First Bank Appoints New Chief Risk Officer: Bridget Welborn

Rhea-AI Summary

First Bank (NASDAQ:FBNC) announced that Bridget Welborn joined in October 2025 as Chief Risk Officer and Head of Legal.

Welborn brings 15+ years of legal, risk, privacy and regulatory compliance experience, most recently serving as Senior Counsel at Wyrick Robbins and previously as Chief Privacy & Risk Officer at State Employees' Credit Union. Peter Seitz will work with Welborn until his retirement at the end of January 2026. First Bank reported approximately $12.8 billion in total assets and operates 113 branches in North Carolina and South Carolina.

Positive

• New CRO hire with 15+ years of risk and compliance experience
• Planned overlap: outgoing EVP to remain until end of January 2026 for transition

Negative

• Executive transition: long-time EVP retirement scheduled end of January 2026

News Market Reaction

-0.43%

1 alert

-0.43% News Effect

On the day this news was published, FBNC declined 0.43%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

GREENSBORO, N.C., Nov. 20, 2025 /PRNewswire/ -- First Bank is pleased to announce Bridget Welborn joined the bank this October as its new Chief Risk Officer and Head of Legal. Welborn brings more than 15 years of experience in legal, risk, privacy, and regulatory compliance, with a proven track record advising boards, CEOs, and executive management on critical initiatives.

Welborn most recently served as Senior Counsel, Banking, Privacy & Data Security at Wyrick Robbins, advising financial institutions, fintechs, and insurers on privacy, data security, and regulatory matters.

"We are thrilled to welcome Bridget to our executive leadership team," said Adam Currie, CEO of First Bank. "Her strategic vision, deep expertise in risk management, and commitment to building strong legal and risk infrastructures will be invaluable as we continue to grow and innovate."

Prior to her role at Wyrick Robbins, Welborn served as Chief Privacy & Risk Officer at State Employees' Credit Union, the second-largest credit union in the United States with over $50 billion in assets. She also held senior leadership positions at First-Citizens Bank & Trust Company.

Welborn shared she was drawn to First Bank both because of its focus on community and its dedication to excellence as the enterprise continues to grow. "At First Bank, there's a culture and commitment to doing the right thing and to doing it with safety and soundness as its center," said Welborn. "I am excited to continue to build on that and to be working with this talented team."

Peter Seitz, First Bank's long-time Executive Vice President of Enterprise Risk, will work closely with Welborn until his retirement at the end of January 2026. "Bridget's experience and understanding of the risks inherent in a growing bank make her the ideal leader for this role," said Seitz. "I am confident she will guide the bank through the evolving risk and regulatory environment."

A native of North Carolina, Welborn earned her Juris Doctor from the University of Richmond and her Bachelor of Science in Public Health for Biostatistics from the University of North Carolina at Chapel Hill. She is licensed to practice law in North Carolina, Virginia, and New York, and holds a CIPP/US Certification from the International Association of Privacy Professionals.

First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $12.8 billion. As a state-chartered community-focused bank, First Bank operates 113 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions and helpful local expertise to help our customers achieve their dreams. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC." Visit our website at www.LocalFirstBank.com. Member FDIC, Equal Housing Lender.

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-bank-appoints-new-chief-risk-officer-bridget-welborn-302621992.html

SOURCE First Bank

FAQ

Who is First Bank's new Chief Risk Officer (FBNC) and when did she start?

Bridget Welborn joined First Bank in October 2025 as Chief Risk Officer and Head of Legal.

What experience does Bridget Welborn bring to First Bank (FBNC)?

Welborn has 15+ years in legal, risk, privacy and regulatory compliance, including roles at Wyrick Robbins and State Employees' Credit Union.

When will the outgoing Executive VP of Enterprise Risk leave First Bank (FBNC)?

Peter Seitz will work with Welborn until his retirement at the end of January 2026.

How large is First Bank (FBNC) in assets and branches?

First Bank has approximately $12.8 billion in total assets and operates 113 branches in North Carolina and South Carolina.

What credentials does Bridget Welborn hold relevant to her role at First Bank (FBNC)?

Welborn holds a Juris Doctor, a B.S. in Public Health for Biostatistics, is licensed in North Carolina, Virginia, and New York, and has a CIPP/US certification.