FBNC 8-K
First Bancorp /Nc/ (FBNC)
8-K
2026-01-27
For: 2026-01-27
View Original
Added on
April 09, 2026
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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First Bancorp
INDEX
| Page | |||||
| Item 5.02 - Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers | 3 | ||||
| Item 8.01. Other Events | 3 | ||||
| Item 8.01. Other Events | 3 | ||||
| Item 9.01 – Financial Statements and Exhibits | 3 | ||||
| Signatures | 4 | ||||
| 5 | |||||
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ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
On January 27, 2026, First Bancorp (the “Company”), the parent company of First Bank announced that Mary Clara Capel has retired as a director of the Board of Directors of the Company, and as a director of the Board of Directors of First Bank effective January 27, 2026. Ms. Capel’s retirement was not the result of any disagreement between the Company and Ms. Capel concerning any matters relating to the Company’s operations, policies or practices.
A copy of First Bancorp’s Press Release making this announcement is attached as Exhibit 99.1 and is incorporated herein by reference.
ITEM 8.01 – OTHER EVENTS
On January 27, 2026, the Company announced that the Board of Directors of the Company has authorized the Company’s management to implement a stock repurchase plan for up to $40.0 million of the Company’s outstanding Common Stock. Repurchases under the plan may be made in the open market, in privately negotiated transactions or otherwise, subject to the terms of the plan, market conditions and other factors. Open market purchases will be made within the pricing, volume and other requirements of Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended.
The plan does not obligate the Company to acquire any particular amount of its Common Stock. The plan is valid through January 27, 2027 and may be extended, modified, suspended or discontinued at any time.
ITEM 8.01 – OTHER EVENTS
On January 27, 2026, the Company reported that its board of directors had approved a cash dividend on its common stock of $0.24 per share payable on April 24, 2026 to shareholders of record as of March 31, 2026. This represents an increase over the prior dividend amount of $0.23 per share.
ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| FIRST BANCORP | ||||||||||||||||||||
| January 27, 2026 | By: | /s/ Richard H. Moore | ||||||||||||||||||
| Richard H. Moore | ||||||||||||||||||||
| Chief Executive Officer | ||||||||||||||||||||
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News Release
| For Immediate Release: | For More Information, | |||||||||||||
| January 27, 2026 | Contact: Katie Doyle | |||||||||||||
| 336-286-8741 | ||||||||||||||
First Bancorp Announces Retirement of Director
Southern Pines, NC - On January 27, 2026, First Bancorp (NASDAQ: FBNC) (the “Company”), the parent company of First Bank, announced the retirement of Mary Clara Capel from the First Bancorp and First Bank Board of Directors effective immediately.
Ms. Capel has served as a director of the Company since 2005 and is a former Chair of the Board of Directors. The Capel family's service to First Bancorp spans nearly 70 years, beginning with her father, Jesse Capel, who joined the board in 1959.
Ms. Capel served as Director of Administration and Marketing at Capel, Incorporated, a rug manufacturer, importer, and exporter located in Troy, NC, from 1981 until her retirement in September 2017. She brings extensive business executive decision-making and oversight skills from her 37 years with the third-generation family business, which grew from its rug manufacturing operation in Troy, North Carolina to importing and exporting rugs worldwide.
Ms. Capel is a past member of the North Carolina Banking Commission and has attended the North Carolina Bank Directors' College. Her leadership and expertise have been invaluable to First Bancorp throughout her tenure.
First Bancorp is deeply grateful for the Capel family's nearly seven decades of dedicated service and leadership, which has been instrumental in the Company's growth and success.
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First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of $12.7 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 113 branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. First Bank also provides SBA loans to customers through its nationwide network of lenders.
Please visit our website at www.LocalFirstBank.com for more information.
First Bancorp's common stock is traded on The NASDAQ Global Select Market under the symbol "FBNC." Member FDIC, Equal Housing Lender.