First Bancorp (NASDAQ: FBNC) operates as the bank holding company for First Bank, a state-chartered community bank originally organized in 1934. The company offers a full suite of financial products and services tailored to individuals and commercial clients. Its core offerings include traditional deposit products, commercial and residential real estate loans, commercial business loans, consumer loans, and SBA lending. Additionally, First Bancorp provides specialized financing such as accounts receivable factoring and inventory financing, alongside digital banking, cash management, and wealth management services. Geographically, the bank maintains a strong regional footprint with over 110 branches concentrated in North Carolina and South Carolina. The company generates revenue primarily through net interest income from its loan and investment portfolios, supplemented by non-interest income from service charges, wealth management fees, and mortgage banking activities. First Bancorp's competitive position is anchored in its community-focused banking model, local expertise, and strategic acquisitions that continue to expand its presence in the Carolinas.
