<SEC-DOCUMENT>0001174947-16-003032.txt : 20160809
<SEC-HEADER>0001174947-16-003032.hdr.sgml : 20160809
<ACCEPTANCE-DATETIME>20160809163241
ACCESSION NUMBER:		0001174947-16-003032
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160809
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160809
DATE AS OF CHANGE:		20160809

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15572
		FILM NUMBER:		161818422

	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>8-K
<SEQUENCE>1
<FILENAME>form8k-16399_fbnc.htm
<DESCRIPTION>8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center"><B>Form&nbsp;8-K</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d) OF<BR>
THE SECURITIES EXCHANGE ACT OF 1934</P>

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<tr style="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</td>
    <TD STYLE="width: 10%">&nbsp;</td>
    <TD STYLE="width: 45%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center"><font style="font-size: 10pt">Date of Report (Date of earliest event reported):</font></td>
    <TD>&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>August 9, 2016</b></font></td></tr>
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<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">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>First Bancorp</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact Name of Registrant as Specified in its
Charter)</P>

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<tr style="vertical-align: top">
    <TD STYLE="width: 30%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 30%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 30%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">North Carolina</font></td>
    <TD>&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">0-15572</font></td>
    <TD>&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt">56-1421916</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center"><font style="font-size: 10pt">(State or Other Jurisdiction</font></td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font-size: 10pt">(Commission </font></td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font-size: 10pt">(I.R.S. Employer</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center"><font style="font-size: 10pt">of Incorporation)</font></td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font-size: 10pt">File Number) </font></td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font-size: 10pt">Identification Number)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 10%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 40%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">300 SW Main Street,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">Southern Pines, North Carolina</P></td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">
        <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">28387</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center"><font style="font-size: 10pt">(Address of Principal Executive Offices)</font></td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD STYLE="text-align: center"><font style="font-size: 10pt">(Zip Code)</font></td></tr>
</table>
<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">(910) 246-2500</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</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">Not Applicable</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name or Former Address, if changed since
last report)</P>

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<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">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<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"></TD><TD STYLE="width: 22.3pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">First Bancorp<BR>
<B>INDEX</B></P>

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<tr style="vertical-align: top">
    <TD STYLE="width: 78%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 7%">&nbsp;</td>
    <TD STYLE="width: 7%">&nbsp;</td>
    <TD STYLE="width: 7%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>Page</b></font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="padding-left: 7.5pt; text-indent: -7.5pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">Item 8.01 &ndash; Other Events</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">3</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 7.5pt; text-indent: -7.5pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 7.5pt; text-indent: -7.5pt"><font style="font-size: 10pt">Item&nbsp;9.01 &ndash; Financial Statements and Exhibits</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">3</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="padding-left: 7.5pt; text-indent: -7.5pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 7.5pt; text-indent: -7.5pt"><font style="font-size: 10pt">Signatures</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font-size: 10pt">4</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="padding-left: 7.5pt; text-indent: -7.5pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="padding-left: 7.5pt; text-indent: -7.5pt"><font style="font-size: 10pt">Exhibit&nbsp;99.1&nbsp;Press Release dated August 9, 2016</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <TD STYLE="text-align: right; vertical-align: bottom"><font style="font-size: 10pt">Exhibit</font></td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">2</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0">Item 8.01 &ndash; Other Events</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.25in">On August 9, 2016, the Registrant issued
a press release to announce that First Bank, a wholly-owned subsidiary of the Registrant, has launched a national lending division
specializing in loans in the U.S. Government&rsquo;s Small Business Administration loan program. The press release is attached
hereto as Exhibit 99.1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0">Item&nbsp;9.01 &ndash; Financial Statements and Exhibits</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(d)</TD><TD>Exhibits</TD></TR></TABLE>

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<tr style="vertical-align: top">
    <TD STYLE="width: 0.25in; padding-top: 5pt; padding-bottom: 5pt">&nbsp;</td>
    <TD STYLE="width: 1in; padding-top: 5pt; padding-bottom: 5pt; text-decoration: underline"><font style="font-size: 10pt"><u>Exhibit No.</u></font></td>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt; text-decoration: underline"><font style="font-size: 10pt"><u>Description</u></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt">&nbsp;</td>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><font style="font-size: 10pt">99.1</font></td>
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><font style="font-size: 10pt">Press release issued on August 9, 2016</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0"><B>Disclosures About Forward Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">This report contains forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995,
which statements are inherently subject to risks and uncertainties. Forward-looking statements are statements that include projections,
predictions, expectations or beliefs about future events or results or otherwise are not statements of historical fact. Such statements
are often characterized by the use of qualifying words (and their derivatives) such as &ldquo;expect,&rdquo; &ldquo;believe,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;plan,&rdquo; &ldquo;project,&rdquo; &ldquo;anticipate,&rdquo; or other statements concerning opinions
or judgments of the Company and its management about future events. Factors that could influence the accuracy of such forward-looking
statements include, but are not limited to, the financial success or changing strategies of the Company&rsquo;s customers, the
Company&rsquo;s level of success in integrating acquisitions, actions of government regulators, the level of market interest rates,
and general economic conditions. For additional information about the factors that could affect the matters discussed in this paragraph,
see the &ldquo;Risk Factors&rdquo; section of the Company&rsquo;s most recent annual report on Form 10-K. Forward-looking statements
speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements.
The Company is also not responsible for changes made to the press release by wire services, internet services or other media.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">3</P>

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


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">Signatures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 34%">&nbsp;</td>
    <TD STYLE="width: 3%">&nbsp;</td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 46%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">First Bancorp</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">August 9, 2016</P></td>
    <TD>&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:</P></td>
    <TD>&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ Richard H. Moore</P></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Richard H. Moore</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Chief Executive Officer</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">4</P>



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

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;<IMG SRC="image_003.jpg" ALT="" STYLE="height: 47px; width: 114px"></P>

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        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><b>Media Contact:</b></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Hunter Young</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">(919) 210-4501</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">hyoung@firstbanksba.com</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></td></tr>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>First Bank Announces the Launch of a National
SBA Lending Division</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Southern Pines, NC </B>&ndash; First Bank, the wholly-owned bank
subsidiary of First Bancorp (NASDAQ &ndash; FBNC), announces that it has expanded its business banking solutions to offer SBA 7a,
USDA and 504 loans to small business owners throughout the United States. With a retail branch network in the Carolinas, First
Bank&rsquo;s entrance into SBA lending allows the company to better serve its existing communities as well as develop a national
footprint to offer loan products that help small business owners who may not qualify for conventional loans.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&ldquo;Founded in 1935, First Bank has already established a strong
reputation across the Carolinas, providing a wide array of personal and business banking services,&rdquo; stated Richard Moore,
Chief Executive Officer. &ldquo;We are excited about the addition of our SBA division and the complete lending services we can
offer business owners and entrepreneurs across First Bank communities and throughout the United States. We will continue to offer
the same level of superior customer service and quality to our new loan clients that our Carolina customer base has known for so
long.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&ldquo;The U.S. economy is driven by enormous corporations,&rdquo;
commented Stephanie Dunn, National Sales Manager with First Bank&rsquo;s SBA division, &ldquo;yet our country was founded by small
business owners with an entrepreneurial spirit. For 17 years, I have been passionate about lending to businesspeople looking for
the opportunity to provide goods and services to customers in their local communities. By lending entrepreneurs the money to build
their local businesses, I feel that I get to play a small part in helping them realize their dreams.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&ldquo;In an effort to deliver an expert and seamless customer experience,
First Bank has hired a number of seasoned SBA lenders nationally who share the same excitement about helping small business owners,&rdquo;
expressed Dunn. &ldquo;By connecting experienced lenders with entrepreneurially-minded small business owners, we create the perfect
partnership and allow our customers the financial means to meet their long-term business goals.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The First Bank SBA division serves all 50 U.S. states. Visit <U>www.firstbanksba.com
</U>to learn more.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>About First Bancorp</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 10pt">First Bancorp is a bank holding company
headquartered in Southern Pines, North Carolina, with total assets of approximately $3.5 billion. Its principal activity is the
ownership and operation of First Bank, a state-chartered community bank that operates 87 branches in North and South Carolina.
First Bank also has loan production offices in Charlotte, Greenville, and Raleigh North Carolina</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">.
</FONT><FONT STYLE="font-size: 10pt">First Bank&rsquo;s SBA division provides SBA loans to customers through its nationwide network
of lenders &ndash; for more information on First Bank&rsquo;s SBA lending capabilities, please visit <U>www.firstbanksba.com</U>.
First Bancorp&rsquo;s common stock is traded on the NASDAQ Global Select Market under the symbol &ldquo;FBNC.&rdquo; </FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which
statements are inherently subject to risks and uncertainties. Forward-looking statements are statements that include projections,
predictions, expectations or beliefs about future events or results or otherwise are not statements of historical fact. Such statements
are often characterized by the use of qualifying words (and their derivatives) such as &ldquo;expect,&rdquo; &ldquo;believe,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;plan,&rdquo; &ldquo;project,&rdquo; &ldquo;anticipate,&rdquo; or other statements concerning opinions
or judgments of the Company and its management about future events. Factors that could influence the accuracy of such forward-looking
statements include, but are not limited to, the financial success or changing strategies of the Company&rsquo;s customers, the
Company&rsquo;s level of success in integrating acquisitions, actions of government regulators, the level of market interest rates,
and general economic conditions. For additional information about the factors that could affect the matters discussed in this paragraph,
see the &ldquo;Risk Factors&rdquo; section of the Company&rsquo;s most recent annual report on Form 10-K available at www.sec.gov.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise
forward-looking statements. The Company is also not responsible for changes made to the press release by wire services, internet
services or other media. </I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">###</P>

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