First Bancorp to buy First Carolina Bancshares for USD 166 million in stock and cash - FBNC News | RalliesFirst Bancorp to buy First Carolina Bancshares for USD 166 million in stock and cash
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FBNC• First Bancorp agrees to acquire First Carolina Bancshares
- First Bancorp agreed to buy First Carolina Bancshares for USD 166 million in stock and cash, based on a USD 64.22 share price.
- Consideration includes 1,967,017 shares of First Bancorp common stock, plus USD 40 million in cash.
- Closing targeted for Q4 2026 or early Q1 2027, pending First Carolina shareholder vote, plus regulatory sign-off.
- Carolina Bank, headquartered in Florence, South Carolina, has about USD 831 million in assets, with 14 branches across six counties.
- Deal aims to deepen First Bancorp’s South Carolina footprint; pro forma, First Bank would rank top 10 in deposit share in both Carolinas.
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