2024 Awards and Accolades

Across The Carolinas 2 min read

We are so grateful for all of our associates, customers, and community partners who inspire us to be the best. So far in 2024 we have won several prestigious awards that highlight our organization’s commitment to excellence and dedication to exceptional service.

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2024 Awards & Recognition – First Bank

2024 Awards & Recognition – First Bank Associates

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Where Your Locally Spent Dollar Goes [Infographic] An illustrated look at what happens when you spend a dollar or two in your hometown. 1 min read

Banks in North Carolina Did you know there are more than 100 First Bank locations in North Carolina? It’s true. You can find us in over 60 cities, mountains to coast. Did you know we’re one of the oldest banks in North Carolina? Yup, our roots date back to 1935 in the town of Troy, North Carolina. Did you know we’re a full-service bank? We sure are. We have checking and savings accounts for personal and business use, credit cards, loans of all types, business merchant services, insurance, mortgages, wealth management, and more. Of all the banks in North Carolina, we are confident you won’t find the personal level of customer service, complete selection of services, and convenient array of locations that you’ll find with First Bank. We take advantage of technology to bring our customers the added convenience of online, mobile, and digital banking services to enhance the First Bank experience.* We even connect with our customers through our Facebook, Twitter, Instagram and YouTube channels! Not Like the Other Banks in North Carolina You’re likely to find three types of banks in North Carolina. First, you’ll find the large national banks. They don’t have the capacity to get to personally know their customers and specifically cater services to those needs. The second are smaller local banks that aren’t equipped with the selection of services that bigger banks can offer. The third type of bank in North Carolina is First Bank, which offers the best of both worlds. We are small enough to provide the friendly customer service and personal care of a local bank and big enough to provide all the services and products of the bigger banks. So get to know First Bank, and we’ll be pleased to get to know you right back. 2 min read

Our Extraordinary Hometowns: Tabor City, North Carolina One of our honorable mention nominees in our “What’s Extraordinary in Your Hometown?” Essay Contest is Jessica Harper Davis of Tabor City. We loved that you can feel her personal connection to the town in every word. 3 min read

First Bank partners with Habitat for Humanity to promote housing affordability There’s no place like home for the holidays. The benefits of homeownership reach far beyond the financial investment and earned equity. Owning a home means long-term security and stability for individuals, families, and economies to thrive. This holiday season, we’re reflecting on our Power of Good commitment to Housing Affordability and our partnership with Habitat for Humanity. “Greater tax generation, creation of jobs, opportunities for economic development, increased job retention and productivity, and the ability to address inequality — all are among the economic benefits of increased access to quality, affordable housing.” – Habitat for Humanity What does housing-affordability mean? While many factors impact what affordable means to each buyer, housing policymakers generally use the 30% rule that states no more than 30% of your income should be spent on housing. In areas where the average home prices and rental rates exceed the 30% rule for the average citizen’s income, housing is deemed unaffordable and residents are considered to be housing cost-burdened. Nationwide, U.S. Census Bureau data shows that 40% of renters meet the definition of cost-burdened. Additionally, an October 2023 report from Redfin suggests that homebuyers must now earn a $115,000 annual salary to afford the median-priced U.S. home – that’s up more than 50% since the start of the COVID-19 pandemic. Housing affordability snapshot on the Carolinas As population growth continues to rise across North and South Carolina, it’s proving difficult to keep up with the increase in demand for housing. Many experts point to the combination of limited supply and growing demand for the sharp rise in housing costs. Cost-burdened households in North Carolina represent 45% of renters and 19% of homeowners while in South Carolina those numbers are 50% and 25% respectively. What are the impacts of cost-burdened households? Households that spend more than 30% of their budget on housing oftentimes experience a snowball effect on other areas of their budget. Many housing cost-burdened households experience food insecurity and are forced to make difficult decisions like choosing between paying a bill or seeking medical care. This also makes it difficult to save for emergencies in the future, and places more reliance on credit card spending. When these difficult circumstances at an individual level become compounded, the entire community’s wellbeing becomes marginalized. First Bank’s commitment to affordable housing As a First Bank client, you’ve made the decision to invest in your community. Our designation as a community bank means that we will always prioritize investing in the communities where we do business. Unlike banks who operate nationally or globally, First Bank is committed to the Carolinas. Banking with First Bank allows you to keep your hard-earned money within your community – where it can do the most good for your neighbors. Our First Bank Power of Good corporate citizenship program has made the following investments in affordable housing: 6 min read