Question 1

What is First Bank of Southern Pines?

Accepted Answer

First Bank of Southern Pines is a regional community bank headquartered in Southern Pines, North Carolina, operating under its parent company First Bancorp. With approximately $12.7 billion in total assets and 116 branches, First Bank is the sixth-largest bank in North Carolina by deposits. The bank specializes in relationship-based community banking, serving individuals, families, and businesses throughout North Carolina and South Carolina.

First Bank has built a reputation for combining personalized local service with modern banking technology. The institution focuses on financial independence for its customers while maintaining deep roots in the communities it serves.

Question 2

When was First Bank of Southern Pines founded?

Accepted Answer

The origins of First Bank date back to 1935 when it was established as Bank of Montgomery in Troy, North Carolina. The bank was founded during the Great Depression era to serve the financial needs of Montgomery County residents.

In February 1985, the institution changed its name from Bank of Montgomery to First Bank, marking a new era of expansion beyond its original community. Over the following decades, the bank pursued strategic growth through acquisitions and organic expansion.

In 2013, First Bancorp relocated its corporate headquarters from Troy to Southern Pines, North Carolina, reflecting the bank's expanded regional presence. The move symbolized the transformation from a small-town bank to a statewide financial institution while maintaining its community banking philosophy.

Question 3

Where is First Bank of Southern Pines headquartered?

Accepted Answer

First Bank of Southern Pines is headquartered in Southern Pines, Moore County, North Carolina. The bank moved its corporate headquarters to Southern Pines in 2013 from its original home in Troy, North Carolina.

Southern Pines is located in the Pinehurst-Southern Pines metropolitan area, a region known for its golf courses and resort communities in the Sandhills region of North Carolina.

Question 4

Where does First Bank of Southern Pines operate?

Accepted Answer

First Bank operates 116 domestic branches throughout North Carolina and South Carolina. The bank has a strong presence in major North Carolina markets including Asheville, Charlotte, Winston-Salem, Wilmington, Greensboro, and the Research Triangle area.

In South Carolina, First Bank serves communities in Greenville, Greer, Anderson, Columbia, Charleston, Florence, and Rock Hill, among others. The bank's footprint extends from the coastal regions to the western mountains of North Carolina.

First Bank has strategically expanded its geographic reach through numerous acquisitions over the past three decades, including the 2021 acquisition of Select Bancorp and the 2023 acquisition of GrandSouth Bancorp, which added Charleston and Columbia branches.

Question 5

What services does First Bank of Southern Pines offer?

Accepted Answer

First Bank provides a comprehensive range of personal and business banking services. For individual customers, the bank offers checking and savings accounts, mortgage loans, personal loans, home equity products, and digital banking solutions.

Business banking services include commercial lending, treasury management, small business banking, merchant services, and business checking accounts. The bank also provides specialized services through First Bank Insurance Services and wealth management capabilities.

Digital banking offerings include mobile apps, online banking platforms, mobile check deposit, bill pay, and person-to-person payment services. First Bank emphasizes the integration of advanced banking technology with personalized relationship banking.

The bank operates two subsidiary companies: Montgomery Data Services for data processing and First Bank Insurance Services for insurance products and services.

Question 6

What makes First Bank of Southern Pines unique?

Accepted Answer

First Bank distinguishes itself through its commitment to relationship-based community banking combined with sophisticated technology platforms. The bank maintains local decision-making authority, allowing branch teams to understand and respond to specific community needs.

The bank has demonstrated resilience during financial crises, participating in FDIC-assisted acquisitions of failed banks including Cooperative Bank of Wilmington in 2009 and The Bank of Asheville in 2011. These strategic acquisitions strengthened First Bank's market position while serving communities affected by bank failures.

First Bank has successfully maintained its community bank identity despite significant growth, with assets growing from approximately $200 million in 1988 to over $12 billion today. The bank's "Banking on Local" philosophy emphasizes local expertise, personalized service, and community investment.

Question 7

What type of financial institution is First Bank of Southern Pines?

Accepted Answer

First Bank of Southern Pines is a State Member Bank, meaning it is chartered under North Carolina state law and is a member of the Federal Reserve System. The bank changed its primary regulatory agency to the Federal Reserve Board in 2015, having previously been regulated by the FDIC.

As a community bank, First Bank focuses on serving the specific needs of local markets while offering the product breadth and technological capabilities of larger institutions. The bank operates as the primary subsidiary of First Bancorp, a publicly traded bank holding company listed on NASDAQ under the ticker symbol FBNC.

First Bank of Southern Pines

in the United States 🇺🇸

Crypto-Friendliness

All done!

About First Bank of Southern Pines in the United States