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AI brief of an SEC Form 8-K · First Bancorp (Southern Pines NC) (FBNC)

First Bancorp names Adam Currie CEO of First Bank; authorizes $40.0 million buyback

Neutral Impact 4 of 5 leadership Written later

First Bancorp (FBNC) said Adam Currie, previously President of First Bank, becomes CEO of the bank effective February 7, 2025, succeeding Michael G. Mayer, who remains President of the company. The company also authorized a stock repurchase plan of up to $40.0 million of its common stock, which the filing says may be modified or discontinued at any time.

Key points

  • Adam Currie appointed President and CEO of First Bank, effective February 7, 2025
  • Michael G. Mayer relinquishes bank CEO role and remains President of First Bancorp; release says until early 2026
  • Board authorized repurchases of up to $40.0 million of common stock; no minimum amount required
  • Christian Wilson, EVP and Chief Operating Officer, signed a new employment agreement effective February 7, 2025

The filing

CompanyFirst Bancorp (Southern Pines NC) (FBNC)
Form8-K, current report
Filed with the SECFeb 6, 2025, 4:05 PM ET
Accession number0000811589-25-000005

Items reported: 1.01 Material Definitive Agreement5.02 Director / Officer Change8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 06, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.