First Bancorp (Nasdaq: FBNC), the parent company of First Bank, continues its dedication to the Triangle and communities across the Carolinas with the opening of a new full-service loan office in Raleigh. The new office is located near Wade Avenue and the Beltline on Edwards Mill Road directly across from the Char Grill Restaurant. The move also expands the office’s footprint with a significantly larger space where it can further increase loan services as well as transition to a full-service branch by the second quarter of 2017.
“First Bank has always believed banking is better when it’s done with local people you know and trust to help you achieve your dreams,” said Richard Moore, chief executive officer of First Bancorp. “With the new loan office expanding its services and also converting to a full-service branch in a few months, the Raleigh community will have the opportunity to take advantage of award-winning financial solutions delivered with a hometown touch.”
The Raleigh loan team offers 75 years of lending experience in the Raleigh and Wake County markets, with a primary focus on commercial loan solutions. The team includes John Manning leading commercial loan solutions, Jim Derrickson leading construction and acquisition lending, and Brian Powell and Ashley Eubanks leading residential mortgage lending. By the second quarter of 2017, all of First Bank’s services will be offered from the location, including access to financial planning and asset management, credit and debit card products, insurance needs, making deposits and withdrawals, and more.
First Bank is committed to the Triangle and helping families, individuals and businesses reach financial independence. “The team in Raleigh is so embedded in the community, and with it being one of the fastest growing areas in the state, they are excited to offer First Bank’s community style of banking to their neighbors,” said Rob Patterson, regional president of First Bank.
In addition to the Raleigh loan office and expansion plans, First Bank has opened 10 new branches in North Carolina in the past four months, the most recent of which were in Greenville and Washington. In July, First Bank also 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 the larger Triad region. The acquisition is expected to close in late 2016 or early 2017 and is subject to customary conditions, including regulatory approval.
The new Raleigh loan office officially opened its doors Nov. 21 at 3110 Edwards Mill Rd., suite 150, which is across the street from the Olde Raleigh Village Shopping Center. 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 88 bank branches, with 82 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 at www.LocalFirstBank.com.
