FIRST BANK BRINGS COMMUNITIES TOGETHER WITH 2ND ANNUAL FOOD DRIVE AND LOCAL GRANT SUPPORT

(Neutral)

(Very Positive)

Rhea-AI Summary

First Bank (NASDAQ: FBNC) has completed its 2nd annual companywide food drive, collecting 21,750 pounds of food distributed to over 90 organizations across the Carolinas through 110+ locations. The initiative, honoring late employee Sharon Shaw Adams, demonstrates the bank's community commitment.

The bank has awarded $319,229 in Power of Good Grants to local nonprofits and schools in 2024, with total philanthropic giving exceeding $640,000. In Q4 alone, 40 nonprofits received grants totaling $90,000. First Bank, with approximately $12.1 billion in total assets, operates 113 branches across North and South Carolina, including a nationwide SBA platform.

Positive

Strong community engagement evidenced by 21,750 pounds of food collected
Significant philanthropic activity with $640,000 in total giving for 2024
Substantial asset base of $12.1 billion
Extensive branch network with 113 locations across two states

Negative

None.

News Market Reaction – FBNC

-1.23%

-1.23% Session move

In the trading session that priced this news, FBNC declined 1.23%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

12/17/2024 - 02:00 PM

SOUTHERN PINES, N.C., Dec. 17, 2024 /PRNewswire/ -- First Bank proudly continues its commitment to community with the successful completion of its 2^nd annual companywide food drive. This year, employees, customers and friends from across the Carolinas and in over 110 First Bank locations joined forces to collect 21,750 pounds of food given to over 90 agencies and/or organizations for families in need throughout the community. In addition to addressing food insecurity, First Bank has awarded $319,229 in grants to local nonprofits and schools through the Power of Good Grants throughout 2024 with a total of over $640,000 in philanthropic giving, further solidifying its role as a vital partner in uplifting the communities it serves.

The Power of Good Food Drive was held from November 1 – November 30 in honor of Sharon Shaw Adams, a First Bank associate, who passed away in January 2023. Sharon was a Service Excellence champion, the highest level of distinction in First Bank culture, for being an example employee that goes above and beyond. Sharon was a dedicated collector of food items and a relentless warrior against food insecurity. Her passion and commitment to alleviating hunger inspired us all. By organizing this food drive we not only remember her legacy but also carry forward her selfless spirit to combat this pressing issue.

First Bank President, Adam Currie, said of the drive, "Sharon was a phenomenal associate and human. For our second year we are using this food drive to show our appreciation and admiration for her legacy, helping those in our communities. We are so proud to have increased our collections, year over year, and we hope this shows that First Bank is committed to caring for our communities in more ways than just providing banking."

In the 4^th Quarter, First Bank awarded its third set of grant funds in 2024 to 40 nonprofits or schools in order to help continue the excellent work they do, totaling $90,000. The recipients for this round include:

Central NC	Charlotte Area	Western NC
Elizabeth Cashwell Elementary School	Claire's Army Inc.	Asheville GreenWorks
Scotland Family Counseling Center	Community Care Clinic of Rowan County	Brush Creek Elementary School
TEAMWORKZ	Community Foundations CDC, Inc.	Harmony Methodist Church ESL Program
Uwharrie Charter Academy	Food for Days	No Wrong Door for Support and Recovery
	Rowan Helping Ministries	Saluda Pop-Up Pantry
	Thomasville Community Ministry Inc, dba Cooperative Community Ministry	The Council on Aging for Henderson County
		Western NC Community Health Services

Triangle Area	Triad Area	Florence, SC Area
Designed for Joy	Bold 2 B U Community	Created to Serve
Helping Education	Growing the Distance, Inc	Greater Florence Habitat for Humanity
Holly Springs Food Cupboard	Hopefulls, Inc	Lydia's Bowels of Mercy Home, Inc
Meals on Wheels Durham	Sister Circle International	The Farm at Florence
The Joel Fund

Upstate & Midlands SC	Wilmington Area	Eastern NC
Center for Developmental Services (CDS)	paws4people foundation	Beaufort County Community College Foundation
Coffee and Cupboard	St.Jude's MCC	Jacksonville Performing Arts Teen Outreach
HOPE Missions of the Upstate	The Carousel Center	The Partnership for Children of Wayne County
Upstate Warrior Solution

Learn more about the GOOD being done in the community by First Bank at www.LocalFirstBank.com/Power-of-Good.

About us:

First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $12.1 billion. As a state-chartered community bank, First Bank operates 113 bank branches in North Carolina and South Carolina and a nationwide SBA platform. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. 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.