First Bancorp (FBNC) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017
Document And Entity Information
Entity Registrant Name	FIRST BANCORP /NC/
Entity Central Index Key	811,589
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		24,654,711
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
ASSETS
Cash and due from banks, noninterest-bearing	$ 81,514	$ 71,645	$ 52,393
Due from banks, interest-bearing	323,646	234,348	148,734
Federal funds sold			467
Total cash and cash equivalents	405,160	305,993	201,594
Securities available for sale	214,743	199,329	247,140
Securities held to maturity (fair values of $134,185, $130,195, and $151,684)	133,254	129,713	148,485
Presold mortgages in process of settlement	11,661	2,116	3,102
Loans - non-covered	3,289,355	2,710,712	2,439,830
Loans - covered by FDIC loss share agreement			99,523
Total loans	3,289,355	2,710,712	2,539,353
Total allowance for loan losses	(23,546)	(23,781)	(26,648)
Net loans	3,265,809	2,686,931	2,512,705
Premises and equipment	97,142	75,351	75,268
Accrued interest receivable	10,524	9,286	8,986
FDIC indemnification asset			6,704
Goodwill	142,872	75,042	67,528
Other intangible assets	12,811	4,433	1,833
Foreclosed real estate	12,789	9,532	10,336
Bank-owned life insurance	86,923	74,138	72,594
Other assets	48,158	42,998	26,691
Total assets	4,441,846	3,614,862	3,382,966
LIABILITIES
Deposits: Noninterest bearing checking accounts	958,175	756,003	679,228
Interest bearing checking accounts	694,898	635,431	607,617
Money market accounts	814,079	685,331	667,504
Savings accounts	415,600	209,074	194,573
Time deposits of $100,000 or more	486,556	422,687	391,317
Other time deposits	259,862	238,827	286,582
Total deposits	3,629,170	2,947,353	2,826,821
Borrowings	290,403	271,394	186,394
Accrued interest payable	691	539	554
Other liabilities	32,121	27,475	19,365
Total liabilities	3,952,385	3,246,761	3,033,134
Commitments and contingencies
SHAREHOLDERS' EQUITY
Common stock, no par value per share. Authorized: 40,000,000 shares Issued & outstanding: 24,663,241, 20,844,505, and 19,865,779 shares	262,180	147,287	135,318
Retained earnings	231,503	225,921	210,250
Stock in rabbi trust assumed in acquisition	(7,688)
Rabbi trust obligation	7,688
Accumulated other comprehensive income (loss)	(4,222)	(5,107)	(3,023)
Total shareholders' equity	489,461	368,101	349,832
Total liabilities and shareholders' equity	4,441,846	3,614,862	3,382,966
Series C Preferred Stock [Member]
SHAREHOLDERS' EQUITY
Preferred stock, no par value per share. Authorized: 5,000,000 shares Series C, convertible, issued & outstanding: none, none, and 728,706 shares			$ 7,287

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Securities held to maturity fair values	$ 134,185	$ 130,195	$ 151,684
Preferred stock, shares authorized	5,000,000	5,000,000	5,000,000
Common stock, shares authorized	40,000,000	40,000,000	40,000,000
Common stock, shares issued	24,663,241	20,844,505	19,865,779
Common stock, shares outstanding	24,663,241	20,844,505	19,865,779
Series C Preferred Stock [Member]
Preferred stock, shares issued			728,706
Preferred stock, shares outstanding			728,706

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
INTEREST INCOME
Interest and fees on loans	$ 33,703	$ 29,573
Interest on investment securities:
Taxable interest income	1,824	1,823
Tax-exempt interest income	443	445
Other, principally overnight investments	498	222
Total interest income	36,468	32,063
INTEREST EXPENSE
Savings, checking and money market accounts	522	394
Time deposits	714	652
Other time deposits	166	274
Borrowings	770	548
Total interest expense	2,172	1,868
Net interest income	34,296	30,195
Provision for loan losses - non-covered	723	1,621
Provision (reversal) for loan losses - covered		(1,363)
Total provision (reversal) for loan losses	723	258
Net interest income after provision for loan losses	33,573	29,937
NONINTEREST INCOME
Service charges on deposit accounts	2,614	2,685
Other service charges, commissions and fees	3,173	2,830
Fees from presold mortgage loans	768	371
Commissions from sales of insurance and financial products	840	938
SBA consulting fees	1,260
SBA loan sale gains	622
Bank-owned life insurance income	508	508
Foreclosed property gains (losses), net	25	210
FDIC indemnification asset income (expense), net		(2,366)
Securities gains (losses), net	(235)	3
Other gains (losses), net	234	(177)
Total noninterest income	9,809	5,002
NONINTEREST EXPENSES
Salaries expense	13,950	11,475
Employee benefits expense	3,721	2,706
Total personnel expense	17,671	14,181
Net occupancy expense	2,184	1,943
Equipment related expenses	1,058	870
Merger and acquisition expenses	2,373	201
Intangibles amortization expense	576	186
Other operating expenses	8,210	7,392
Total noninterest expenses	32,072	24,773
Income before income taxes	11,310	10,166
Income tax expense	3,755	3,329
Net income	7,555	6,837
Preferred stock dividends		(58)
Net income available to common shareholders	$ 7,555	$ 6,779
Earnings per common share: Basic	$ 0.34	$ 0.34
Earnings per common share: Diluted	0.34	0.33
Dividends declared per common share	$ 0.08	$ 0.08
Weighted average common shares outstanding: Basic	21,983,963	19,783,747
Weighted average common shares outstanding: Diluted	22,064,923	20,553,858

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 7,555	$ 6,837
Unrealized gains (losses) on securities available for sale:
Unrealized holding gains (losses) arising during the period, pretax	1,113	817
Tax (expense) benefit	(407)	(319)
Reclassification to realized (gains) losses	235	(3)
Tax expense (benefit)	(87)	1
Postretirement Plans:
Amortization of unrecognized net actuarial (gain) loss	51	51
Tax expense (benefit)	(20)	(20)
Other comprehensive income (loss)	885	527
Comprehensive income	$ 8,440	$ 7,364

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Retained Earnings [Member]	Stock in Directors' Rabbi Trust [Member]	Directors' Deferred Fees Obligation [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning balance at Dec. 31, 2015	$ 7,287	$ 133,393	$ 205,060			$ (3,550)	$ 342,190
Beginning balance, shares at Dec. 31, 2015		19,748
Net income			6,837				6,837
Shares issued pursuant to acquisition		$ 1,500					1,500
Shares issued pursuant to acquisition, shares		79
Stock option exercises		$ 127					127
Stock option exercises, shares		8
Cash dividends declared ($0.08 per common share)			(1,589)				(1,589)
Preferred dividends			(58)				(58)
Stock-based compensation		$ 298					298
Stock-based compensation, shares		31
Other comprehensive income (loss)						527	527
Ending balance at Mar. 31, 2016	7,287	$ 135,318	210,250			(3,023)	$ 349,832
Ending balance, shares at Mar. 31, 2016		19,866					19,865,779
Beginning balance at Dec. 31, 2016		$ 147,287	225,921			(5,107)	$ 368,101
Beginning balance, shares at Dec. 31, 2016		20,845					20,844,505
Net income			7,555				$ 7,555
Shares issued pursuant to acquisition		$ 114,478		$ (7,688)	$ 7,688		114,478
Shares issued pursuant to acquisition, shares		3,799
Stock option exercises		$ 45					45
Stock option exercises, shares		4
Cash dividends declared ($0.08 per common share)			(1,973)				(1,973)
Stock-based compensation		$ 370					370
Stock-based compensation, shares		15
Other comprehensive income (loss)						885	885
Ending balance at Mar. 31, 2017		$ 262,180	$ 231,503	$ (7,688)	$ 7,688	$ (4,222)	$ 489,461
Ending balance, shares at Mar. 31, 2017		24,663					24,663,241

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share	$ 0.08	$ 0.08

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Cash Flows From Operating Activities
Net income	$ 7,555	$ 6,837
Reconciliation of net income  to net cash provided by operating activities:
Provision for loan losses	723	258	$ (23)
Net security premium amortization	232	680
Loan discount accretion	(1,360)	(1,055)
Purchase accounting accretion and amortization, net	(48)	2,091
Foreclosed property (gains) losses and write-downs, net	(25)	(210)
Loss (gain) on securities available for sale	235	(3)
Other losses (gains)	(234)	177
Decrease (increase) in net deferred loan fees	655	(385)
Depreciation of premises and equipment	1,300	1,120
Stock-based compensation expense	178	123
Amortization of intangible assets	576	186
Fees/gains from sale of presold mortgages and SBA loans	(1,390)	(371)
Origination of presold mortgages and SBA loans	(48,840)	(13,988)
Proceeds from sales of presold mortgages and SBA loans	45,454	15,601
Decrease in accrued interest receivable	279	180
Decrease in other assets	3,741	11,405
Decrease in accrued interest payable	(112)	(31)
Decrease in other liabilities	(8,257)	(2,762)
Net cash provided by operating activities	662	19,853
Cash Flows From Investing Activities
Purchases of securities available for sale	(29,313)	(99,896)
Proceeds from maturities/issuer calls of securities available for sale	6,632	18,852
Proceeds from maturities/issuer calls of securities held to maturity	7,357	5,772
Proceeds from sales of securities available for sale	35,333	8
Proceeds from sales of securities held to maturity	11,285
Purchases of Federal Reserve and Federal Home Loan Bank stock, net	(3,766)	(138)
Net increase in loans	(81,048)	(23,170)
Payments related to FDIC loss share agreements		(356)
Proceeds from sales of foreclosed real estate	1,818	1,858
Purchases of premises and equipment	(873)	(925)
Proceeds from sales of premises and equipment		21
Net cash received (paid) in acquisition	56,185	(1,580)
Net cash provided (used) by investing activities	3,610	(99,554)
Cash Flows From Financing Activities
Net increase in deposits	96,519	15,536
Cash dividends paid - common stock	(1,669)	(1,578)
Cash dividends paid - preferred stock		(58)
Proceeds from stock option exercises	45	127
Net cash provided by financing activities	94,895	14,027
Increase (decrease) in cash and cash equivalents	99,167	(65,674)
Cash and cash equivalents, beginning of period	305,993	267,268	267,268
Cash and cash equivalents, end of period	405,160	201,594	$ 305,993
Supplemental Disclosures of Cash Flow Information:
Cash paid (received) during the period for interest	2,020	1,899
Cash paid (received) during the period for income taxes	(1,495)	(4,305)
Non-cash transactions:
Unrealized gain (loss) on securities available for sale, net of taxes	854	496
Foreclosed loans transferred to other real estate	$ 1,968	$ 1,990

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 - Basis of Presentation In the opinion of the Company, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the consolidated financial position of the Company as of March 31, 2017 and 2016 and the consolidated results of operations and consolidated cash flows for the periods ended March 31, 2017 and 2016. All such adjustments were of a normal, recurring nature. Reference is made to the 2016 Annual Report on Form 10-K filed with the SEC for a discussion of accounting policies and other relevant information with respect to the financial statements. The results of operations for the periods ended March 31, 2017 and 2016 are not necessarily indicative of the results to be expected for the full year. The Company has evaluated all subsequent events through the date the financial statements were issued.

Accounting Policies

Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Accounting Policies	Note 2 – Accounting Policies Note 1 to the 2016 Annual Report on Form 10-K filed with the SEC contains a description of the accounting policies followed by the Company and discussion of recent accounting pronouncements. The following paragraphs update that information as necessary. In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance to change the recognition of revenue from contracts with customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for reporting periods beginning after December 31, 2017. The Company can apply the guidance using a full retrospective approach or a modified retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements. In January 2016, the FASB amended the Financial Instruments topic of the Accounting Standards Codification to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. This update is intended to improve the recognition and measurement of financial instruments and it requires an entity to: (i) measure equity investments at fair value through net income, with certain exceptions; (ii) present in other comprehensive income the changes in instrument-specific credit risk for financial liabilities measured using the fair value option; (iii) present financial assets and financial liabilities by measurement category and form of financial asset; (iv) calculate the fair value of financial instruments for disclosure purposes based on an exit price and; (v) assess a valuation allowance on deferred tax assets related to unrealized losses of available for sale debt securities in combination with other deferred tax assets. The guidance also provides an election to subsequently measure certain nonmarketable equity investments at cost less any impairment and adjusted for certain observable price changes and requires a qualitative impairment assessment of such equity investments and amends certain fair value disclosure requirements. The amendments will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will apply the guidance by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values will be applied prospectively to equity investments that exist as of the date of adoption of the amendments. The Company does not expect these amendments to have a material effect on its financial statements. In February 2016, the FASB issued new guidance on accounting for leases, which generally requires all leases to be recognized in the statement of financial position by recording an asset representing its right to use the underlying asset and recording a liability, which represents the Company’s obligation to make lease payments. The provisions of this guidance are effective for reporting periods beginning after December 15, 2018; early adoption is permitted. These provisions are to be applied using a modified retrospective approach. The Company is evaluating the effect that this new guidance will have on our consolidated financial statements, but does not expect it will have a material effect on its financial statements. In March 2016, the FASB amended the Liabilities topic of the Accounting Standards Codification to address the current and potential future diversity in practice related to the derecognition of a prepaid stored-value product liability. The amendments will be effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company will apply the guidance using a modified retrospective transition method by means of a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year in which the guidance is effective to each period presented. The Company does not expect these amendments to have a material effect on its financial statements. In March 2016, the FASB amended the Investments—Equity Method and Joint Ventures topic of the Accounting Standards Codification to eliminate the requirement to retroactively adopt the equity method of accounting and instead apply the equity method of accounting starting with the date it qualifies for that method. The amendments were effective for the Company on January 1, 2017. The Company will apply the guidance prospectively to any increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. The Company’s adoption of this amendment did not have a material effect on its financial statements. In March 2016, the FASB amended the Revenue from Contracts with Customers topic of the Accounting Standards Codification to clarify the implementation guidance on principal versus agent considerations and address how an entity should assess whether it is the principal or the agent in contracts that include three or more parties. The amendments will be effective for the Company for reporting periods beginning after December 15, 2017. The Company does not expect these amendments to have a material effect on its financial statements. In March 2016, the FASB issued guidance to simplify several aspects of the accounting for share-based payment award transactions including the income tax consequences, the classification of awards as either equity or liabilities, and the classification on the statement of cash flows. Additionally, the guidance simplifies two areas specific to entities other than public business entities allowing them apply a practical expedient to estimate the expected term for all awards with performance or service conditions that have certain characteristics and also allowing them to make a one-time election to switch from measuring all liability-classified awards at fair value to measuring them at intrinsic value. The amendments were effective for the Company on January 1, 2017 and the adoption of this amendment did not have a material effect on its financial statements. In April 2016, the FASB amended the Revenue from Contracts with Customers topic of the Accounting Standards Codification to clarify the guidance related to identifying performance obligations and accounting for licenses of intellectual property. The amendments will be effective for the Company for reporting periods beginning after December 15, 2017. The Company does not expect these amendments to have a material effect on its financial statements. In May 2016, the FASB amended the Revenue from Contracts with Customers topic of the Accounting Standards Codification to clarify guidance related to collectability, noncash consideration, presentation of sales tax, and transition. The amendments will be effective for the Company for reporting periods beginning after December 15, 2017. The Company does not expect these amendments to have a material effect on its financial statements. In June 2016, the FASB issued guidance to change the accounting for credit losses. The guidance requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. The guidance also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows. In August 2016, the FASB amended the Statement of Cash Flows topic of the Accounting Standards Codification to clarify how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments will be effective for the Company for fiscal years beginning after December 15, 2017, including interim periods within those years. The Company does not expect these amendments to have a material effect on its financial statements. In October 2016, the FASB amended the Consolidation topic of the Accounting Standards Codification to revise the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (VIE) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The amendments were effective for the Company on January 1, 2017 and the Company’s adoption of this amendment did not have a material effect on its financial statements. In November 2016, the FASB amended the Statement of Cash Flows topic of the Accounting Standards Codification to clarify how restricted cash is presented and classified in the statement of cash flows. The amendments will be effective for the Company for fiscal years beginning after December 15, 2017 including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In January 2017, the FASB issued guidance to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendment to the Business Combinations Topic is intended to address concerns that the existing definition of a business has been applied too broadly and has resulted in many transactions being recorded as business acquisitions that in substance are more akin to asset acquisitions. The guidance will be effective for the Company for reporting periods beginning after December 15, 2017 . In January 2017, the FASB updated the Accounting Changes and Error Corrections and the Investments—Equity Method and Joint Ventures Topics of the Accounting Standards Codification. The Accounting Standards Update incorporates into the Accounting Standards Codification recent SEC guidance about disclosing, under SEC SAB Topic 11.M, the effect on financial statements of adopting the revenue, leases, and credit losses standards. The ASU was effective upon issuance. The Company is currently evaluating the impact on additional disclosure requirements as each of the standards is adopted, however it does not expect these amendments to have a material effect on its financial position, results of operations or cash flows. In January 2017, the FASB issued amended the Goodwill and Other Topic of the Accounting Standards Codification to simplify the accounting for goodwill impairment for public business entities and other entities that have goodwill reported in their financial statements and have not elected the private company alternative for the subsequent measurement of goodwill. The amendment removes Step 2 of the goodwill impairment test. The amount of goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The effective date and transition requirements for the technical corrections will be effective for the Company for reporting periods beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not expect these amendments to have a material effect on its financial statements. In February 2017, the FASB amended the Other Income Topic of the Accounting Standards Codification to clarify the scope of the guidance on nonfinancial asset derecognition as well as the accounting for partial sales of nonfinancial assets. The amendments conform the derecognition guidance on nonfinancial assets with the model for transactions in the new revenue standard. The amendments will be effective for the Company for reporting periods beginning after December 15, 2017. The Company does not expect these amendments to have a material effect on its financial statements. In March 2017, the FASB amended the requirements in the Compensation—Retirement Benefits Topic of the Accounting Standards Codification related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans. The amendments will be effective for the Company for interim and annual periods beginning after December 15, 2017. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In March 2017, the FASB amended the requirements in the Receivables—Nonrefundable Fees and Other Costs Topic of the Accounting Standards Codification related to the amortization period for certain purchased callable debt securities held at a premium. The amendments shorten the amortization period for the premium to the earliest call date. The amendments will be effective for the Company for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Reclassifications

Reclassifications	3 Months Ended
	Mar. 31, 2017
Reclassifications [Abstract]
Reclassifications	Note 3 – Reclassifications Certain amounts reported in the period ended March 31, 2016 have been reclassified to conform to the presentation for March 31, 2017. These reclassifications had no effect on net income or shareholders’ equity for the periods presented, nor did they materially impact trends in financial information.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Acquisitions	Note 4 – Acquisitions Since January 1, 2016, the Company completed the acquisitions described below. The results of each acquired company/branch are included in the Company’s results beginning on its respective acquisition date. (1) On January 1, 2016, First Bank Insurance completed the acquisition of Bankingport, Inc. (“Bankingport”). The results of Bankingport are included in First Bancorp’s results beginning on the January 1, 2016 acquisition date. Bankingport was an insurance agency based in Sanford, North Carolina. This acquisition represented an opportunity to expand the insurance agency operations into a contiguous and significant banking market for the Company. Also, this acquisition provided the Company with a larger platform for leveraging insurance services throughout the Company’s bank branch network. The deal value was $2.2 million and the transaction was completed on January 1, 2016 with the Company paying $0.7 million in cash and issuing 79,012 shares of its common stock, which had a value of approximately $1.5 million. In connection with the acquisition, the Company also paid $1.1 million to purchase the office space previously leased by Bankingport. This acquisition has been accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of Bankingport were recorded based on estimates of fair values as of January 1, 2016. In connection with this transaction, the Company recorded $1.7 million in goodwill, which is non-deductible for tax purposes, and $0.7 million in other amortizable intangible assets. (2) On May 5, 2016, the Company completed the acquisition of SBA Complete, Inc. (“SBA Complete”). The results of SBA Complete are included in First Bancorp’s results beginning on the May 5, 2016 acquisition date. SBA Complete is a consulting firm that specializes in consulting with financial institutions across the country related to Small Business Administration (“SBA”) loan origination and servicing. The deal value was approximately $8.5 million with the Company paying $1.5 million in cash and issuing 199,829 shares of its common stock, which had a value of approximately $4.0 million. Per the terms of the agreement, the Company has also recorded an earn-out liability valued at $3.0 million, which will be paid in shares of Company stock in annual distributions over a three-year period if pre-determined goals are met for those three years. This acquisition has been accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of SBA Complete were recorded based on estimates of fair values, which according to applicable accounting guidance, are subject to change for twelve months following the acquisition. In connection with this transaction, the Company recorded $5.6 million in goodwill, which is non-deductible for tax purposes, and $2.0 million in other amortizable intangible assets. (3) On July 15, 2016, the Company completed a branch exchange with First Community Bank headquartered in Bluefield, Virginia. In the branch exchange transaction, First Bank acquired six of First Community Bank’s branches located in North Carolina, while concurrently selling seven of its branches in the southwestern area of Virginia to First Community Bank. In connection with the sale, the Company sold $150.6 million in loans, $5.7 million in premises and equipment and $134.3 million in deposits to First Community Bank. In connection with the sale, the Company received a deposit premium of $3.8 million, removed $1.0 million of allowance for loan losses associated with the sold loans, allocated and wrote-off $3.5 million of previously recorded goodwill, and recorded a net gain of $1.5 million in this transaction. In connection with the purchase transaction, the Company acquired assets with a fair value of $157.2 million, including $152.2 million in loans and $3.4 million in premises and equipment. Additionally, the Company assumed $111.3 million in deposits and $0.2 million in other liabilities. In connection with the purchase, the Company recorded: i) a discount on acquired loans of $1.5 million, ii) a premium on deposits of $0.3 million, iii) a $1.2 million core deposit intangible, and iv) $5.4 million in goodwill. The branch acquisition has been accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of the acquired branches were recorded on the Company’s balance sheet at their fair values as of July 15, 2016 and are subject to change for twelve months following the acquisition. The related results of operations for the acquired branches have been included in the Company’s consolidated statement of income since that date. The goodwill recorded in the branch exchange is deductible for tax purposes. (4) On March 3, 2017, the Company completed its acquisition of Carolina Bank Holdings, Inc. (“Carolina Bank”), headquartered in Greensboro, North Carolina, pursuant to an Agreement and Plan of Merger and Reorganization dated June 21, 2016. The results of Carolina Bank are included in First Bancorp’s results for the period ended March 31, 2017 beginning on the March 3, 2017 acquisition date. Carolina Bank Holdings, Inc. was the parent company of Carolina Bank, a North Carolina state-charted bank with eight bank branches located in the North Carolina cities of Greensboro, High Point, Burlington, Winston-Salem, and Asheboro, and mortgage offices in Burlington, Hillsborough, and Sanford. The acquisition complements the Company’s recent expansion into several of these high-growth markets and increases its market share in others with facilities, operations and experienced staff already in place. The Company was willing to record goodwill primarily due to the reasons just noted, as well as the positive earnings of Carolina Bank. The total merger consideration consisted of $25.3 million in cash and 3,799,471 million shares of the Company’s common stock, with each share of Carolina Bank common stock being exchanged for either $20.00 in cash or 1.002 shares of the Company’s stock, subject to the total consideration being 75% stock / 25% cash. The issuance of common stock was valued at $114,478,000 and was based on the Company’s closing stock price on March 3, 2017 of $30.13 per share. This acquisition has been accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of Carolina Bank were recorded based on estimates of fair values as of March 3, 2017. The Company may change its valuations of acquired Carolina Bank assets and liabilities for up to one year after the acquisition date. The table below is a condensed balance sheet disclosing the amount assigned to each major asset and liability category of Carolina Bank on March 3, 2017, and the related fair value adjustments recorded by the Company to reflect the acquisition. The $67.8 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ in thousands) As Fair As Assets Cash and cash equivalents $ 81,466 (2 ) (a) 81,464 Securities 49,629 (261 ) (b) 49,368 Loans, gross 505,560 (5,469 ) (c) 497,376 (2,715 ) (d) Allowance for loan losses (5,746 ) 5,746 (e) — Premises and equipment 17,967 4,251 (f) 22,218 Core deposit intangible — 8,790 (g) 8,790 Other 34,976 (4,804 ) (h) 30,172 Total 683,852 5,536 689,388 Liabilities Deposits $ 584,950 431 (i) 585,381 Borrowings 21,855 (2,855 ) (j) 19,000 Other 12,855 225 (k) 13,080 Total 619,660 (2,199 ) 617,461 Net identifiable assets acquired 71,927 Total cost of acquisition Value of stock issued $ 114,478 Cash paid in the acquisition 25,279 Total cost of acquisition 139,757 Goodwill recorded related to acquisition of Carolina Bank $ 67,830 Explanation of Fair Value Adjustments (a) This adjustment was recorded to a short-term investment to its estimated fair value. (b) This fair value adjustment was recorded to adjust the securities portfolio to its estimated fair value. (c) This fair value adjustment represents the amount necessary to reduce performing loans to their fair value due to interest rate factors and credit factors. Assuming the loans continue to perform, this amount will be amortized to increase interest income over the remaining lives of the related loans. (d) This fair value adjustment was recorded to write-down purchased credit impaired loans assumed in the acquisition to their estimated fair market value. (e) This fair value adjustment reduced the allowance for loan losses to zero as required by relevant accounting guidance. (f) This adjustment represents the amount necessary to increase premises and equipment from its book value on the date of acquisition to its estimated fair market value. (g) This fair value adjustment represents the value of the core deposit base assumed in the acquisition based on a study performed by an independent consulting firm. This amount was recorded by the Company as an identifiable intangible asset and will be amortized as expense on an accelerated basis over seven years. (h) This fair value adjustment primarily represents the net deferred tax liability associated with the other fair value adjustments made to record the transaction. (i) This fair value adjustment was recorded because the weighted average interest rate of Carolina Bank’s time deposits exceeded the cost of similar wholesale funding at the time of the acquisition. This amount will be amortized to reduce interest expense on an accelerated basis over their remaining five year life. (j) This fair value adjustment was primarily recorded because the interest rate of Carolina Bank’s trust preferred security was less than the current interest rate on similar instruments. This amount will be amortized on approximately a straight-line basis to increase interest expense over the remaining life of the related borrowing, which is 18 years. (k) This fair value adjustment represents miscellaneous adjustments needed to record assets and liabilities at their fair value. The following unaudited pro forma financial information presents the combined results of the Company and Carolina Bank as if the acquisition had occurred as of January 1, 2016, after giving effect to certain adjustments, including amortization of the core deposit intangible, and related income tax effects. The pro forma financial information does not necessarily reflect the results of operations that would have occurred had the Company and Carolina Bank constituted a single entity during such period. ($ in thousands, except share data) Carolina Bank Only - Pro Forma Combined Pro Forma Net interest income $ 1,886 38,209 35,966 Noninterest income 503 10,999 7,291 Total revenue 2,389 49,208 43,257 Net income available to common shareholders 210 5,377 7,880 Earnings per common share Basic $ 0.22 0.33 Diluted 0.22 0.32 The above pro forma results for the three months ended March 31, 2017 include merger-related expenses and charges recorded by Carolina Bank prior to the merger that are nonrecurring in nature and amounted to $4.6 million pretax, or $3.1 million after-tax ($0.12 per basic and diluted share).

Equity-Based Compensation Plans

Equity-Based Compensation Plans	3 Months Ended
	Mar. 31, 2017
Equity-Based Compensation Plans [Abstract]
Equity-Based Compensation Plans	Note 5 – Equity-Based Compensation Plans The Company recorded total stock-based compensation expense of $178,000 and $123,000 for the three months ended March 31, 2017 and 2016, respectively. Stock based compensation is reflected as an adjustment to cash flows from operating activities on the Company’s Consolidated Statement of Cash Flows. The Company recognized $66,000 and $48,000 of income tax benefits related to stock based compensation expense in the income statement for the three months ended March 31, 2017 and 2016, respectively. At March 31, 2017, the Company had the following equity-based compensation plans: the First Bancorp 2014 Equity Plan and the First Bancorp 2007 Equity Plan. The Company’s shareholders approved all equity-based compensation plans. The First Bancorp 2014 Equity Plan became effective upon the approval of shareholders on May 8, 2014. As of March 31, 2017, the First Bancorp 2014 Equity Plan was the only plan that had shares available for future grants, and there were 845,596 shares remaining available for grant. The First Bancorp 2014 Equity Plan is intended to serve as a means to attract, retain and motivate key employees and directors and to associate the interests of the plans’ participants with those of the Company and its shareholders. The First Bancorp 2014 Equity Plan allows for both grants of stock options and other types of equity-based compensation, including stock appreciation rights, restricted stock, restricted performance stock, unrestricted stock, and performance units. Recent equity grants to employees have either had performance vesting conditions, service vesting conditions, or both. Compensation expense for these grants is recorded over the various service periods based on the estimated number of equity grants that are probable to vest. No compensation cost is recognized for grants that do not vest and any previously recognized compensation cost will be reversed. The Company issues new shares of common stock when options are exercised. Certain of the Company’s stock option grants contain terms that provide for a graded vesting schedule whereby portions of the award vest in increments over the requisite service period. The Company recognizes compensation expense for awards with graded vesting schedules on a straight-line basis over the requisite service period for each incremental award. Compensation expense is based on the estimated number of stock options and awards that will ultimately vest. Over the past five years, there have only been minimal amounts of forfeitures, and therefore the Company assumes that all awards granted without performance conditions will become vested. As it relates to director equity grants, the Company grants common shares, valued at approximately $32,000 to each non-employee director (currently 10 in total) in June of each year. Compensation expense associated with these director grants is recognized on the date of grant since there are no vesting conditions. The Company’s senior officers receive their annual bonus earned under the Company’s annual incentive plan in a mix of 50% cash and 50% stock, with the stock being subject to a three year vesting term. In the last three years, a total of 55,648 shares of restricted stock have been granted related to performance in the preceding fiscal years. Total compensation expense associated with those grants was $757,000 and is being recognized over the respective vesting periods. The Company recorded $69,000 and $55,000 in compensation expense during the three months ended March 31, 2017 and 2016, respectively, related to these grants and expects to record $69,000 in compensation expense during each remaining quarter of 2017. In the last three years, the Compensation Committee also granted 105,616 shares of stock to various employees of the Company to promote retention. The total value associated with these grants amounted to $1.9 million, which is being recorded as an expense over their three year vesting periods. For the three months ended March 31, 2017 and 2016, total compensation expense related to these grants was $109,000 and $68,000, respectively. The Company expects to record $86,500 in compensation expense during each remaining quarter of 2017. All grants were issued based on the closing price of the Company’s common stock on the date of the grant. Under the terms of the predecessor plans and the First Bancorp 2014 Equity Plan, stock options can have a term of no longer than 10 years. In a change in control (as defined in the plans), unless the awards remain outstanding or substitute equivalent awards are provided, the awards become immediately vested. At March 31, 2017, there were 53,198 stock options outstanding related to the two First Bancorp plans, with exercise prices ranging from $14.35 to $20.80. The following table presents information regarding the activity for the first three months of 2017 related to the Company’s stock options outstanding: Options Outstanding Number of Weighted- Weighted- Aggregate Balance at January 1, 2017 59,948 $ 17.18 Granted — — Exercised (6,750 ) 19.61 $ 69,548 Forfeited — — Expired — — Outstanding at March 31, 2017 53,198 $ 16.87 1.3 $ 664,154 Exercisable at March 31, 2017 53,198 $ 16.87 1.3 $ 664,154 During the three months ended March 31, 2017 and 2016, the Company received $45,000 and $127,000, respectively, as a result of stock option exercises. The following table presents information regarding the activity the first three months of 2017 related to the Company’s outstanding restricted stock: Long-Term Restricted Stock Number of Units Weighted-Average Nonvested at January 1, 2017 91,790 $ 18.65 Granted during the period 15,344 30.03 Vested during the period (2,282 ) 18.27 Forfeited or expired during the period (4,496 ) 19.32 Nonvested at March 31, 2017 100,356 $ 20.37

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Common Share	Note 6 – Earnings Per Common Share Basic Earnings Per Common Share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period, excluding unvested shares of restricted stock. Diluted Earnings Per Common Share is computed by assuming the issuance of common shares for all potentially dilutive common shares outstanding during the reporting period. For the periods presented, the Company’s potentially dilutive common stock issuances related to unvested shares of restricted stock and stock option grants under the Company’s equity-based plans and the Company’s Series C Preferred stock, which was exchanged for common stock at a one-for-one ratio on December 22, 2016 - see Note 19 of the Company’s 2016 Annual Report on Form 10-K for additional detail. In computing Diluted Earnings Per Common Share, adjustments are made to the computation of Basic Earnings Per Common shares, as follows. As it relates to unvested shares of restricted stock, the number of shares added to the denominator is equal to the number of unvested shares less the assumed number of shares bought back by the Company in the open market at the average market price with the amount of proceeds being equal to the average deferred compensation for the reporting period. As it relates to stock options, it is assumed that all dilutive stock options are exercised during the reporting period at their respective exercise prices, with the proceeds from the exercises used by the Company to buy back stock in the open market at the average market price in effect during the reporting period. The difference between the number of shares assumed to be exercised and the number of shares bought back is included in the calculation of dilutive securities. As it relates to the preferred stock that was outstanding during the periods in 2016, dividends on the preferred stock were added back to net income and the preferred shares assumed to be converted were included in the number of shares outstanding. If any of the potentially dilutive common stock issuances have an anti-dilutive effect, the potentially dilutive common stock issuance is disregarded. The following is a reconciliation of the numerators and denominators used in computing Basic and Diluted Earnings Per Common Share: For the Three Months Ended March 31, 2017 2016 ($ in thousands except per share amounts) Income Shares Per Share Income Shares Per Share Basic EPS Net income available to common shareholders $ 7,555 21,983,963 $ 0.34 $ 6,779 19,783,747 $ 0.34 Effect of Dilutive Securities — 80,960 58 770,111 Diluted EPS per common share $ 7,555 22,064,923 $ 0.34 $ 6,837 20,553,858 $ 0.33 For the three months ended March 31, 2017, there were no options that were antidilutive. For the three months ended March 31, 2016, there were 50,000 options that were antidilutive because the exercise price exceeded the average market price for the period, and thus are not included in the calculation to determine the effect of dilutive securities.

Securities

Securities	3 Months Ended
	Mar. 31, 2017
Securities [Abstract]
Securities	Note 7 – Securities The book values and approximate fair values of investment securities at March 31, 2017 and December 31, 2016 are summarized as follows: March 31, 2017 December 31, 2016 Amortized Fair Unrealized Amortized Fair Unrealized ($ in thousands) Cost Value Gains (Losses) Cost Value Gains (Losses) Securities available for sale: Government-sponsored enterprise securities $ 19,498 19,426 8 (80 ) 17,497 17,490 — (7 ) Mortgage-backed securities 162,660 160,786 220 (2,094 ) 151,001 148,065 155 (3,091 ) Corporate bonds 34,322 34,531 286 (77 ) 33,833 33,600 91 (324 ) Equity securities — — — — 83 174 96 (5 ) Total available for sale $ 216,480 214,743 514 (2,251 ) 202,414 199,329 342 (3,427 ) Securities held to maturity: Mortgage-backed securities $ 76,201 75,264 — (937 ) 80,585 79,283 — (1,302 ) State and local governments 57,053 58,921 1,897 (29 ) 49,128 50,912 1,815 (31 ) Total held to maturity $ 133,254 134,185 1,897 (966 ) 129,713 130,195 1,815 (1,333 ) All of the Company’s mortgage-backed securities were issued by government-sponsored corporations. The following table presents information regarding securities with unrealized losses at March 31, 2017: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 13,917 80 — — 13,917 80 Mortgage-backed securities 167,034 2,513 17,862 518 184,896 3,031 Corporate bonds 8,021 17 940 60 8,961 77 Equity securities — — — — — — State and local governments 7,057 29 — — 7,057 29 Total temporarily impaired securities $ 196,029 2,639 18,802 578 214,831 3,217 The following table presents information regarding securities with unrealized losses at December 31, 2016: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 7,990 7 — — 7,990 7 Mortgage-backed securities 196,999 3,841 19,001 552 216,000 4,393 Corporate bonds 27,027 259 935 65 27,962 324 Equity securities — — 7 5 7 5 State and local governments 801 31 — — 801 31 Total temporarily impaired securities $ 232,817 4,138 19,943 622 252,760 4,760 In the above tables, all of the non-equity securities that were in an unrealized loss position at March 31, 2017 and December 31, 2016 are bonds that the Company has determined are in a loss position due primarily to interest rate factors and not credit quality concerns. The Company has evaluated the collectability of each of these bonds and has concluded that there is no other-than-temporary impairment. The Company does not intend to sell these securities, and it is more likely than not that the Company will not be required to sell these securities before recovery of the amortized cost. The Company also concluded that each of the equity securities in an unrealized loss position at December 31, 2016 was in such a position due to temporary fluctuations in the market prices of the securities. The Company’s policy is to record an impairment charge for any of these equity securities that remains in an unrealized loss position for twelve consecutive months unless the amount is insignificant. The book values and approximate fair values of investment securities at March 31, 2017, by contractual maturity, are summarized in the table below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair ($ in thousands) Cost Value Cost Value Debt securities Due within one year $ — — 2,123 2,144 Due after one year but within five years 19,498 19,426 21,815 22,527 Due after five years but within ten years 29,322 29,411 27,398 28,600 Due after ten years 5,000 5,120 5,717 5,650 Mortgage-backed securities 162,660 160,786 76,201 75,264 Total debt securities 216,480 214,743 133,254 134,185 Equity securities — — — — Total securities $ 216,480 214,743 133,254 134,185 At March 31, 2017 and December 31, 2016 investment securities with carrying values of $193,673,000 and $147,009,000, respectively, were pledged as collateral for public deposits. In the first quarter of 2017, the Company received proceeds from sales of securities of $46,618,000 and recorded losses of $235,000 from the sales. In the first quarter of 2016, the Company received proceeds from sales of securities of $8,000 and recorded $3,000 in gains from the sales. Included in “other assets” in the Consolidated Balance Sheets are cost method investments in Federal Home Loan Bank (“FHLB”) stock and Federal Reserve Bank of Richmond (“FRB”) stock totaling $23,694,000 and $19,826,000 at March 31, 2017 and December 31, 2016, respectively. The FHLB stock had a cost and fair value of $14,043,000 and $12,588,000 at March 31, 2017 and December 31, 2016, respectively, and serves as part of the collateral for the Company’s line of credit with the FHLB and is also a requirement for membership in the FHLB system. The FRB stock had a cost and fair value of $9,651,000 and $7,238,000 at March 31, 2017 and December 31, 2016, respectively. Periodically, both the FHLB and FRB recalculate the Company’s required level of holdings, and the Company either buys more stock or redeems a portion of the stock at cost. The Company determined that neither stock was impaired at either period end.

Loans and Asset Quality Informa

Loans and Asset Quality Information	3 Months Ended
	Mar. 31, 2017
Loans and Asset Quality Information [Abstract]
Loans and Asset Quality Information	Note 8 – Loans and Asset Quality Information Prior to September 22, 2016, the Company’s banking subsidiary, First Bank, had certain loans and foreclosed real estate that were covered by loss share agreements between the FDIC and First Bank which afforded First Bank significant loss protection - see Note 2 to the financial statements included in the Company’s 2011 Annual Report on Form 10-K for detailed information regarding FDIC-assisted purchase transactions. On September 22, 2016, the Company terminated all of the loss share agreements with the FDIC, such that all future losses and recoveries on loans and foreclosed real estate associated with the failed banks acquired through FDIC-assisted transactions will be borne solely by First Bank. In the information presented below, the term “covered” is used to describe assets that were subject to FDIC loss share agreements, while the term “non-covered” refers to the Company’s legacy assets, which were not included in any type of loss share arrangement. As discussed previously, all loss share agreements were terminated during 2016 and thus the entire loan portfolio is now classified as non-covered. Certain prior period disclosures will continue to present the breakout of the loan portfolio between covered and non-covered. On March 3, 2017, the Company acquired Carolina Bank (see Note 4 for more information). As a result of this acquisition, the Company recorded loans with a fair value of $497.4 million. Of those loans, $19.3 million were considered to be purchased credit impaired (“PCI”) loans, which are loans for which it is probable at acquisition date that all contractually required payments will not be collected. The remaining loans are considered to be purchased non-impaired loans and their related fair value discount or premium is recognized as an adjustment to yield over the remaining life of each loan. The following table relates to Carolina Bank PCI loans and summarizes the contractually required payments, which includes principal and interest, expected cash flows to be collected, and the fair value of acquired PCI loans at the acquisition date. ($ in thousands) Carolina Bank Acquisition Contractually required payments $ 27,108 Nonaccretable difference (4,237 ) Cash flows expected to be collected at acquisition 22,871 Accretable yield (3,617 ) Fair value of PCI loans at acquisition date $ 19,254 The following table relates to acquired Carolina Bank purchased non-impaired loans and provides the contractually required payments, fair value, and estimate of contractual cash flows not expected to be collected at the acquisition date. ($ in thousands) Carolina Bank Acquisition Contractually required payments $ 569,980 Fair value of acquired loans at acquisition date 478,122 Contractual cash flows not expected to be collected 3,650 The following is a summary of the major categories of total loans outstanding: ($ in thousands) March 31, 2017 December 31, 2016 March 31, 2016 Amount Percentage Amount Percentage Amount Percentage All loans (non-covered and covered): Commercial, financial, and agricultural $ 363,219 11% $ 261,813 9% $ 228,867 9% Real estate – construction, land development & other land loans 424,539 13% 354,667 13% 302,052 12% Real estate – mortgage – residential (1-4 family) first mortgages 792,791 24% 750,679 28% 757,696 30% Real estate – mortgage – home equity loans / lines of credit 317,336 10% 239,105 9% 235,380 9% Real estate – mortgage – commercial and other 1,335,924 40% 1,049,460 39% 966,937 38% Installment loans to individuals 56,250 2% 55,037 2% 47,163 2% Subtotal 3,290,059 100% 2,710,761 100% 2,538,095 100% Unamortized net deferred loan costs (fees) (704 ) (49 ) 1,258 Total loans $ 3,289,355 $ 2,710,712 $ 2,539,353 The following is a summary of the major categories of loans outstanding allocated to the non-covered and covered loan portfolios for periods when the FDIC loss share agreements were in effect at March 31, 2016. There were no covered loans at March 31, 2017 or December 31, 2016. ($ in thousands) March 31, 2016 Non-covered Covered Total Commercial, financial, and agricultural $ 228,124 743 $ 228,867 Real estate – construction, land development & other land loans 298,410 3,642 302,052 Real estate – mortgage – residential (1-4 family) first mortgages 684,085 73,611 757,696 Real estate – mortgage – home equity loans / lines of credit 225,245 10,135 235,380 Real estate – mortgage – commercial and other 955,550 11,387 966,937 Installment loans to individuals 47,158 5 47,163 Subtotal 2,438,572 99,523 2,538,095 Unamortized net deferred loan costs 1,258 — 1,258 Total $ 2,439,830 99,523 $ 2,539,353 The following presents the carrying amount of the covered loans at March 31, 2016 detailed by purchased credit impaired and purchased non-impaired loans (as determined on the date of the acquisition). There were no covered loans at March 31, 2017 or December 31, 2016. ($ in thousands) Purchased Purchased Non-impaired Non-impaired Total Total Covered loans: Commercial, financial, and agricultural $ — — 743 748 743 748 Real estate – construction, land development & other land loans 207 332 3,435 3,384 3,642 3,716 Real estate – mortgage – residential (1-4 family) first mortgages 80 564 73,531 85,962 73,611 86,526 Real estate – mortgage – home equity loans / lines of credit 7 14 10,128 11,516 10,135 11,530 Real estate – mortgage – commercial and other 873 1,973 10,514 11,105 11,387 13,078 Installment loans to individuals — — 5 35 5 35 Total $ 1,167 2,883 98,356 112,750 99,523 115,633 The following table presents information regarding covered purchased non-impaired loans since December 31, 2015. The amounts include principal only and do not reflect accrued interest as of the date of the acquisition or beyond. All balances of covered loans were transferred to non-covered as of the termination of the loss share agreements. ($ in thousands) Carrying amount of nonimpaired covered loans at December 31, 2015 $ 101,252 Principal repayments (7,997 ) Transfers to foreclosed real estate (1,036 ) Net loan recoveries 1,784 Accretion of loan discount 1,908 Transfer to non-covered loans due to expiration of loss-share agreement, April 1, 2016 (17,530 ) Transfer to non-covered loans due to termination of loss-share agreements, September 22, 2016 (78,381 ) Carrying amount of nonimpaired covered loans at December 31, 2016 $ — During the first quarter of 2017, the Company accreted $1,360,000 into interest income of loan discount on non-covered non-impaired purchased loans. As of March 31, 2017, there was a remaining loan discount of $18,410,000 related to purchased accruing loans, which is expected to be accreted into interest income over the lives of the respective loans. At March 31, 2017, the Company also had $402,000 of loan discount related to purchased nonaccruing loans, which the Company does not expect will be accreted into income. The following table presents information regarding all PCI loans since December 31, 2015. ($ in thousands) Purchased Credit Impaired Loans Accretable Carrying Balance at December 31, 2015 $ — 1,970 Change due to payments received — (1,386 ) Change due to loan charge-off — (70 ) Balance at December 31, 2016 $ — 514 Additions due to acquisition of Carolina Bank 3,617 19,254 Accretion (85 ) 85 Change due to payments received — (126 ) Transfer to foreclosed real estate — (69 ) Other — 7 Balance at March 31, 2017 $ 3,532 19,665 The remaining accretable yield associated with PCI loans at March 31, 2017 and 2016 was $3.5 million and $0, respectively. Accretable yield recognized during the three months ended March 31, 2017 and 2016 was $85,000 and $0, respectively. Also, during the first quarter of 2016, the Company received $46,000 in payments that exceeded the carrying amount of the related purchased credit impaired loans, of which $39,000 was recognized as loan discount accretion income and $7,000 was recorded as additional loan interest income. Nonperforming assets are defined as nonaccrual loans, restructured loans, loans past due 90 or more days and still accruing interest, nonperforming loans held for sale, and foreclosed real estate. Nonperforming assets are summarized as follows: ASSET QUALITY DATA ($ in thousands) March 31, December 31, March 31, 2016 Nonperforming assets Nonaccrual loans $ 25,684 27,468 41,411 Restructured loans - accruing 21,559 22,138 30,514 Accruing loans > 90 days past due — — — Total nonperforming loans 47,243 49,606 71,925 Foreclosed real estate 12,789 9,532 10,336 Total nonperforming assets $ 60,032 59,138 82,261 Total covered nonperforming assets included above (1) $ — — 10,698 Purchased credit impaired loans not included above (2) $ 19,167 — — (1) All FDIC loss share agreements were terminated effective September 22, 2016 and, accordingly, assets previously covered under those agreements become non-covered on that date. (2) In the March 3, 2017 acquisition of Carolina Bank Holdings, Inc., the Company acquired $19.3 million in purchased credit impaired loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $1.7 million in purchased credit impaired loans at March 31, 2017 that are contractually past due 90 days or more. At March 31, 2017 and December 31, 2016, the Company had $1.6 million and $1.7 million in residential mortgage loans in process of foreclosure, respectively. The following is a summary of the Company’s nonaccrual loans by major categories. ($ in thousands) March 31, December 31, Commercial, financial, and agricultural $ 1,368 1,842 Real estate – construction, land development & other land loans 1,607 2,945 Real estate – mortgage – residential (1-4 family) first mortgages 15,833 16,017 Real estate – mortgage – home equity loans / lines of credit 2,238 2,355 Real estate – mortgage – commercial and other 4,577 4,208 Installment loans to individuals 61 101 Total $ 25,684 27,468 The following table presents an analysis of the payment status of the Company’s loans as of March 31, 2017. ($ in thousands) Accruing Accruing Accruing Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 519 416 — 1,368 360,633 362,936 Real estate – construction, land development & other land loans 1,309 166 — 1,607 421,003 424,085 Real estate – mortgage – residential (1-4 family) first mortgages 11,794 591 — 15,833 760,896 789,114 Real estate – mortgage – home equity loans / lines of credit 586 243 — 2,238 313,526 316,593 Real estate – mortgage – commercial and other 3,123 78 — 4,577 1,313,638 1,321,416 Installment loans to individuals 192 144 — 61 55,853 56,250 Purchased credit impaired 323 62 1,744 — 17,536 19,665 Total $ 17,846 1,700 1,744 25,684 3,243,085 3,290,059 Unamortized net deferred loan fees (704 ) Total loans $ 3,289,355 The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2016. ($ in thousands) Accruing Accruing Accruing Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 92 — — 1,842 259,879 261,813 Real estate – construction, land development & other land loans 473 168 — 2,945 351,081 354,667 Real estate – mortgage – residential (1-4 family) first mortgages 4,487 443 — 16,017 729,732 750,679 Real estate – mortgage – home equity loans / lines of credit 1,751 178 — 2,355 234,821 239,105 Real estate – mortgage – commercial and other 1,482 449 — 4,208 1,042,807 1,048,946 Installment loans to individuals 186 193 — 101 54,557 55,037 Purchased credit impaired — — — — 514 514 Total $ 8,471 1,431 — 27,468 2,673,391 2,710,761 Unamortized net deferred loan fees (49 ) Total loans $ 2,710,712 The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2017. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Total As of and for the three months ended March 31, 2017 Beginning balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 23,781 Charge-offs (390 ) (177 ) (894 ) (231 ) (326 ) (187 ) — (2,205 ) Recoveries 298 490 196 65 143 55 — 1,247 Provisions 55 (240 ) 370 (116 ) 1,064 54 (464 ) 723 Ending balance $ 3,792 2,764 7,376 2,138 5,979 1,067 430 23,546 Ending balances as of March 31, 2017: Allowance for loan losses Individually evaluated for impairment $ 205 180 1,351 8 310 — — 2,054 Collectively evaluated for impairment $ 3,587 2,584 6,025 2,130 5,669 1,067 430 21,492 Purchased credit impaired $ — — — — — — — — Loans receivable as of March 31, 2017: Ending balance – total $ 363,219 424,539 792,791 317,336 1,335,924 56,250 — 3,290,059 Unamortized net deferred loan fees (704 ) Total loans $ 3,289,355 Ending balances as of March 31, 2017: Loans Individually evaluated for impairment $ 504 3,445 18,047 223 9,074 2 — 31,295 Collectively evaluated for impairment $ 362,433 420,640 771,067 316,370 1,312,341 56,248 — 3,239,099 Purchased credit impaired $ 282 454 3,677 743 14,509 — — 19,665 The following table presents the activity in the allowance for loan losses for the year ended December 31, 2016. There were no covered loans at December 31, 2016 and all reserves associated with previously covered loans have been transferred to the non-covered allowance. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Covered Total As of and for the year ended December 31, 2016 Beginning balance $ 4,742 3,754 7,832 2,893 5,816 1,051 696 1,799 28,583 Charge-offs (2,271 ) (1,101 ) (3,815 ) (969 ) (1,005 ) (1,008 ) (1) (244 ) (10,414 ) Recoveries 805 1,422 1,060 250 836 354 — 1,958 6,685 Transfer from covered status 56 65 839 293 127 — 1 (1,381 ) — Removed due to branch loan sale (263 ) (39 ) (347 ) (110 ) (228 ) (63 ) — — (1,050 ) Provisions 760 (1,410 ) 2,135 63 (448 ) 811 198 (2,132 ) (23 ) Ending balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 — 23,781 Ending balances as of December 31, 2016: Allowance for loan losses Individually evaluated for impairment $ 7 184 1,339 5 105 — — — 1,640 Collectively evaluated for impairment $ 3,822 2,507 6,365 2,415 4,993 1,145 894 — 22,141 Purchased credit impaired $ — — — — — — — — — Loans receivable as of December 31, 2016: Ending balance – total $ 261,813 354,667 750,679 239,105 1,049,460 55,037 — — 2,710,761 Unamortized net deferred loan fees (49 ) Total loans $ 2,710,712 Ending balances as of December 31, 2016: Loans Individually evaluated for impairment $ 644 4,001 20,807 280 6,494 — — — 32,226 Collectively evaluated for impairment $ 261,169 350,666 729,872 238,825 1,042,452 55,037 — — 2,678,021 Purchased credit impaired $ — — — — 514 — — — 514 The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2016. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Covered Total As of and for the three month ended March 31, 2016 Beginning balance $ 4,742 3,754 7,832 2,893 5,816 1,051 696 1,799 28,583 Charge-offs (677 ) (340 ) (1,951 ) (449 ) (166 ) (280 ) — (241 ) (4,104 ) Recoveries 86 90 233 55 130 113 — 1,204 1,911 Provisions 528 (159 ) 1,260 (232 ) 160 318 (254 ) (1,363 ) 258 Ending balance $ 4,679 3,345 7,374 2,267 5,940 1,202 442 1,399 26,648 Ending balances as of March 31, 2016: Allowance for loan losses Individually evaluated for impairment $ 43 214 1,280 111 559 75 — 438 2,720 Collectively evaluated for impairment $ 4,636 3,131 6,094 2,156 5,381 1,127 442 961 23,928 Purchased credit impaired $ — — — — — — — — — Loans receivable as of March 31, 2016: Ending balance – total $ 228,124 298,410 684,085 225,245 955,550 47,158 — 99,523 2,538,095 Unamortized net deferred loan costs 1,258 Total loans $ 2,539,353 Ending balances as of March 31, 2016: Loans Individually evaluated for impairment $ 818 4,735 20,925 538 14,334 104 — 5,105 46,559 Collectively evaluated for impairment $ 227,306 293,675 663,160 224,707 940,652 47,054 — 93,250 2,489,804 Purchased credit impaired $ — — — — 564 — — 1,168 1,732 The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of March 31, 2017. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 230 281 — 412 Real estate – mortgage – construction, land development & other land loans 2,716 3,903 — 2,969 Real estate – mortgage – residential (1-4 family) first mortgages 6,954 7,676 — 8,495 Real estate – mortgage –home equity loans / lines of credit 59 83 — 86 Real estate – mortgage –commercial and other 3,589 3,845 — 4,093 Installment loans to individuals 2 2 — 1 Total impaired loans with no allowance $ 13,550 15,790 — 16,056 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 274 288 205 163 Real estate – mortgage – construction, land development & other land loans 729 777 180 754 Real estate – mortgage – residential (1-4 family) first mortgages 11,093 11,401 1,351 10,933 Real estate – mortgage –home equity loans / lines of credit 164 164 8 165 Real estate – mortgage –commercial and other 5,485 5,496 310 3,690 Installment loans to individuals — — — — Total impaired loans with allowance $ 17,745 18,126 2,054 15,705 The Company recorded interest income of $295,000 and discount accretion of $443,000 on impaired loans during the three months ended March 31, 2017 related to an impaired loan relationship that was resolved during the quarter. The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of December 31, 2016. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 593 706 — 816 Real estate – mortgage – construction, land development & other land loans 3,221 4,558 — 3,641 Real estate – mortgage – residential (1-4 family) first mortgages 10,035 12,220 — 11,008 Real estate – mortgage –home equity loans / lines of credit 114 146 — 139 Real estate – mortgage –commercial and other 5,112 5,722 — 8,713 Installment loans to individuals — 2 — 1 Total impaired loans with no allowance $ 19,075 23,354 — 24,318 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 51 51 7 202 Real estate – mortgage – construction, land development & other land loans 780 798 184 844 Real estate – mortgage – residential (1-4 family) first mortgages 10,772 11,007 1,339 13,314 Real estate – mortgage –home equity loans / lines of credit 166 166 5 324 Real estate – mortgage –commercial and other 1,896 1,929 105 4,912 Installment loans to individuals — — — 49 Total impaired loans with allowance $ 13,665 13,951 1,640 19,645 Interest income recorded on impaired loans during the year ended December 31, 2016 was insignificant. The Company tracks credit quality based on its internal risk ratings. Upon origination, a loan is assigned an initial risk grade, which is generally based on several factors such as the borrower’s credit score, the loan-to-value ratio, the debt-to-income ratio, etc. Loans that are risk-graded as substandard during the origination process are declined. After loans are initially graded, they are monitored regularly for credit quality based on many factors, such as payment history, the borrower’s financial status, and changes in collateral value. Loans can be downgraded or upgraded depending on management’s evaluation of these factors. Internal risk-grading policies are consistent throughout each loan type. The following describes the Company’s internal risk grades in ascending order of likelihood of loss: Risk Grade Description Pass: 1 Loans with virtually no risk, including cash secured loans. 2 Loans with documented significant overall financial strength. These loans have minimum chance of loss due to the presence of multiple sources of repayment – each clearly sufficient to satisfy the obligation. 3 Loans with documented satisfactory overall financial strength. These loans have a low loss potential due to presence of at least two clearly identified sources of repayment – each of which is sufficient to satisfy the obligation under the present circumstances. 4 Loans to borrowers with acceptable financial condition. These loans could have signs of minor operational weaknesses, lack of adequate financial information, or loans supported by collateral with questionable value or marketability. 5 Loans that represent above average risk due to minor weaknesses and warrant closer scrutiny by management. Collateral is generally required and felt to provide reasonable coverage with realizable liquidation values in normal circumstances. Repayment performance is satisfactory. P (Pass) Consumer loans (<$500,000) that are of satisfactory credit quality with borrowers who exhibit good personal credit history, average personal financial strength and moderate debt levels. These loans generally conform to Bank policy, but may include approved mitigated exceptions to the guidelines. Special Mention: 6 Existing loans with defined weaknesses in primary source of repayment that, if not corrected, could cause a loss to the Bank. Classified: 7 An existing loan inadequately protected by the current sound net worth and paying capacity of the obligor or the collateral pledged, if any. These loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. 8 Loans that have a well-defined weakness that make the collection or liquidation in full highly questionable and improbable. Loss appears imminent, but the exact amount and timing is uncertain. 9 Loans that are considered uncollectible and are in the process of being charged-off. This grade is a temporary grade assigned for administrative purposes until the charge-off is completed. F (Fail) Consumer loans (<$500,000) with a well-defined weakness, such as exceptions of any kind with no mitigating factors, history of paying outside the terms of the note, insufficient income to support the current level of debt, etc. The following table presents the Company’s recorded investment in loans by credit quality indicators as of March 31, 2017. ($ in thousands) Pass Special Classified Classified Total Commercial, financial, and agricultural $ 350,286 9,366 1,917 1,368 362,937 Real estate – construction, land development & other land loans 407,155 7,759 7,564 1,607 424,085 Real estate – mortgage – residential (1-4 family) first mortgages 721,622 15,978 35,681 15,833 789,114 Real estate – mortgage – home equity loans / lines of credit 304,093 1,413 8,849 2,238 316,593 Real estate – mortgage – commercial and other 1,281,368 23,748 11,722 4,577 1,321,415 Installment loans to individuals 55,727 253 209 61 56,250 Purchased credit impaired 7,337 8,159 4,169 — 19,665 Total $ 3,127,588 66,676 70,111 25,684 3,290,059 Unamortized net deferred loan fees (704 ) Total loans 3,289,355 The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2016. ($ in thousands) Pass Special Classified Classified Total Commercial, financial, and agricultural $ 247,451 10,560 1,960 1,842 261,813 Real estate – construction, land development & other land loans 335,068 8,762 7,892 2,945 354,667 Real estate – mortgage – residential (1-4 family) first mortgages 678,878 16,998 38,786 16,017 750,679 Real estate – mortgage – home equity loans / lines of credit 226,159 1,436 9,155 2,355 239,105 Real estate – mortgage – commercial and other 1,005,687 26,032 13,019 4,208 1,048,946 Installment loans to individuals 54,421 256 259 101 55,037 Purchased credit impaired — 514 — — 514 Total $ 2,547,664 64,558 71,071 27,468 2,710,761 Unamortized net deferred loan fees (49 ) Total loans 2,710,712 Troubled Debt Restructurings The restructuring of a loan is considered a “troubled debt restructuring” if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. Concessions may include interest rate reductions or below market interest rates, principal forgiveness, restructuring amortization schedules and other actions intended to minimize potential losses. The vast majority of the Company’s troubled debt restructurings modified related to interest rate reductions combined with restructured amortization schedules. The Company does not generally grant principal forgiveness. All loans classified as troubled debt restructurings are considered to be impaired and are evaluated as such for determination of the allowance for loan losses. The Company’s troubled debt restructurings can be classified as either nonaccrual or accruing based on the loan’s payment status. The troubled debt restructurings that are nonaccrual are reported within the nonaccrual loan totals presented previously. The following table presents information related to loans modified in a troubled debt restructuring during the three months ended March 31, 2017 and 2016. ($ in thousands) For three months ended For the three months ended Number of Pre- Post- Number of Pre- Post- TDRs – Accruing Commercial, financial, and agricultural — $ — $ — — $ — $ — Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages — — — — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other 2 2,550 2,525 — — — Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — — — — Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages — — — — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 2 $ 2,550 $ 2,525 — $ — $ — Total covered TDRs arising during period included above — $ — $ — — $ — $ — Accruing restructured loans that were modified in the previous 12 months and that defaulted during the three months ended March 31, 2017 and 2016 are presented in the table below. The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to foreclosed real estate. ($ in thousands) For the three months ended For the three months ended Number of Recorded Number of Recorded Accruing TDRs that subsequently defaulted Commercial, financial, and agricultural — $ — 1 $ 44 Real estate – mortgage – residential (1-4 family first mortgages) 1 626 — — Real estate – mortgage – commercial and other — — 1 21 Total accruing TDRs that subsequently defaulted 1 $ 626 2 $ 65 Total covered accruing TDRs that subsequently defaulted included above — $ — 1 $ 44

Deferred Loan (Fees) Costs

Deferred Loan (Fees) Costs	3 Months Ended
	Mar. 31, 2017
Deferred Loan Costs [Abstract]
Deferred Loan (Fees) Costs	Note 9 – Deferred Loan (Fees) Costs The amount of loans shown on the Consolidated Balance Sheets includes net deferred loan (fees) costs of approximately ($704,000), ($49,000), and $1,258,000 at March 31, 2017, December 31, 2016, and March 31, 2016, respectively.

FDIC Indemnification Asset

FDIC Indemnification Asset	3 Months Ended
	Mar. 31, 2017
Fdic Indemnification Asset [Abstract]
FDIC Indemnification Asset	Note 10 – FDIC Indemnification Asset As discussed previously in Note 4 to the Company’s 2016 Annual Report on Form 10-K, the Company terminated all loss share agreements with the FDIC during 2016. As a result, the remaining balance in the FDIC Indemnification Asset, which represented the estimated amount to be received from the FDIC under the loss share agreements, was written off as indemnification asset expense as of the termination date. The FDIC indemnification asset was comprised of the following components as of the dates shown: ($ in thousands) March 31, December 31, March 31, Receivable (payable) related to loss claims incurred (recoveries), not yet received (paid), net $ — — (1,143 ) Receivable related to estimated future claims on loans — — 7,422 Receivable related to estimated future claims on foreclosed real estate — — 425 FDIC indemnification asset $ — — 6,704 The following presents a rollforward of the FDIC indemnification asset for the first quarter of 2016. ($ in thousands) Balance at January 1, 2016 $ 8,439 Decrease related to favorable changes in loss estimates (1,230 ) Increase related to reimbursable expenses 99 Cash paid (received) 356 Related to accretion of loan discount (965 ) Other 5 Balance at March 31, 2016 $ 6,704

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill And Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	Note 11 – Goodwill and Other Intangible Assets The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of March 31, 2017, December 31, 2016, and March 31, 2016 and the carrying amount of unamortized intangible assets as of those same dates. March 31, 2017 December 31, 2016 March 31, 2016 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists $ 2,369 806 2,369 746 1,269 572 Core deposit premiums 18,520 8,580 9,730 8,143 8,560 7,506 Other 1,032 303 1,032 224 92 10 Total $ 21,921 9,689 13,131 9,113 9,921 8,088 SBA servicing asset $ 579 415 — Unamortizable intangible assets: Goodwill $ 142,872 75,042 67,528 Activity related to transactions during the periods includes the following: (1) In connection with the January 1, 2016 acquisition of Bankingport, Inc., an insurance agency located in Sanford, North Carolina, the Company recorded $1,693,000 in goodwill, $591,000 in a customer list intangible, and $92,000 in other amortizable intangible assets. (2) In connection with the May 5, 2016 acquisition of SBA Complete, Inc., an SBA loan consulting firm, the Company recorded $5,553,000 in goodwill, $1,100,000 in a customer list intangible, and $940,000 in other amortizable intangible assets. (3) In connection with the branch exchange transaction with First Community Bank in Bluefield, Virginia, on July 15, 2016, the Company recorded a net increase of $1,961,000 in goodwill and $1,170,000 in core deposit premiums. (4) In connection with the Carolina Bank acquisition on March 3, 2017, the Company recorded a net increase of $67,830,000 in goodwill and $8,790,000 in core deposit premiums. In addition to the above acquisition related activity, the Company recorded $415,000 in servicing assets associated with the guaranteed portion of SBA loans originated and sold during the third and fourth quarters of 2016. During the first quarter of 2017, the Company recorded an additional $195,000 in servicing assets, as well as $31,000 in amortization expense. Servicing assets are recorded at fair value and amortized as a reduction of service fee income over the expected life of the related loans. Amortization expense of all intangible assets totaled $576,000 and $186,000 for the three months ended March 31, 2017 and 2016, respectively. The following table presents the estimated amortization expense for the last three quarters of calendar year 2017 and for each of the four calendar years ending December 31, 2021 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortized intangible assets. ($ in thousands) Estimated Amortization April 1 to December 31, 2017 $ 2,579 2018 2,862 2019 2,314 2020 1,750 2021 1,288 Thereafter 1,439 Total $ 12,232

Pension Plans

Pension Plans	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Pension Plans	Note 12 – Pension Plans The Company has historically sponsored two defined benefit pension plans – a qualified retirement plan (the “Pension Plan”) which was generally available to all employees, and a Supplemental Executive Retirement Plan (the “SERP”), which was for the benefit of certain senior management executives of the Company. Effective December 31, 2012, the Company froze both plans for all participants. Although no previously accrued benefits were lost, employees no longer accrue benefits for service subsequent to 2012. The Company recorded pension income totaling $162,000 for each of the three months ended March 31, 2017 and 2016, which primarily related to investment income from the Pension Plan’s assets. The following table contains the components of the pension income. For the Three Months Ended March 31, 2017 2016 2017 2016 2017 Total 2016 Total ($ in thousands) Pension Plan Pension Plan SERP SERP Both Plans Both Plans Service cost $ — — 27 27 27 27 Interest cost 375 376 60 59 435 435 Expected return on plan assets (675 ) (675 ) — — (675 ) (675 ) Amortization of transition obligation — — — — — — Amortization of net (gain)/loss 60 60 (9 ) (9 ) 51 51 Amortization of prior service cost — — — — — — Net periodic pension (income)/cost $ (240 ) (239 ) 78 77 (162 ) (162 ) The Company’s contributions to the Pension Plan are based on computations by independent actuarial consultants and are intended to be deductible for income tax purposes. The contributions are invested to provide for benefits under the Pension Plan. The Company does not expect to contribute to the Pension Plan in 2017. The Company’s funding policy with respect to the SERP is to fund the related benefits from the operating cash flow of the Company.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2017
Comprehensive Income [Abstract]
Comprehensive Income	Note 13 – Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during a period for non-owner transactions and is divided into net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes revenues, expenses, gains, and losses that are excluded from earnings under current accounting standards. The components of accumulated other comprehensive income (loss) for the Company are as follows: ($ in thousands) March 31, 2017 December 31, 2016 March 31, 2016 Unrealized gain (loss) on securities available for sale $ (1,737 ) (3,085 ) (349 ) Deferred tax asset (liability) 644 1,138 136 Net unrealized gain (loss) on securities available for sale (1,093 ) (1,947 ) (213 ) Additional pension asset (liability) (4,961 ) (5,012 ) (4,606 ) Deferred tax asset (liability) 1,832 1,852 1,796 Net additional pension asset (liability) (3,129 ) (3,160 ) (2,810 ) Total accumulated other comprehensive income (loss) $ (4,222 ) (5,107 ) (3,023 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2017 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2017 $ (1,947 ) (3,160 ) (5,107 ) Other comprehensive income (loss) before reclassifications 706 — 706 Amounts reclassified from accumulated other comprehensive income 148 31 179 Net current-period other comprehensive income (loss) 854 31 885 Ending balance at March 31, 2017 $ (1,093 ) (3,129 ) (4,222 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2016 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2016 $ (709 ) (2,841 ) (3,550 ) Other comprehensive income (loss) before reclassifications 498 — 498 Amounts reclassified from accumulated other comprehensive income (2 ) 31 29 Net current-period other comprehensive income (loss) 496 31 527 Ending balance at March 31, 2016 $ (213 ) (2,810 ) (3,023 )

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
Fair Value [Abstract]
Fair Value	Note 14 – Fair Value Relevant accounting guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) of identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at March 31, 2017. ($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Other Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 19,426 — 19,426 — Mortgage-backed securities 160,786 — 160,786 — Corporate bonds 34,531 — 34,531 — Total available for sale securities $ 214,743 — 214,743 — Nonrecurring Impaired loans 15,797 — — 15,797 Foreclosed real estate 12,789 — — 12,789 The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at December 31, 2016. ($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Other Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 17,490 — 17,490 — Mortgage-backed securities 148,065 — 148,065 — Corporate bonds 33,600 — 33,600 — Equity securities 174 — 174 — Total available for sale securities $ 199,329 — 199,329 — Nonrecurring Impaired loans 12,284 — — 12,284 Foreclosed real estate 9,532 — — 9,532 The following is a description of the valuation methodologies used for instruments measured at fair value. Securities Available for Sale — When quoted market prices are available in an active market, the securities are classified as Level 1 in the valuation hierarchy. If quoted market prices are not available, but fair values can be estimated by observing quoted prices of securities with similar characteristics, the securities are classified as Level 2 on the valuation hierarchy. Most of the fair values for the Company’s Level 2 securities are determined by our third-party bond accounting provider using matrix pricing. Matrix pricing is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities. For the Company, Level 2 securities include mortgage-backed securities, collateralized mortgage obligations, government-sponsored enterprise securities, and corporate bonds. In cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. The Company reviews the pricing methodologies utilized by the bond accounting provider to ensure the fair value determination is consistent with the applicable accounting guidance and that the investments are properly classified in the fair value hierarchy. Further, the Company validates the fair values for a sample of securities in the portfolio by comparing the fair values provided by the bond accounting provider to prices from other independent sources for the same or similar securities. The Company analyzes unusual or significant variances and conducts additional research with the portfolio manager, if necessary, and takes appropriate action based on its findings. Impaired loans — Fair values for impaired loans in the above table are measured on a non-recurring basis and are based on the underlying collateral values securing the loans, adjusted for estimated selling costs, or the net present value of the cash flows expected to be received for such loans. Collateral may be in the form of real estate or business assets including equipment, inventory and accounts receivable. The vast majority of the collateral is real estate. The value of real estate collateral is determined using an income or market valuation approach based on an appraisal conducted by an independent, licensed third party appraiser (Level 3). The value of business equipment is based upon an outside appraisal if deemed significant, or the net book value on the applicable borrower’s financial statements if not considered significant. Likewise, values for inventory and accounts receivable collateral are based on borrower financial statement balances or aging reports on a discounted basis as appropriate (Level 3). Any fair value adjustments are recorded in the period incurred as provision for loan losses on the Consolidated Statements of Income. Foreclosed real estate – Foreclosed real estate, consisting of properties obtained through foreclosure or in satisfaction of loans, is reported at the lower of cost or fair value. Fair value is measured on a non-recurring basis and is based upon independent market prices or current appraisals that are generally prepared using an income or market valuation approach and conducted by an independent, licensed third party appraiser, adjusted for estimated selling costs (Level 3). At the time of foreclosure, any excess of the loan balance over the fair value of the real estate held as collateral is treated as a charge against the allowance for loan losses. For any real estate valuations subsequent to foreclosure, any excess of the real estate recorded value over the fair value of the real estate is treated as a foreclosed real estate write-down on the Consolidated Statements of Income. For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of March 31, 2017, the significant unobservable inputs used in the fair value measurements were as follows: ($ in thousands) Description Fair Value at Valuation Significant Unobservable General Range Impaired loans $ 15,797 Appraised value; PV of expected cash flows Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0-10% Foreclosed real estate 12,789 Appraised value; List or contract price Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell 0-10% For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2016, the significant unobservable inputs used in the fair value measurements were as follows: ($ in thousands) Description Fair Value at Valuation Significant Unobservable General Range Impaired loans $ 12,284 Appraised value; PV of expected cash flows Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0-10% Foreclosed real estate 9,532 Appraised value; List or contract price Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell 0-10% Transfers of assets or liabilities between levels within the fair value hierarchy are recognized when an event or change in circumstances occurs. There were no transfers between Level 1 and Level 2 for assets or liabilities measured on a recurring basis during the three months ended March 31, 2017 or 2016. For the three months ended March 31, 2017 and 2016, the increase in the fair value of securities available for sale was $1,120,000 and $817,000, respectively, which is included in other comprehensive income (net of tax expense of $414,000 and $319,000, respectively). Fair value measurement methods at March 31, 2017 and 2016 are consistent with those used in prior reporting periods. The carrying amounts and estimated fair values of financial instruments at March 31, 2017 and December 31, 2016 are as follows: March 31, 2017 December 31, 2016 ($ in thousands) Level in Fair Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 81,514 81,514 71,645 71,645 Due from banks, interest-bearing Level 1 323,646 323,646 234,348 234,348 Securities available for sale Level 2 214,743 214,743 199,329 199,329 Securities held to maturity Level 2 133,254 134,185 129,713 130,195 Presold mortgages in process of settlement Level 1 11,661 11,661 2,116 2,116 Total loans, net of allowance Level 3 3,265,809 3,225,919 2,686,931 2,650,820 Accrued interest receivable Level 1 10,524 10,524 9,286 9,286 Bank-owned life insurance Level 1 86,923 86,923 74,138 74,138 Deposits Level 2 3,629,170 3,627,052 2,947,353 2,944,968 Borrowings Level 2 290,403 280,182 271,394 263,255 Accrued interest payable Level 2 691 691 539 539 Fair value methods and assumptions are set forth below for the Company’s financial instruments. Cash and Amounts Due from Banks, Presold Mortgages in Process of Settlement, Accrued Interest Receivable, and Accrued Interest Payable - The carrying amounts approximate their fair value because of the short maturity of these financial instruments. Available for Sale and Held to Maturity Securities - Fair values are provided by a third-party and are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments or matrix pricing. Loans - For nonimpaired loans, fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as commercial, financial and agricultural, real estate construction, real estate mortgages and installment loans to individuals. Each loan category is further segmented into fixed and variable interest rate terms. The fair value for each category is determined by discounting scheduled future cash flows using current interest rates offered on loans with similar risk characteristics. Fair values for impaired loans are primarily based on estimated proceeds expected upon liquidation of the collateral or the present value of expected cash flows. Bank-Owned Life Insurance – The carrying value of life insurance approximates fair value because this investment is carried at cash surrender value, as determined by the issuer. Deposits - The fair value of deposits with no stated maturity, such as noninterest-bearing checking accounts, savings accounts, interest-bearing checking accounts, and money market accounts, is equal to the amount payable on demand as of the valuation date. The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered in the marketplace for deposits of similar remaining maturities. Borrowings - The fair value of borrowings is based on the discounted value of the contractual cash flows. The discount rate is estimated using the rates currently offered by the Company’s lenders for debt of similar maturities. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no highly liquid market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial assets or liabilities include net premises and equipment, intangible and other assets such as deferred income taxes, prepaid expense accounts, income taxes currently payable and other various accrued expenses. In addition, the income tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates.

Shareholders' Equity Transactio

Shareholders' Equity Transactions	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Shareholders Equity Transactions	Note 15 – Shareholders’ Equity Transactions Stock Issuance On December 21, 2012, the Company issued 2,656,294 shares of its common stock and 728,706 shares of the Company’s Series C Preferred Stock to certain accredited investors, each at the price of $10.00 per share, pursuant to a private placement transaction. Net proceeds from this sale of common and preferred stock were $33.8 million and were used to strengthen and remove risk from the Company’s balance sheet in anticipation of a planned disposition of certain classified loans and write-down of foreclosed real estate. On December 22, 2016, the Company and the holder of the Series C Preferred Stock entered into an agreement to effectively convert the preferred stock into common stock. The Company exchanged 728,706 shares of preferred stock for the same number of shares of the Company’s common stock. As a result of the exchange, the Company has no shares of preferred stock currently outstanding. The Series C Preferred Stock qualified as Tier 1 capital and was Convertible Perpetual Preferred Stock, with dividend rights equal to the Company’s Common Stock. The Series C Preferred Stock was non-voting, except in limited circumstances. The Series C Preferred Stock paid a dividend per share equal to that of the Company’s common stock. During the first quarter of 2016, the Company accrued approximately $58,000 in preferred dividend payments for the Series C Preferred Stock.

Subsequent Event - Entry Into a

Subsequent Event - Entry Into an Acquisition Agreement	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Event - Entry Into an Acquisition Agreement	Note 16 – Subsequent Event – Entry into an Acquisition Agreement On May 1, 2017, the Company announced the signing of a definitive merger agreement to acquire ASB Bancorp, Inc. the parent company of Asheville Savings Bank, SSB, in a cash and stock transaction with a total value of approximately $175 million, or $43.12 per share based on the Company’s closing share price on April 28, 2017. Subject to the terms of the merger agreement, ASB Bancorp shareholders will receive 1.44 shares of First Bancorp's common stock or $41.90 in cash, or a combination thereof, for each share of ASB Bancorp common stock. The total consideration will be prorated as necessary to ensure that 90% of the total outstanding shares of ASB Bancorp common stock will be exchanged for First Bancorp common stock and 10% of the total outstanding shares of ASB Bancorp common stock will be exchanged for cash, provided that the maximum number of shares of First Bancorp common stock to be issued in exchange for ASB Bancorp common stock will not exceed 19.9% of the number of shares of First Bancorp common stock issued and outstanding immediately before the closing of the merger. Asheville Savings Bank currently operates 13 banking locations in the Asheville, Marion and Brevard markets. Asheville Savings Bank reported assets of $803 million, gross loans of $606 million and deposits of $682 million as of March 31, 2017. The acquisition complements the Company’s existing three branches in the Asheville market. The merger agreement has been unanimously approved by the boards of directors of each company. The transaction is expected to close in the fourth quarter of 2017 and is subject to customary conditions, including regulatory approvals and approval by ASB Bancorp’s shareholders.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2017
Acquisitions Tables
Condensed Balance Sheet of Carolina Bank and Related Fair Value Adjustments	($ in thousands) As Fair As Assets Cash and cash equivalents $ 81,466 (2 ) (a) 81,464 Securities 49,629 (261 ) (b) 49,368 Loans, gross 505,560 (5,469 ) (c) 497,376 (2,715 ) (d) Allowance for loan losses (5,746 ) 5,746 (e) — Premises and equipment 17,967 4,251 (f) 22,218 Core deposit intangible — 8,790 (g) 8,790 Other 34,976 (4,804 ) (h) 30,172 Total 683,852 5,536 689,388 Liabilities Deposits $ 584,950 431 (i) 585,381 Borrowings 21,855 (2,855 ) (j) 19,000 Other 12,855 225 (k) 13,080 Total 619,660 (2,199 ) 617,461 Net identifiable assets acquired 71,927 Total cost of acquisition Value of stock issued $ 114,478 Cash paid in the acquisition 25,279 Total cost of acquisition 139,757 Goodwill recorded related to acquisition of Carolina Bank $ 67,830 Explanation of Fair Value Adjustments (a) This adjustment was recorded to a short-term investment to its estimated fair value. (b) This fair value adjustment was recorded to adjust the securities portfolio to its estimated fair value. (c) This fair value adjustment represents the amount necessary to reduce performing loans to their fair value due to interest rate factors and credit factors. This amount will be amortized to increase interest income over the remaining lives of the related loans. (d) This fair value adjustment was recorded to write-down purchased credit impaired loans assumed in the acquisition to their estimated fair market value. (e) This fair value adjustment reduced the allowance for loan losses to zero as required by relevant accounting guidance. (f) This adjustment represents the amount necessary to increase premises and equipment from its book value on the date of acquisition to its estimated fair market value. (g) This fair value adjustment represents the value of the core deposit base assumed in the acquisition based on a study performed by an independent consulting firm. This amount was recorded by the Company as an identifiable intangible asset and will be amortized as expense on an accelerated basis over seven years. (h) This fair value adjustment primarily represents the net deferred tax liability associated with the other fair value adjustments made to record the transaction. (i) This fair value adjustment was recorded because the weighted average interest rate of Carolina Bank’s time deposits exceeded the cost of similar wholesale funding at the time of the acquisition. This amount will be amortized to reduce interest expense on an accelerated basis over their remaining five year life. (j) This fair value adjustment was primarily recorded because the interest rate of Carolina Bank’s trust preferred security was less than the current interest rate on similar instruments. This amount will be amortized on approximately a straight-line basis to increase interest expense over the remaining life of the related borrowing, which is 18 years. (k) This fair value adjustment represents miscellaneous adjustments needed to record assets and liabilities at their fair value.
Pro Forma Combined Financial Results of the Company and Carolina Bank	($ in thousands, except share data) Carolina Bank Only - Pro Forma Combined Pro Forma Net interest income $ 1,886 38,209 35,966 Noninterest income 503 10,999 7,291 Total revenue 2,389 49,208 43,257 Net income available to common shareholders 210 5,377 7,880 Earnings per common share Basic $ 0.22 0.33 Diluted 0.22 0.32

Equity-Based Compensation Pla26

Equity-Based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Equity-Based Compensation Plans [Abstract]
Schedule of Company's stock options outstanding	Options Outstanding Number of Weighted- Weighted- Aggregate Balance at January 1, 2017 59,948 $ 17.18 Granted — — Exercised (6,750 ) 19.61 $ 69,548 Forfeited — — Expired — — Outstanding at March 31, 2017 53,198 $ 16.87 1.3 $ 664,154 Exercisable at March 31, 2017 53,198 $ 16.87 1.3 $ 664,154
Schedule of outstanding restricted stock	Long-Term Restricted Stock Number of Units Weighted-Average Nonvested at January 1, 2017 91,790 $ 18.65 Granted during the period 15,344 30.03 Vested during the period (2,282 ) 18.27 Forfeited or expired during the period (4,496 ) 19.32 Nonvested at March 31, 2017 100,356 $ 20.37

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of reconciliation of the numerators and denominators used in computing Basic and Diluted Earnings Per Common Share	For the Three Months Ended March 31, 2017 2016 ($ in thousands except per share amounts) Income Shares Per Share Income Shares Per Share Basic EPS Net income available to common shareholders $ 7,555 21,983,963 $ 0.34 $ 6,779 19,783,747 $ 0.34 Effect of Dilutive Securities — 80,960 58 770,111 Diluted EPS per common share $ 7,555 22,064,923 $ 0.34 $ 6,837 20,553,858 $ 0.33

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2017
Securities [Abstract]
Book values and approximate fair values of investment securities	March 31, 2017 December 31, 2016 Amortized Fair Unrealized Amortized Fair Unrealized ($ in thousands) Cost Value Gains (Losses) Cost Value Gains (Losses) Securities available for sale: Government-sponsored enterprise securities $ 19,498 19,426 8 (80 ) 17,497 17,490 — (7 ) Mortgage-backed securities 162,660 160,786 220 (2,094 ) 151,001 148,065 155 (3,091 ) Corporate bonds 34,322 34,531 286 (77 ) 33,833 33,600 91 (324 ) Equity securities — — — — 83 174 96 (5 ) Total available for sale $ 216,480 214,743 514 (2,251 ) 202,414 199,329 342 (3,427 ) Securities held to maturity: Mortgage-backed securities $ 76,201 75,264 — (937 ) 80,585 79,283 — (1,302 ) State and local governments 57,053 58,921 1,897 (29 ) 49,128 50,912 1,815 (31 ) Total held to maturity $ 133,254 134,185 1,897 (966 ) 129,713 130,195 1,815 (1,333 )
Schedule of information regarding securities with unrealized losses	The following table presents information regarding securities with unrealized losses at March 31, 2017: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 13,917 80 — — 13,917 80 Mortgage-backed securities 167,034 2,513 17,862 518 184,896 3,031 Corporate bonds 8,021 17 940 60 8,961 77 Equity securities — — — — — — State and local governments 7,057 29 — — 7,057 29 Total temporarily impaired securities $ 196,029 2,639 18,802 578 214,831 3,217 The following table presents information regarding securities with unrealized losses at December 31, 2016: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 7,990 7 — — 7,990 7 Mortgage-backed securities 196,999 3,841 19,001 552 216,000 4,393 Corporate bonds 27,027 259 935 65 27,962 324 Equity securities — — 7 5 7 5 State and local governments 801 31 — — 801 31 Total temporarily impaired securities $ 232,817 4,138 19,943 622 252,760 4,760
Schedule of book values and approximate fair values of investment securities by contractual maturity	Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair ($ in thousands) Cost Value Cost Value Debt securities Due within one year $ — — 2,123 2,144 Due after one year but within five years 19,498 19,426 21,815 22,527 Due after five years but within ten years 29,322 29,411 27,398 28,600 Due after ten years 5,000 5,120 5,717 5,650 Mortgage-backed securities 162,660 160,786 76,201 75,264 Total debt securities 216,480 214,743 133,254 134,185 Equity securities — — — — Total securities $ 216,480 214,743 133,254 134,185

Loans and Asset Quality Infor29

Loans and Asset Quality Information (Tables)	3 Months Ended
	Mar. 31, 2017
Loans and Asset Quality Information [Abstract]
Summary of contractually required payments for Carolina Bank expected at acquisition date	($ in thousands) Carolina Bank Acquisition Contractually required payments $ 27,108 Nonaccretable difference (4,237 ) Cash flows expected to be collected at acquisition 22,871 Accretable yield (3,617 ) Fair value of PCI loans at acquisition date $ 19,254
Summary of contractually required payments for Carolina Bank not expected at acquisition date	($ in thousands) Carolina Bank Acquisition Contractually required payments $ 569,980 Fair value of acquired loans at acquisition date 478,122 Contractual cash flows not expected to be collected 3,650
Summary of the major categories of total loans outstanding	($ in thousands) March 31, 2017 December 31, 2016 March 31, 2016 Amount Percentage Amount Percentage Amount Percentage All loans (non-covered and covered): Commercial, financial, and agricultural $ 363,219 11% $ 261,813 9% $ 228,867 9% Real estate – construction, land development & other land loans 424,539 13% 354,667 13% 302,052 12% Real estate – mortgage – residential (1-4 family) first mortgages 792,791 24% 750,679 28% 757,696 30% Real estate – mortgage – home equity loans / lines of credit 317,336 10% 239,105 9% 235,380 9% Real estate – mortgage – commercial and other 1,335,924 40% 1,049,460 39% 966,937 38% Installment loans to individuals 56,250 2% 55,037 2% 47,163 2% Subtotal 3,290,059 100% 2,710,761 100% 2,538,095 100% Unamortized net deferred loan costs (fees) (704 ) (49 ) 1,258 Total loans $ 3,289,355 $ 2,710,712 $ 2,539,353
Summary of the major categories of non-covered and covered loans outstanding	($ in thousands) March 31, 2016 Non-covered Covered Total Commercial, financial, and agricultural $ 228,124 743 $ 228,867 Real estate – construction, land development & other land loans 298,410 3,642 302,052 Real estate – mortgage – residential (1-4 family) first mortgages 684,085 73,611 757,696 Real estate – mortgage – home equity loans / lines of credit 225,245 10,135 235,380 Real estate – mortgage – commercial and other 955,550 11,387 966,937 Installment loans to individuals 47,158 5 47,163 Subtotal 2,438,572 99,523 2,538,095 Unamortized net deferred loan costs 1,258 — 1,258 Total $ 2,439,830 99,523 $ 2,539,353
Schedule of the carrying amount of the covered loans	($ in thousands) Purchased Purchased Non-impaired Non-impaired Total Total Covered loans: Commercial, financial, and agricultural $ — — 743 748 743 748 Real estate – construction, land development & other land loans 207 332 3,435 3,384 3,642 3,716 Real estate – mortgage – residential (1-4 family) first mortgages 80 564 73,531 85,962 73,611 86,526 Real estate – mortgage – home equity loans / lines of credit 7 14 10,128 11,516 10,135 11,530 Real estate – mortgage – commercial and other 873 1,973 10,514 11,105 11,387 13,078 Installment loans to individuals — — 5 35 5 35 Total $ 1,167 2,883 98,356 112,750 99,523 115,633
Schedule of activity in covered purchased nonimpaired loans	($ in thousands) Carrying amount of nonimpaired covered loans at December 31, 2015 $ 101,252 Principal repayments (7,997 ) Transfers to foreclosed real estate (1,036 ) Net loan recoveries 1,784 Accretion of loan discount 1,908 Transfer to non-covered loans due to expiration of loss-share agreement, April 1, 2016 (17,530 ) Transfer to non-covered loans due to termination of loss-share agreements, September 22, 2016 (78,381 ) Carrying amount of nonimpaired covered loans at December 31, 2016 $ —
Schedule of activity in purchased credit impaired loans	($ in thousands) Purchased Credit Impaired Loans Accretable Carrying Balance at December 31, 2015 $ — 1,970 Change due to payments received — (1,386 ) Change due to loan charge-off — (70 ) Balance at December 31, 2016 $ — 514 Additions due to acquisition of Carolina Bank 3,617 19,254 Accretion (85 ) 85 Change due to payments received — (126 ) Transfer to foreclosed real estate — (69 ) Other — 7 Balance at March 31, 2017 $ 3,532 19,665
Summary of nonperforming assets	ASSET QUALITY DATA ($ in thousands) March 31, December 31, March 31, 2016 Nonperforming assets Nonaccrual loans $ 25,684 27,468 41,411 Restructured loans - accruing 21,559 22,138 30,514 Accruing loans > 90 days past due — — — Total nonperforming loans 47,243 49,606 71,925 Foreclosed real estate 12,789 9,532 10,336 Total nonperforming assets $ 60,032 59,138 82,261 Total covered nonperforming assets included above (1) $ — — 10,698 Purchased credit impaired loans not included above (2) $ 19,167 — — (1) All FDIC loss share agreements were terminated effective September 22, 2016 and, accordingly, assets previously covered under those agreements become non-covered on that date. (2) In the March 3, 2017 acquisition of Carolina Bank Holdings, Inc., the Company acquired $19.3 million in purchased credit impaired loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $1.7 million in purchased credit impaired loans at March 31, 2017 that are contractually past due 90 days or more.
Schedule of nonaccrual loans	($ in thousands) March 31, December 31, Commercial, financial, and agricultural $ 1,368 1,842 Real estate – construction, land development & other land loans 1,607 2,945 Real estate – mortgage – residential (1-4 family) first mortgages 15,833 16,017 Real estate – mortgage – home equity loans / lines of credit 2,238 2,355 Real estate – mortgage – commercial and other 4,577 4,208 Installment loans to individuals 61 101 Total $ 25,684 27,468
Schedule of analysis of the payment status of loans	The following table presents an analysis of the payment status of the Company’s loans as of March 31, 2017. ($ in thousands) Accruing Accruing Accruing Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 519 416 — 1,368 360,633 362,936 Real estate – construction, land development & other land loans 1,309 166 — 1,607 421,003 424,085 Real estate – mortgage – residential (1-4 family) first mortgages 11,794 591 — 15,833 760,896 789,114 Real estate – mortgage – home equity loans / lines of credit 586 243 — 2,238 313,526 316,593 Real estate – mortgage – commercial and other 3,123 78 — 4,577 1,313,638 1,321,416 Installment loans to individuals 192 144 — 61 55,853 56,250 Purchased credit impaired 323 62 1,744 — 17,536 19,665 Total $ 17,846 1,700 1,744 25,684 3,243,085 3,290,059 Unamortized net deferred loan fees (704 ) Total loans $ 3,289,355 The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2016. ($ in thousands) Accruing Accruing Accruing Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 92 — — 1,842 259,879 261,813 Real estate – construction, land development & other land loans 473 168 — 2,945 351,081 354,667 Real estate – mortgage – residential (1-4 family) first mortgages 4,487 443 — 16,017 729,732 750,679 Real estate – mortgage – home equity loans / lines of credit 1,751 178 — 2,355 234,821 239,105 Real estate – mortgage – commercial and other 1,482 449 — 4,208 1,042,807 1,048,946 Installment loans to individuals 186 193 — 101 54,557 55,037 Purchased credit impaired — — — — 514 514 Total $ 8,471 1,431 — 27,468 2,673,391 2,710,761 Unamortized net deferred loan fees (49 ) Total loans $ 2,710,712
Schedule of activity in the allowance for loan losses for non-covered and covered loans	The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2017. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Total As of and for the three months ended March 31, 2017 Beginning balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 23,781 Charge-offs (390 ) (177 ) (894 ) (231 ) (326 ) (187 ) — (2,205 ) Recoveries 298 490 196 65 143 55 — 1,247 Provisions 55 (240 ) 370 (116 ) 1,064 54 (464 ) 723 Ending balance $ 3,792 2,764 7,376 2,138 5,979 1,067 430 23,546 Ending balances as of March 31, 2017: Allowance for loan losses Individually evaluated for impairment $ 205 180 1,351 8 310 — — 2,054 Collectively evaluated for impairment $ 3,587 2,584 6,025 2,130 5,669 1,067 430 21,492 Purchased credit impaired $ — — — — — — — — Loans receivable as of March 31, 2017: Ending balance – total $ 363,219 424,539 792,791 317,336 1,335,924 56,250 — 3,290,059 Unamortized net deferred loan fees (704 ) Total loans $ 3,289,355 Ending balances as of March 31, 2017: Loans Individually evaluated for impairment $ 504 3,445 18,047 223 9,074 2 — 31,295 Collectively evaluated for impairment $ 362,433 420,640 771,067 316,370 1,312,341 56,248 — 3,239,099 Purchased credit impaired $ 282 454 3,677 743 14,509 — — 19,665 The following table presents the activity in the allowance for loan losses for the year ended December 31, 2016. There were no covered loans at December 31, 2016 and all reserves associated with previously covered loans have been transferred to the non-covered allowance. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Covered Total As of and for the year ended December 31, 2016 Beginning balance $ 4,742 3,754 7,832 2,893 5,816 1,051 696 1,799 28,583 Charge-offs (2,271 ) (1,101 ) (3,815 ) (969 ) (1,005 ) (1,008 ) (1) (244 ) (10,414 ) Recoveries 805 1,422 1,060 250 836 354 — 1,958 6,685 Transfer from covered status 56 65 839 293 127 — 1 (1,381 ) — Removed due to branch loan sale (263 ) (39 ) (347 ) (110 ) (228 ) (63 ) — — (1,050 ) Provisions 760 (1,410 ) 2,135 63 (448 ) 811 198 (2,132 ) (23 ) Ending balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 — 23,781 Ending balances as of December 31, 2016: Allowance for loan losses Individually evaluated for impairment $ 7 184 1,339 5 105 — — — 1,640 Collectively evaluated for impairment $ 3,822 2,507 6,365 2,415 4,993 1,145 894 — 22,141 Purchased credit impaired $ — — — — — — — — — Loans receivable as of December 31, 2016: Ending balance – total $ 261,813 354,667 750,679 239,105 1,049,460 55,037 — — 2,710,761 Unamortized net deferred loan fees (49 ) Total loans $ 2,710,712 Ending balances as of December 31, 2016: Loans Individually evaluated for impairment $ 644 4,001 20,807 280 6,494 — — — 32,226 Collectively evaluated for impairment $ 261,169 350,666 729,872 238,825 1,042,452 55,037 — — 2,678,021 Purchased credit impaired $ — — — — 514 — — — 514 The following table presents the activity in the allowance for loan losses for all loans for the three months ended March 31, 2016. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Covered Total As of and for the three month ended March 31, 2016 Beginning balance $ 4,742 3,754 7,832 2,893 5,816 1,051 696 1,799 28,583 Charge-offs (677 ) (340 ) (1,951 ) (449 ) (166 ) (280 ) — (241 ) (4,104 ) Recoveries 86 90 233 55 130 113 — 1,204 1,911 Provisions 528 (159 ) 1,260 (232 ) 160 318 (254 ) (1,363 ) 258 Ending balance $ 4,679 3,345 7,374 2,267 5,940 1,202 442 1,399 26,648 Ending balances as of March 31, 2016: Allowance for loan losses Individually evaluated for impairment $ 43 214 1,280 111 559 75 — 438 2,720 Collectively evaluated for impairment $ 4,636 3,131 6,094 2,156 5,381 1,127 442 961 23,928 Purchased credit impaired $ — — — — — — — — — Loans receivable as of March 31, 2016: Ending balance – total $ 228,124 298,410 684,085 225,245 955,550 47,158 — 99,523 2,538,095 Unamortized net deferred loan costs 1,258 Total loans $ 2,539,353 Ending balances as of March 31, 2016: Loans Individually evaluated for impairment $ 818 4,735 20,925 538 14,334 104 — 5,105 46,559 Collectively evaluated for impairment $ 227,306 293,675 663,160 224,707 940,652 47,054 — 93,250 2,489,804 Purchased credit impaired $ — — — — 564 — — 1,168 1,732
Schedule of impaired loans individually evaluated	The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of March 31, 2017. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 230 281 — 412 Real estate – mortgage – construction, land development & other land loans 2,716 3,903 — 2,969 Real estate – mortgage – residential (1-4 family) first mortgages 6,954 7,676 — 8,495 Real estate – mortgage –home equity loans / lines of credit 59 83 — 86 Real estate – mortgage –commercial and other 3,589 3,845 — 4,093 Installment loans to individuals 2 2 — 1 Total impaired loans with no allowance $ 13,550 15,790 — 16,056 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 274 288 205 163 Real estate – mortgage – construction, land development & other land loans 729 777 180 754 Real estate – mortgage – residential (1-4 family) first mortgages 11,093 11,401 1,351 10,933 Real estate – mortgage –home equity loans / lines of credit 164 164 8 165 Real estate – mortgage –commercial and other 5,485 5,496 310 3,690 Installment loans to individuals — — — — Total impaired loans with allowance $ 17,745 18,126 2,054 15,705 The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of December 31, 2016. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 593 706 — 816 Real estate – mortgage – construction, land development & other land loans 3,221 4,558 — 3,641 Real estate – mortgage – residential (1-4 family) first mortgages 10,035 12,220 — 11,008 Real estate – mortgage –home equity loans / lines of credit 114 146 — 139 Real estate – mortgage –commercial and other 5,112 5,722 — 8,713 Installment loans to individuals — 2 — 1 Total impaired loans with no allowance $ 19,075 23,354 — 24,318 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 51 51 7 202 Real estate – mortgage – construction, land development & other land loans 780 798 184 844 Real estate – mortgage – residential (1-4 family) first mortgages 10,772 11,007 1,339 13,314 Real estate – mortgage –home equity loans / lines of credit 166 166 5 324 Real estate – mortgage –commercial and other 1,896 1,929 105 4,912 Installment loans to individuals — — — 49 Total impaired loans with allowance $ 13,665 13,951 1,640 19,645
Schedule of recorded investment in loans by credit quality indicators	The following table presents the Company’s recorded investment in loans by credit quality indicators as of March 31, 2017. ($ in thousands) Pass Special Classified Classified Total Commercial, financial, and agricultural $ 350,286 9,366 1,917 1,368 362,937 Real estate – construction, land development & other land loans 407,155 7,759 7,564 1,607 424,085 Real estate – mortgage – residential (1-4 family) first mortgages 721,622 15,978 35,681 15,833 789,114 Real estate – mortgage – home equity loans / lines of credit 304,093 1,413 8,849 2,238 316,593 Real estate – mortgage – commercial and other 1,281,368 23,748 11,722 4,577 1,321,415 Installment loans to individuals 55,727 253 209 61 56,250 Purchased credit impaired 7,337 8,159 4,169 — 19,665 Total $ 3,127,588 66,676 70,111 25,684 3,290,059 Unamortized net deferred loan fees (704 ) Total loans 3,289,355 The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2016. ($ in thousands) Pass Special Classified Classified Total Commercial, financial, and agricultural $ 247,451 10,560 1,960 1,842 261,813 Real estate – construction, land development & other land loans 335,068 8,762 7,892 2,945 354,667 Real estate – mortgage – residential (1-4 family) first mortgages 678,878 16,998 38,786 16,017 750,679 Real estate – mortgage – home equity loans / lines of credit 226,159 1,436 9,155 2,355 239,105 Real estate – mortgage – commercial and other 1,005,687 26,032 13,019 4,208 1,048,946 Installment loans to individuals 54,421 256 259 101 55,037 Purchased credit impaired — 514 — — 514 Total $ 2,547,664 64,558 71,071 27,468 2,710,761 Unamortized net deferred loan fees (49 ) Total loans 2,710,712
Schedule of information related to loans modified in a troubled debt restructuring	($ in thousands) For three months ended For the three months ended Number of Pre- Post- Number of Pre- Post- TDRs – Accruing Commercial, financial, and agricultural — $ — $ — — $ — $ — Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages — — — — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other 2 2,550 2,525 — — — Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — — — — Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages — — — — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 2 $ 2,550 $ 2,525 — $ — $ — Total covered TDRs arising during period included above — $ — $ — — $ — $ —
Schedule of accruing restructured loans that defaulted in the period	($ in thousands) For the three months ended For the three months ended Number of Recorded Number of Recorded Accruing TDRs that subsequently defaulted Commercial, financial, and agricultural — $ — 1 $ 44 Real estate – mortgage – residential (1-4 family first mortgages) 1 626 — — Real estate – mortgage – commercial and other — — 1 21 Total accruing TDRs that subsequently defaulted 1 $ 626 2 $ 65 Total covered accruing TDRs that subsequently defaulted included above — $ — 1 $ 44

FDIC Indemnification Asset (Tab

FDIC Indemnification Asset (Tables)	3 Months Ended
	Mar. 31, 2017
Fdic Indemnification Asset [Abstract]
Schedule of the FDIC indemnification asset components	($ in thousands) March 31, December 31, March 31, Receivable (payable) related to loss claims incurred (recoveries), not yet received (paid), net $ — — (1,143 ) Receivable related to estimated future claims on loans — — 7,422 Receivable related to estimated future claims on foreclosed real estate — — 425 FDIC indemnification asset $ — — 6,704
Rollforward of the FDIC indemnification asset	($ in thousands) Balance at January 1, 2016 $ 8,439 Decrease related to favorable changes in loss estimates (1,230 ) Increase related to reimbursable expenses 99 Cash paid (received) 356 Related to accretion of loan discount (965 ) Other 5 Balance at March 31, 2016 $ 6,704

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill And Other Intangible Assets [Abstract]
Summary of the gross carrying amount and accumulated amortization of amortizable intangible assets and the carrying amount of unamortized intangible assets	March 31, 2017 December 31, 2016 March 31, 2016 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists $ 2,369 806 2,369 746 1,269 572 Core deposit premiums 18,520 8,580 9,730 8,143 8,560 7,506 Other 1,032 303 1,032 224 92 10 Total $ 21,921 9,689 13,131 9,113 9,921 8,088 SBA servicing asset $ 579 415 — Unamortizable intangible assets: Goodwill $ 142,872 75,042 67,528
Schedule of the estimated amortization expense for the five succeeding fiscal years	($ in thousands) Estimated Amortization April 1 to December 31, 2017 $ 2,579 2018 2,862 2019 2,314 2020 1,750 2021 1,288 Thereafter 1,439 Total $ 12,232

Pension Plans (Tables)

Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Schedule of the components of pension (income) expense	For the Three Months Ended March 31, 2017 2016 2017 2016 2017 Total 2016 Total ($ in thousands) Pension Plan Pension Plan SERP SERP Both Plans Both Plans Service cost $ — — 27 27 27 27 Interest cost 375 376 60 59 435 435 Expected return on plan assets (675 ) (675 ) — — (675 ) (675 ) Amortization of transition obligation — — — — — — Amortization of net (gain)/loss 60 60 (9 ) (9 ) 51 51 Amortization of prior service cost — — — — — — Net periodic pension (income)/cost $ (240 ) (239 ) 78 77 (162 ) (162 )

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2017
Comprehensive Income [Abstract]
Schedule of accumulated other comprehensive income (loss)	($ in thousands) March 31, 2017 December 31, 2016 March 31, 2016 Unrealized gain (loss) on securities available for sale $ (1,737 ) (3,085 ) (349 ) Deferred tax asset (liability) 644 1,138 136 Net unrealized gain (loss) on securities available for sale (1,093 ) (1,947 ) (213 ) Additional pension asset (liability) (4,961 ) (5,012 ) (4,606 ) Deferred tax asset (liability) 1,832 1,852 1,796 Net additional pension asset (liability) (3,129 ) (3,160 ) (2,810 ) Total accumulated other comprehensive income (loss) $ (4,222 ) (5,107 ) (3,023 )
Schedule of changes in accumulated other comprehensive income (loss)	The following table discloses the changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2017 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2017 $ (1,947 ) (3,160 ) (5,107 ) Other comprehensive income (loss) before reclassifications 706 — 706 Amounts reclassified from accumulated other comprehensive income 148 31 179 Net current-period other comprehensive income (loss) 854 31 885 Ending balance at March 31, 2017 $ (1,093 ) (3,129 ) (4,222 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2016 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2016 $ (709 ) (2,841 ) (3,550 ) Other comprehensive income (loss) before reclassifications 498 — 498 Amounts reclassified from accumulated other comprehensive income (2 ) 31 29 Net current-period other comprehensive income (loss) 496 31 527 Ending balance at March 31, 2016 $ (213 ) (2,810 ) (3,023 )

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value [Abstract]
Financial instruments that were measured at fair value on a recurring and nonrecurring basis	($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Other Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 19,426 — 19,426 — Mortgage-backed securities 160,786 — 160,786 — Corporate bonds 34,531 — 34,531 — Total available for sale securities $ 214,743 — 214,743 — Nonrecurring Impaired loans 15,797 — — 15,797 Foreclosed real estate 12,789 — — 12,789 The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at December 31, 2016. ($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Other Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 17,490 — 17,490 — Mortgage-backed securities 148,065 — 148,065 — Corporate bonds 33,600 — 33,600 — Equity securities 174 — 174 — Total available for sale securities $ 199,329 — 199,329 — Nonrecurring Impaired loans 12,284 — — 12,284 Foreclosed real estate 9,532 — — 9,532
Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis	For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of March 31, 2017, the significant unobservable inputs used in the fair value measurements were as follows: ($ in thousands) Description Fair Value at Valuation Significant Unobservable General Range Impaired loans $ 15,797 Appraised value; PV of expected cash flows Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0-10% Foreclosed real estate 12,789 Appraised value; List or contract price Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell 0-10% For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2016, the significant unobservable inputs used in the fair value measurements were as follows: ($ in thousands) Description Fair Value at Valuation Significant Unobservable General Range Impaired loans $ 12,284 Appraised value; PV of expected cash flows Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0-10% Foreclosed real estate 9,532 Appraised value; List or contract price Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell 0-10%
Schedule of the carrying amounts and estimated fair values of financial instruments	March 31, 2017 December 31, 2016 ($ in thousands) Level in Fair Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 81,514 81,514 71,645 71,645 Due from banks, interest-bearing Level 1 323,646 323,646 234,348 234,348 Securities available for sale Level 2 214,743 214,743 199,329 199,329 Securities held to maturity Level 2 133,254 134,185 129,713 130,195 Presold mortgages in process of settlement Level 1 11,661 11,661 2,116 2,116 Total loans, net of allowance Level 3 3,265,809 3,225,919 2,686,931 2,650,820 Accrued interest receivable Level 1 10,524 10,524 9,286 9,286 Bank-owned life insurance Level 1 86,923 86,923 74,138 74,138 Deposits Level 2 3,629,170 3,627,052 2,947,353 2,944,968 Borrowings Level 2 290,403 280,182 271,394 263,255 Accrued interest payable Level 2 691 691 539 539

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ / shares in Units, $ in Thousands	Mar. 03, 2017USD ($)$ / sharesshares	Jul. 15, 2016USD ($)	May 05, 2016USD ($)shares	Jan. 02, 2016USD ($)shares	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Shares issued pursuant to acquisition					$ 114,478	$ 1,500
Goodwill					142,872	67,528	$ 75,042
Premises and equipment sold						21
Allowance for loan losses					23,546	26,648	23,781
Total assets					4,441,846	3,382,966	3,614,862
Total deposits					3,629,170	2,826,821	2,947,353
Total loans					$ 3,289,355	$ 2,539,353	$ 2,710,712
Closing stock price | $ / shares	$ 30.13
Bankingport, Inc. [Member]
Business Acquisition [Line Items]
Total purchase price				$ 2,200
Payments for acquisition				$ 700
Shares issued pursuant to acquisition, shares | shares				79,012
Shares issued pursuant to acquisition				$ 1,500
Payment for purchase of office space				1,100
Goodwill				1,700
Other amortizable intangible assets				$ 700
SBA Complete, Inc. [Member]
Business Acquisition [Line Items]
Total purchase price			$ 8,500
Payments for acquisition			$ 1,500
Shares issued pursuant to acquisition, shares | shares			199,829
Shares issued pursuant to acquisition			$ 4,000
Goodwill			5,600
Other amortizable intangible assets			2,000
Earn-out liability			$ 3,000
Earn-out liability payment period			3 years
First Community Bank branches [Member]
Business Acquisition [Line Items]
Goodwill		$ 5,400
Loans sold		150,600
Premises and equipment sold		5,700
Deposits sold		134,300
Deposit premium		3,800
Allowance for loan losses		1,000
Write off of goodwill		3,500
Gain loss on acquisition		1,500
Acquired assets fair value		157,200
Premises and equipment		3,400
Other liabilities		200
Discount on acquired loans		1,500
Premium on deposits		300
Core deposit intangible		1,200
Total deposits		111,300
Total loans		$ 152,200
Carolina Bank [Member]
Business Acquisition [Line Items]
Payments for acquisition	$ 25,279
Shares issued pursuant to acquisition, shares | shares	3,799,471
Shares issued pursuant to acquisition	$ 114,478
Goodwill	67,830
Premises and equipment	17,967
Other liabilities	12,855
Core deposit intangible
Payments for acquisition per share | $ / shares	$ 20
Merger share conversion ratio	1.002
Contribution of cash in total consideration	25.00%
Contribution of stock in total consideration	75.00%
Carolina Bank [Member] | Pre Tax [Member]
Business Acquisition [Line Items]
Merger Related Expenses	$ 4,600
Carolina Bank [Member] | After Tax [Member]
Business Acquisition [Line Items]
Merger Related Expenses	$ 3,100
Basic and Diluted | $ / shares	$ 0.12
Carolina Bank [Member] | Borrowings [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible assets	18 years
Carolina Bank [Member] | Deposit Liabilities [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible assets	5 years
Carolina Bank [Member] | Core Deposit Intangible [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible assets	7 years

Acquisitions (Condensed Balance

Acquisitions (Condensed Balance Sheet of Carolina Bank and Related Fair Value Adjustments) (Details) - USD ($) $ in Thousands		Mar. 03, 2017	Mar. 03, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Fair Value Adjustments
Value of stock issued				$ 114,478	$ 1,500
Goodwill recorded related to acquisition of Carolina Bank				$ 142,872	$ 67,528	$ 75,042
As Recorded by First Bancorp [Member]
Assets
Cash and cash equivalents		$ 81,464	$ 81,464
Securities		49,368	49,368
Loans, gross		479,376	479,376
Allowance for loan losses
Premises and equipment		22,218	22,218
Core deposit intangible		8,790	8,790
Other		30,172	30,172
Total		689,388	689,388
Liabilities
Deposits		585,381	585,381
Borrowings		19,000	19,000
Other		13,080	13,080
Total		617,461	617,461
Net identifiable assets acquired		71,927	71,927
Carolina Bank [Member]
Assets
Cash and cash equivalents		81,466	81,466
Securities		49,629	49,629
Loans, gross		505,560	505,560
Allowance for loan losses		(5,746)	(5,746)
Premises and equipment		17,967	17,967
Core deposit intangible
Other		34,976	34,976
Total		683,852	683,852
Liabilities
Deposits		584,950	584,950
Borrowings		21,855	21,855
Other		12,855	12,855
Total		619,660	619,660
Fair Value Adjustments
Value of stock issued		114,478
Cash paid in the acquisition		25,279
Goodwill recorded related to acquisition of Carolina Bank		$ 67,830	67,830
Fair Value Adjustments [Member]
Fair Value Adjustments
Cash and cash equivalents	[1]		(2)
Securities	[2]		(261)
Loans, gross	[3]		(5,469)
Write-down of purchased credit impaired loans	[4]		(2,715)
Allowance for loan losses	[5]		5,746
Premises and equipment	[6]		4,251
Core deposit intangible	[7]		8,790
Other	[8]		(4,804)
Total Assets			5,536
Deposits	[9]		431
Borrowings	[10]		(2,855)
Other	[11]		225
Total Liabilities			(2,199)
Value of stock issued			114,478
Cash paid in the acquisition			25,279
Total cost of acquisition			$ 139,757
[1]	This adjustment was recorded to a short-term investment to its estimated fair value.
[2]	This fair value adjustment was recorded to adjust the securities portfolio to its estimated fair value.
[3]	This fair value adjustment represents the amount necessary to reduce performing loans to their fair value due to interest rate factors and credit factors. This amount will be amortized to increase interest income over the remaining lives of the related loans.
[4]	This fair value adjustment was recorded to write-down purchased credit impaired loans assumed in the acquisition to their estimated fair market value.
[5]	This fair value adjustment reduced the allowance for loan losses to zero as required by relevant accounting guidance.
[6]	This adjustment represents the amount necessary to increase premises and equipment from its book value on the date of acquisition to its estimated fair market value.
[7]	This fair value adjustment represents the value of the core deposit base assumed in the acquisition based on a study performed by an independent consulting firm. This amount was recorded by the Company as an identifiable intangible asset and will be amortized as expense on an accelerated basis over seven years.
[8]	This fair value adjustment primarily represents the net deferred tax liability associated with the other fair value adjustments made to record the transaction.
[9]	This fair value adjustment was recorded because the weighted average interest rate of Carolina Bank's time deposits exceeded the cost of similar wholesale funding at the time of the acquisition. This amount will be amortized to reduce interest expense on an accelerated basis over their remaining five year life.
[10]	This fair value adjustment was primarily recorded because the interest rate of Carolina Bank's trust preferred security was less than the current interest rate on similar instruments. This amount will be amortized on approximately a straight-line basis to increase interest expense over the remaining life of the related borrowing, which is 18 years.
[11]	This fair value adjustment represents miscellaneous adjustments needed to record assets and liabilities at their fair value.

Acquisitions (Summary of Profor

Acquisitions (Summary of Proforma Combined) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Net interest income		$ 38,209	$ 35,966
Noninterest income		10,999	7,291
Total revenue		49,208	43,257
Net income available to common shareholders		$ 5,377	$ 7,880
Earnings per common share
Basic		$ 0.22	$ 0.33
Diluted		$ 0.22	$ 0.32
Carolina Bank Holdings, Inc. [Member]
Net interest income	$ 1,886
Noninterest income	503
Total revenue	2,389
Net income available to common shareholders	$ 210

Equity-Based Compensation Pla38

Equity-Based Compensation Plans (Narrative) (Details) - USD ($)	3 Months Ended		27 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017
Stock based compensation expense	$ 178,000	$ 123,000
Stock based compensation, income tax benefit	66,000	48,000
Proceeds from stock options exercised	45,000	127,000
Employees [Member]
Stock based compensation expense	109,000	68,000	$ 1,900,000
Stock-based compensation expense expected to be recorded	$ 86,500		$ 86,500
Vesting period			3 years
Grants in period (options)			105,616
First Bancorp 2014 Equity Plan [Member]
Shares remaining available for grant	845,596		845,596
Director equity grants granted, value	$ 32,000
First Bancorp Plans [Member]
Stock options outstanding	53,198		53,198
Exercise price range - floor	$ 14.35
Exercise prices range - ceiling	$ 20.80
Restricted Stock [Member] | Senior Executives [Member]
Stock based compensation expense	$ 69,000	$ 55,000
Stock-based compensation expense expected to be recorded	$ 69,000		$ 69,000
Vesting period	3 years
Total compensation expense associated with senior executives grants	$ 757,000		$ 757,000
Grants in period (options)	55,648
Percent of bonus earned under the incentive plan in cash	50.00%
Percent of bonus earned under the incentive plan in shares of restricted stock	50.00%

Equity-Based Compensation Pla39

Equity-Based Compensation Plans (Schedule of Company's Stock Options Outstanding) (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Number of shares:
Balance options outstanding, beginning | shares	59,948
Granted | shares
Exercised | shares	(6,750)
Forfeited | shares
Expired | shares
Balance options outstanding, end | shares	53,198
Exercisable, end of period | shares	53,198
Weighted Average Exercise Price
Balance, beginning | $ / shares	$ 17.18
Granted | $ / shares
Exercised | $ / shares	19.61
Forfeited | $ / shares
Expired | $ / shares
Outstanding | $ / shares	16.87
Exercisable | $ / shares	$ 16.87
Weighted- Average Contractual Term (years), outstanding	1 year 3 months 18 days
Weighted- Average Contractual Term (years), exercisable	1 year 3 months 18 days
Aggregate Intrinsic Value, exercised | $	$ 69,548
Aggregate Intrinsic Value, outstanding | $	664,154
Aggregate Intrinsic Value, exercisable | $	$ 664,154

Equity-Based Compensation Pla40

Equity-Based Compensation Plans (Schedule of Outstanding Restricted Stock) (Details) - Long-Term Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Number of Units:
Nonvested, beginning | shares	91,790
Granted during the period | shares	15,344
Vested during the period | shares	(2,282)
Forfeited or expired during the period | shares	(4,496)
Nonvested, ending | shares	100,356
Weighted-Average Grant Date Fair Value:
Nonvested, beginning | $ / shares	$ 18.65
Granted during the period | $ / shares	30.03
Vested during the period | $ / shares	18.27
Forfeited or expired during the period | $ / shares	19.32
Nonvested, ending | $ / shares	$ 20.37

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive securities	0	50,000

Earnings Per Common Share (Reco

Earnings Per Common Share (Reconciliation Of Numerators And Denominators ) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic EPS
Net income available to common shareholders	$ 7,555	$ 6,779
Shares (denominator)	21,983,963	19,783,747
Basic EPS	$ 0.34	$ 0.34
Effect of Dilutive Securities Income (numerator)		$ 58
Effect of Dilutive Securities Shares (denominator)	80,960	770,111
Diluted EPS per common share
Income (numerator)	$ 7,555	$ 6,837
Shares (denominator)	22,064,923	20,553,858
Diluted EPS per common share	$ 0.34	$ 0.33

Securities (Narrative) (Details

Securities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Securities [Abstract]
Investment securities, pledged as collateral for public deposits	$ 193,673		$ 147,009
Proceeds from sales of securities	46,618	$ 8
Net realized gains of investment securities	(235)	$ 3
Federal Home Loan Bank stock and Federal Reserve Bank stock, cost	23,694		19,826
Federal Home Loan Bank Stock, cost	14,043		12,588
Federal Reserve Bank, cost	$ 9,651		$ 7,238

Securities (Summary of Book Val

Securities (Summary of Book Values and Fair Values of Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Securities available for sale:
Amortized Cost	$ 216,480	$ 202,414
Fair Value	214,743	199,329	$ 247,140
Unrealized Gains	514	342
Unrealized (Losses)	(2,251)	(3,427)
Securities held to maturity:
Amortized Cost	133,254	129,713	148,485
Fair Value	134,185	130,195	$ 151,684
Unrealized Gains	1,897	1,815
Unrealized (Losses)	(966)	(1,333)
Government-sponsored enterprise securities [Member]
Securities available for sale:
Amortized Cost	19,498	17,497
Fair Value	19,426	17,490
Unrealized Gains	8
Unrealized (Losses)	(80)	(7)
Mortgage-backed securities [Member]
Securities available for sale:
Amortized Cost	162,660	151,001
Fair Value	160,786	148,065
Unrealized Gains	220	155
Unrealized (Losses)	(2,094)	(3,091)
Securities held to maturity:
Amortized Cost	76,201	80,585
Fair Value	75,264	79,283
Unrealized Gains
Unrealized (Losses)	(937)	(1,302)
Corporate bonds [Member]
Securities available for sale:
Amortized Cost	34,322	33,833
Fair Value	34,531	33,600
Unrealized Gains	286	91
Unrealized (Losses)	(77)	(324)
Equity securities [Member]
Securities available for sale:
Amortized Cost		83
Fair Value		174
Unrealized Gains		96
Unrealized (Losses)		(5)
State and local governments [Member]
Securities held to maturity:
Amortized Cost	57,053	49,128
Fair Value	58,921	50,912
Unrealized Gains	1,897	1,815
Unrealized (Losses)	$ (29)	$ (31)

Securities (Schedule of Informa

Securities (Schedule of Information Regarding Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Securities in an Unrealized Loss Position for Less than 12 Months
Total temporarily impaired securities Fair Value	$ 196,029	$ 232,817
Total temporarily impaired securities Unrealized Losses	2,639	4,138
Securities in an Unrealized Loss Position for More than 12 Months
Total temporarily impaired securities Fair Value	18,802	19,943
Total temporarily impaired securities Unrealized Losses	578	622
Total temporarily impaired securities Fair Value	214,831	252,760
Total temporarily impaired securities Unrealized Losses	3,217	4,760
Government-sponsored enterprise securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	13,917	7,990
AFS Unrealized Losses	80	7
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value
AFS Unrealized Losses
Total AFS Fair Value	13,917	7,990
Total AFS Unrealized Losses	80	7
Mortgage-backed securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	167,034	196,999
AFS Unrealized Losses	2,513	3,841
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	17,862	19,001
AFS Unrealized Losses	518	552
Total AFS Fair Value	184,896	216,000
Total AFS Unrealized Losses	3,031	4,393
Corporate bonds [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	8,021	27,027
AFS Unrealized Losses	17	259
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	940	935
AFS Unrealized Losses	60	65
Total AFS Fair Value	8,961	27,962
Total AFS Unrealized Losses	77	324
Equity securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value
AFS Unrealized Losses
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value		7
AFS Unrealized Losses		5
Total AFS Fair Value		7
Total AFS Unrealized Losses		5
State and local governments [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	7,057	801
AFS Unrealized Losses	29	31
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value
AFS Unrealized Losses
Total AFS Fair Value	7,057	801
Total AFS Unrealized Losses	$ 29	$ 31

Securities (Schedule of Book Va

Securities (Schedule of Book Values and Fair Values of Investment Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Securities Available for Sale - Amortized Cost
Due within one year
Due after one year but within five years	19,498
Due after five years but within ten years	29,322
Due after ten years	5,000
Mortgage-backed securities	162,660
Total debt securities	216,480
Equity securities
Total securities	216,480	$ 202,414
Securities Available for Sale - Fair Value
Due within one year
Due after one year but within five years	19,426
Due after five years but within ten years	29,411
Due after ten years	5,120
Mortgage-backed securities	160,786
Total debt securities	214,743
Equity securities
Total securities	214,743	199,329	$ 247,140
Securities Held to Maturity - Amortized Cost
Due within one year	2,123
Due after one year but within five years	21,815
Due after five years but within ten years	27,398
Due after ten years	5,717
Mortgage-backed securities	76,201
Total debt securities	133,254	129,713	148,485
Total securities	133,254
Securities Held to Maturity - Fair Value
Due within one year	2,144
Due after one year but within five years	22,527
Due after five years but within ten years	28,600
Due after ten years	5,650
Mortgage-backed securities	75,264
Total debt securities	134,185
Securities held to maturity	$ 134,185	$ 130,195	$ 151,684

Loans and Asset Quality Infor47

Loans and Asset Quality Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Mar. 03, 2017
Accretion of loan discount			$ 1,908
Recorded loans with a fair value				$ 497,400
Remaining accretable yield associated with PCI loans	$ 3,500	$ 0
Accretable Yield recognized	85	0
Accretion of loan discount resolved	443
Additional loan interest income resolved	295
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Nonaccrual loans in process of foreclosure	1,600		$ 1,700
Carolina Bank Holdings, Inc. [Member]
Recorded loans with a fair value				19,300
Purchased Impaired Loans [Member]
Accretion of loan discount		39
Payments that exceeded the initial carrying amount on purchased impaired loans		46
Additional loan interest income		$ 7
Recorded loans with a fair value				$ 19,300
Remaning discount	402
Purchased Impaired Loans [Member] | Carolina Bank Holdings, Inc. [Member]
Recorded loans with a fair value	1,700
Non-Covered Purchased Nonimpaired Loans [Member]
Accretion of loan discount	1,360
Remaining loan discount for non-covered purchased accruing loans	$ 18,410

Loans and Asset Quality Infor48

Loans and Asset Quality Information (Summary of the contractually required payments) (Details) - Carolina Bank [Member]	Mar. 03, 2017USD ($)
Purchased credit impaired [Member]
Contractually required payments	$ 27,108
Nonaccretable difference	(4,237)
Cash flows expected to be collected at acquisition	22,871
Accretable yield	(3,617)
Fair value of PCI loans at acquisition date	19,254
Purchased Non impaired [Member]
Contractually required payments	569,980
Fair value of PCI loans at acquisition date	478,122
Contractual cash flows not expected to be collected	$ 3,650

Loans and Asset Quality Infor49

Loans and Asset Quality Information (Summary of Major Categories of Total Loans Outstanding) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
All loans (non-covered and covered):
Amount of loans	$ 3,290,059	$ 2,710,761	$ 2,538,095
Percentage of Loans	100.00%	100.00%	100.00%
Unamortized net deferred loan costs	$ (704)	$ (49)	$ 1,258
Total loans	3,289,355	2,710,712	2,539,353
Commercial, financial, and agricultural [Member]
All loans (non-covered and covered):
Amount of loans	$ 363,219	$ 261,813	$ 228,124
Percentage of Loans	11.00%	9.00%	9.00%
Real estate - construction, land development & other land loans [Member]
All loans (non-covered and covered):
Amount of loans	$ 424,539	$ 750,679	$ 298,410
Percentage of Loans	13.00%	13.00%	12.00%
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
All loans (non-covered and covered):
Amount of loans	$ 792,791	$ 750,679	$ 757,696
Percentage of Loans	24.00%	28.00%	30.00%
Real estate - mortgage - home equity loans / lines of credit [Member]
All loans (non-covered and covered):
Amount of loans	$ 317,336	$ 239,105	$ 235,380
Percentage of Loans	10.00%	9.00%	9.00%
Real estate mortgage commercial and other [Member]
All loans (non-covered and covered):
Amount of loans	$ 1,335,924	$ 1,049,460	$ 955,550
Percentage of Loans	40.00%	39.00%	38.00%
Installment loans to individuals [Member]
All loans (non-covered and covered):
Amount of loans	$ 56,250	$ 55,037	$ 47,163
Percentage of Loans	2.00%	2.00%	2.00%

Loans and Asset Quality Infor50

Loans and Asset Quality Information (Summary of Major Categories of Non-Covered Loans Outstanding) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Non-covered and covered loans:
Non Covered Loans			$ 2,438,572
Unamortized net deferred loan costs	$ (704)	$ (49)	1,258
Loans - non-covered	$ 3,289,355	2,710,712	2,439,830
Total loans			99,523
Unamortized net deferred loan costs
Covered Loans			99,523
Total			2,538,095
Commercial, financial, and agricultural [Member]
Non-covered and covered loans:
Non Covered Loans			228,124
Covered Loans			743
Total			228,867
Real estate - construction, land development & other land loans [Member]
Non-covered and covered loans:
Non Covered Loans			298,410
Covered Loans			3,642
Total			302,052
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Non-covered and covered loans:
Non Covered Loans			684,085
Covered Loans			73,611
Total			757,696
Real estate - mortgage - home equity loans / lines of credit [Member]
Non-covered and covered loans:
Non Covered Loans			225,245
Covered Loans			10,135
Total			235,380
Real estate mortgage commercial and other [Member]
Non-covered and covered loans:
Non Covered Loans			955,550
Covered Loans			11,387
Total			966,937
Installment loans to individuals [Member]
Non-covered and covered loans:
Non Covered Loans			47,158
Covered Loans			5
Total			$ 47,163

Loans and Asset Quality Infor51

Loans and Asset Quality Information (Schedule of Carrying Amount of Covered Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Covered loans:
Impaired Purchased Loans - Carrying Value		$ 1,167
Impaired Purchased Loans - Unpaid Principal Balance		2,883
Nonimpaired Purchased Loans - Carrying Value		98,356
Nonimpaired Purchased Loans - Unpaid Principal Balance		112,750
Total Covered Loans - Carrying Value		99,523
Total Covered Loans - Unpaid Principal Balance		115,633
Commercial, financial, and agricultural [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value
Impaired Purchased Loans - Unpaid Principal Balance
Nonimpaired Purchased Loans - Carrying Value		743
Nonimpaired Purchased Loans - Unpaid Principal Balance		748
Total Covered Loans - Carrying Value		743
Total Covered Loans - Unpaid Principal Balance		748
Real estate - construction, land development & other land loans [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value		207
Impaired Purchased Loans - Unpaid Principal Balance		332
Nonimpaired Purchased Loans - Carrying Value		3,435
Nonimpaired Purchased Loans - Unpaid Principal Balance		3,384
Total Covered Loans - Carrying Value		3,642
Total Covered Loans - Unpaid Principal Balance		3,716
Real estate mortgage residential (1-4 family) first mortgages [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value		80
Impaired Purchased Loans - Unpaid Principal Balance		564
Nonimpaired Purchased Loans - Carrying Value		73,531
Nonimpaired Purchased Loans - Unpaid Principal Balance		85,962
Total Covered Loans - Carrying Value		73,611
Total Covered Loans - Unpaid Principal Balance		86,526
Real estate mortgage home equity loans / lines of credit [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value		7
Impaired Purchased Loans - Unpaid Principal Balance		14
Nonimpaired Purchased Loans - Carrying Value		10,128
Nonimpaired Purchased Loans - Unpaid Principal Balance		11,516
Total Covered Loans - Carrying Value		10,135
Total Covered Loans - Unpaid Principal Balance		11,530
Real estate mortgage commercial and other [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value		873
Impaired Purchased Loans - Unpaid Principal Balance		1,973
Nonimpaired Purchased Loans - Carrying Value		10,514
Nonimpaired Purchased Loans - Unpaid Principal Balance		11,105
Total Covered Loans - Carrying Value		11,387
Total Covered Loans - Unpaid Principal Balance		13,078
Installment loans to individuals [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value
Impaired Purchased Loans - Unpaid Principal Balance
Nonimpaired Purchased Loans - Carrying Value		5
Nonimpaired Purchased Loans - Unpaid Principal Balance		35
Total Covered Loans - Carrying Value		5
Total Covered Loans - Unpaid Principal Balance		$ 35

Loans and Asset Quality Infor52

Loans and Asset Quality Information (Schedule of Covered Purchased Nonimpaired Loans) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Covered purchased nonimpaired loans:
Carrying amount of nonimpaired covered loans, beginning balance	$ 101,252
Principal repayments	(7,997)
Transfers to foreclosed real estate	(1,036)
Transfers to non-covered loans due to expiration of loss-share agreement
Net loan recoveries	1,784
Accretion of loan discount	1,908
Transfer to non-covered loans due to expiration of loss-share agreement, April 1, 2016	(17,530)
Transfer to non-covered loans due to termination of loss-share agreements, July 1, 2016	(78,381)
Carrying amount of nonimpaired covered loans, ending balance

Loans and Asset Quality Infor53

Loans and Asset Quality Information (Schedule of Applied Cost Recovery Method of Purchased Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Purchased impaired loans
Balance, beginning, carrying value	$ 514	$ 1,970
Change due to payments received	(126)	(1,386)
Change due to loan charge-off		(70)
Transfer to foreclosed real estate	(69)
Additions due to acquisition of Carolina Bank	19,254
Accretion	85
Other	7
Balance, ending, carrying value		514
Balance, Ending	19,665
Accretable Yield [Member]
Purchased impaired loans
Balance, beginning, Acrretable Yield
Change due to payments received
Transfer to foreclosed real estate
Additions due to acquisition of Carolina Bank	3,617
Accretion	(85)
Other
Balance, Ending	$ 3,532

Loans and Asset Quality Infor54

Loans and Asset Quality Information (Summary of Nonperforming Assets) (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Nonperforming assets:
Nonaccrual loans		$ 25,684	$ 27,468	$ 41,411
Restructured loans - accruing		21,559	22,138	30,514
Accruing loans > 90 days past due
Total nonperforming loans		47,243	49,606	71,925
Foreclosed real estate		12,789	9,532	10,336
Total nonperforming assets		60,032	59,138	82,261
Total covered nonperforming assets included above	[1]			10,698
Purchased credit impaired loans not included above	[2]	$ 19,167
[1]	All FDIC loss share agreements were terminated effective September 22, 2016 and, accordingly, assets previously covered under those agreements become non-covered on that date.
[2]	In the March 3, 2017 acquisition of Carolina Bank Holdings, Inc., the Company acquired $19.3 million in purchased credit impaired loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $1.7 million in purchased credit impaired loans at March 31, 2017 that are contractually past due 90 days or more.

Loans and Asset Quality Infor55

Loans and Asset Quality Information (Schedule of Nonaccrual Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Company's nonaccrual loans:
Nonaccrual loans	$ 25,684	$ 27,468	$ 41,411
Commercial, financial, and agricultural [Member]
Company's nonaccrual loans:
Nonaccrual loans	1,368	1,842
Real estate construction, land development & other land loans [Member]
Company's nonaccrual loans:
Nonaccrual loans	1,607	2,945
Real estate mortgage residential (1-4 family) first mortgages [Member]
Company's nonaccrual loans:
Nonaccrual loans	15,833	16,017
Real estate mortgage home equity loans / lines of credit [Member]
Company's nonaccrual loans:
Nonaccrual loans	2,238	2,355
Real estate mortgage commercial and other [Member]
Company's nonaccrual loans:
Nonaccrual loans	4,577	4,208
Installment loans to individuals [Member]
Company's nonaccrual loans:
Nonaccrual loans	$ 61	$ 101

Loans and Asset Quality Infor56

Loans and Asset Quality Information (Schedule of Analysis of Payment Status of Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Analysis of the payment status of loans
Nonaccrual loans	$ 25,684	$ 27,468	$ 41,411
Current
Total loans	3,289,355	2,710,712	2,439,830
Unamortized net deferred loan costs	(704)	(49)	1,258
Total loans	3,289,355	2,710,712	$ 2,539,353
Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,368	1,842
Real estate construction, land development & other land loans [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,607	2,945
Real estate mortgage residential (1-4 family) first mortgages [Member]
Analysis of the payment status of loans
Nonaccrual loans	15,833	16,017
Real estate mortgage home equity loans / lines of credit [Member]
Analysis of the payment status of loans
Nonaccrual loans	2,238	2,355
Real estate mortgage commercial and other [Member]
Analysis of the payment status of loans
Nonaccrual loans	4,577	4,208
Installment loans to individuals [Member]
Analysis of the payment status of loans
Nonaccrual loans	61	101
All Total Loans [Member]
Analysis of the payment status of loans
Nonaccrual loans	25,684	27,468
Current	3,243,085	2,673,391
Total loans	3,290,059	2,710,761
Total loans		2,710,712
All Total Loans [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	17,846	8,471
All Total Loans [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	1,700	1,431
All Total Loans [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due	1,744
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,368	1,842
Current	360,633	259,879
Total loans	362,936	261,813
Total loans
All Total Loans [Member] | Commercial, financial, and agricultural [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	519	92
All Total Loans [Member] | Commercial, financial, and agricultural [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	416
All Total Loans [Member] | Commercial, financial, and agricultural [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due
All Total Loans [Member] | Real estate construction, land development & other land loans [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,607	2,945
Current	421,003	351,081
Total loans	424,085	354,667
Total loans
All Total Loans [Member] | Real estate construction, land development & other land loans [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	1,309	473
All Total Loans [Member] | Real estate construction, land development & other land loans [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	166	168
All Total Loans [Member] | Real estate construction, land development & other land loans [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due
All Total Loans [Member] | Real estate mortgage residential (1-4 family) first mortgages [Member]
Analysis of the payment status of loans
Nonaccrual loans	15,833	16,017
Current	760,896	729,732
Total loans	789,114	750,679
Total loans
All Total Loans [Member] | Real estate mortgage residential (1-4 family) first mortgages [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	11,794	4,487
All Total Loans [Member] | Real estate mortgage residential (1-4 family) first mortgages [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	591	443
All Total Loans [Member] | Real estate mortgage residential (1-4 family) first mortgages [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due
All Total Loans [Member] | Real estate mortgage home equity loans / lines of credit [Member]
Analysis of the payment status of loans
Nonaccrual loans	2,238	2,355
Current	313,526	234,821
Total loans	316,593	239,105
Total loans
All Total Loans [Member] | Real estate mortgage home equity loans / lines of credit [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	586	1,751
All Total Loans [Member] | Real estate mortgage home equity loans / lines of credit [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	243	178
All Total Loans [Member] | Real estate mortgage home equity loans / lines of credit [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due
All Total Loans [Member] | Real estate mortgage commercial and other [Member]
Analysis of the payment status of loans
Nonaccrual loans	4,577	4,208
Current	1,313,638	1,043,321
Total loans	1,321,416	1,049,460
Total loans
All Total Loans [Member] | Real estate mortgage commercial and other [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	3,123	1,482
All Total Loans [Member] | Real estate mortgage commercial and other [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	78	449
All Total Loans [Member] | Real estate mortgage commercial and other [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due
All Total Loans [Member] | Installment loans to individuals [Member]
Analysis of the payment status of loans
Nonaccrual loans	61	101
Current	55,853	51,557
Total loans	56,250	55,037
Total loans
All Total Loans [Member] | Installment loans to individuals [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	192	186
All Total Loans [Member] | Installment loans to individuals [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	144	193
All Total Loans [Member] | Installment loans to individuals [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due
All Total Loans [Member] | Purchased credit impaired [Member]
Analysis of the payment status of loans
Nonaccrual loans
Current	17,536	514
Total loans	19,665	514
All Total Loans [Member] | Purchased credit impaired [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	323
All Total Loans [Member] | Purchased credit impaired [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	62
All Total Loans [Member] | Purchased credit impaired [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due	$ 1,744

Loans and Asset Quality Infor57

Loans and Asset Quality Information (Schedule of Activity in Allowance for Loan Losses for Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Beginning balance	$ 23,781	$ 28,583	$ 28,583
Charge-offs	(2,205)	(4,104)	(10,414)
Recoveries	1,247	1,911	6,685
Transfers from covered category
Removed due to branch loan sale			(1,050)
Provisions	723	258	(23)
Ending balance	23,546	26,648	23,781
Ending balances: Allowance for loan losses
Individually evaluated for impairment	2,054	2,720	1,640
Collectively evaluated for impairment	21,492	23,928	22,141
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total	3,290,059	2,538,095	2,710,761
Unamortized net deferred loan costs	(704)	1,258	(49)
Total non-covered loans	3,289,355	2,439,830	2,710,712
Ending balances: Loans
Individually evaluated for impairment	31,295	46,559	32,226
Collectively evaluated for impairment	3,239,099	2,489,804	2,678,021
Loans acquired with deteriorated credit quality	19,665	1,732	514
Covered [Member]
Beginning balance		1,799	1,799
Charge-offs		(241)	(244)
Recoveries		1,204	1,958
Transfers from covered category			(1,381)
Removed due to branch loan sale
Provisions		(1,363)	(2,132)
Ending balance		1,399
Ending balances: Allowance for loan losses
Individually evaluated for impairment		438
Collectively evaluated for impairment		961
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total		99,523
Unamortized net deferred loan costs
Total non-covered loans
Ending balances: Loans
Individually evaluated for impairment		5,105
Collectively evaluated for impairment		93,250
Loans acquired with deteriorated credit quality		1,168
Commercial, financial, and agricultural [Member]
Beginning balance	3,829	4,742	4,742
Charge-offs	(390)	(677)	(2,271)
Recoveries	298	86	805
Transfers from covered category			56
Removed due to branch loan sale			(263)
Provisions	55	528	760
Ending balance	3,792	4,679	3,829
Ending balances: Allowance for loan losses
Individually evaluated for impairment	205	43	7
Collectively evaluated for impairment	3,587	4,636	3,822
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total	363,219	228,124	261,813
Ending balances: Loans
Individually evaluated for impairment	504	818	644
Collectively evaluated for impairment	362,433	227,306	261,169
Loans acquired with deteriorated credit quality	282
Real estate - construction, land development & other land loans [Member]
Beginning balance	2,691	3,754	3,754
Charge-offs	(177)	(340)	(1,101)
Recoveries	490	90	1,422
Transfers from covered category			65
Removed due to branch loan sale			(39)
Provisions	(240)	(159)	(1,410)
Ending balance	2,764	3,345	2,691
Ending balances: Allowance for loan losses
Individually evaluated for impairment	180	214	184
Collectively evaluated for impairment	2,584	3,131	2,507
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total	424,539	298,410	750,679
Ending balances: Loans
Individually evaluated for impairment	3,445	4,735	4,001
Collectively evaluated for impairment	420,640	293,675	350,666
Loans acquired with deteriorated credit quality	454
Real estate mortgage residential (1-4 family) first mortgages [Member]
Beginning balance	7,704	7,832	7,832
Charge-offs	(894)	(1,951)	(3,815)
Recoveries	196	233	1,060
Transfers from covered category			839
Removed due to branch loan sale			(347)
Provisions	370	1,260	2,135
Ending balance	7,376	7,374	7,704
Ending balances: Allowance for loan losses
Individually evaluated for impairment	1,351	1,280	1,339
Collectively evaluated for impairment	6,025	6,094	6,365
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total	792,791	684,085	354,667
Ending balances: Loans
Individually evaluated for impairment	18,047	20,925	20,807
Collectively evaluated for impairment	771,067	663,160	729,872
Loans acquired with deteriorated credit quality	3,677
Real estate mortgage home equity loans / lines of credit [Member]
Beginning balance	2,420	2,893	2,893
Charge-offs	(231)	(449)	(969)
Recoveries	65	55	250
Transfers from covered category			293
Removed due to branch loan sale			(110)
Provisions	(116)	(232)	63
Ending balance	2,138	2,267	2,420
Ending balances: Allowance for loan losses
Individually evaluated for impairment	8	111	5
Collectively evaluated for impairment	2,130	2,156	2,415
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total	317,336	225,245	239,105
Ending balances: Loans
Individually evaluated for impairment	223	538	280
Collectively evaluated for impairment	316,370	224,707	238,825
Loans acquired with deteriorated credit quality	743
Real estate mortgage commercial and other [Member]
Beginning balance	5,098	5,816	5,816
Charge-offs	(326)	(166)	(1,005)
Recoveries	143	130	836
Transfers from covered category			127
Removed due to branch loan sale			(228)
Provisions	1,064	160	(448)
Ending balance	5,979	5,940	5,098
Ending balances: Allowance for loan losses
Individually evaluated for impairment	310	559	105
Collectively evaluated for impairment	5,669	5,381	4,993
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total	1,335,924	955,550	1,049,460
Ending balances: Loans
Individually evaluated for impairment	9,074	14,334	6,494
Collectively evaluated for impairment	1,312,341	940,652	1,042,452
Loans acquired with deteriorated credit quality	14,509	564	514
Installment loans to individuals [Member]
Beginning balance	1,145	1,051	1,051
Charge-offs	(187)	(280)	(1,008)
Recoveries	55	113	354
Transfers from covered category
Removed due to branch loan sale			(63)
Provisions	54	318	811
Ending balance	1,067	1,202	1,145
Ending balances: Allowance for loan losses
Individually evaluated for impairment		75
Collectively evaluated for impairment	1,067	1,127	1,145
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total	56,250	47,158	55,037
Ending balances: Loans
Individually evaluated for impairment	2	104
Collectively evaluated for impairment	56,248	47,054	55,037
Loans acquired with deteriorated credit quality
Unallocated [Member]
Beginning balance	894	696	696
Charge-offs			(1)
Recoveries
Transfers from covered category			1
Removed due to branch loan sale
Provisions	(464)	(254)	198
Ending balance	430	442	894
Ending balances: Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	430	442	894
Loans acquired with deteriorated credit quality
Loans receivable:
Ending balance - total
Ending balances: Loans
Individually evaluated for impairment
Collectively evaluated for impairment
Loans acquired with deteriorated credit quality

Loans and Asset Quality Infor58

Loans and Asset Quality Information (Schedule of Impaired Loans) (Details) - All Total Loans [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	$ 13,550	$ 19,075
Impaired loans with no related allowance - Unpaid Principal Balance	15,790	23,354
Impaired loans with no related allowance - Average Recorded Investment	16,056	24,318
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	17,745	13,665
Impaired loans with allowance - Unpaid Principal Balance	18,126	13,951
Impaired loans with related allowance - Related Allowance	2,054	1,640
Impaired loans with related allowance - Average Recorded Investment	15,705	19,645
Commercial, financial, and agricultural [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	230	593
Impaired loans with no related allowance - Unpaid Principal Balance	281	706
Impaired loans with no related allowance - Average Recorded Investment	412	816
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	274	51
Impaired loans with allowance - Unpaid Principal Balance	288	51
Impaired loans with related allowance - Related Allowance	205	7
Impaired loans with related allowance - Average Recorded Investment	163	202
Real estate - construction, land development & other land loans [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	2,716	3,221
Impaired loans with no related allowance - Unpaid Principal Balance	3,903	4,558
Impaired loans with no related allowance - Average Recorded Investment	2,969	3,641
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	729	780
Impaired loans with allowance - Unpaid Principal Balance	777	798
Impaired loans with related allowance - Related Allowance	180	184
Impaired loans with related allowance - Average Recorded Investment	754	844
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	6,954	10,035
Impaired loans with no related allowance - Unpaid Principal Balance	7,676	12,220
Impaired loans with no related allowance - Average Recorded Investment	8,495	11,008
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	11,093	10,772
Impaired loans with allowance - Unpaid Principal Balance	11,401	11,007
Impaired loans with related allowance - Related Allowance	1,351	1,339
Impaired loans with related allowance - Average Recorded Investment	10,933	13,314
Real estate - mortgage - home equity loans / lines of credit [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	59	114
Impaired loans with no related allowance - Unpaid Principal Balance	83	146
Impaired loans with no related allowance - Average Recorded Investment	86	139
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	164	166
Impaired loans with allowance - Unpaid Principal Balance	164	166
Impaired loans with related allowance - Related Allowance	8	5
Impaired loans with related allowance - Average Recorded Investment	165	324
Real estate mortgage commercial and other [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	3,589	5,112
Impaired loans with no related allowance - Unpaid Principal Balance	3,845	5,722
Impaired loans with no related allowance - Average Recorded Investment	4,093	8,713
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	5,485	1,896
Impaired loans with allowance - Unpaid Principal Balance	5,496	1,929
Impaired loans with related allowance - Related Allowance	310	105
Impaired loans with related allowance - Average Recorded Investment	3,690	4,912
Installment loans to individuals [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	2
Impaired loans with no related allowance - Unpaid Principal Balance	2	2
Impaired loans with no related allowance - Average Recorded Investment	1	1
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment
Impaired loans with allowance - Unpaid Principal Balance
Impaired loans with related allowance - Related Allowance
Impaired loans with related allowance - Average Recorded Investment		$ 49

Loans and Asset Quality Infor59

Loans and Asset Quality Information (Schedule of Recorded Investment in Loans by Credit Quality Indicators) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Recorded investment in loans by credit quality indicators:
Total	$ 3,290,059	$ 2,710,761
Unamortized net deferred loan costs	(704)	(49)	$ 1,258
Total loans	3,289,355	2,710,712	$ 2,539,353
Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	3,127,588	2,547,664
Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	66,676	64,558
Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	70,111	71,071
Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	25,684	27,468
All Total Loans [Member]
Recorded investment in loans by credit quality indicators:
Total		2,710,761
Unamortized net deferred loan costs		(49)
Total loans		2,710,712
Covered [Member]
Recorded investment in loans by credit quality indicators:
Total
Commercial, financial, and agricultural [Member]
Recorded investment in loans by credit quality indicators:
Total	362,937	261,813
Commercial, financial, and agricultural [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	350,286	247,451
Commercial, financial, and agricultural [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	9,366	10,560
Commercial, financial, and agricultural [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	1,917	1,960
Commercial, financial, and agricultural [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	1,368	1,842
Commercial, financial, and agricultural [Member] | All Total Loans [Member]
Recorded investment in loans by credit quality indicators:
Total loans
Real estate construction, land development & other land loans [Member]
Recorded investment in loans by credit quality indicators:
Total	424,085	354,667
Real estate construction, land development & other land loans [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	407,155	335,068
Real estate construction, land development & other land loans [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	7,759	8,762
Real estate construction, land development & other land loans [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	7,564	7,892
Real estate construction, land development & other land loans [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	1,607	2,945
Real estate construction, land development & other land loans [Member] | All Total Loans [Member]
Recorded investment in loans by credit quality indicators:
Total loans
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Recorded investment in loans by credit quality indicators:
Total	789,114	750,679
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	721,622	678,878
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	15,978	16,998
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	35,681	38,786
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	15,833	16,017
Real estate mortgage home equity loans / lines of credit [Member]
Recorded investment in loans by credit quality indicators:
Total	316,593	239,105
Real estate mortgage home equity loans / lines of credit [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	304,093	226,159
Real estate mortgage home equity loans / lines of credit [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	1,413	1,436
Real estate mortgage home equity loans / lines of credit [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	8,849	9,155
Real estate mortgage home equity loans / lines of credit [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	2,238	2,355
Real estate mortgage home equity loans / lines of credit [Member] | All Total Loans [Member]
Recorded investment in loans by credit quality indicators:
Total loans
Real estate mortgage commercial and other [Member]
Recorded investment in loans by credit quality indicators:
Total	1,321,415	1,048,946
Real estate mortgage commercial and other [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	1,281,368	1,005,687
Real estate mortgage commercial and other [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	23,748	26,032
Real estate mortgage commercial and other [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	11,722	13,019
Real estate mortgage commercial and other [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	4,577	4,208
Real estate mortgage commercial and other [Member] | All Total Loans [Member]
Recorded investment in loans by credit quality indicators:
Total loans
Installment loans to individuals [Member]
Recorded investment in loans by credit quality indicators:
Total	56,250	55,037
Installment loans to individuals [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	55,727	54,421
Installment loans to individuals [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	253	256
Installment loans to individuals [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	209	259
Installment loans to individuals [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	61	101
Purchased credit impaired [Member]
Recorded investment in loans by credit quality indicators:
Total	19,665	514
Purchased credit impaired [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	7,337
Purchased credit impaired [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	8,159	514
Purchased credit impaired [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	4,169
Purchased credit impaired [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total

Loans and Asset Quality Infor60

Loans and Asset Quality Information (Schedule of Information of Loans Modified in Troubled Debt Restructuring) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
All Total Loans [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs	2
TDRs arising during period Pre-Modification	$ 2,550
TDRs arising during period Post-Modification	$ 2,525
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
All Total Loans [Member] | Real estate - construction, land development & other land loans [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
All Total Loans [Member] | Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
All Total Loans [Member] | Real estate - mortgage - home equity loans / lines of credit [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
All Total Loans [Member] | Real estate mortgage commercial and other [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing	2
TDRs arising during period - Accruing Pre-Modification	$ 2,550
TDRs arising during period - Accruing Post-Modification	$ 2,525
Number of contracts, TDRs Nonaccrual
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
All Total Loans [Member] | Installment loans to individuals [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
Covered [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs
TDRs arising during period Pre-Modification
TDRs arising during period Post-Modification

Loans and Asset Quality Infor61

Loans and Asset Quality Information (Schedule of Accruing Restructured Loans Defaulted in Period) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
All Total Loans [Member]
Accruing restructured loans that defaulted in the period:
Number of Contracts - Subsequent Default	1	2
Subsequently defaulted - Recorded Investment	$ 626	$ 65
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Accruing restructured loans that defaulted in the period:
Number of Contracts - Subsequent Default		1
Subsequently defaulted - Recorded Investment		$ 44
All Total Loans [Member] | Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Accruing restructured loans that defaulted in the period:
Number of Contracts - Subsequent Default	1
Subsequently defaulted - Recorded Investment	$ 626
All Total Loans [Member] | Real estate mortgage commercial and other [Member]
Accruing restructured loans that defaulted in the period:
Number of Contracts - Subsequent Default		1
Subsequently defaulted - Recorded Investment		$ 21
Covered [Member]
Accruing restructured loans that defaulted in the period:
Number of Contracts - Subsequent Default		1
Subsequently defaulted - Recorded Investment		$ 44

Deferred Loan Costs (Details)

Deferred Loan Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Deferred Loan Costs [Abstract]
Net deferred loan costs	$ (704)	$ (49)	$ 1,258

FDIC Indemnification Asset (Sch

FDIC Indemnification Asset (Schedule of FDIC Indemnification Asset Components) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
FDIC indemnification asset components
Receivable (payable) related to loss claims incurred (recoveries), not yet received (paid), net			$ (1,143)
Receivable related to estimated future claims on loans			7,422
Receivable related to estimated future claims on foreclosed real estate			425
FDIC indemnification asset			$ 6,704	$ 8,439

FDIC Indemnification Asset (Rol

FDIC Indemnification Asset (Rollforward of the FDIC Indemnification Asset) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Rollforward of the FDIC indemnification asset
FDIC indemnification asset, beginning	$ 8,439
Decrease related to favorable changes in loss estimates	(1,230)
Increase related to reimbursable expenses	99
Cash paid (received)	356
Related to accretion of loan discount	(965)
Other	5
FDIC indemnification asset, ending	$ 6,704

Goodwill and Other Intangible65

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	Mar. 03, 2017	Jul. 15, 2016	May 04, 2016	Jan. 02, 2016	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Amortization expense of intangible assets					$ 576		$ 186
Goodwill acquired			$ 5,553	$ 1,693
Other amortizable intangible assets			940	92
Net increase in goodwill	$ 67,830	$ 1,961
Net increase in core deposit premiums	$ 8,790	$ 1,170
Servicing assets					195	$ 415
Additional amortization expense of servicing assets					$ 31
Customer Lists [Member]
Intangible assets acquired			$ 1,100	$ 591

Goodwill and Other Intangible66

Goodwill and Other Intangible Assets (Summary of the Gross Carrying Amount and Accumulated Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Amortizable intangible assets:
Customer lists	$ 2,369	$ 2,369	$ 1,269
Customer Lists Accumulated Amortization	806	746	572
Core deposit premiums	18,520	9,730	8,560
Core Deposit premiums accumulated amortization	8,580	8,143	7,506
Other	1,032	1,032	92
Other Accumulated Amortization	303	224	10
Gross Carrying Amount	21,921	13,131	9,921
Accumulated Amortization	9,689	9,113	8,088
SBA servicing asset	579	415
Unamortizable intangible assets:
Goodwill	$ 142,872	$ 75,042	$ 67,528

Goodwill and Other Intangible67

Goodwill and Other Intangible Assets (Schedule of the Estimated Amortization Expense) (Details) $ in Thousands	Mar. 31, 2017USD ($)
The estimated amortization expense for five succeeding years:
April 1 to December 31, 2017	$ 2,579
2,018	2,862
2,019	2,314
2,020	1,750
2,021	1,288
Thereafter	1,439
Total	$ 12,232

Pension Plans (Narrative) (Deta

Pension Plans (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Net periodic pension cost (income)	$ 162	$ 162

Pension Plans (Details)

Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Service cost	$ 27	$ 27
Interest cost	435	435
Expected return on plan assets	(675)	(675)
Amortization of transition obligation
Amortization of net (gain)/loss	51	51
Amortization of prior service cost
Net periodic pension (income)/cost	(162)	(162)
Pension Plan [Member]
Service cost
Interest cost	375	376
Expected return on plan assets	(675)	(675)
Amortization of transition obligation
Amortization of net (gain)/loss	60	60
Amortization of prior service cost
Net periodic pension (income)/cost	(240)	(239)
SERP [Member]
Service cost	27	27
Interest cost	60	59
Expected return on plan assets
Amortization of transition obligation
Amortization of net (gain)/loss	(9)	(9)
Amortization of prior service cost
Net periodic pension (income)/cost	$ 78	$ 77

Comprehensive Income (Schedule

Comprehensive Income (Schedule of Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
The components of accumulated other comprehensive income (loss):
Total accumulated other comprehensive income (loss)	$ (4,222)	$ (5,107)	$ (3,023)	$ (3,550)
Unrealized gain (loss) on securities available for sale [Member]
The components of accumulated other comprehensive income (loss):
Total accumulated other comprehensive income (loss)	(1,737)	(3,085)	(349)
Deferred tax asset (liability)	644	1,138	136
Total accumulated other comprehensive income (loss)	(1,093)	(1,947)	(213)	(709)
Additional pension asset (liability) [Member]
The components of accumulated other comprehensive income (loss):
Total accumulated other comprehensive income (loss)	(4,961)	(5,012)	(4,606)
Deferred tax asset (liability)	1,832	1,852	1,796
Total accumulated other comprehensive income (loss)	$ (3,129)	$ (3,160)	$ (2,810)	$ (2,841)

Comprehensive Income (Schedul71

Comprehensive Income (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated other comprehensive income (loss), beginning balance	$ (5,107)	$ (3,550)
Other comprehensive income (loss) before reclassifications	706	498
Amounts reclassified from accumulated other comprehensive income	179	29
Net current-period other comprehensive income (loss)	885	527
Accumulated other comprehensive income (loss), ending balance	(4,222)	(3,023)
Unrealized gain (loss) on securities available for sale [Member]
Accumulated other comprehensive income (loss), beginning balance	(1,947)	(709)
Other comprehensive income (loss) before reclassifications	706	498
Amounts reclassified from accumulated other comprehensive income	148	(2)
Net current-period other comprehensive income (loss)	854	496
Accumulated other comprehensive income (loss), ending balance	(1,093)	(213)
Additional pension asset (liability) [Member]
Accumulated other comprehensive income (loss), beginning balance	(3,160)	(2,841)
Other comprehensive income (loss) before reclassifications
Amounts reclassified from accumulated other comprehensive income	31	31
Net current-period other comprehensive income (loss)	31	31
Accumulated other comprehensive income (loss), ending balance	$ (3,129)	$ (2,810)

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value [Abstract]
Increase in fair value of securities available for sale	$ 1,120	$ 817
Tax expense of increase in fair value of securities available for sale	$ 414	$ 319

Fair Value (Financial instrumen

Fair Value (Financial instruments Measured at Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Securities available for sale:
Total available for sale securities	$ 214,743	$ 199,329	$ 247,140
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member]
Securities available for sale:
Total available for sale securities	214,743	199,329
Recurring [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Securities available for sale:
Government-sponsored enterprise securities
Mortgage-backed securities
Corporate bonds
Equity securities
Total available for sale securities
Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Securities available for sale:
Government-sponsored enterprise securities	19,426	17,490
Mortgage-backed securities	160,786	148,065
Corporate bonds	34,531	33,600
Equity securities		174
Total available for sale securities	214,743	199,329
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Securities available for sale:
Government-sponsored enterprise securities
Mortgage-backed securities
Corporate bonds
Equity securities
Total available for sale securities
Recurring [Member] | Fair Value [Member]
Securities available for sale:
Government-sponsored enterprise securities	19,426	17,490
Mortgage-backed securities	160,786	148,065
Corporate bonds	34,531	33,600
Equity securities		174
Total available for sale securities	214,743	199,329
Nonrecurring [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Impaired loans and foreclosed real estate:
Impaired loans
Foreclosed real estate
Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Impaired loans and foreclosed real estate:
Impaired loans
Foreclosed real estate
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Impaired loans and foreclosed real estate:
Impaired loans	15,797	12,284
Foreclosed real estate	12,789	9,532
Nonrecurring [Member] | Fair Value [Member]
Impaired loans and foreclosed real estate:
Impaired loans	15,797	12,284
Foreclosed real estate	$ 12,789	$ 9,532

Fair Value (Level 3 assets and

Fair Value (Level 3 assets and liabilities measured at fair value) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Impaired loans	$ 15,797	$ 12,284
Foreclosed real estate	$ 12,789	$ 9,532
Impaired Loans [Member]
Valuation technique	Appraised value; PV of expected cash flows	Appraised value; PV of expected cash flows
Significant unobservable inputs	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell
General range of significant input values, minimum	0.00%	0.00%
General range of significant input values, maximum	10.00%	10.00%
Foreclosed Real Estate [Member]
Valuation technique	Appraised value; List or contract price	Appraised value; List or contract price
Significant unobservable inputs	Discounts to reflect current market conditions and estimated costs to sell	Discounts to reflect current market conditions and estimated costs to sell
General range of significant input values, minimum	0.00%	0.00%
General range of significant input values, maximum	10.00%	10.00%

Fair Value (Schedule of Carryin

Fair Value (Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	$ 81,514	$ 71,645	$ 52,393
Due from banks, interest-bearing	323,646	234,348	148,734
Securities available for sale	214,743	199,329	247,140
Securities held-to-maturity	133,254	129,713	148,485
Total loans, net of allowance	3,265,809	2,686,931	2,512,705
Accrued interest receivable	10,524	9,286	8,986
FDIC Indemnification Asset			6,704	$ 8,439
Bank-owned life insurance	86,923	74,138	72,594
Servicing asset on SBA loans	579	415
Accrued interest payable	691	539	$ 554
Carrying Amount [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	81,514	71,645
Due from banks, interest-bearing	323,646	234,348
Presold mortgages in process of settlement	11,661	2,116
Accrued interest receivable	10,524	9,286
Bank-owned life insurance	86,923	74,138
Carrying Amount [Member] | Fair Value, Inputs, Level 2 [Member]
Carrying amounts and estimated fair values of financial instruments:
Securities available for sale	214,743	199,329
Securities held-to-maturity	133,254	129,713
Deposits	3,629,170	2,947,353
Borrowings	290,403	271,394
Accrued interest payable	691	539
Carrying Amount [Member] | Significant Unobservable Inputs (Level 3) [Member]
Carrying amounts and estimated fair values of financial instruments:
Total loans, net of allowance	3,265,809	2,686,931
Fair Value [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	81,514	71,645
Due from banks, interest-bearing	323,646	234,348
Presold mortgages in process of settlement	11,661	2,116
Accrued interest receivable	10,524	9,286
Bank-owned life insurance	86,923	74,138
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member]
Carrying amounts and estimated fair values of financial instruments:
Securities available for sale	214,743	199,329
Securities held-to-maturity	134,185	130,195
Deposits	3,627,052	2,944,968
Borrowings	280,182	263,255
Accrued interest payable	691	539
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Carrying amounts and estimated fair values of financial instruments:
Total loans, net of allowance	$ 3,225,919	$ 2,650,820

Shareholders' Equity Transact76

Shareholders' Equity Transactions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 21, 2012	Dec. 22, 2016	Mar. 31, 2017	Mar. 31, 2016
Preferred stock dividends				$ 58
Common Stock [Member]
Stock issued, shares	2,656,294
Series C Preferred Stock [Member]
Stock issued, shares	728,706
Stock sold price per share	$ 10
Preferred stock dividends				$ 58
Number of shares exchanged		728,706
Series C Preferred Stock [Member] | Common Stock [Member]
Net proceeds from the sale of preferred and common stock	$ 33,800

Subsequent Event - Entry Into77

Subsequent Event - Entry Into an Acquisition Agreement (Details) $ / shares in Units, $ in Thousands	May 01, 2017USD ($)$ / sharesshares	Mar. 31, 2017USD ($)	Apr. 28, 2017$ / shares	Mar. 03, 2017$ / shares
Closing stock price | $ / shares				$ 30.13
Asheville Savings Bank [Member]
Banking location		13
Assets		$ 803,000
Gross loan		606,000
Deposits		$ 682,000
Subsequent Event [Member] | Asheville Savings Bank [Member]
Cash and Stock transaction value	$ 175,000
Closing stock price | $ / shares			$ 43.12
Subsequent Event [Member] | Asheville Savings Bank [Member] | First Bancorp Plans [Member]
Shareholders received shares per share | shares	1.44
Shareholders received cash per share | $ / shares	$ 41.90
Percentage of total outstanding shares	90.00%
Maximum Number of shares exchange	10.00%
Maximum Number of shares exchange not be exceed	19.90%