First Bancorp (NASDAQ:FBNC) Files An 8-K Other Events

Item 8.01 Other Events.

As previously reported, First Bancorp acquired Carolina Bank
Holdings, Inc. on March 3, 2017. The terms of the merger provided
that for each share of Carolina Bank Holdings, Inc. (Carolina
Bank) common stock, shareholders have the right, subject to
certain limitations, to receive either $20.00 in cash or 1.002
shares of First Bancorp common stock, provided that in the
aggregate, 25% of the consideration is to be paid in cash and the
balance of 75% will be in newly issued shares of First Bancorp
common stock.

First Bancorp issued a press release today to remind former
shareholders of Carolina Bank that the deadline for the election
of their preferred mix of stock and cash merger consideration is
5 p.m. on April 5, 2017, unless extended. The complete text of
the news release is attached to this report as Exhibit 99.1 and
is incorporated herein by reference.

Additional Information About the Carolina Bank
Acquisition and Where to Find It

First Bancorp has filed relevant documents concerning the
Carolina Bank acquisition with the SEC, including a registration
statement on Form S-4 which includes a proxy
statement/prospectus. Shareholders of Carolina Bank can obtain a
free copy of the proxy statement/prospectus, as well as other
filings by First Bancorp, at the SECs internet site
(http://www.sec.gov). Copies of the proxy statement/prospectus
and the filings with the SEC that are incorporated by reference
in the proxy statement/prospectus can also be obtained, without
charge, by directing a request to: First Bancorp, 300 SW Broad
Street, Southern Pines, NC, Attention: Investor Relations.

SHAREHOLDERS OF CAROLINA BANK ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE
SEC REGARDING THE TRANSACTION, BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT THE TRANSACTION.

About First Bancorp (NASDAQ:FBNC)

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Company engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Company offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers. In addition, the Company offers Internet banking, mobile banking, cash management and bank-by-phone capabilities to its customers. The Company also offers a mobile check deposit feature for its mobile banking customers that allows them to deposit checks through their smartphone. The Company offers remote deposit capture for its business customers. The Company conducts business from approximately 90 branches. The Bank’s subsidiaries include First Bank Insurance Services, Inc. (First Bank Insurance) and First Troy SPE, LLC.

First Bancorp (NASDAQ:FBNC) Recent Trading Information

First Bancorp (NASDAQ:FBNC) closed its last trading session up +0.62 at 29.57 with 44,622 shares trading hands.