Bancorp common stock dividends</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">190,576</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">714,058</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 9pt">Interest income on notes receivable from participants</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">41,283</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 9pt">Contributions</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 0.25in">Participant</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,533,274</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0.25in">Employer</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,495,530</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 0.25in">Rollover</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">285,419</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,314,223</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 27pt">Total additions</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,069,564</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Deductions:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9pt">Benefits paid to participants</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,801,098</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 9pt">Administrative expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">15,737</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 9pt">Other, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,819</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 27pt">Total deductions</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,814,016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 27pt">Net decrease</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(744,452</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt">Net assets available for benefits, beginning of year</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">46,148,707</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 2.5pt">Net assets available for benefits, end of year</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">45,404,255</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><I>See Notes to Financial Statements</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-style: normal"><A NAME="a_003"></A>First
Bancorp Employees&rsquo; 401(k) Savings Plan</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notes to the Financial Statements</B></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-style: normal">Note 1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-style: normal">Description of the Plan</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following description of the First Bancorp
(the &ldquo;Company&rdquo; or &ldquo;Plan Sponsor&rdquo;) Employees&rsquo; 401(k) Savings Plan<I> </I>(the &quot;Plan&quot;) provides
only general information. Participants should refer to the plan agreement for a more complete description of the Plan&rsquo;s provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>General:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan is a defined contribution plan covering
all employees of the Company who are age 21 or older, beginning on the employment commencement date. First Bank, a wholly owned
subsidiary of the Company, serves as the plan administrator. The Plan is subject to provisions of the Employee Retirement Income
Security Act of 1974 (&ldquo;ERISA&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Contributions:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Employees electing participation in the Plan
may contribute up to the annual IRS deferral limit, pursuant to a salary reduction agreement. Participants who
have attained age 50 before the end of the Plan year are eligible to make catch-up contributions. Participants may also contribute
amounts representing distributions from other qualified defined benefit or contribution plans. The Plan includes an auto-enrollment
provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate
in the Plan. Automatically enrolled participants have their deferral rate set a 5% of eligible compensation and their contributions
invested in a designated balanced fund until changed by the participant. The Company contributes an amount equal to the sum of
1) 100% of the employee&rsquo;s pre-tax salary contributed up to 3% and 2) 50% of the employee&rsquo;s pre-tax salary contributed
between 3% and 5%. The Company may make additional discretionary contributions to the Plan to be allocated among participants completing
a minimum of 1,000 hours of service during the Plan year. Employer matching contributions are invested according to the same investment
elections each participant has established for their deferral contributions. Employer matching contributions totaled approximately
$1.5 million while the Company made no discretionary contributions for the 2015 Plan year. Contributions are subject to certain
Internal Revenue Service (&ldquo;IRS&rdquo;) limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan allows for Roth elective deferrals.
The Roth deferrals are included in an employee&rsquo;s ordinary taxable income and are maintained in a separate account from pre-tax
deferrals. Earnings on an employee&rsquo;s Roth account accumulate on a tax free basis. Plan participants may elect all pre-tax,
all Roth, or a combination of elective deferrals each pay period. In addition, the Plan accepts direct rollovers from other Roth
401(k) accounts. Upon hardship withdrawals, an employee&rsquo;s Roth account is distributed last.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Participant accounts:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each participant's account is credited with
the participant's contributions and Company matching contributions, as well as allocations of Company&rsquo;s discretionary contributions
and Plan earnings. Participant accounts are charged with an allocation of administrative expenses that are paid by the Plan. Allocations
are based on participant earnings, account balances, or specific participant transactions, as defined. The benefit to which a participant
is entitled is the benefit that can be provided from the participant's vested account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Vesting:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Participants are vested immediately in their
contributions plus actual earnings thereon. Vesting in the Company&rsquo;s matching contribution portion and discretionary contribution
portion of their accounts is also immediate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Notes receivable from participants:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Participants may borrow from their fund accounts
a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. Only one loan may be outstanding
at one time. The highest outstanding balance for prior loans plus any new loans may not exceed $50,000 in a 12-month period. The
loans are secured by the balance in the participant&rsquo;s account and bear interest at rates that are commensurate with the prime
rate plus 1.00%, as fixed at inception of the loan. All loans currently bear interest rates of 4.25% or 4.50%. Principal and interest
are paid ratably through bi-monthly payroll deductions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Payment of benefits:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On termination of service, a participant may
elect to receive an amount equal to the value of the participant&rsquo;s vested interest in his or her account in either a lump
sum, other installment options as provided by the Plan, or may be kept in the Plan. If a participant&rsquo;s vested account is
less than $5,000, the participant will receive a lump-sum distribution as soon as practical following termination. Hardship distributions
are permitted upon demonstration of financial hardship. All fully vested balances are available for distribution after the participant
reaches the age of 59 &frac12;. In the event of the death of a participant, the Company&rsquo;s contributions to the participant
are considered to be 100% vested, and the total account shall be paid to the participant&rsquo;s beneficiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Forfeited accounts:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2015 and 2014, forfeited nonvested
accounts totaled $4,802 and $8,126, respectively. Forfeited non-vested accounts are used to reduce future employer contributions.
During 2015, employer contributions were reduced by $8,173 from forfeited nonvested accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-style: normal">Note 2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-style: normal">Summary of Significant
Accounting Policies and Activities</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Basis of accounting:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements of the Plan have been
prepared on the accrual basis of accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Use of estimates:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in
conformity with accounting principles generally accepted in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets
and liabilities. Actual results could differ from these estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Investment valuation and income recognition:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan's investments are reported at fair
value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The Plan&rsquo;s management determines the Plan&rsquo;s valuation policies
utilizing information provided by the investment advisors. See Note 3 for discussion of fair value measurements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Purchases and sales of securities are recorded
on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation
includes the Plan&rsquo;s gains and losses on investments bought and sold as well as held during the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Notes receivable from participants:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Notes receivable from participants are measured
at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. Related
fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded
as of December 31, 2015 or 2014. If a participant ceases to make loan repayments and the plan administrator deems the participant
loan to be in default, the participant loan balance is reduced and a benefit payment is recorded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Excess contributions payable:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan had no excess contributions payable
for 2015 as the Plan satisfies the requirements for Safe Harbor 401(k) plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Payment of benefits:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Benefit payments are recorded when paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Expenses:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain expenses of maintaining the Plan are
paid directly by the Plan; however, such expenses may, at the discretion of the Board of Directors of the Company, be paid by the
Company. During 2015, substantially all such expenses were paid by the Company. Fees related to the administration of notes receivable
from participants are charged directly to the participant&rsquo;s account and are included in administrative expenses. During 2015,
$15,737 in distribution and withdrawal fees were paid from the respective participants&rsquo; accounts. Investment related expenses
are included in net appreciation (depreciation) in fair value of investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Subsequent events:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan has evaluated subsequent events through
the date the financial statements were issued, and did not identify any subsequent events since the date of the statement of net
assets available for benefits requiring adjustment to or disclosure in the financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Recently issued accounting pronouncements:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2015, the Financial Accounting
Standards Board (&ldquo;FASB&rsquo;) issued Accounting Standards Update (&ldquo;ASU&rdquo;) No. 2015-07, <I>Fair Value Measurement
(Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)</I>.
The amendments in this ASU remove the requirement to categorize within the fair value hierarchy all investments for which fair
value is measured using the net asset value (&ldquo;NAV&rdquo;) per share practical expedient. However, sufficient information
must be provided to permit reconciliation of the fair value of assets categorized within the fair value hierarchy to the amounts
presented in the statement of financial position. The amendments also remove the requirement to make certain disclosures for all
investments that are eligible to be measured at fair value using the NAV per share practical expedient. The amendments in this
ASU are effective for fiscal years beginning after December 15, 2015. Early adoption is permitted. Upon adoption, the amendments
shall be applied retrospectively to all periods presented. The Plan adopted this ASU for the 2015 plan year, and it was retrospectively
applied to the plan year ended December 31, 2014. Prior year disclosures have been revised to reflect the retrospective application
of this ASU. The impact of adopting this ASU is reflected in Note 3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In July 2015, the FASB issued ASU No. 2015-12,
<I>Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare
Benefit Plans (Topic 965) &ndash; (I) Fully Benefit-Responsive Investment Contracts, (II) Plan Investment Disclosures, and (III)
Measurement Date Practical Expedient (a consensus of the FASB Emerging Issues Task Force)</I>. The purpose of this ASU is to simplify
plan accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The amendments in Part I of this ASU designate
contract value as the only required measure for direct investments in fully benefit-responsive investment contracts. Fully benefit-responsive
investment contracts will be presented at contract value, accordingly there will no longer be an adjustment from fair value to
contract value on the face of the financial statements.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The amendments in Part II of this ASU
will eliminate the requirements for plans to disclose (1) individual investments that represent 5% or more of net assets available
for benefits and (2) the net appreciation or depreciation for investments by general type for both participant directed investments
and nonparticipant-directed investments. The net appreciation or depreciation in investments for the period will still be required
to be presented in the aggregate. In addition, if an investment is measured using the NAV per share (or its equivalent) practical
expedient in Topic 820 and that investment is in a fund that files a U.S. Department of Labor Form 5500, Annual Return/Report of
Employee Benefit Plan, as a direct filing entity, disclosure of that investment&rsquo;s strategy will no longer be required.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The amendments in Part III of this ASU
reduce complexity in employee benefit plan accounting by providing a practical expedient that permits plans to measure investments
and investment-related accounts as of a month-end date that is closest to the plan&rsquo;s fiscal year-end, when the fiscal period
does not coincide with month-end.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This ASU may be adopted in whole or by part
(I, II, and III), as applicable. The amendments in this ASU are effective for fiscal years beginning after December 15, 2015. Early
adoption is permitted. Upon adoption, the amendments in Parts I and II shall be applied retrospectively to all periods presented;
the amendments in Part III shall be applied prospectively. The Plan adopted this ASU for the 2015 plan year, and the amendments
in Part II were retrospectively applied to the plan year ended December 31, 2014<I>.</I>&nbsp;Prior year disclosures in Note 3
have been revised to reflect the retrospective application.&nbsp;The impact of adopting these amendments is reflected in the financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 26.15pt; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In January 2016, FASB issued ASU No.&nbsp;2016-01,
<I>Financial Instruments &ndash; Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities</I>,
which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments
in this ASU are effective for fiscal years beginning after December&nbsp;15, 2018, and interim periods within fiscal years beginning
after December&nbsp;15, 2019. With certain exceptions, early adoption is not permitted. Plan management is currently evaluating
the impact that ASU 2016-01 will have on its financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other accounting standards that have been issued
or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Plan&rsquo;s net assets
or changes in net assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 3.</B></TD><TD STYLE="text-align: justify"><B>Fair Value Measurements</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The framework for measuring fair value provides
a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the
highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority
to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.75in; text-align: left">Level 1:</TD><TD STYLE="text-align: justify">Inputs to the valuation methodology are unadjusted quoted
prices for identical assets or liabilities in active markets that the Plan has the ability to access.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.75in; text-align: left">Level 2:</TD><TD STYLE="text-align: justify">Inputs to the valuation methodology include:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; text-indent: -45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quoted prices for similar assets or liabilities
in active markets;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quoted
prices for identical or similar assets or liabilities in inactive markets;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inputs other than quoted prices that are
observable for the asset or liability;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inputs that are derived principally from
or corroborated by observable market data by correlation or other means.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify; text-indent: 0">If the asset or liability has a specified
(contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.75in; text-align: left">Level 3:</TD><TD STYLE="text-align: justify">Inputs to the valuation methodology are unobservable and
significant to the fair value measurement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The asset or liability&rsquo;s fair value measurement
level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
Valuation techniques used need to maximize the use of relevant observable inputs and minimize the use of unobservable inputs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Following is a description of the valuation
methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2015
and 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify; text-indent: -0.75in">Common collective
trust fund: Valued at NAV. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. The NAV
is based on the fair value of the underlying investments held by the fund less its liabilities. This practical expedient is not
used when it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV.
Participant transactions (purchases and sales) may occur daily. Were the Plan to initiate a full redemption of the collective trust,
the investment adviser reserves the right to temporarily delay withdrawal from the trust in order to ensure that securities liquidations
will be carried out in an orderly business manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify; text-indent: -0.75in">Mutual funds:
Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered
with the Securities and Exchange Commission. These funds are required to publish their daily NAV and to transact at that price.
The mutual funds held by the Plan are deemed to be actively traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-align: justify; text-indent: -0.75in">Unitized stock
fund: Valued at the unit price, which is based on the closing price of the underlying stock reported on the active market on which
the individual security is traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth by level, within
the fair value hierarchy, the Plan&rsquo;s fair value measurements as of December 31, 2015 and 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier; text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier; text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Mutual funds:</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: left; padding-left: 9pt">Corporate bonds</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,796,878</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,796,878</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Hybrid equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,349,431</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,349,431</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Target date funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,337,068</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,337,068</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Large cap equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,897,598</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,897,598</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Mid cap equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,368,401</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,368,401</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Small cap equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">609,123</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">609,123</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Foreign equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,017,743</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,017,743</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Unitized stock fund</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,384,198</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,384,198</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Total assets included in the fair value hierarchy</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28,376,242</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,384,198</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">38,760,440</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Investments measured at NAV (a)</TD><TD STYLE="font-family: Courier; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,485,902</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total investments at fair value</TD><TD STYLE="font-family: Courier; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">44,246,342</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier; text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier; text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Mutual funds:</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier">&nbsp;</TD>
    <TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: left; padding-left: 9pt">Corporate bonds</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,865,569</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,865,569</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Hybrid equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,985,789</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,985,789</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Target date funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,745,114</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,745,114</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Large cap equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,841,077</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,841,077</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Mid cap equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,150,147</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,150,147</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Small cap equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">417,484</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">417,484</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Foreign equities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,847,716</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,847,716</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Unitized stock fund</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,812,758</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,812,758</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Total assets included in the fair value hierarchy</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">27,852,896</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,812,758</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">39,665,654</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Investments measured at NAV (a)</TD><TD STYLE="font-family: Courier; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,521,183</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total investments at fair value</TD><TD STYLE="font-family: Courier; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Courier; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">45,186,837</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Investments reported at NAV as a practical expedient to
estimate fair value include a Common Collective Trust Fund. These investments have not been classified in the fair value hierarchy.
The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to investments
at fair value presented in the Statements of Net Assets Available for Benefits.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table for December 31, 2015 and
2014 sets forth a summary of the Plan's investments reported at NAV as a practical expedient to estimate fair value:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Investment</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unfunded<BR> commitment</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Redemption<BR> frequency</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Redemption<BR> notice period</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; text-align: left; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    collective trust fund</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,485,902</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: center; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: center"></TD><TD STYLE="width: 10%; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Investment</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unfunded<BR> commitment</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Redemption<BR> frequency</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Redemption<BR> notice period</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 50%; text-align: left; padding-bottom: 2.5pt">Common collective trust fund</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">5,521,183</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center; padding-bottom: 2.5pt">(a)</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; padding-bottom: 2.5pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The NAV of the common collective trust fund (the &ldquo;Fund&rdquo;) is determined each business
day (valuation date) by the fund trustee. Contributions to the Fund may be made daily at the current NAV and are considered as
made immediately after the daily valuation. Withdrawals from the Fund for benefit payments and participant transfers to noncompeting
options to be paid to plan participants shall be made within 30 days after written notification has been received and are considered
as made immediately after the next valuation date subsequent to the fund trustee's approval.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Withdrawals, other than for benefit
payments and participant transfers to noncompeting options, require a twelve month advance written notice. Included in this advance
written notice requirement are full or partial withdrawals of assets invested in the Fund resulting from plan sponsor directed
actions. Such plan sponsor directed actions include, but are not limited to: (i) trustee or plan sponsor-directed reallocation
of investments; (ii) company sponsored layoffs/termination of groups of employees; (iii) disposing of or selling a component of
the business which involves the transfer or termination of employees; (iv) terminating the Fund as an investment option of the
plan; and (v) terminating the plan. Plan sponsors are prohibited from intentionally and specifically advising participants, or
releasing participant communication, that is intended to encourage participants to not contribute to the Fund, or to withdraw part
or all of their contributions from the Fund.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">All
plan sponsor-directed requests for full or partial withdrawals must be submitted to the fund trustee in writing certifying the
reason for the withdrawal request. All such requests are subject to the twelve month advance written notice requirement. The fund
trustee may choose to disburse withdrawals in less than the required one year period if, in</FONT> <FONT STYLE="font-size: 10pt">the
fund trustee's discretion, it determines that such a disbursement is in the best interest of the Fund as a whole.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-style: normal">Note 4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-style: normal">Related Party and Party-In-Interest
Transactions</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The trustee of the Plan is Branch Banking &amp;
Trust Company (&ldquo;BB&amp;T&rdquo;), while Stanley, Hunt, Dupree &amp; Rhine, Inc. (&ldquo;SHDR&rdquo;) serves as the Plan&rsquo;s
recordkeeper. During 2015, substantially all administrative fees were paid by the Company on behalf of the Plan, and therefore,
these transactions qualify as party-in-interest transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fees incurred by the Plan for the investment
management services are included in net appreciation (depreciation) in fair value of investments, as they are paid through revenue
sharing, rather than a direct payment. Fees related to the administration of notes receivable from participants are charged directly
to the participant&rsquo;s account and are included in administrative expenses. During 2015, $15,737 in distribution and withdrawal
fees were paid from the respective participants&rsquo; accounts. The plan sponsor pays directly any other fees related to the Plan&rsquo;s
operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain administrative functions are performed
by officers or employees of the Company or its subsidiaries. No such officer or employee receives compensation from the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments in the First Bancorp Unitized Stock
Fund represent investments in shares of common stock of First Bancorp, the Plan Sponsor. The Plan received dividend income of $190,576
on the Company&rsquo;s common stock in 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 5.</B></TD><TD STYLE="text-align: justify"><B>Plan Termination</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although it has not expressed any intent to
do so, the Company has the right under the Plan to discontinue contributions at any time and to terminate the Plan subject to the
provisions of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 6.</B></TD><TD STYLE="text-align: justify"><B>Tax Status</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has adopted the Plan based on a
prototype plan document sponsored by BB&amp;T. BB&amp;T has received an opinion letter from the IRS dated March 31, 2014 that states
that the form of the prototype plan is acceptable under Section 401 of the Internal Revenue Code (&ldquo;IRC&rdquo;). The Plan
administrator has not requested a determination letter from the IRS on the Plan. The Plan has been amended since the date of the
IRS opinion letter on the prototype plan. While the Plan cannot rely on the IRS opinion letter, the Company and the Plan administrator
believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounting principles generally accepted in
the United States of America require plan management to evaluate tax positions taken by the plan and recognize a tax liability
(or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination
by the related taxing authorities. The plan is subject to routine audits by taxing jurisdictions; however, there are currently
no audits for any tax periods in progress.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 7.</B></TD><TD STYLE="text-align: justify"><B>Risks and Uncertainties</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Concentration of market risk:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan invests certain Plan assets in the
Company&rsquo;s common stock. These investments comprised approximately 22.9% and 25.6% of Plan net assets at December 31, 2015
and 2014, respectively. It is reasonably possible that a decline in the value of the Company&rsquo;s common stock could occur and
that such a change could severely impact participant account balances and the amounts reported on the Statements of Net Assets
Available for Benefits. At December 31, 2015 and 2014, the Plan held $10,384,198 and $11,812,758, respectively, in a First Bancorp
Unitized Stock Fund, which is comprised of the Company&rsquo;s common stock and a small amount of cash. For the year ended December
31, 2015, dividends paid on the investment in the Company&rsquo;s common stock was $190,576. Net appreciation in fair value of
the First Bancorp Unitized Stock Fund for the year ended December&nbsp;31, 2015 was $55,983.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s common stock price was
valued at $18.74 and $18.47 at December 31, 2015 and 2014, respectively. As of June 20, 2016, the date the financial statements
were available to be issued, the Company&rsquo;s common stock was valued at $18.99 per share based on the closing price as listed
on the NASDAQ.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><U>Other risks:</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan invests in various investment securities
which are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain
investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the
near term and that such changes could materially affect participants&rsquo; account balances and the amounts reported in the Statements
of Net Assets Available for Benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Note 8.</B></TD><TD STYLE="text-align: justify"><B>Plan Amendments</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The First Bancorp Employees&rsquo; 401(k) Savings
Plan currently has an automatic salary deferral rate of 5% for plan participants and includes an opt-out provision. However, prior
to 2015, the default rate was 2%, and a number of employees continue to contribute at this 2% rate. To encourage retirement savings
the Retirement Committee approved, at its August 25, 2015 meeting, a plan amendment that includes an automatic escalation feature
whereby participant salary deferral rates that are lower than 5% would increase 1% per year up to a 5%. Participants would continue
to have an opt-out feature. The Committee recommended the approval of the auto escalation feature effective January 1, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 100%; line-height: 115%; font-size: 10pt"><FONT STYLE="font-size: 12pt"><B><A NAME="a_008"></A>First Bancorp Employees' 401(k) Savings Plan EIN; 56-1421916, Plan No. 001</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="line-height: 115%; font-size: 10pt"><B><I>Schedule H, Line 4i - Schedule of Assets&nbsp;&nbsp;(Held at End of Year)</I></B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; line-height: 115%; font-size: 10pt"><B><I>As of December 31, 2015</I></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">(a)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">(b)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">(c)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Identity of issue,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Description of investment including</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><B>(e)</B></TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">borrower, lessor,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">maturity date, rate of interest</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><B>(d)</B></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Current</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">or similar party</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">collateral, par or maturity value</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Cost</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">value</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Common collective fund</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 8%; font-size: 10pt">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 21%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in">Union Bond &amp; Trust Company</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif; text-align: left">Morley Stable Value Fund</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">220,900.2236</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">5,485,902</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Mutual funds</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in">American Funds</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Europacific Growth R6 Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">39,530.0238</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,791,501</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Fidelity</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Contrafund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">64,857.4272</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6,417,642</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">MFS</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Value R4 Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">111,794.7457</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,665,750</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Oppenheimer</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Developing Markets Y Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7,543.9162</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">226,242</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">T. Rowe Price</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Mid-Cap Growth Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">40,222.6169</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,949,122</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">500 Index Admiral Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,319.8541</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">814,206</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Mid-Cap Index Admiral Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,761.3323</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">410,665</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Selected Value Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">77,702.6829</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,008,614</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Small Cap Index Admiral Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11,482.0634</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">609,123</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Total Bond Market Index Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">168,879.4951</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,796,878</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Wellington Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52,713.7354</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,349,431</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2015</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,544.3813</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">263,887</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2020</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,415.4226</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">337,079</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">54,458.5471</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">850,643</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2030</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22,856.0883</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">633,571</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2035</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">34,052.7866</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">573,449</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2040</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">35,620.0118</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,013,389</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2045</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,997.1914</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">337,770</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Vanguard</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Target Retirement Fund 2050</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11,487.5443</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">327,280</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Common stock</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top">*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in">First Bancorp</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Unitized Stock Fund</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,017,407.3182</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;**</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10,384,198</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: top">*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Notes receivable from partipants</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">All interest rates are currently at 4.25% or 4.50%</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt">&nbsp;N/A</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">1,157,913</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">45,404,255</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Denotes a party-in-interest to the Plan</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">**</TD><TD STYLE="text-align: justify">Cost information omitted due to participant-directed funds</TD>
</TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_004"></A>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>The Plan. </I>Pursuant to the requirements of the Securities
Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report
to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="font-family: Courier">&nbsp;</td>
    <td colspan="2" style="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">First Bancorp Employees&rsquo; 401(k) Savings Plan</font></td></tr>
<tr style="vertical-align: top">
    <td style="width: 50%; font-family: Courier">&nbsp;</td>
    <td style="width: 2%; font-family: Courier">&nbsp;</td>
    <td style="width: 48%; font-family: Courier">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</font></td>
    <td style="border-bottom: Black 1pt solid; padding-left: 0.25in; font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Timothy S. Maples</font></td></tr>
<tr style="vertical-align: top">
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier">&nbsp;</td>
    <td style="padding-left: 0.25in; font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Timothy S. Maples</font></td></tr>
<tr style="vertical-align: top">
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier">&nbsp;</td>
    <td style="padding-left: 0.25in; font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Vice President</font></td></tr>
<tr style="vertical-align: top">
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier">&nbsp;</td>
    <td style="padding-left: 0.25in; font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plan Administrator</font></td></tr>
<tr style="vertical-align: top">
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June
    21, 2016&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_005"></A>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 19%; border-bottom: Black 1pt solid; font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit Number</font></td>
    <td style="width: 3%; font-family: Courier">&nbsp;</td>
    <TD STYLE="width: 78%; border-bottom: Black 1pt solid; font-family: Courier; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Document</font></td></tr>
<tr style="vertical-align: top">
    <td style="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 23.1</font></td>
    <td style="font-family: Courier">&nbsp;</td>
    <td style="font-family: Courier"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CONSENT OF INDEPENDENT REGISTERED ACCOUNTING FIRM</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 17; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>c442238_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To the Audit Committee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">First Bancorp Employees&rsquo; 401(k) Savings
Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Southern Pines, North Carolina</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We consent to the incorporation by reference
in the Registration Statement of First Bancorp on Form S-8 related to the First Bancorp Employees&rsquo; 401(k) Savings Plan (File
333-197114) of our reports dated June 21, 2016, relating to our audits of the financial statements which appear in the December
31, 2015 Annual Report on Form 11-K of the First Bancorp Employees&rsquo; 401(k) Savings Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">/s/ Elliott Davis Decosimo, PLLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Charlotte, North Carolina</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>June 21, 2016</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>tpg3.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tpg3.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    9   _^X #D%D
M;V)E &3      ?_; (0  0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,# P,# P,# P$! 0$! 0$" 0$"
M @(! @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,#_\  $0@ ,P#, P$1  (1 0,1 ?_$ *T    & P$! 0
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M95SXI)2*<AF+2IDTJU OZYW*YFTT0:5-LD6#Q8J@>XX,[="L/\TY"',) N,
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M5-0Z82T>SB%4E$V:,RD00<-T#1H+D,9(RA$C& 9X$STUM3R9K6MY]))"5#2
M>_GPI[\;=Y37X[Q2ELYD6^5.'R'VL]U]:\$:H8V[5.XK;%+/6"#DF-GP_F2N
M,'>+]BK!87CZ3M%QO[^'AI"5/*3DA*N/_'KE7CVZ8I"W,@LD"AJ1W7;Y.X.R
MMR:Q=5=&E1&@"^ YG+'.K"]OF1H[;<!8&D'4" =1YF^5,8VI[9G>([DM.B<(
M[*XY[9&O%)-986:M69<3UB>L66G*42N911.NN#L%7K)-X!Q]UL#IJ1UX)JJ
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'HHH=%%?_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
