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5 Fresh Facts About First Bank NC: Executive Shifts, 2025 Financial Triumphs, And The Future Of Carolina Banking

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The landscape of regional banking in the Carolinas is constantly evolving, and First Bank NC, operating under its parent company First Bancorp (NASDAQ: FBNC), continues to be a central player. As of December 19, 2025, the institution has made significant headlines, driven by strong financial performance and key leadership changes that signal a clear strategic direction for the coming years. This article provides the most current and essential details on the bank’s operational status, executive team, and recent financial milestones, moving beyond general knowledge to focus on 2025’s freshest updates.

First Bank, a leading independent, full-service community bank, has solidified its presence across North and South Carolina, demonstrating resilience and targeted growth. The institution’s strategy focuses on delivering comprehensive personal and business banking solutions while maintaining a deep commitment to its local communities, a model that has proven successful in its recent quarterly reports.

First Bancorp (FBNC) Corporate Profile and Key Leadership Updates

First Bank is the primary banking subsidiary of First Bancorp, a financial holding company headquartered in Southern Pines, North Carolina. The company is publicly traded on the Nasdaq Capital Market under the ticker symbol FBNC. The bank's history is rooted in community service, growing from a local institution to a major regional force with over 100 branches across the Carolinas.

Corporate and Leadership Biography

  • Parent Company: First Bancorp (NASDAQ: FBNC)
  • Headquarters: Southern Pines, North Carolina
  • Primary Operating Area: North Carolina and South Carolina (The Carolinas)
  • Founding Figure: Norwood L. Thompson is noted as a key figure in the bank's early history, serving as an early president and board chairman.
  • Recent CEO Transition: G. Adam Currie was recently elevated to the Chief Executive Officer (CEO) position as part of a planned succession strategy, with Michael Mayer transitioning into the role of President.
  • Former CEO: Richard H. Moore previously served as President and Chief Executive Officer, a role he took on in June 2012.
  • New Chief Risk Officer: Bridget Welborn was appointed as the new Chief Risk Officer (CRO) of First Bank, a key executive move announced in November 2025.
  • New Chief Credit Officer: Larry Jackson was appointed as the new Chief Credit Officer (CCO), effective April 2025, and is based at the bank's Greensboro, NC office.

The 2025 Financial Triumphs: Strong Earnings and Dividends

The year 2025 has been marked by robust financial reporting for First Bancorp, providing current investors and potential customers with confidence in the bank's stability and growth trajectory. These recent figures highlight the effectiveness of its strategic regional focus and operational efficiency.

Key 2025 Financial Milestones

First Bancorp reported impressive financial results for the second quarter of 2025. The company's net income reached $38.6 million, a notable increase from the previous period.

This strong performance translated to a diluted earnings per share (EPS) of $0.93 for Q2 2025, reinforcing the institution's profitability.

The bank also released its third-quarter 2025 results, further demonstrating consistent financial health.

In a move that benefits shareholders, First Bancorp declared a quarterly cash dividend of $0.37 per share for the fourth quarter of 2025, which was announced on December 18, 2025.

The bank's loan portfolio mix as of September 30, 2025, showed no notable concentrations in geographies within North Carolina, indicating a well-diversified and managed risk profile.

First Bank NC’s Expansive Service Offerings and Regional Footprint

With a mission to serve both individual customers and the small to mid-sized business community, First Bank’s service portfolio is extensive, positioning it as a full-service financial partner. Its physical presence is substantial, boasting over 100 branch locations across North and South Carolina.

Comprehensive Banking and Financial Entities

First Bank's commitment to being a community bank does not limit its range of sophisticated financial products. The bank provides solutions that cater to various financial needs, from basic checking accounts to complex wealth strategies.

  • Personal Banking: Includes a variety of checking and savings accounts designed for everyday use and financial growth.
  • Business Banking: Offers specialized services for small businesses, including business checking accounts, business loans, and commercial lending options.
  • Mortgage Lending: Provides various mortgage products, often featuring competitive rates for North Carolina residents seeking home financing.
  • Wealth Management: Expert facilitation of financial planning, investment strategies, and lifestyle decisions for high-net-worth clients through its Private Banking services.
  • Treasury Management: Essential services for businesses to manage cash flow, including credit card processing and payroll solutions.
  • Specialty Lending: Tailored financing solutions beyond conventional loans.
  • Asset and Investment Management Services: Access to financial advisors and comprehensive investment strategies.
  • Digital Banking: Robust Online Banking and Mobile Banking apps, ensuring customers can manage their finances remotely across the Carolinas.

Strategic Growth and Acquisitions

First Bancorp has strategically expanded its market reach through key acquisitions. A notable recent example is the completion of the GrandSouth acquisition in January 2023.

This strategic move helped to further strengthen its position as a leading independent bank in the Southeastern United States, consolidating its footprint in key markets. The bank’s network now spans over 60 cities in North Carolina alone, from the mountains to the coast.

The Future Outlook for First Bank NC

The recent executive appointments of G. Adam Currie as CEO, Bridget Welborn as CRO, and Larry Jackson as CCO underscore a commitment to strong leadership, risk management, and credit quality. These moves are critical for steering the bank through the evolving regulatory and economic environment. The focus on seasoned professionals in these key roles suggests a proactive approach to maintaining stability while pursuing growth opportunities.

With its strong 2025 financial results and a broad, diversified service platform, First Bank (FBNC) is well-positioned to continue its role as a vital financial institution in the Carolinas. The emphasis remains on a community-centric model, ensuring that while the bank grows its balance sheet, it maintains its local presence and full-service commitment to the individuals and businesses that form the backbone of the North Carolina economy.

5 Fresh Facts About First Bank NC: Executive Shifts, 2025 Financial Triumphs, and The Future of Carolina Banking
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first bank nc

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