Exhibit 21

First Bancorp and Subsidiaries

List of Subsidiaries of Registrant

Name of Subsidiary and Name under Which Subsidiary Transacts Business			State of Incorporation			Address of Subsidiary
First Bank (1)			North Carolina			300 SW Broad Street Southern Pines, North Carolina 28387
First Bancorp Capital Trust II			Delaware			300 SW Broad Street Southern Pines, North Carolina 28387
First Bancorp Capital Trust III			Delaware			300 SW Broad Street Southern Pines, North Carolina 28387
First Bancorp Capital Trust IV			Delaware			300 SW Broad Street Southern Pines, North Carolina 28387
Carolina Capital Trust			Delaware			300 SW Broad Street Southern Pines, North Carolina 28387
New Century Statutory Trust I			Delaware			300 SW Broad Street Southern Pines, North Carolina 28387
GrandSouth Capital Trust I			Delaware			300 SW Broad Street Southern Pines, North Carolina 28387

(1) First Bank has three wholly owned subsidiaries –

First Troy SPE, LLC, a North Carolina corporation located at 300 SW Broad Street, Southern Pines, North Carolina 28387 (I.R.S. Employer Identification Number 56-0132230).

SBA Complete, Inc., a California corporation located at 550 Continental Boulevard, Suite 120, El Segundo, California 90245 (I.R.S. Employer Identification Number 45-2516664).

Magnolia Financial, Inc., a South Carolina corporation located at 187 W. Broad Street, Spartanburg, South Carolina 29306 (I.R.S. Employer Identification Number 57-0661930).