First Bancorp N C 8-K Filings

First Bancorp agreed to acquire First Carolina Bancshares, parent of Carolina Bank & Trust, in a stock-and-cash merger valued at $166 million, or $64.22 per First Carolina share. First Carolina shareholders will receive 14.5340 First Bancorp shares plus $294.94 in cash for each share, totaling about 1,967,017 shares of First Bancorp stock and $40 million in cash.

Carolina Bank, a privately held community bank with about $831 million in assets, will merge into First Bank, expanding First Bancorp’s South Carolina footprint and giving it a top-10 deposit market share in both North and South Carolina. The transaction is expected to close in the fourth quarter of 2026 or early in the first quarter of 2027, subject to First Carolina shareholder approval, regulatory approvals and other customary conditions. Certain First Carolina insiders have signed support, claims-release and non-competition agreements.

First Bancorp projects low single-digit EPS accretion, about 1% tangible book value dilution with a 1.7-year earnback, and an internal rate of return above 20%, while maintaining strong pro forma capital ratios, including 10.1% tangible common equity to tangible assets and 16.7% total risk-based capital at closing.

First Bancorp announced that its board of directors has declared a cash dividend of $0.24 per share on its common stock. The dividend will be paid on July 24, 2026 to shareholders who are on record as of June 30, 2026.

CEO Richard Moore noted that First Bancorp delivered solid financial results for the first quarter of 2026, citing expanding net interest margin, stable credit quality and ongoing expense controls as support for continuing cash dividends and disciplined capital management.

The company is a bank holding company headquartered in Southern Pines, North Carolina, with $12.9 billion in total assets and 113 branches across North Carolina and South Carolina through its subsidiary First Bank.

First Bancorp reported the results of its annual shareholder meeting held on April 28, 2026. Shareholders elected 11 directors to serve until the 2027 annual meeting, with each nominee receiving over 27 million votes in favor.

Shareholders also ratified Crowe, LLP as independent auditors for 2026, with 36,633,992 votes for and minimal opposition. In addition, they approved, on a non-binding advisory basis, the company’s executive compensation (“Say-on-Pay”), with 30,515,764 votes for, 1,390,398 against, and 45,780 abstentions, alongside 4,747,248 broker non-votes.

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.

First Bancorp reported strong first quarter 2026 results, with net income of $46.659 million and diluted EPS of $1.13. Profit rose from $15.713 million in the prior quarter and $36.406 million a year earlier as net interest income increased to $107.116 million.

Net interest margin expanded to 3.67% from 3.58% in Q4 2025 and 3.25% in Q1 2025, helped by higher loan and securities yields and lower deposit costs. The efficiency ratio improved to 49.05%, reflecting tight expense control. Asset quality remained solid, with annualized net charge-offs of 0.06% and nonperforming assets at 0.32% of total assets.

Total loans reached $8.794 billion and deposits $11.012 billion at March 31, 2026, supporting total assets of $12.948 billion. Capital ratios stayed comfortably above regulatory minimums, including a common equity tier 1 capital ratio of 14.11% and a tangible common equity to tangible assets ratio of 9.63%.

First Bancorp announced that its board of directors has declared a cash dividend of $0.24 per share on its common stock, payable on April 27, 2026 to shareholders of record as of March 31, 2026. This delivers direct cash returns to current equity holders on that record date.

Chief Executive Officer Richard Moore said the decision reflects strong fourth-quarter financial performance, with solid capital and liquidity positions and stable credit quality, and highlighted meaningful growth in adjusted net income and adjusted EPS. First Bancorp, headquartered in Southern Pines, North Carolina, reports total assets of $12.7 billion and operates 113 First Bank branches across North and South Carolina, along with a nationwide SBA lending platform.

First Bancorp, parent of First Bank, reported a leadership change tied to its succession plan. Michael G. Mayer has retired from his roles at the Company and First Bank effective February 28, 2026. He previously served as President of First Bancorp and Chief Executive Officer of First Bank.

Although retiring from his management positions, Mr. Mayer will remain involved with the organization by continuing to serve on the Boards of Directors of both First Bancorp and First Bank, providing ongoing board-level experience and continuity.

First Bancorp announced several board and capital actions. Longtime director Mary Clara Capel retired from the boards of both First Bancorp and First Bank effective January 27, 2026, and the company stated her retirement was not due to any disagreement over operations, policies or practices.

The board authorized management to implement a stock repurchase plan for up to $40.0 million of outstanding common stock, valid through January 27, 2027 and subject to market conditions and Rule 10b-18 requirements. The board also approved a higher cash dividend of $0.24 per share, payable on April 24, 2026 to shareholders of record on March 31, 2026, up from the prior dividend of $0.23 per share.

First Bancorp filed a current report to let investors know it has released its financial results for the three-month period ended December 31, 2025. The company issued an earnings news release and an accompanying earnings presentation, which are included as Exhibits 99.1 and 99.2.

The company emphasizes that the earnings release is being furnished, not filed, which limits certain legal liabilities. It also highlights that the materials contain forward-looking statements and includes cautionary language about risks such as customer performance, acquisition integration, regulatory actions, interest rates, and general economic conditions.

First Bancorp announced that its board of directors has declared a cash dividend of $0.23 per share on its common stock. This means shareholders will receive twenty-three cents in cash for each share they own.

The dividend is scheduled to be paid on January 25, 2026 to shareholders of record as of December 31, 2025, so investors listed as owning the shares on that date will be eligible for the payment.

First Bancorp (FBNC) announced a governance update. On October 30, 2025, G. Adam Currie, Chief Executive Officer of subsidiary First Bank, was appointed to the Boards of Directors of both First Bank and First Bancorp, effective immediately.

This adds the operating bank’s CEO to the holding company’s board, aligning day-to-day leadership with board oversight across the organization. The company issued a press release with the announcement.

First Bancorp furnished a Form 8-K to announce its earnings release for the three-month period ended September 30, 2025. The Company provided a news release as Exhibit 99.1 and an earnings presentation as Exhibit 99.2.

The materials contain forward-looking statements with cautionary language. The earnings release is furnished, not deemed “filed” under Section 18 of the Exchange Act, and may be incorporated by reference only if a subsequent filing specifically references it.