First Bancorp
First Bancorp (NASDAQ: FBNC) is a Southern Pines, NC-based bank holding company operating First Bank, a community bank with $12.9B in assets and 113 branches across North Carolina and South Carolina, serving consumers, small businesses, and commercial clients with full-service retail, commercial, mortgage, and wealth management products.
- Company typePublic
- Founded1935
- HeadquartersSouthern Pines, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What First Bancorp does
First Bancorp (NASDAQ: FBNC) is a publicly traded bank holding company headquartered in Southern Pines, North Carolina, that operates primarily through its wholly owned subsidiary First Bank, a state-chartered community bank founded in 1935. As of Q1 2026, First Bancorp reported approximately $12.9 billion in total assets and $8.7 billion in total loans (Q4 2025), distributed across 113 branches serving North Carolina and South Carolina. The company offers a full-service retail, commercial, mortgage, and wealth management franchise with consumer and business checking, savings, CDs, credit cards, personal and commercial loans, SBA loans, treasury services (remote deposit capture, electronic payments, payroll, positive pay, lockbox), and FB Wealth Management products delivered through Osaic Institutions.
The technology stack centers on a digital banking platform providing mobile and online channels with mobile check deposit, Zelle payments, Apple/Google/Samsung Pay integration, MyMoney budgeting, digital card management, and corporate online banking for business customers. The bank operates a sales-led, relationship-based distribution model combining physical branches with dedicated business development officers, a mortgage lending division, wealth advisors, and digital self-service.
First Bancorp generates revenue predominantly through net interest income on its loan portfolio (commercial, residential, consumer) plus non-interest income from deposit service charges, debit/credit interchange, mortgage banking, wealth management fees, and treasury services. FY2025 net income reached $111.0 million (up 46% from $76.2M in 2024), with a 51 basis point net interest margin expansion, and the company has paid dividends for 39+ consecutive years. The franchise has been expanded through acquisitions of Select Bancorp (October 2021) and GrandSouth Bancorporation ($181.1M, January 2023), with leadership transitioned to Adam Currie as President and CEO of First Bank effective after Michael G. Mayer's February 28, 2026 retirement.
First Bancorp firmographics
Firmographics- Name
- First Bancorp
- Legal name
- First Bancorp
- Website
- https://localfirstbank.com
- Company type
- Public
- Founded year
- 1935
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- First Bancorp (NASDAQ: FBNC) is a Southern Pines, NC-based bank holding company operating First Bank, a community bank with $12.9B in assets and 113 branches across North Carolina and South Carolina, serving consumers, small businesses, and commercial clients with full-service retail, commercial, mortgage, and wealth management products.
- Ownership category
- akta.pro rank
First Bancorp industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Credit Cards & Revolving Credit (FSABAAAC), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Bank-Affiliated Retail Wealth Management (FSAAAAAB)
Keywords
Where First Bancorp is headquartered
LocationHeadquarters
- HQ city
- Southern Pines
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
First Bancorp business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Net Interest Income: Primary revenue source from interest earned on loans including commercial loans, residential mortgages, consumer loans, and other credit products. Interest spread generated between cost of deposits and yield on loan portfolio.
- Non-Interest Income: Fee-based revenue including service charges on deposit accounts, debit/credit card interchange fees, ATM fees, wealth management fees, and other banking service fees.
- Mortgage Banking Revenue: Revenue from origination and servicing of mortgage loans including conventional, FHA, VA, jumbo, and construction-to-permanent loans.
- Treasury Management Services: Fees from business banking services including remote deposit capture, electronic payments, payroll services, credit card processing, positive pay, lockbox, and corporate online banking.
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
First Bancorp product offering
Product offeringCore offering
First Bancorp is a bank holding company that operates First Bank, a state-chartered community bank offering personal banking (checking, savings, CDs, credit cards, personal/home equity/auto/boat loans, private banking), business banking (checking, business loans, SBA loans, treasury services including remote deposit capture, payroll, positive pay, lockbox, Mastercard business card), mortgage lending (conventional, FHA, VA, ITIN, jumbo, construction-to-permanent), and FB Wealth Management. The bank serves individuals, small-to-medium businesses, and commercial clients across North Carolina and South Carolina through 113 branches and a digital banking platform.
Product overview
First Bancorp operates First Bank, a state-chartered community bank headquartered in Southern Pines, North Carolina, with approximately $12.9 billion in assets and 113 branches across North Carolina and South Carolina. The company offers a comprehensive, unified banking platform centered on its Digital Banking platform which integrates Mobile App, Mobile Check Deposit, Mobile Wallet, Bill Pay, eStatements, External Transfers, and MyMoney budgeting tools. The product portfolio spans Personal Banking (Checking Accounts, Savings & CDs, Credit Cards, Personal Loans, Home Equity, Auto Loans, Boat Loans, and Private Banking), Business Banking (Checking, Loans, SBA Loans, Treasury Services including Remote Deposit Capture and Payroll Services, Mastercard Business Card, and First@Work employee banking program), Mortgage Products (Conventional, FHA, VA, ITIN, Jumbo, Construction-to-Permanent, Rural Housing loans), and Wealth Management. Treasury Services includes specialized tools like SpendTrack for expense management and Positive Pay for fraud protection.
Differentiator
Problem solved
Functional benefit
Products and services
- First Bank Digital Banking Comprehensive digital banking platform enabling customers to access accounts, transfer funds, pay bills, deposit checks, and manage finances via web and mobile app. Includes Mobile App, Mobile Check Deposit, Mobile Wallet, Bill Pay, eStatements, External Transfers, Alerts and Text Banking, and MyMoney budgeting tool. Available to personal and business banking customers across North Carolina and South Carolina.
- Personal Checking Accounts
- Personal Savings Accounts and CDs
- Platinum Credit Card with Rewards
- Personal Loans
- Home Equity Products
- Auto Loans
- Boat Loans
- Private Banking
- Business Checking Accounts
- Business Loans
- SBA Loans
- Treasury Services
- Mastercard Business Card with Rewards
- First@Work
- Mortgage Products
- FB Wealth Management
Quantifiable outcome
- $1.2 billion in community development loans invested to revitalize low- and moderate-income areas
- +3 more outcomes
Companies that use First Bancorp
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
First Bancorp technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature5 records
First Bancorp partnerships and signals
Strategic signalScale indicators11 records
Recent moves6 records
Expansion highlights5 records
First Bancorp competitors and assessment
Company assessmentDirect peers
- Southern Bank:
- TowneBank: Portsmouth, VA-based community bank operating across Virginia and North Carolina with comparable personal/business banking, mortgage, and wealth services targeted at similar relationship-driven SMB and consumer segments.
- First Citizens BancShares: North Carolina-headquartered bank holding company with similar community/regional banking focus, branch distribution, and personal/business banking products across the Carolinas and broader Southeast.
- HomeTrust Bancshares: Asheville, NC-based community bank holding company operating across the Carolinas and Southeast with similar branch-based retail and commercial banking model, comparable asset size band, and overlapping customer base.
- Atlantic Union Bankshares: Virginia-based regional bank with comparable branch distribution, commercial and consumer lending, and wealth management offerings serving similar Mid-Atlantic and Southeast SMB and retail customer profiles.
- United Community Banks: Georgia-headquartered community bank with significant branch presence in the Carolinas and Southeast, offering comparable personal, business, and mortgage banking products to similar SMB and consumer segments.
Broad incumbents
- Bank of America: Charlotte, NC-headquartered national bank with comparable consumer deposits, credit cards, mortgage, and wealth products, serving overlapping Carolinas retail and SMB customers at far larger scale.
- Truist Financial: Charlotte, NC-headquartered super-regional bank offering the full suite of consumer, commercial, mortgage, and wealth products that First Bancorp offers, but at vastly larger scale and with national branch presence.
- Pinnacle Financial Partners: Nashville-based regional bank holding company with comparable commercial banking focus, treasury management, and SMB lending across the Southeast; larger and broader footprint than First Bancorp.
- Cadence Bank: Multi-state regional bank with comparable commercial, consumer, treasury, and wealth offerings across the Southeast and Texas, serving overlapping SMB and middle-market segments.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
First Bancorp social profiles
Digital presenceFirst Bancorp compliance and trust
Trust signalCompliance4 records
First Bancorp financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Bancorp leadership team
Management profileNumber of profiles
Profiles3 records
First Bancorp subsidiaries and ownership
Company hierarchySubsidiaries2 records
First Bancorp funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Bancorp M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Bancorp
What does First Bancorp do?
First Bancorp is a bank holding company that operates First Bank, a state-chartered community bank offering personal banking (checking, savings, CDs, credit cards, personal/home equity/auto/boat loans, private banking), business banking (checking, business loans, SBA loans, treasury services including remote deposit capture, payroll, positive pay, lockbox, Mastercard business card), mortgage lending (conventional, FHA, VA, ITIN, jumbo, construction-to-permanent), and FB Wealth Management. The bank serves individuals, small-to-medium businesses, and commercial clients across North Carolina and South Carolina through 113 branches and a digital banking platform.
Is First Bancorp a public or private company?
First Bancorp is a public company. It is classified as public and is currently operating.
When was First Bancorp founded?
First Bancorp was founded in 1935. It employs 1,001 to 5,000 people.
Where is First Bancorp based?
First Bancorp is headquartered in Southern Pines, United States, in the North America region.
How does First Bancorp make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are non-Interest Income, mortgage Banking Revenue and treasury Management Services.
Who are First Bancorp's main competitors?
Direct peers on record are Southern Bank, TowneBank, First Citizens BancShares, HomeTrust Bancshares, Atlantic Union Bankshares and United Community Banks. Broad incumbents are Bank of America, Truist Financial, Pinnacle Financial Partners and Cadence Bank.
Does First Bancorp have an API?
No public API is recorded for First Bancorp.
What industry is First Bancorp in?
First Bancorp's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor). Its NAICS code is 52211 and its SIC code is 6022.