FIRST BANK NAMES NEW CHIEF CREDIT OFFICER

Rhea-AI Summary

First Bank (NASDAQ: FBNC) has appointed Larry Jackson as its new Chief Credit Officer, effective April 2025. Jackson, who brings over 21 years of financial services experience, joins from PNC where he served as Market Credit Executive. The appointment comes as current credit officer Mike Brower prepares for retirement later this fall. Jackson will be based in Greensboro, NC, and will relocate with his family from Michigan. First Bank, a state-chartered community bank with $12.1 billion in assets, operates 113 branches across North and South Carolina. The bank's CEO Adam Currie highlighted Jackson's expertise in credit risk management and leadership skills as key factors in the appointment.

Positive

• Appointment of experienced executive with 21 years in financial services and credit risk management
• Smooth leadership transition planned with current credit officer retiring in fall
• Bank demonstrates strong market presence with $12.1 billion in assets and 113 branches

Negative

• None.

News Market Reaction – FBNC

-0.63%

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-0.63% News Effect

On the day this news was published, FBNC declined 0.63%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

GREENSBORO, N.C., June 4, 2025 /PRNewswire/ -- First Bank is pleased to announce the appointment of Larry Jackson as its new Chief Credit Officer, effective April 2025. Jackson will be based at the bank's Greensboro office located at 101 N Spring Street.

Larry brings over 21 years of extensive experience in the financial services industry, with a distinguished career focused on credit risk management. He joins First Bank from PNC, where he most recently served as Market Credit Executive. 

"We are incredibly excited to welcome Larry Jackson to First Bank's leadership team," said Adam Currie, CEO of First Bank. "Larry's deep expertise in credit risk management, strong leadership skills, and high character will be instrumental as our bank continues to grow. We are excited about his homecoming to the Carolinas. I also want to thank Mike Brower for building an incredible credit culture at First Bank over the last decade and wish him the best in his well-deserved retirement later this fall."

Jackson expressed his enthusiasm for his new role, stating, "I am very excited about the opportunity to work alongside this leadership team in continuing to grow a phenomenal community/regional bank. It's truly rare to find a financial services firm that aligns so closely with my own personal values in how we approach the market and our customers. I look forward to contributing to First Bank's continued success."

A native of Reading, Michigan, Jackson earned his Bachelor's in Business Administration with a focus on Management from Spring Arbor University in 2004. He will be relocating to Greensboro this summer with his wife and four children. Beyond his professional achievements, Jackson is deeply committed to community involvement.

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. 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.

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SOURCE First Bank

FAQ

Who is the new Chief Credit Officer of First Bank (FBNC)?

Larry Jackson, former Market Credit Executive at PNC, has been appointed as First Bank's new Chief Credit Officer effective April 2025.

What is Larry Jackson's background before joining First Bank (FBNC)?

Larry Jackson has over 21 years of experience in financial services, most recently serving as Market Credit Executive at PNC. He holds a Bachelor's in Business Administration from Spring Arbor University.

How many branches does First Bank (FBNC) operate?

First Bank operates 113 bank branches across North Carolina and South Carolina, with total assets of approximately $12.1 billion.

Who is Larry Jackson replacing as Chief Credit Officer at First Bank (FBNC)?

Larry Jackson is replacing Mike Brower, who is retiring later in fall 2025 after building First Bank's credit culture over the last decade.

Where will Larry Jackson be based as First Bank's (FBNC) Chief Credit Officer?

Larry Jackson will be based at First Bank's Greensboro office located at 101 N Spring Street, North Carolina.