First City of Charlotte Location to Open in SouthPark, Bringing The Greater Charlotte Market Branch Count to Six
First Bancorp (Nasdaq: FBNC), the parent company of First Bank, continues its expansion across the Carolinas, as it prepares to open a new south Charlotte branch in SouthPark, further positioning itself as the premiere community bank not only in this growing market, but throughout the Carolinas.
“SouthPark is an exciting opportunity for First Bank as we continue expanding into higher growth markets,” said Richard Moore, chief executive officer of First Bancorp. “The region as a whole is vibrant and flourishing. While we’ve had a strong presence in surrounding communities for some time, our customers will now have even greater access to our award-winning financial services. We’re committed to supporting our neighbors here every day, whether that is personal or retirement savings, business services or local wealth management and trust services. Wherever you are in life, we have the proven experience, personalized service and innovative tools to help you reach your goals.”
In total, First Bank will have six locations within the Charlotte region, including two recent branches acquired from First Community Bank in Huntersville and Mooresville. First Bank President Mike Mayer said “it is part of First Bank’s larger plan to expand in metropolitan markets throughout the Carolinas and strategically align its unique full-service model with growth in the Charlotte region, Triad and Triangle.” First Bank recently announced an agreement to acquire Carolina Bank Holdings, Inc. (Nasdaq: CLBH) the parent company of Carolina Bank, which operates eight branches and three mortgage loan offices in Greensboro and larger Triad. The acquisition is expected to close in late 2016 or early 2017, and is subject to customary conditions, including regulatory approval.
The new First Bank Mooresville and Huntersville branches are the result of an agreement to exchange seven former First Bank branches located in Virginia to First Community Bank in return for six of that bank’s branches located in North Carolina – the two in the Charlotte-metro and four in Winston-Salem. The branches completed their conversion Monday, July 18 and are now each officially operating as First Bank.
First Bank identified SouthPark as an area with a clear community banking need. The new location is in the Rotunda Building in the heart of SouthPark. Adam Currie, First Bank’s regional president of Charlotte commented: “We have made a commitment to the Charlotte market through strategic acquisitions and branch openings. All of us at First Bank are excited about our opportunity in Charlotte and look forward to serving the community.”
SouthPark will officially open its doors Aug. 17 at 4201 Congress Street. Learn more at www.LocalFirstBank.com.
About First Bancorp
First Bancorp is the holding company for First Bank and is headquartered in Southern Pines, North Carolina. The company currently operates 87 bank branches, with 81 branches operating in North Carolina and six branches in South Carolina (Cheraw, Dillon, Florence and Latta). A full-service community bank, First Bank provides best-in-class financial solutions, advice and technology to manage a home or business. Since 1935, First Bank has taken a tailored approach to banking, combining a range of cutting-edge digital tools with helpful local expertise. First Bancorp’s common stock is traded on the NASDAQ Global Select Market under the symbol FBNC. Visit our website atwww.LocalFirstBank.com.
