First Bancorp to buy First Carolina Bancshares for USD 166 million in stock and cash

First Bancorp

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First Bancorp agreed to buy First Carolina Bancshares for USD 166 million in stock and cash, based on a USD 64.22 share price.
Consideration includes 1,967,017 shares of First Bancorp common stock, plus USD 40 million in cash.
Closing targeted for Q4 2026 or early Q1 2027, pending First Carolina shareholder vote, plus regulatory sign-off.
Carolina Bank, headquartered in Florence, South Carolina, has about USD 831 million in assets, with 14 branches across six counties.
Deal aims to deepen First Bancorp’s South Carolina footprint; pro forma, First Bank would rank top 10 in deposit share in both Carolinas.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. First Bancorp published the original content used to generate this news brief via PR Newswire (Ref. ID: 202607140845PR_NEWS_USPR_____CL03208) on July 14, 2026, and is solely responsible for the information contained therein.

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