First Bancorp · Troy, NC United States ·(NASDAQ (GS): FBNC)
Company Description
Phone: 910-576-6171
Fax: 910-576-1070
Toll Free: 800-548-9377
View First Bancorp Locations On A US Map
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This link will open in a new window First Bancorp (not to be confused with First Bancorp in Virginia or First BanCorp in Puerto Rico) is the holding company for First Bank, which operates some 100 branches in east-central North Carolina, east South Carolina, and western Virginia. The bank offers checking, savings, money market, and NOW accounts; IRAs; investments; and discount brokerage services. It focuses lending on mortgage loans, which account for some three-quarters of its loan portfolio. The company also owns in-house and third-party data processor Montgomery Data Services, as well as a property/casualty insurance agency. To read the full description, subscribe now.
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Key First Bancorp Financials
| Company Type | Public - NASDAQ (GS): FBNC Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $169.0 |
| Employees | 687 |
First Bancorp Executives
43 executives listed for First Bancorp's Troy, NC location.
| Title | Name & Bio | Contact |
| Chairman | David Burns | Network |
| President, CEO, and Director | Jerry Ocheltree | Network |
| EVP, COO, and Secretary, First Bancorp and First Bank | Anna Hollers | Network |
Competition
Competitive Landscape for First Bancorp
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top First Bancorp Competitors
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