First BancorpFBNC
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First Bancorp is the acquirer in a $166M deal, expanding its market share and scale.
Impact on assets 3
Financials
First Bancorp to buy First Carolina Bancshares in $166m deal
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First Bancorp has agreed to acquire First Carolina Bancshares in a transaction valued at $166 million. The purchase price is based on First Bancorp's share price of $64.22 on 13 July 2026, with payment to First Carolina shareholders comprising around 1.96 million First Bancorp common shares and $40 million in cash. The boards of both companies approved the merger agreement unanimously, and the deal is slated to complete in the fourth quarter of 2026 or in the opening months of the first quarter of 2027, subject to standard closing requirements including approval from First Carolina shareholders and regulators. Carolina Bank, a privately owned community lender based in Florence, South Carolina, has about $831 million in assets and operates 14 branches across six counties in the state. On a pro forma basis, First Bank would be placed among the 10 largest institutions by deposit market share in both North Carolina and South Carolina, according to FDIC deposit figures dated 30 June 2025.
First BancorpFirst Bancorp is the acquirer in a $166M deal, expanding its market share and scale.
First BanCorp.
First Bancorp Inc