First Bank Recognized By Fortune As One Of The Fastest-Growing Companies For 2019

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Sep 10, 2019, 16:17 ET

SOUTHERN PINES, N.C., Sept. 10, 2019 /PRNewswire/ -- First Bank is one of Fortune's Top 100 Fastest-Growing Companies for 2019.

Coming in at number 49 on the list and included among the top newcomers, First Bank was chosen based on its three-year growth rates in revenue, earnings per share, and total stock return.

"We are pleased to see First Bank recognized by Fortune as one of the world's fastest growing companies," said Michael Mayer, First Bank CEO and president. "First Bank has grown its overall asset size from $3.4 billion to $6.0 billion in the last three years and has become the fourth largest bank headquartered in North Carolina. We intend to foster more growth with continued investments in products and technology, while also further strengthening community partnerships across the Carolinas that encourage economic development and improve the lives of our customers—raising all boats with the tide. That's what it means to be a community bank."

This accolade for First Bank comes just after it was recognized by Forbes as one of the Best In-State Banks for 2019. First Bank was also selected by WalletHub as 2019 Best Bank Accounts for Small Businesses – Rewards, as well as the 2018 Community Bank of the Year by the North Carolina Rural Center. Additionally, S&P Global recognized First Bank as one of the top 20 community banks of 2018 with total assets between $3 billion and $10 billion.

For the full list from Fortune, see www.fortune.com/100-fastest-growing-companies/2019/.

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 $6.0 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, helpful 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