Bank holding company providing banking and financial services through its subsidiary, First Bank.
First Bancorp serves as a pivotal bank holding company for First Bank, dedicated to providing a comprehensive array of banking products and services primarily to individuals and small to medium-sized businesses across North Carolina and northeastern South Carolina. The company's offerings encompass a wide range of deposit products, including checking, savings, money market accounts, as well as time deposits such as certificates of deposit and individual retirement accounts. First Bancorp distinguishes itself with a robust lending portfolio that supports consumer and commercial needs, featuring loans for business ventures, real estate acquisitions, personal finances, home improvements, automobiles, residential mortgages, and small business administration loans.
Complementing its banking services, First Bancorp extends a suite of financial solutions including accounts receivable financing, factoring, inventory financing, and purchase order financing services. The company also provides essential financial tools such as credit and debit cards, letter of credits, safe deposit box rentals, wire transfers, and electronic funds transfer services. Leveraging modern technology, First Bancorp offers internet and mobile banking platforms, cash management solutions, bank-by-phone services, and remote deposit capture services to enhance accessibility and convenience for its clientele.
Founded in 1934 and headquartered in Southern Pines, North Carolina, First Bancorp has continually evolved to meet the evolving needs of its customers. While rooted in traditional banking practices, the company has also begun exploring opportunities within the cryptocurrency realm. This strategic initiative underscores its proactive approach to embracing digital innovation in the financial sector, aligning with broader industry trends where institutions are increasingly exploring the integration of digital assets like cryptocurrencies. By considering the adoption of cryptocurrency services, First Bancorp aims to expand its service offerings, enhance operational efficiencies, and cater to the evolving preferences of its customer base in a rapidly evolving financial landscape.