New First Bancorp (NASDAQ: FBNC) directors bring finance and education expertise
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
First Bancorp, the parent of First Bank, appointed Kate Nevin and Peter Hans to the Boards of Directors of both First Bancorp and First Bank, effective April 28, 2026. Both will serve on key board committees, including compensation, nominating and governance, executive, and loan committees.
Nevin is President of TSWII Capital Advisors with more than 20 years of experience in alternative investment strategies and values‑aligned investing. Hans is President of the University of North Carolina System and has a long background in education and public policy. First Bancorp highlighted these appointments as aligned with its focus on thoughtful leadership and long‑term growth.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total assets: $12.9 billion
Branch count: 113 branches
Founding year: 1935
+1 more
4 metrics
Total assets
$12.9 billion
First Bancorp total assets at time of announcement
Branch count
113 branches
First Bank locations in North Carolina and South Carolina
Founding year
1935
First Bank history as a community bank
Announcement date
April 28, 2026
Effective date of director appointments and news release
Key Terms
values‑aligned investing, alternative investment strategies, bank holding company, compensation committee, +2 more
6 terms
values‑aligned investing financial
"She is a leading advocate for values‑aligned investing and expanding access to capital"
alternative investment strategies financial
"bringing more than 20 years of experience in alternative investment strategies"
bank holding company financial
"First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina"
A bank holding company is a parent corporation that owns one or more banks and other financial businesses, like a household that controls several shops under the same roof. Investors care because this structure determines how the business is regulated, how it raises capital, pays dividends, and absorbs losses; it can make a banking group safer or riskier and affects the value and liquidity of the company’s shares.
compensation committee financial
"appointed to First Bancorp’s compensation committee, and nominating and corporate governance committee"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
nominating and corporate governance committee financial
"First Bancorp’s compensation committee, and nominating and corporate governance committee"
A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.
executive and loan committee financial
"First Bank’s executive and loan committee"
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
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CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
| Date of Report (Date of earliest event reported): | ||||||||
(Exact Name of Registrant as Specified in its Charter)
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(Registrant’s telephone number, including area code)
Not Applicable
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(Former Name or Former Address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading symbol Name of each exchange on which registered:
1
First Bancorp
INDEX
| Page | |||||
| Item 5.02 – Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers | 3 | ||||
| Item 9.01 – Financial Statements and Exhibits | 3 | ||||
| Signatures | 4 | ||||
Exhibit 99.1 – News Release dated April 28, 2026 | 5 | ||||
2
ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
Effective April 28, 2026, the Boards of Directors of First Bancorp and First Bank appointed Kate Nevin and Peter Hans to the Boards of Directors of First Bancorp and First Bank.
“These appointments reflect our commitment to strong governance and to bringing diverse perspectives, deep expertise, and thoughtful leadership to the First Bancorp and First Bank boards,” said Richard Moore, Chief Executive Officer, First Bancorp. “Kate’s extensive investment management experience and values‑aligned approach to capital allocation, combined with Peter’s long‑standing leadership in education, public policy, and organizational innovation, will be tremendous assets as we continue to grow and serve our communities.”
Ms. Nevin and Mr. Hans have been appointed to First Bancorp’s compensation committee, and nominating and corporate governance committee, and First Bank’s executive and loan committee. Compensatory arrangements for Ms. Nevin and Mr. Hans will be consistent with the previously disclosed standard arrangements for non-employee directors of First Bancorp, as described on page 39 of the company’s proxy statement for its 2026 annual meeting of shareholders filed with the Securities and Exchange Commission on March 19, 2026.
ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99.1 – News Release dated April 28, 2026
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| First Bancorp | ||||||||||||||||||||
| April 28, 2026 | By: | /s/ Richard H. Moore | ||||||||||||||||||
| Richard H. Moore | ||||||||||||||||||||
| Chief Executive Officer | ||||||||||||||||||||
4
News Release
| For Immediate Release: | For More Information, | |||||||||||||
| April 28, 2026 | Contact: Katie Doyle | |||||||||||||
| 336-286-8741 | ||||||||||||||
FIRST BANCORP ANNOUNCES
APPOINTMENTS OF TWO NEW DIRECTORS
Southern Pines, NC — April 28, 2026 — First Bancorp (NASDAQ: FBNC), the parent company of First Bank (collectively, the “Company”), today announced the appointment of Kate Nevin and Peter Hans to its Board of Directors, effective immediately.
“These appointments reflect our commitment to strong governance and to bringing diverse perspectives, deep expertise, and thoughtful leadership to the First Bancorp and First Bank boards,” said Richard Moore, Chief Executive Officer, First Bancorp. “Kate’s extensive investment management experience and values‑aligned approach to capital allocation, combined with Peter’s long‑standing leadership in education, public policy, and organizational innovation, will be tremendous assets as we continue to grow and serve our communities.”
Kate Nevin, CAIA, is President of TSWII Capital Advisors and Portfolio Manager for TSWII LP and TSWS LP, bringing more than 20 years of experience in alternative investment strategies. She is a leading advocate for values‑aligned investing and expanding access to capital for women‑led and diverse firms, and she serves on numerous limited partner advisory committees and nonprofit boards. Ms. Nevin holds a Bachelor of Arts degree from the University of North Carolina at Chapel Hill; completed the Executive Program at the University of Virginia Darden School of Business; and selected as a Diversity Leadership Fellow at the Riley Institute at Furman University.
Peter Hans has served as President of the University of North Carolina System since 2020, leading a statewide public university system with a focus on low tuition, reduced student debt, and higher graduation rates. Previously having served as President of the North Carolina Community College System and as a senior policy advisor at both state and federal levels, President Hans earned degrees from University of North Carolina at Chapel Hill and a Master of Liberal Arts from Harvard University.
Together, these appointments reflect First Bancorp and First Bank’s focus on thoughtful leadership and long‑term growth, ensuring the Company remains well-positioned to serve its communities while advancing its strategic objectives.
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First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of $12.9 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 113 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 Bank also provides SBA loans to customers through its nationwide network of lenders.
Please visit our website at www.LocalFirstBank.com for more information.
First Bancorp's common stock is traded on The NASDAQ Global Select Market under the symbol "FBNC." Member FDIC, Equal Housing Lender.
FAQ
What board changes did First Bancorp (FBNC) announce in this 8-K?
First Bancorp added Kate Nevin and Peter Hans to the Boards of Directors of both First Bancorp and First Bank, effective April 28, 2026. They also joined key committees, including compensation, nominating and governance, executive, and loan committees.
Who is Kate Nevin, the new First Bancorp (FBNC) director?
Kate Nevin is President of TSWII Capital Advisors and Portfolio Manager for TSWII LP and TSWS LP, with over 20 years of alternative investment experience. She focuses on values‑aligned investing and expanding capital access for women‑led and diverse firms.
Who is Peter Hans, newly appointed to First Bancorp’s (FBNC) board?
Peter Hans serves as President of the University of North Carolina System, leading a statewide public university network. His background includes heading the North Carolina Community College System and policy advisory roles at state and federal levels.
Which board committees will the new First Bancorp (FBNC) directors serve on?
Kate Nevin and Peter Hans joined First Bancorp’s compensation and nominating and corporate governance committees. They also joined First Bank’s executive and loan committees, placing them in influential oversight roles across compensation, governance, and lending activities.
How large is First Bancorp (FBNC) and where does First Bank operate?
First Bancorp is a bank holding company with total assets of $12.9 billion. Its principal subsidiary, First Bank, operates 113 community bank branches across North Carolina and South Carolina, providing a range of retail, business, and SBA lending services.
How will the new directors be compensated at First Bancorp (FBNC)?
Compensation for Kate Nevin and Peter Hans will follow First Bancorp’s standard non‑employee director arrangements. These terms are described in the company’s proxy statement for its 2026 annual meeting of shareholders filed on March 19, 2026.