| Business Summary | | First
Bancorp
is
a
one-bank
holding
company.
The
principal
activity
of
the
Company
is
the
ownership
and
operation
of
First
Bank,
a
state-chartered
bank.
The
Company
also
owns
and
operates
two
non-bank
subsidiaries,
Montgomery
Data
Services,
Inc.,
a
data
processing
company,
and
First
Bancorp
Financial
Services,
Inc.,
which
owns
and
operates
various
real
estate.
The
Bank
has
two
wholly
owned
subsidiaries,
First
Bank
Insurance
Services,
Inc.
and
First
Troy
Realty
Corporation.
The
Bank
conducts
business
from
39
branches
located
within
an
80-mile
radius
of
Troy,
North
Carolina,
covering
a
geographical
area
from
Maxton
to
the
southeast,
to
High
Point
to
the
north,
Kannapolis
to
the
west
and
Lillington
to
the
east. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | First
Bancorp
is
the
bank
holding
company
for
First
Bank.
FBNC
also
owns
and
operates
a
data
processing
company
and
a
real
estate
investment
subsidiary.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
9%
to
$38.1
million.
Net
interest
income
after
LLP
rose
3%
to
$18.9
million.
Net
income
fell
1%
to
$6.5
million.
Net
interest
income
reflects
loan
growth,
partially
offset
by
higher
deposits.
Net
income
reflects
an
increase
in
personnel
expense. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Jack Briggs, 61 Chairman | -- | -- | James Garner, 71 Pres,
CEO, Director | $339K | $35K | Eric Credle, 32 CFO,
Sr. VP | 143K | -- | David Grigg, 50 Pres
of Montgomery Data Services, Inc. | 127K | -- | John Burns, 53 Exec.
VP, Director | -- | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|