First Bank in Troy, North Carolina (NC), SC, VA



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First Bank
GeneralFDIC Certificate #: 15019
Status: Active
Federal Reserve ID: 216922
Bank Holding Company (Regulatory Top Holder): First Bancorp (RSSDID: 1076431, Location: Troy, NC)
Date Established: January 01, 1934
WWW: http://www.firstbancorp.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 98 (Domestic: 98, Interstate: Yes)
OTS Docket #: 14337
FDIC's unique #: 9417
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: Febuary 08, 1935
Last Structure Change Effective Date: January 21, 2011
Last Structure Change Process Date: January 25, 2011
Last Data Update: January 25, 2011
Data Source Date: April 05, 2012
LocationAddress: 341 North Main Street, Troy, NC 27371
County: Montgomery
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Charlotte
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
History of ChangesParticipated in FDIC Assisted Absorption/Consolidation/Merger
Financial SummaryTotal assets: $3,289.4 mil
Equity capital: $388.5 mil
Deposits held in domestic offices: $2,759.1 mil
Return on assets (ROA): 0.46% ($15.1 mil)
Quarterly return on assets: 0.18% ($5.9 mil)
Return on Equity (ROE): 3.97% ($15.4 mil)
Quarterly return on equity: 1.48% ($5.8 mil)
Net income: $15.4 mil
Quarterly Net income: $1.4 mil
Pretax return on assets: 0.71% ($23,355.0 mil)
Quarterly Pretax return on assets: 0.24% ($7,894.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)830
Total assets$3,289,441
Cash and due from depository institutions$214,969
Interest-bearing balances$135,218
Securities$229,645
Federal funds sold & reverse repurchase agreements$1,498
Net loans & leases$2,395,809
Loan loss allowance $41,418
Trading account assets$0
Bank premises and fixed assets$69,814
Other real estate owned$122,295
Goodwill and other intangibles$69,732
All other assets$185,679
Life insurance assets$3,289,441
Total liabilities and capital$2,900,913
Total liabilities$2,759,122
Total deposits$2,419,229
Interest-bearing deposits$2,759,122
Deposits held in domestic offices$83
% insured (estimated)17105.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$87,531
Other borrowed funds $0
Subordinated debt $37,155
All other liabilities $388,528
Total equity capital$388,528
Total bank equity capital$388,528
Perpetual preferred stock$0
Common stock$5,670
Surplus$193,842
Undivided profits $189,016
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $6,090
Income earned, not collected on loans $115,038
Earning assets $0
Long-term assets (5+ years) $11,779
Average Assets, year-to-date $2,762,170
Average Assets, quarterly $571,856
Volatile liabilities $3,320,714
Insider loans $3,295,484
FHLB advances $2,127,247
Loans and leases held for sale $3,220,783
Unused loan commitments $2,207
Tier 1 (core) risk-based capital $2,207
Tier 2 risk-based capital $327,461
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $317,595
Derivatives$10,264
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $155,767
Total interest expense $22,524
Net interest income $133,243
Provision for loan and lease losses $41,301
Total noninterest income $26,801
Fiduciary activities $4
Service charges on deposit accounts $11,981
Trading account gains & fees $0
Additional noninterest income $14,816
Total noninterest expense $95,164
Salaries and employee benefits $51,438
Premises and equipment expense $10,738
Additional noninterest expense $32,988
Pre-tax net operating income $23,579
Securities gains (losses) $79
Applicable income taxes $8,296
Income before extraordinary items $15,362
Extraordinary gains - net $0
Net income attributable to bank $15,362
Net charge-offs $0
Cash dividends $15,362
Sale, conversion, retirement of capital stock, net $49,313
Net operating income $9,500
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.58%
Cost of funding earning assets 0.81%
Net interest margin 4.77%
Noninterest income to earning assets 0.96%
Noninterest expense to earning assets 3.41%
Net operating income to assets 0.46%
Return on assets (ROA) 0.46%
Pretax return on assets 0.71%
Return on equity (ROE) 3.97%
Retained earnings to average equity (YTD only) 1.51%
Net charge-offs to loans 2.01%
Credit loss provision to net charge-offs 83.75%
Efficiency ratio1.32%
Assets per employee$58,898
Cash dividends to net income (YTD only)3.96%
Condition Ratios (%)
Loss allowance to loans 61.84%
Loss allowance to noncurrent loans 1.70%
Noncurrent assets plus other real estate owned to assets 36.00%
Noncurrent loans to loans 7.21%
Net loans and leases to deposits4.72%
Net loans and leases to core deposits 86.83%
Equity capital to assets 100.47%
Core capital (leverage) ratio 11.81%
Tier 1 risk-based capital ratio 10.17%
Total risk-based capital ratio 15.39%
Memoranda
Average assets$17
Average earning assets$3,320,714
Average equity $387,135
Average loans $2,793,923
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$102
Number of Accounts1
Personal trust and agency accounts$102
Employee benefit-defined contribution accounts$102
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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83 North Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09417First Bank341 North Main Street, Troy, NC 27371January 01, 1934Full Service Brick and Mortar
2232754First Bank Robbins BranchNorth Middleton And Elm Streets, Robbins, NC 27325November 04, 1969Full Service Brick and Mortar
3232755First Bank Denton BranchSalisbury And Anderson Streets, Denton, NC 27239September 02, 1971Full Service Brick and Mortar
4232756First Bank Biscoe BranchU. S. Highway 220 And Pine Street, Biscoe, NC 27209October 24, 1972Full Service Brick and Mortar
5232757First Bank Operations BranchCountry Club Road And Leslie Street, Troy, NC 27371January 25, 1973Full Service Brick and Mortar
7232759First Bank Seven Lakes BranchNorth Carolina Highway 211, West End, NC 27376September 20, 1978Full Service Brick and Mortar
8232760First Bank Pinehurst Branch560 Highway 5 South, Pinehurst, NC 28374April 13, 1982Full Service Brick and Mortar
9232761First Bank Bennett BranchChatham And Carthage Streets, Bennett, NC 27208November 08, 1982Full Service Brick and Mortar
10221393First Bank Locust Branch114 West Main Street, Locust, NC 28097September 10, 1960Full Service Brick and Mortar
11232762First Bank Pinebluff Branch140 North Walnut Street, Pinebluff, NC 28373May 21, 1984
12291626First Bank Highway 52 North Branch2317 North First Street, Albemarle, NC 28001December 17, 1973Full Service Brick and Mortar
13291627First Bank Eastgate Shpg Ctr Branch1935 East Main Street, Albemarle, NC 28001March 16, 1981Full Service Brick and Mortar
15232764Montgomery Square BranchHighway 24/27, Troy, NC 27371June 23, 1986Full Service Brick and Mortar
17232766Richfield Branch135 Highway 49 North, Richfield, NC 28137March 03, 1986Full Service Brick and Mortar
19232768Kannapolis Branch421 South Main Street, Kannapolis, NC 28081March 10, 1986Full Service Brick and Mortar
205702Candor BranchSouth Main Street, Candor, NC 27229March 11, 1912Full Service Brick and Mortar
21232769Vass Branch200 Seaboard Street, Vass, NC 28394July 31, 1987Full Service Brick and Mortar
23232771Laurel Hill Branch200 Morgan Street, Laurel Hill, NC 28351March 05, 1988Full Service Brick and Mortar
25205484Main Asheboro Branch176 North Fayetteville Street, Asheboro, NC 27203March 06, 1972Full Service Brick and Mortar
27232774Aberdeen Branch105 Sandhill Boulevard, Aberdeen, NC 28315June 03, 1991Full Service Brick and Mortar
286304High Point Branch1200 North Main Street, High Point, NC 27262March 18, 1926Full Service Brick and Mortar
29221407Archdale Branch10901 N Main Street, Archdale, NC 27263June 04, 1979Full Service Brick and Mortar
34258248Rockingham BranchHighway 74 East, Rockingham, NC 28379November 15, 1986Full Service Brick and Mortar
36232778Seagrove Branch121 West Main Street, Seagrove, NC 27341December 02, 1996Full Service Brick and Mortar
37232779Lillington Branch1000 Main Street, Lillington, NC 27546March 12, 1997Full Service Brick and Mortar
38232780Sanford Branch1333 Plaza Boulevard, Sanford, NC 27330April 14, 1997Full Service Brick and Mortar
39232781Polkton BranchU.S. Highway 74 And Old Highway 74, Polkton, NC 28135December 29, 1997Full Service Brick and Mortar
40232782Sanford South Horner Branch2630 South Horner Blvd, Sanford, NC 27330June 15, 1998Full Service Brick and Mortar
42232784North Asheboro Branch1724 North Fayetteville Street, Asheboro, NC 27203August 17, 1998Full Service Brick and Mortar
43232785Maxton Branch133 West Central Street, Maxton, NC 28364November 23, 1998Full Service Brick and Mortar
44232786Angier Branch415 North Raleigh Street, Angier, NC 27501March 25, 1999Full Service Brick and Mortar
46357332Pittsboro Branch18 Chatham Corner, Pittsboro, NC 27312March 28, 2000Full Service Brick and Mortar
47357333Salisbury Branch1525 Jake Alexander Boulevard South, Salisbury, NC 28147April 17, 2000Full Service Brick and Mortar
48357541Anderson Creek Branch3210 Ray Road, Spring Lake, NC 28390July 17, 2000Full Service Brick and Mortar
4940908First Bank Southern Pines Brch205 Southeast Broad Street, Southern Pines, NC 28387January 01, 1922Full Service Brick and Mortar
50264869Pinehurst-Village BranchChinquapin Rd, Pinehurst, NC 28374January 01, 1922Full Service Brick and Mortar
52264871Pinecrest Plaza Branch46 Pinecrest Plaza, Southern Pines, NC 28387January 01, 1922Full Service Brick and Mortar
54264873Belle Meade Branch100 Waters Dr, Southern Pines, NC 28387June 22, 1999Full Service Brick and Mortar
55204802Lumberton North Elm Branch2801 North Elm Street, Lumberton, NC 28358August 01, 1963Full Service Brick and Mortar
56204806Pembroke Branch210 West 3rd Street, Pembroke, NC 28372March 01, 1939Full Service Brick and Mortar
57204814St. Pauls Branch301 West Broad Street, St. Pauls, NC 28384July 15, 1935Full Service Brick and Mortar
58204854Laurinburg Main Branch601 South Main Street, Laurinburg, NC 28352September 20, 1968Full Service Brick and Mortar
5943846Thomasville Branch22 Winston Street, Thomasville, NC 27360January 01, 1915Full Service Brick and Mortar
61365368Salisbury - Main Branch215 West Innes Street, Salisbury, NC 28144December 17, 2001Full Service Brick and Mortar
62365369Apex Branch402 East Williams Street, Apex, NC 27502January 16, 2001Full Service Brick and Mortar
63253181Broadway Branch229 North Main Street, Broadway, NC 27505August 05, 1981Full Service Brick and Mortar
64365621Mount Pleasant Branch8252 Highway 49 North, Mount Pleasant, NC 28124October 10, 2002Full Service Brick and Mortar
68205123Harmony Branch3364 Harmony Highway, Harmony, NC 28634October 24, 1956Full Service Brick and Mortar
69190548Kenansville Branch305 South Main Street, Kenansville, NC 28349August 26, 1940Full Service Brick and Mortar
70190546Fairmont Branch301 South Main Street, Fairmont, NC 28340January 02, 1934Full Service Brick and Mortar
71190582Wallace Branch517 North Norwood Street, Wallace, NC 28466April 18, 1977Full Service Brick and Mortar
72424261Mayodan Branch402 2nd Street, Mayodan, NC 27027November 10, 2003Full Service Brick and Mortar
73424746Tramway BranchU.S. Highway 1 And Pendergrass Road, Sanford, NC 27330December 23, 2003Full Service Brick and Mortar
77439900Rose Hill Branch501 S. Sycamore Street, Rose Hill, NC 28458April 04, 2005Full Service Brick and Mortar
78447425Liberty Square Branch201 Kennedy Road, Thomasville, NC 27360November 07, 2005Full Service Brick and Mortar
79450665Mooresville Branch553 East Plaza Drive, Mooresville, NC 28115April 10, 2006Full Service Brick and Mortar
81455600Landfall Branch1701 Eastwood Road, Wilmington, NC 28403October 02, 2006Full Service Brick and Mortar
82456602Shallotte Branch347 Whiteville Road, Nw, Shallotte, NC 28470October 23, 2006Full Service Brick and Mortar
84456681Leland Branch10 Waterford Business Way, Belville, NC 28451November 10, 2006Full Service Brick and Mortar
85461347Ocean Isle Branch113a Causeway Drive, Ocean Isle Beach, NC 28469Febuary 13, 2007Full Service Brick and Mortar
86462566Carthage Branch109 Monroe Street, Carthage, NC 28327April 04, 2007Full Service Brick and Mortar
9340671Wilmington Cooperative Bank Branch201 Market Street, Wilmington, NC 28401January 01, 1898Full Service Brick and Mortar
94263686Elizabethtown Branch 7232 Broad Street, Elizabethtown, NC 28337January 01, 1898Full Service Brick and Mortar
96263688Tabor City Branch 8102 East Fifth Street, Tabor City, NC 28463January 01, 1898Full Service Brick and Mortar
98263690Jacksonville Branch 5827 New Bridge Street, Jacksonville, NC 28540January 01, 1898Full Service Brick and Mortar
99263691Hanover Center Branch 23605 Oleander Drive, Wilmington, NC 28403January 01, 1898Full Service Brick and Mortar
101263693Beaufort Branch 91503 Live Oak Street, Beaufort, NC 28516January 01, 1898Full Service Brick and Mortar
102263694Jacksonville Branch 10400 Western Boulevard, Jacksonville, NC 28540January 01, 1898Full Service Brick and Mortar
103263695Washington Branch 11132 West 2nd Street, Washington, NC 27889January 01, 1898Full Service Brick and Mortar
104263696Belhaven Branch 12770 W Main St, Belhaven, NC 27810January 01, 1898Full Service Brick and Mortar
105263697Kill Devil Hills Branch 132007 Croatan Hwy, Kill Devil Hills, NC 27948January 01, 1898Full Service Brick and Mortar
106263699Washington Branch 151296 John Small Avenue, Washington, NC 27889June 30, 1987Full Service Brick and Mortar
107360346Whiteville Branch 181104 North J K Powell Boulevard, Whiteville, NC 28472April 23, 2001Full Service Brick and Mortar
108419328Morehead City Branch 20137 Highway 24 West, Morehead City, NC 28557July 01, 2003Full Service Brick and Mortar
109422374Monkey Junction Branch 195102 South College Road, Wilmington, NC 28412May 12, 2003Full Service Brick and Mortar
111424741Southport Branch 215210 Southport-Supply, Southport, NC 28461December 31, 2003Full Service Brick and Mortar
112449794Porter's Neck Branch 168286 Market Street, Wilmington, NC 28411January 03, 2006Full Service Brick and Mortar
115468967Corolla Branch821 Ocean Trail, Suite 3, Corolla, NC 27927October 19, 2007Limited Service Loan Production
11959023The Bank Of Asheville Branch79 Woodfin Place, Asheville, NC 28801December 01, 1997Full Service Brick and Mortar
120290673Candler Branch1487 Smokey Park Highway, Candler, NC 28715Febuary 01, 1999Full Service Brick and Mortar
121430584Leicester Branch349 New Leicester Highway, Asheville, NC 28806August 02, 2004Full Service Brick and Mortar
122445175South Asheville1985 Hendersonville Road, Asheville, NC 28803September 26, 2005Full Service Brick and Mortar
123465721Reynolds Office Branch199 Charlotte Highway, Asheville, NC 28803September 11, 2006Full Service Brick and Mortar
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9 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
657370Latta Branch100 East Leitner Street, Latta, SC 29565January 01, 1934Full Service Brick and Mortar
66224937Dillon Branch101 West Main Street, Dillon, SC 29536December 22, 1995Full Service Brick and Mortar
67224938Dillon Drive Through Branch206 East Monroe Street, Dillon, SC 29536December 01, 1997Limited Service Facility
8840866Sentry Bank & Trust Branch901 Chesterfield Highway, Cheraw, SC 29520January 01, 1929Full Service Brick and Mortar
89418995Florence Branch452 Second Loop Rd, Florence, SC 29505June 03, 2000Full Service Brick and Mortar
90426581Cheraw Branch515 Market Street, Cheraw, SC 29520Febuary 23, 2004Full Service Brick and Mortar
92490147Florence Main Branch2170 West Evans Street, Florence, SC 29501March 23, 2009Full Service Brick and Mortar
11410633Jefferson Branch 61P.O. Box 246, Jefferson, SC 29718August 12, 1946Full Service Brick and Mortar
116478495Little River Branch1602 Highway 17, Little River, SC 29566July 14, 2008Full Service Brick and Mortar
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6 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
74426807Abingdon Branch102 Wall Street, Abingdon, VA 24210January 20, 2004Full Service Brick and Mortar
75429728Radford Branch1400 Tyler Avenue, Radford, VA 24141July 14, 2004Full Service Brick and Mortar
76432796Wytheville Branch150 Virginia Avenue, Wytheville, VA 24382October 12, 2004Full Service Brick and Mortar
80212765Dublin Branch205 Broad Street, Dublin, VA 24084October 02, 1967Full Service Brick and Mortar
87473601Fort Chiswell Branch131 Ivanhoe Road, Unit 131d, Cross Roads Mini Mall, Max Meadows, VA 24360March 10, 2008Full Service Brick and Mortar
118509276Christiansburg Branch109 Roanoke Street, Christiansburg, VA 24073May 24, 2010Full Service Brick and Mortar
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