First Bank Creates Loan, Waives Fees For Furloughed Workers

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Jan 24, 2019, 17:23 ET

SOUTHERN PINES, N.C., Jan. 24, 2019 /PRNewswire/ -- With nearly 8,000 residents across the state impacted by the ongoing, partial government shutdown, First Bank, North Carolina's largest community bank, is offering a number of options to help ease the financial burden during this time.

For any furloughed federal employees in need of a lump sum to carry them through this period, First Bank is offering a 90-day, no-interest loan up to $10,000. Furloughed First Bank clients who incur an overdraft or account service fee during this time (related to minimum or average collected balance) can request that it be refunded. Additionally, those with a First Bank credit card can also request a skip-a-payment option for the duration of the shutdown.

"We know it can be difficult to manage finances during the best of times," said First Bank President and CEO Michael Mayer. "But now, as we approach the end of a month where our clients and neighbors may be without a second paycheck, we want to help however we can."

To take advantage of any of these programs, individuals simply need to visit their local First Bank branch with their GSA Access/PIV card and furlough letter. Locations can be found at localfirstbank.com/locations. More information about the program is available at localfirstbank.com/furlough.

About First Bank
First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $5.9 billion. As a state-chartered community bank, First Bank operates 101 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, local expertise, and technology to manage a home or business. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC." Visit our website at www.localfirstbank.com. Member FDIC, Equal Housing Lender.

SOURCE First Bank