First Bancorp (North Carolina)
localfirstbank.comWhat Do They Do?
Provides commercial and consumer banking, including loans, deposit accounts and financial advice, to individuals and businesses.
10-K for FY2025, filed Feb 25, 2026The Company is the fourth largest commercial bank holding company headquartered in North Carolina. At December 31, 2025, the Company had…View ↗
We maintain a diversified loan portfolio by providing a broad range of commercial and retail lending services to business entities and…View ↗
We offer a full range of deposit accounts and services to both retail and commercial customers. These deposit accounts have a variety of…View ↗
We offer various ancillary services as part of our commitment to customer service. Through a contractual relationship, we offer the…View ↗
How Do They Make Money?
The Bank earns account-maintenance, transaction and card fees as services are provided; financial-product commissions arrive shortly after issuance, while asset-management fees are billed quarterly.
10-K for FY2025, filed Feb 25, 2026Service charges on deposit accounts: The Company earns fees from its deposit customers for transaction-based, account maintenance, and…View ↗
Other service charges and fees: The Company earns interchange income on its customers’ debit and credit card usage and earns fees from…View ↗
Commissions from the sale of financial products: The Company earns commissions from the sale of wealth management products. Wealth…View ↗
$67.6M
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10-K for FY2025, filed Feb 25, 2026
$67.6M ↗
Who Are Their Customers?
Serves individuals and small- to medium-sized businesses with loans and retail or commercial deposit accounts. Deposit customers can work directly with local First Bank teams, and the Bank also offers online and mobile banking.
10-K for FY2025, filed Feb 25, 2026We maintain a diversified loan portfolio by providing a broad range of commercial and retail lending services to business entities and…View ↗
Because the majority of our customers are individuals and small- to medium-sized businesses, we do not believe that the loss of a single…View ↗
We offer a full range of deposit accounts and services to both retail and commercial customers. These deposit accounts have a variety of…View ↗
We also offer credit cards, debit cards, letters of credit, safe deposit box rentals, and electronic funds transfer services, including…View ↗
Do Revenues Turn Into Profits?
Yes. Its net income in FY2025 was larger than its revenue and turned 294 cents into free cash flow.
How Are They Changing?
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Jul 14, 2026
First Bancorp agreed to acquire First Carolina Bancshares
The proposed merger remains subject to shareholder and regulatory approvals.
Sources
8-K, filed Jul 14, 2026
On July 14, 2026, First Bancorp, the holding company for First Bank, Southern Pines, North Carolina, entered into an Agreement and Plan of…View ↗
Growing. Revenue grew 2.7x in 4 years, from $25.3M in FY2021 to $67.6M in FY2025, about 28% a year.
SBA consulting
The older report described SBA Complete as a subsidiary providing financial institutions with consulting on SBA loan origination and servicing; the latest report says it was being dissolved.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 25, 2026As of December 31 2022, the Bank had three wholly-owned subsidiaries, SBA Complete, Magnolia Financial, and First Troy SPE, LLC. SBA…View ↗
As of December 31, 2025, the Bank had two wholly-owned subsidiaries, Magnolia Financial and First Troy SPE, LLC. Magnolia Financial is a…View ↗
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