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Since 1935.
Built for You.
At First Bank, we prioritize doing what’s right — whether it’s supporting local businesses, communities, or simply maintaining safe and sound practices. And we’ll keep doing that for the next 90 years — because it’s all for You.
1935
Bank of Montgomery launches in Troy, NC on February 8, 1935, as a state-chartered community bank with R.T. Poole as its first President.
Over the Next Decade, the Bank Continued to Grow
The Bank Takes Off
1960
Bank assets pass $2 million and celebrates its first 25 years. Air conditioning is also installed.
1967
A branch on North Main Street in Troy is opened, the first outside of the original office building.
1968
BankAmericard is authorized by the directors. This is the first credit card handled by any bank in Montgomery County.
1969
A branch in Robbins, NC opens. This location in Moore County makes it the first branch the bank establishes outside of Montgomery County.
1982
In Moore County, NC, the bank opens its second location in downtown Pinehurst, bringing the total number of branches to 10.
1983
Meeting the demands for growth, Montgomery Bancorp, the bank holding company, is formed.
1985
Given the rise of new locations outside of its original geography, Bank of Montgomery changes its name to First Bank. Shortly thereafter, Montgomery Bancorp changes its name to First Bancorp.
1987
In its biggest shift yet, First Bancorp (First Bank’s holding company) becomes a publicly traded company on the NASDAQ Market under the symbol FBNC on April 30.
1995
First Bank celebrates its 60th anniversary and opens two new branches in Pinehurst and Southern Pines, further expanding its Moore County footprint.
2001
Fueled by its new locations and expanding business lending and services, First Bank hits a new record in its total assets:
$1 billion+
Breaking Ground Across NC, VA, and SC
2002
First Bank opens its first branch in Wake County, NC, and its first branch in Virginia in the town of Wytheville.
2003
First Bank expands into South Carolina with the acquisition of Carolina Community Bank and three branches in Dillon County.
2008
First Bank acquires Sentry Bank & Trust, a three-branch community bank headquartered in Cheraw, South Carolina.
2008
First Bancorp was recognized by the investment banking firm Sandler O’Neill as one of the 33 best performing small‑cap banks in the nation.
2009
First Bank acquires Cooperative Bank in Wilmington, NC, with $959 million in assets and 24 branches along the North Carolina coast.
2011
First Bank acquires the Bank of Asheville in an FDIC-assisted transaction, with five branches throughout the city of Asheville.
Our Story Continues to Grow
What we started in Troy has branched out to more than 100 locations across the Carolinas, plus we’ve made significant acquisitions along the way — including Carolina Bank and Select Bank & Trust. This aggressive expansion has solidified our position as one of the nation’s top-performing small-cap banks.
New Leadership and Regional HQ Location
2012
Richard Moore named President and CEO of First Bancorp.
2013
First Bank moves headquarters from Troy to Southern Pines, NC.
2014
Mike Mayer named President and CEO of First Bank.
2014
First Bank rolls out a new website and URL and launches mobile check deposit.
2016
Working with another community bank, First Bank exchanges its Virginia branches for six branches in the Triad and Charlotte. This year also sees First Bank launch its own SBA loan origination division, which offers loans to small business owners across the U.S.
2017
In one year, two big moves: First Bank acquires both Carolina Bank and Asheville Savings Bank, adding 20 branches and two new regional headquarters — one in Greensboro and the other in Asheville.
First Bank is named the 2018 Community Bank of the Year at the North Carolina Rural Assembly, an award which recognizes a financial institution for providing loans and excellent customer service to small businesses in North Carolina.
First Bank launches First@Work, which provides local business owners with a suite of accounts and financial wellness tools that they can offer their employees to help them with their short- and long-term goals.
2018
First Bank also completes its “Dream It. Do It.” Contest, where over a one-year period, First Bank donates more than $100,000 to worthwhile individuals and nonprofits throughout the Carolinas to help people make their dreams come true.
2019
Recognition by Fortune as one of the Top 100 Fastest Growing Companies and by Forbes as a Best-In-State Bank in North Carolina makes it up on the NASDAQ display in Times Square in New York City.
2020
First Bank was one of the first banks to safely re‑open its lobbies after closures due to the COVID‑19 pandemic, which contributed to it securing another spot on Forbes Best‑In‑State Banks in North Carolina for a second year in a row.
2021
The Power of Good, First Bank’s corporate social responsibility program, launches with an employee donation match program and Good Deeds Week, which it used to perform good deeds for unsuspecting strangers. This, in combination with its commitment to Teach Children to Save and other charitable activities earns it Mastercard’s “Doing Well By Doing Good Award.”
This award recognizes the Bank’s unique and meaningful approach in leveraging its assets and strategies to positively serve and impact the community.
2021
First Bank opens its new regional headquarters in Raleigh. This new, state-of-the-art building is a reflection of the bank’s commitment to building the Triangle.
2022
In addition to the acquisition of Select Bank & Trust, where First Bank gained 11 branches across the Carolinas but especially in the Charlotte-metro area, First Bank was ranked in the top 20 of Top 50 Public Banks by S&P Global Market Intelligence.
2023
Expanding in every major metro of SC: First Bank acquires GrandSouth Bank and adds eight branches across South Carolina, including Greenville, Columbia, and Charleston.
2023$10 billion
in bank assets surpassed
First Bank named Best Employer of 2023 (#1 in the XL Employer Division) by Business NC Magazine and by the Triad Business Journal.
As its Power of Good program expands, the bank is recognized with the Civic 50 Award by Activate Good.
Adam Currie appointed as President of First Bank.
2024
First Bank is again recognized as Business NC Magazine’s Best Employer, is selected by Coalition Greenwich as the national winner of the U.S. Small Business Banking award, based on customer satisfaction, and is certified as a Family Forward Employer.
Why has First Bank lasted all these years when so many other banks haven’t?
We could say that it’s because of our commitment to safe and sound business practices, and that every dollar banked here stays in the Carolinas. We could highlight the many small businesses we’ve helped grow.
There are also the millions of dollars and thousands of volunteer hours we have donated each year to local causes, schools, and nonprofits.
But really, it all comes down to this: We do what’s right because it’s the right thing to do. And we’ll keep doing that for the next 90 years — because it’s all for You.