First Bancorp entered into a merger agreement with First Carolina Bancshares Corporation, a transaction with a total current value of approximately $166 million or $64.22 per share. Under the terms, First Carolina shareholders will receive 14.5340 shares of First Bancorp common stock and $294.94 in cash for each share held. The merger is expected to close in the fourth quarter of 2026 or early in the first quarter of 2027. First Bancorp is a financial services holding company providing banking services through its subsidiary, First Bank.
