SOUTHERN PINES, N.C.,
July 30,
2024 /PRNewswire/ -- The Board of Directors of
First Bancorp (NASDAQ: FBNC) (the "Company") announces the
retirement of Mason Y. Garrett from
the First Bancorp and First Bank Board of Directors (the "Board of
Directors") effective July 26,
2024.
Mr. Garrett was the Founder and Chairman of the Board of
Directors of GrandSouth Bank and CEO of GrandSouth
Bancorporation from 1998 until its merger with the Company in 2023,
at which time he joined the Company's Board of Directors. He was a
member of the Executive & Loan Committee of First Bank.
Mr. Garrett has over 50 years of banking experience, including
roles as President and Chief Executive Officer and Chairman of the
Board of several Upstate South Carolina banks. He co-founded First
United Bancorporation, an Anderson,
SC bank, in 1984 and served as its Chief Executive Officer
until its sale to Regions Financial Corporation in March 1998, prior to co-founding GrandSouth Bank
and GrandSouth Bancorporation.
Board of Directors Chairman and First Bancorp CEO,
Richard Moore, said of Mr. Garrett's
retirement, "On behalf of the Board of Directors, I want to thank
Mason for his years of dedicated service and commitment to the
banking industry in the Carolinas. He offered many valuable
contributions to the success of our organization and all of his
prior organizations, and we all wish him much joy in his
well-earned retirement."
About us:
First Bancorp is a bank holding company headquartered in
Southern Pines, North Carolina,
with total assets of $12.1 billion.
Its principal activity is the ownership and operation of First
Bank, a state-chartered community bank that operates 113 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 Bank also provides SBA loans to customers
through its nationwide network of lenders.
Please visit our website at www.LocalFirstBank.com for
more information.
First Bancorp's common stock is traded on The NASDAQ Global
Select Market under the symbol "FBNC." Member FDIC, Equal Housing
Lender.
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SOURCE First Bancorp
