FIRST BANK EXPANDS CHARLOTTE PRESENCE WITH NEW SOUTHPARK BRANCH AND OFFICE

(NASDAQ:FBNC) First Bank, a subsidiary of First Bancorp, announced the opening of its new SouthPark branch and office, representing a significant investment in its continued growth in the Charlotte market. Adam Currie, CEO of First Bank, stated that the investment in SouthPark reflects the bank's long-term commitment to Charlotte and highlighted the assembly of an exceptional team and strong client relationships. The new SouthPark location provides the team with greater resources to serve clients, pursue new opportunities, and strengthen the bank's market position. First Bank's momentum is supported by strong financial performance and national recognition. In 2026, First Bank was named to Forbes' inaugural list of the World's Top Performing Banks, which evaluates institutions on profitability, growth and earnings quality, capital and funding resilience, and asset quality and efficiency. Earlier in the year, First Bank was ranked No. 14 among U.S. public banks with more than $10 billion in assets by S&P Global Market Intelligence, based on 2025 financial performance across growth, profitability, safety, and soundness. Andrew Griffin, SVP, Regional Executive for Charlotte, emphasized the team's deep experience in the market and commitment to understanding client needs and delivering appropriate solutions. The SouthPark branch will offer a comprehensive range of financial services, including commercial and business banking, personal banking, lending, and wealth management solutions. The expanded office space will also support First Bank associates serving clients across the Charlotte market. First Bank is headquartered in Southern Pines, North Carolina, and has total assets of approximately $13.2 billion. The bank operates 113 branches in North Carolina and South Carolina. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC."

FIRST BANCORP ANNOUNCES ACQUISITION OF FIRST CAROLINA BANCSHARES CORPORATION TO EXPAND ITS SOUTH CAROLINA PRESENCE

(NASDAQ:FBNC) First Bancorp announced the signing of a definitive merger agreement to acquire First Carolina Bancshares Corporation in a stock and cash transaction with an aggregate value of $166 million, based on First Bancorp's stock price of $64.22 as of July 13, 2026. The consideration payable to First Carolina shareholders consists of 1,967,017 shares of First Bancorp common stock and $40 million in cash. The merger agreement was unanimously approved by the board of directors of each company and is expected to close in the fourth quarter of 2026 or early in the first quarter of 2027, subject to customary closing conditions, including First Carolina shareholder approval and regulatory approval. Carolina Bank is a privately held community bank with approximately $831 million in assets, operating 14 branches across six counties in South Carolina, and reported an LTM return on average assets of 1.60% for the twelve months ended March 31, 2026. On a pro forma basis, First Bank will rank in the top 10 for deposit market share in both North and South Carolina based on June 30, 2025 FDIC deposit data. First Bancorp plans to release quarterly earnings on July 22, 2026 which are expected to be in line with market expectations and past performance. Stephens Inc. served as financial advisor to First Bancorp, and Brooks, Pierce, McLendon, Humphrey & Leonard, LLP provided legal counsel, while Piper Sandler & Co. served as financial advisor to First Carolina, and Nelson Mullins Riley & Scarborough LLP served as legal counsel.

First Bancorp Announces Cash Dividend

(NASDAQ:FBNC) First Bancorp has declared a cash dividend on its common stock of $0.24 per share. The dividend is payable on July 24, 2026 to shareholders of record as of June 30, 2026. First Bancorp reported total assets of $12.9 billion. The company operates 113 branches in North Carolina and South Carolina. Richard Moore, Chief Executive Officer of First Bancorp, stated that the company delivered solid financial results for the first quarter of 2026, citing expanding net interest margin, stable credit quality, and continued expense controls. First Bank also provides SBA loans to customers through its nationwide network of lenders. First Bancorp's common stock is traded on The NASDAQ Global Select Market under the symbol "FBNC."

FIRST BANK APPOINTS ANDY SCOTT AS TRIANGLE REGIONAL EXECUTIVE

First Bank, a subsidiary of First Bancorp (NASDAQ: FBNC), has appointed Andy Scott as Triangle Regional Executive. Andy Scott brings more than 25 years of banking experience and will lead growth and client engagement efforts throughout the Triangle. First Bank operates 113 bank branches in North Carolina and South Carolina and has total assets of approximately $12.9 billion. The appointment is part of First Bank's ongoing investment in people and place to strengthen its service to the Triangle's business landscape. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol 'FBNC.'