8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 8, 2021

First Bancorp

(Exact Name of Registrant as Specified in its Charter)

North Carolina	0-15572	56-1421916
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification Number)

300 SW Broad Street,
Southern Pines,	NC	28387
(Address of Principal Executive Offices)		(Zip Code)

(910) 246-2500

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered:
Common Stock, No Par Value	FBNC	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

1

First Bancorp

INDEX

 

	Page
Item 5.02 - Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers	3
Item 9.01 – Financial Statements and Exhibits	3
Signatures	4
Exhibit 99 (1) News Release dated October 8, 2021	5

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ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; APPOINTMENT OF PRINCIPAL OFFICERS.

On October 8, 2021, First Bancorp announced changes in the management team of First Bancorp and First Bank (the “Bank”).

On October 7, 2021, Adam Currie (age 44), Regional President since 2015, became Executive Vice President of First Bancorp and Chief Banking Officer of the Bank. Effective November 12, 2021, Elizabeth B. Bostian (age 42), Executive Vice President and General Counsel since 2016, will become Executive Vice President, General Counsel and Chief Financial Officer of First Bancorp and the Bank; Blaise Buczkowski (age 58), the Bank’s Chief Administrative Officer since 2017 and previously Chief Strategy Officer for TE21, Inc. between 2013 and 2017, will continue as the Bank’s Chief Administrative Officer and also become the Chief Accounting Officer of First Bancorp and the Bank; and Eric P. Credle, Executive Vice President and Chief Financial Officer of First Bancorp and First Bank, will retire.

A copy of First Bancorp’s Press Release making this announcement is attached as Exhibit 99.1 and is incorporated herein by reference.

ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS

Exhibit 99(1) – News Release dated October 8, 2021

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SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

		FIRST BANCORP
October 8, 2021	By:	/s/ Richard H. Moore
		Richard H. Moore
		Chief Executive Officer

4

EX-99.1

News Release

For Immediate Release:	For More Information,
October 8, 2021	Contact: Elaine Pozarycki
	919-834-3090

First Bancorp Announces Management Team Changes

Southern Pines, N.C. – First Bancorp (NASDAQ – FBNC), the parent company of First Bank, announced today changes in the management team of the Company and the Bank. Adam Currie will become Chief Banking Officer of First Bank; Elizabeth B. Bostian will become General Counsel and Chief Financial Officer of the Company; and Blaise Buczkowski, Chief Administrative Officer, will continue in that role and become the Company’s Chief Accounting Officer, reporting to Ms. Bostian. Mr. Currie and Ms. Bostian will report to Michael G. Mayer, Chief Executive Officer of First Bank and President of the Company, and continue to maintain their offices in Greensboro, N.C. Ms. Buczkowski will continue to maintain her office in the Company’s headquarters in Southern Pines, N.C.

In addition, the Bank will align its business into three organizational lines; Commercial Banking, being led by Brad Mickle, Commercial Banking Executive, maintaining his office in Wilmington, N.C.; Community Banking, being led by Rob Patterson, Community Banking Executive, maintaining his office in Sanford, N.C.; and Retail Banking, being led by Bill Bunn, Retail Banking Executive, maintaining his office in Raleigh, N.C., all reporting to Adam Currie, Chief Banking Officer.

Mr. Mayer commented: “We are excited that these important members of our leadership team will undertake expanded responsibilities as we move forward into the future. We believe that First Bank will have expanded opportunities to implement our strategy of thoughtful and disciplined growth. The experience and depth that will be provided by these colleagues in their expanded roles will be critical to achieving our goals of growth, community support and revenue generation. I would also like to thank Eric Credle for his 24 years of hard work and dedication as our Chief Financial Officer. He has been a critical part of the growth and success of our Bank.”

Mr. Credle, Executive Vice President and Chief Financial Officer, will retire effective November 12th. Following his retirement, he will serve as a consultant to First Bank through the transition.

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of approximately $8.2 billion. Its principal activity is the ownership and operation of First Bank, a state chartered institution that provides a wide array of banking products and services through 100 branches in North Carolina and South Carolina. First Bank also provides SBA loans to its customers through a nationwide network of lenders. For more information on First Bank’s SBA lending capabilities, please visit www.firstbanksba.com.

Please visit our website at www.LocalFirstBank.com.

XML

Cover Page	Oct. 08, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 08, 2021
Entity Registrant Name	First Bancorp
Entity Incorporation, State or Country Code	NC
Entity File Number	0-15572
Entity Tax Identification Number	56-1421916
Entity Address, Address Line One	300 SW Broad Street,
Entity Address, City or Town	Southern Pines,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28387
City Area Code	(910)
Local Phone Number	246-2500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	FBNC
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000811589