First Bancorp Board of Directors Elects New Chairmen

TROY, N.C., Feb. 6, 2013 /PRNewswire/ -- First Bancorp and its subsidiaries have elected three new chairmen to its board of directors. The new board chairmen are Mary Clara Capel, James C. Crawford III and Winston Dozier.

Chairmen for the board are elected annually and will serve a four year term.

"Our shareholders are fortunate to have these talented folks serving in these key roles," said First Bancorp President and CEO Richard Moore. "Their industry experience and dedication to the communities served by First Bank's branches will help us continue to improve and grow our institution."

First Bancorp's Board of Directors elected Mary Clara Capel to serve as the chairman of First Bancorp. In the last eight years, Capel has served as both chairman and director of First Bank. Capel is also the director of administration at Capel, Inc., a leading rug manufacturer, importer and exporter located in Troy, N.C. She has served as a director of First Bank since 2005.  In March 2012 she was appointed by Governor Beverly Perdue to serve as a member of the North Carolina State Banking Commission.

"Preserving First Bancorp's strong sense of community and 'customer first' philosophy are paramount to our future success," Capel said. "It is a privilege and honor to serve as Chair, and I look forward to contributing to the Company's mission of strengthening the many communities in which it does business."

James C. Crawford III was elected chairman of First Bank. He has been a director of First Bancorp and First Bank since 2008. Prior to that, Crawford served as chairman of Great Pee Dee Bancorp, a South Carolina bank holding company acquired by First Bancorp in 2008. He also is retired chairman and CEO of department store chain B.C. Moore and Sons, Inc.

"It's an honor to be part of the First Bank community and to serve with such a qualified group of directors," said Crawford. "We are enthusiastic about First Bank's ongoing commitment to community banking and are proud to support those efforts."

Winston Dozier, a director of First Bancorp and First Bank since 2010, and director of First Bank Insurance Services since 2010 was elected chairman of First Bank Insurance Services. Dozier is the former owner and operator of Quik Chek, a convenience store with 34 locations headquartered in Troy, N.C. Dozier owned and operated Quik Chek from 1980 until its sale in 2006.

"First Bank has been a leader in community banking for more than 75 years," said Dozier. "Because of its loyal customers and the dedication of the First Bank employee family, our bank is one of the most well-respected financial institutions in the state. It's a privilege to serve the board in this capacity."

First Bancorp is a bank holding company headquartered in Troy, North Carolina, with total assets of approximately $3.3 billion. Its principal activity is the ownership and operation of First Bank, a state- chartered community bank that operates a total of 97 branches, with 82 branches operating in North Carolina, nine branches in South Carolina, and six branches plus one loan production office in Virginia, where First Bank does business as First Bank of Virginia. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC."

SOURCE First Bancorp



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