First Bancorp Announces New CEO and Stock Buyback

First Bancorp ( (FBNC) ) has provided an announcement.

On February 6, 2025, First Bancorp announced the promotion of G. Adam Currie to Chief Executive Officer of First Bank, succeeding Michael G. Mayer, who remains President of First Bancorp. This leadership transition is part of a long-term succession plan aimed at positioning the company for future growth. Additionally, First Bancorp’s board has approved a stock repurchase plan for up to $40 million, reflecting confidence in the company’s financial position and commitment to returning value to shareholders.

More about First Bancorp

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of approximately $12.2 billion. Its primary activity is the ownership and operation of First Bank, a state-chartered community bank with 113 branches in North Carolina and South Carolina, offering SBA loans nationwide through its network of lenders.

YTD Price Performance: 5.81%

Average Trading Volume: 188,515

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $1.88B

Learn more about FBNC stock on TipRanks’ Stock Analysis page.