First Bancorp (FBNC) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 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	Jun. 30, 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		24,678,295
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
ASSETS
Cash and due from banks, noninterest-bearing	$ 80,234	$ 71,645	$ 58,956
Due from banks, interest-bearing	337,326	234,348	189,404
Federal funds sold			143
Total cash and cash equivalents	417,560	305,993	248,503
Securities available for sale	207,496	199,329	219,762
Securities held to maturity (fair values of $129,697, $130,195, and $146,099)	127,866	129,713	142,073
Presold mortgages in process of settlement	13,071	2,116	4,104
Loans - non-covered	3,375,976	2,710,712	2,598,134
Loans - covered by FDIC loss share agreement			78,387
Total loans	3,375,976	2,710,712	2,598,134
Allowance for loan losses	(24,025)	(23,781)	(26,023)
Net loans	3,351,951	2,686,931	2,572,111
Premises and equipment	96,605	75,351	76,991
Accrued interest receivable	10,830	9,286	9,152
FDIC indemnification asset			5,157
Goodwill	139,124	75,042	73,541
Other intangible assets	12,132	4,433	3,612
Foreclosed real estate	11,196	9,532	10,606
Bank-owned life insurance	87,501	74,138	73,098
Other assets	53,288	42,998	27,836
Total assets	4,528,620	3,614,862	3,466,546
LIABILITIES
Deposits: Noninterest bearing checking accounts	990,004	756,003	709,887
Interest bearing checking accounts	728,973	635,431	636,316
Money market accounts	782,963	685,331	639,849
Savings accounts	411,814	209,074	197,445
Time deposits of $100,000 or more	479,839	422,687	412,564
Other time deposits	250,737	238,827	275,959
Total deposits	3,644,330	2,947,353	2,872,020
Borrowings	355,405	271,394	206,394
Accrued interest payable	1,014	539	586
Other liabilities	27,220	27,475	25,932
Total liabilities	4,027,969	3,246,761	3,104,932
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	262,901	147,287	139,832
Retained earnings	240,682	225,921	216,223
Stock in rabbi trust assumed in acquisition	(4,257)
Rabbi trust obligation	4,257
Accumulated other comprehensive income (loss)	(2,932)	(5,107)	(1,728)
Total shareholders' equity	500,651	368,101	361,614
Total liabilities and shareholders' equity	4,528,620	3,614,862	3,466,546
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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Securities held to maturity fair values	$ 129,697	$ 130,195	$ 146,099
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	24,678,295	20,844,505	20,087,942
Common stock, shares outstanding	24,678,295	20,844,505	20,087,942
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
INTEREST INCOME
Interest and fees on loans	$ 39,656	$ 30,809	$ 73,359	$ 60,382
Interest on investment securities:
Taxable interest income	2,002	1,961	3,826	3,784
Tax-exempt interest income	427	432	870	877
Other, principally overnight investments	742	177	1,240	399
Total interest income	42,827	33,379	79,295	65,442
INTEREST EXPENSE
Savings, checking and money market accounts	685	409	1,207	803
Time deposits	874	622	1,588	1,274
Other time deposits	173	255	339	529
Borrowings	1,179	555	1,949	1,103
Total interest expense	2,911	1,841	5,083	3,709
Net interest income after provision (reversal) for loan losses	39,916	31,538	74,212	61,733
Provision for loan losses - non-covered		489	723	2,109
Provision (reversal) for loan losses - covered		(770)		(2,132)
Total provision (reversal) for loan losses		(281)	723	(23)
Net interest income after provision for loan losses	39,916	31,819	73,489	61,756
NONINTEREST INCOME
Service charges on deposit accounts	2,966	2,565	5,580	5,250
Other service charges, commissions and fees	3,554	3,043	6,727	5,873
Fees from presold mortgage loans	1,511	410	2,279	781
Commissions from sales of insurance and financial products	1,038	937	1,878	1,875
SBA consulting fees	1,050	720	2,310	720
SBA loan sale gains	927		1,549
Bank-owned life insurance income	580	504	1,088	1,012
Foreclosed property gains (losses), net	(248)	(133)	(223)	77
FDIC indemnification asset income (expense), net		(2,178)		(4,544)
Securities gains (losses), net			(235)	3
Other gains (losses), net	497	51	731	(126)
Total noninterest income	11,875	5,919	21,684	10,921
NONINTEREST EXPENSES
Salaries	16,299	12,560	30,249	24,035
Employee benefits expense	3,769	2,578	7,490	5,284
Total personnel expense	20,068	15,138	37,739	29,319
Net occupancy expense	2,358	1,843	4,542	3,786
Equipment related expenses	1,363	919	2,421	1,789
Merger and acquisition expenses	1,122	485	3,495	686
Intangibles amortization expense	1,031	261	1,607	447
Other operating expenses	9,142	7,501	17,352	14,893
Total noninterest expenses	35,084	26,147	67,156	50,920
Income before income taxes	16,707	11,591	28,017	21,757
Income tax expense	5,553	3,952	9,308	7,281
Net income	11,154	7,639	18,709	14,476
Preferred stock dividends		(59)		(117)
Net income available to common shareholders	$ 11,154	$ 7,580	$ 18,709	$ 14,359
Earnings per common share: Basic	$ 0.45	$ 0.38	$ 0.80	$ 0.72
Earnings per common share: Diluted	0.45	0.37	0.80	0.70
Dividends declared per common share	$ 0.08	$ 0.08	$ 0.16	$ 0.16
Weighted average common shares outstanding: Basic	24,593,307	19,921,413	23,288,635	19,852,580
Weighted average common shares outstanding: Diluted	24,671,550	20,693,644	23,368,503	20,627,012

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 11,154	$ 7,639	$ 18,709	$ 14,476
Unrealized gains (losses) on securities available for sale:
Unrealized holding gains (losses) arising during the period, pretax	1,989	2,071	3,102	2,888
Tax (expense) benefit	(737)	(807)	(1,144)	(1,126)
Reclassification to realized (gains) losses			235	(3)
Tax expense (benefit)			(87)	1
Postretirement Plans:
Amortization of unrecognized net actuarial (gain) loss	54	51	105	102
Tax expense (benefit)	(16)	(20)	(36)	(40)
Other comprehensive income (loss)	1,290	1,295	2,175	1,822
Comprehensive income	$ 12,444	$ 8,934	$ 20,884	$ 16,298

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			14,476				14,476
Cash dividends declared ($0.16 per common share)			(3,196)				(3,196)
Preferred dividends			(117)				(117)
Equity issued pursuant to acquisition		$ 5,509					5,509
Equity issued pursuant to acquisition, shares		279
Stock option exercises		$ 375					375
Stock option exercises, shares		23
Stock-based compensation		$ 555					555
Stock-based compensation, shares		38
Other comprehensive income (loss)						1,822	1,822
Ending balance at Jun. 30, 2016	7,287	$ 139,832	216,223			(1,728)	$ 361,614
Ending balance, shares at Jun. 30, 2016		20,088					20,087,942
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			18,709				$ 18,709
Cash dividends declared ($0.16 per common share)			(3,948)				(3,948)
Equity issued pursuant to acquisition		$ 114,478		(7,688)	7,688		114,478
Equity issued pursuant to acquisition, shares		3,799
Payment of deferred fees				3,431	(3,431)
Stock option exercises		$ 287					287
Stock option exercises, shares		16
Stock-based compensation		$ 849					849
Stock-based compensation, shares		18
Other comprehensive income (loss)						2,175	2,175
Ending balance at Jun. 30, 2017		$ 262,901	$ 240,682	$ (4,257)	$ 4,257	$ (2,932)	$ 500,651
Ending balance, shares at Jun. 30, 2017		24,678					24,678,295

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share	$ 0.08	$ 0.08	$ 0.16	$ 0.16

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Cash Flows From Operating Activities
Net income	$ 11,154	$ 7,639	$ 18,709	$ 14,476
Reconciliation of net income to net cash provided by operating activities:
Provision (reversal) for loan losses		(281)	723	(23)	$ (23)
Net security premium amortization			1,470	1,523
Loan discount accretion			(3,328)	(2,731)
Purchase accounting accretion and amortization, net			(122)	4,020
Foreclosed property losses and write-downs (gains), net			223	(77)
Loss (gain) on securities available for sale			235	(3)
Other losses (gains)			(731)	126
Decrease (increase) in net deferred loan costs			759	(201)
Depreciation of premises and equipment			2,708	2,244
Stock-based compensation expense			683	380
Amortization of intangible assets	1,031	261	1,607	447
Fees/gains from sale of presold mortgage and SBA loans			(3,828)	(781)
Origination of presold mortgages in process of settlement and SBA loans			(136,886)	(32,046)
Proceeds from sales of presold mortgages in process of settlement and SBA loans			130,246	33,081
Decrease (increase) in accrued interest receivable			(27)	14
Decrease in other assets			2,810	11,116
Increase in accrued interest payable			211	1
Decrease in other liabilities			(11,886)	(651)
Net cash provided by operating activities			3,576	30,915
Cash Flows From Investing Activities
Purchases of securities available for sale			(29,809)	(99,896)
Purchases of securities held to maturity			(291)
Proceeds from maturities/issuer calls of securities available for sale			15,497	47,846
Proceeds from maturities/issuer calls of securities held to maturity			13,683	11,796
Proceeds from sales of securities available for sale			45,601	8
Purchases of Federal Reserve and Federal Home Loan Bank stock, net			(6,527)	(988)
Net increase in loans			(162,197)	(82,723)
Payments related to FDIC loss share agreements				(738)
Proceeds from sales of foreclosed real estate			4,610	3,375
Purchases of premises and equipment			(2,135)	(3,695)
Proceeds from sales of premises and equipment				21
Net cash received (paid) in acquisition			56,185	(2,519)
Net cash used by investing activities			(65,383)	(127,513)
Cash Flows From Financing Activities
Net increase in deposits			111,756	60,735
Net increase in borrowings			64,973	20,000
Cash dividends paid - common stock			(3,642)	(3,160)
Cash dividends paid - preferred stock				(117)
Proceeds from stock option exercises	242	248	287	375
Net cash provided by financing activities			173,374	77,833
Increase (decrease) in cash and cash equivalents			111,567	(18,765)
Cash and cash equivalents, beginning of period			305,993	267,268	267,268
Cash and cash equivalents, end of period	$ 417,560	$ 248,503	417,560	248,503	$ 305,993
Supplemental Disclosures of Cash Flow Information:
Cash paid (received) during the period for interest			4,872	3,708
Cash paid (received) during the period for income taxes			8,570	(933)
Non-cash transactions:
Unrealized gain (loss) on securities available for sale, net of taxes			2,106	1,760
Foreclosed loans transferred to other real estate			$ 3,415	$ 3,910

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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 June 30, 2017 and 2016 and the consolidated results of operations and consolidated cash flows for the periods ended June 30, 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 June 30, 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	6 Months Ended
	Jun. 30, 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. In May 2017, the FASB amended the requirements in the Compensation—Stock Compensation Topic of the Accounting Standards Codification related to changes to the terms or conditions of a share-based payment award. The amendments provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The amendments will be effective for the Company for annual periods, and interim periods within those 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. 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	6 Months Ended
	Jun. 30, 2017
Reclassifications [Abstract]
Reclassifications	Note 3 – Reclassifications Certain amounts reported in the period ended June 30, 2016 have been reclassified to conform to the presentation for June 30, 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	6 Months Ended
	Jun. 30, 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 recorded an earn-out liability initially 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 originally recorded $5.6 million in goodwill, which was non-deductible for tax purposes, and $2.0 million in other amortizable intangible assets. In the second quarter of 2017, the Company recorded a measurement period adjustment to reduce the earn-out liability and goodwill by $1.2 million. (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 was 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 the 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 June 30, 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 $65.3 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ in thousands) As Initial Fair Measurement 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) 146 (l) 497,522 (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) 2,382 (m) 32,554 Total 683,852 5,536 2,528 691,916 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 74,455 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 $ 65,302 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. (l) This fair value adjustment was a miscellaneous adjustment to increase the initial fair value of gross loans. (m) This fair value adjustment relates to changes in the estimate of deferred tax assets/liabilities associated with the acquisition. 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 earnings - Pro Forma Pro Forma Net interest income $ 8,778 78,260 73,533 Noninterest income 1,871 22,874 16,479 Total revenue 10,649 101,134 90,012 Net income available to common shareholders 2,275 21,229 11,264 Earnings per common share Basic $ 0.86 0.48 Diluted 0.86 0.46 For purposes of the supplemental pro forma information, merger-related expenses of $3.2 million that are reflected in the Company’s consolidated statements of income for the six months ended June 30, 2017 and $4.6 million of merger-related expenses that were recorded by Carolina Bank in 2017 prior to the merger date were reflected in the pro forma presentation for 2016.

Equity-Based Compensation Plans

Equity-Based Compensation Plans	6 Months Ended
	Jun. 30, 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 $479,000 and $258,000 for the three months ended June 30, 2017 and 2016, respectively, and $657,000 and $380,000 for the six months ended June 30, 2017 and 2016, respectively. Of the $657,000 in expense that was recorded in 2017, approximately $320,000 related to the June 1, 2017 director grants, which is classified as “other operating expenses” in the Consolidated Statements of Income. The remaining $337,000 in expense relates to the employee grants discussed below and is recorded as “salaries expense.” 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 $243,000 and $148,000 of income tax benefits related to stock based compensation expense in the income statement for the six months ended June 30, 2017 and 2016, respectively. At June 30, 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 June 30, 2017, the First Bancorp 2014 Equity Plan was the only plan that had shares available for future grants, and there were 836,206 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. The Company typically grants shares of common stock to each non-employee director in June of each year. On June 1, 2017, the Company granted 11,190 shares of common stock to non-employee directors (1,119 shares per director), at a fair market value of $28.59 per share, which was the closing price of the Company’s common stock on that date, which resulted in $320,000 in expense. On June 1, 2016, the Company granted 6,584 shares of common stock to non-employee directors (823 shares per director), at a fair market value of $19.56 per share, which was the closing price of the Company’s common stock on that date, which resulted in $129,000 in expense. 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 $758,000 and is being recognized over the respective vesting periods. The Company recorded $66,000 and $55,000 in compensation expense during the three months ended June 30, 2017 and 2016, respectively, and $151,000 and $111,000 for the six months ended June 30, 2017 and 2016, respectively, related to these grants and expects to record $66,000 in compensation expense during each remaining quarter of 2017. In the last three years, the Compensation Committee also granted 97,799 shares of stock to various employees of the Company to promote retention. The total value associated with these grants amounted to $1.8 million, which is being recorded as an expense over their three year vesting periods. For the three months ended June 30, 2017 and 2016, total compensation expense related to these grants was $89,000 and $69,000, respectively, and for the six months ended June 30, 2017 and 2016, total compensation expense was $186,000 and $139,000, respectively. The Company expects to record $82,000 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. The following table presents information regarding the activity for the first six 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 16,062 29.99 Vested during the period (2,282 ) 18.27 Forfeited or expired during the period (8,535 ) 18.34 Nonvested at June 30, 2017 97,035 $ 20.56 In years prior to 2009, stock options were a primary form of equity grant utilized by the Company. The stock options had a term of ten 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 June 30, 2017, there were 40,689 stock options outstanding related to the two First Bancorp plans, with exercise prices ranging from $14.35 to $16.81. The following table presents information regarding the activity for the first six 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 (19,259 ) 19.44 $ 193,844 Forfeited — — Expired — — Outstanding at June 30, 2017 40,689 $ 16.11 1.2 $ 618,483 Exercisable at June 30, 2017 40,689 $ 16.11 1.2 $ 618,483 During the three and six months ended June 30, 2017, the Company received $242,000 and $287,000, respectively, as a result of stock option exercises. During the three and six months ended June 30, 2016, the Company received $248,000 and $375,000, respectively, as a result of stock option exercises.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 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 June 30, 2017 2016 ($ in thousands except per share amounts) Income Shares Per Share Income Shares Per Share Basic EPS Net income available to $ 11,154 24,593,307 $ 0.45 $ 7,580 19,921,413 $ 0.38 Effect of Dilutive Securities — 78,243 59 772,231 Diluted EPS per common share $ 11,154 24,671,550 $ 0.45 $ 7,639 20,693,644 $ 0.37 For the Six Months Ended June 30, 2017 2016 ($ in thousands except per share amounts) Income Shares Per Share Income Shares Per Share Basic EPS Net income available to $ 18,709 23,288,635 $ 0.80 $ 14,359 19,852,580 $ 0.72 Effect of Dilutive Securities — 79,868 117 774,432 Diluted EPS per common share $ 18,709 23,368,503 $ 0.80 $ 14,476 20,627,012 $ 0.70 For both the three and six months ended June 30, 2017, there were no options that were antidilutive. For both the three and six months ended June 30, 2016, there were 16,250 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	6 Months Ended
	Jun. 30, 2017
Securities [Abstract]
Securities	Note 7 – Securities The book values and approximate fair values of investment securities at June 30, 2017 and December 31, 2016 are summarized as follows: June 30, 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 $ 16,498 16,498 7 (7 ) 17,497 17,490 — (7 ) Mortgage-backed securities 156,934 156,601 647 (980 ) 151,001 148,065 155 (3,091 ) Corporate bonds 33,812 34,397 650 (65 ) 33,833 33,600 91 (324 ) Equity securities — — — — 83 174 96 (5 ) Total available for sale $ 207,244 207,496 1,304 (1,052 ) 202,414 199,329 342 (3,427 ) Securities held to maturity: Mortgage-backed securities $ 72,257 72,005 10 (262 ) 80,585 79,283 — (1,302 ) State and local governments 55,609 57,692 2,090 (7 ) 49,128 50,912 1,815 (31 ) Total held to maturity $ 127,866 129,697 2,100 (269 ) 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 June 30, 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 $ 7,991 7 — — 7,991 7 Mortgage-backed securities 131,117 865 16,909 377 148,026 1,242 Corporate bonds — — 935 65 935 65 State and local governments 817 7 — — 817 7 Total temporarily impaired securities $ 139,925 879 17,844 442 157,769 1,321 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 Losses 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 June 30, 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 has 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 June 30, 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 $ — — 1,873 1,888 Due after one year but within five years 16,498 16,498 23,718 24,580 Due after five years but within ten years 28,812 29,287 24,251 25,405 Due after ten years 5,000 5,110 5,767 5,819 Mortgage-backed securities 156,934 156,601 72,257 72,005 Total securities $ 207,244 207,496 127,866 129,697 At June 30, 2017 and December 31, 2016 investment securities with carrying values of $183,529,000 and $147,009,000, respectively, were pledged as collateral for public deposits. In the first six months of 2017, the Company received proceeds from sales of securities of $45,601,000 and recorded losses of $235,000 from the sales. In the first half 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 $26,353,000 and $19,826,000 at June 30, 2017 and December 31, 2016, respectively. The FHLB stock had a cost and fair value of $16,702,000 and $12,588,000 at June 30, 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 June 30, 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	6 Months Ended
	Jun. 30, 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 $497.5 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 478,515 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) June 30, 2017 December 31, 2016 June 30, 2016 Amount Percentage Amount Percentage Amount Percentage All loans (non-covered and covered): Commercial, financial, and agricultural $ 383,834 11 % $ 261,813 9 % $ 244,862 9 % Real estate – construction, land development & other land loans 446,661 13 % 354,667 13 % 310,993 12 % Real estate – mortgage – residential (1-4 family) first mortgages 783,759 23 % 750,679 28 % 751,446 29 % Real estate – mortgage – home equity loans / lines of credit 320,953 10 % 239,105 9 % 238,794 9 % Real estate – mortgage – commercial and other 1,384,569 41 % 1,049,460 39 % 1,000,578 39 % Installment loans to individuals 57,008 2 % 55,037 2 % 50,387 2 % Subtotal 3,376,784 100 % 2,710,761 100 % 2,597,060 100 % Unamortized net deferred loan costs (fees) (808 ) (49 ) 1,074 Total loans $ 3,375,976 $ 2,710,712 $ 2,598,134 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 June 30, 2016. There were no covered loans at June 30, 2017 or December 31, 2016. ($ in thousands) June 30, 2016 Non-covered Covered Total Commercial, financial, and agricultural $ 244,862 — $ 244,862 Real estate – construction, land development & other land loans 310,832 161 310,993 Real estate – mortgage – residential (1-4 family) first mortgages 683,367 68,079 751,446 Real estate – mortgage – home equity loans / lines of credit 228,906 9,888 238,794 Real estate – mortgage – commercial and other 1,000,319 259 1,000,578 Installment loans to individuals 50,387 — 50,387 Subtotal 2,518,673 78,387 2,597,060 Unamortized net deferred loan costs 1,074 — 1,074 Total $ 2,519,747 78,387 $ 2,598,134 The following presents the carrying amount of the covered loans at June 30, 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 June 30, 2017 or December 31, 2016. ($ in thousands) Impaired Impaired Nonimpaired Nonimpaired Total Total Covered loans: Commercial, financial, and agricultural $ — — — — — — Real estate – construction, land development & other land loans — — 161 162 161 162 Real estate – mortgage – residential (1-4 family) first mortgages — 33 68,079 78,940 68,079 78,973 Real estate – mortgage – home equity loans / lines of credit 6 14 9,882 11,140 9,888 11,154 Real estate – mortgage – commercial and other — — 259 294 259 294 Installment loans to individuals — — — — — — Total $ 6 47 78,381 90,536 78,387 90,583 The following table presents information regarding covered purchased non-impaired loans since January 1, 2016. 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 January 1, 2016 $ 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 $ — The following table presents information regarding all PCI loans since January 1, 2016. ($ in thousands) Purchased Credit Impaired Loans Accretable Carrying Balance at January 1, 2016 $ — 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 (871 ) 871 Change due to payments received — (3,317 ) Transfer to foreclosed real estate — (69 ) Other — (407 ) Balance at June 30, 2017 $ 2,746 16,846 During the first six months of 2017, the Company received $564,000 in payments that exceeded the carrying amount of the related purchased credit impaired loans, of which $558,000 was recognized as loan discount accretion income and $6,000 was recorded as additional loan interest income. During the first six months of 2016, the Company received $1,108,000 in payments that exceeded the carrying amount of the related purchased credit impaired loans, of which $780,000 was recognized as loan discount accretion income, $295,000 was recorded as additional loan interest income, and $33,000 was recorded as a recovery. Nonperforming assets are defined as nonaccrual loans, restructured loans, loans past due 90 or more days and still accruing interest, nonperforming loans held for sale, and foreclosed real estate. Nonperforming assets are summarized as follows: ASSET QUALITY DATA ($ in thousands) June 30, December 31, June 30, 2016 Nonperforming assets Nonaccrual loans $ 22,795 27,468 37,975 Restructured loans - accruing 21,019 22,138 29,271 Accruing loans > 90 days past due — — — Total nonperforming loans 43,814 49,606 67,246 Foreclosed real estate 11,196 9,532 10,606 Total nonperforming assets $ 55,010 59,138 77,852 Total covered nonperforming assets included above (1) $ — — 8,024 Purchased credit impaired loans not included above (2) $ 16,846 — — (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 $0.4 million in purchased credit impaired loans at June 30, 2017 that are contractually past due 90 days or more. At June 30, 2017 and December 31, 2016, the Company had $1.1 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) June 30, December 31, Commercial, financial, and agricultural $ 1,027 1,842 Real estate – construction, land development & other land loans 1,007 2,945 Real estate – mortgage – residential (1-4 family) first mortgages 15,262 16,017 Real estate – mortgage – home equity loans / lines of credit 1,942 2,355 Real estate – mortgage – commercial and other 3,451 4,208 Installment loans to individuals 106 101 Total $ 22,795 27,468 The following table presents an analysis of the payment status of the Company’s loans as of June 30, 2017. ($ in thousands) Accruing Accruing Accruing Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 236 20 — 1,027 382,282 383,565 Real estate – construction, land development & other land loans 1,040 174 — 1,007 443,985 446,206 Real estate – mortgage – residential (1-4 family) first mortgages 2,847 2,784 — 15,262 759,414 780,307 Real estate – mortgage – home equity loans / lines of credit 1,018 54 — 1,942 317,214 320,228 Real estate – mortgage – commercial and other 1,094 72 — 3,451 1,368,065 1,372,682 Installment loans to individuals 115 85 — 106 56,644 56,950 Purchased credit impaired 132 5 430 — 16,279 16,846 Total $ 6,482 3,194 430 22,795 3,343,883 3,376,784 Unamortized net deferred loan fees (808 ) Total loans $ 3,375,976 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 and six months ended June 30, 2017. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Total As of and for the three months ended June 30, 2017 Beginning balance $ 3,792 2,764 7,376 2,138 5,979 1,067 430 23,546 Charge-offs (814 ) (92 ) (353 ) (347 ) (88 ) (172 ) — (1,866 ) Recoveries 220 981 440 65 555 84 — 2,345 Provisions 232 (977 ) (378 ) 201 (293 ) 95 1,120 — Ending balance $ 3,430 2,676 7,085 2,057 6,153 1,074 1,550 24,025 As of and for the six months ended June 30, 2017 Beginning balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 23,781 Charge-offs (1,204 ) (269 ) (1,247 ) (578 ) (414 ) (359 ) — (4,071 ) Recoveries 518 1,471 636 130 698 139 — 3,592 Provisions 287 (1,217 ) (8 ) 85 771 149 656 723 Ending balance $ 3,430 2,676 7,085 2,057 6,153 1,074 1,550 24,025 Ending balances as of June 30, 2017: Allowance for loan losses Individually evaluated for impairment $ 8 182 1,304 — 424 — — 1,918 Collectively evaluated for impairment $ 3,422 2,494 5,781 2,057 5,729 1,074 1,550 22,107 Purchased credit impaired $ — — — — — — — — Loans receivable as of June 30, 2017: Ending balance – total $ 383,834 446,661 783,759 320,953 1,384,569 57,008 — 3,376,784 Unamortized net deferred loan fees (808 ) Total loans $ 3,375,976 Ending balances as of June 30, 2017: Loans Individually evaluated for impairment $ 235 3,250 17,083 54 9,053 — — 29,675 Collectively evaluated for impairment $ 383,330 442,956 763,224 320,174 1,363,629 56,950 — 3,330,263 Purchased credit impaired $ 269 455 3,452 725 11,887 58 — 16,846 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 and six months ended June 30, 2016. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo Covered Total As of and for the three month ended June 30, 2016 Beginning balance $ 4,679 3,345 7,374 2,267 5,940 1,202 442 1,399 26,648 Charge-offs (57 ) (137 ) (740 ) (285 ) (396 ) (238 ) — (4 ) (1,857 ) Recoveries 216 121 61 64 155 140 — 756 1,513 Transfer from covered category 56 62 51 12 126 — — (307 ) — Provisions (612 ) (492 ) 1,114 227 (254 ) 376 130 (770 ) (281 ) Ending balance $ 4,282 2,899 7,860 2,285 5,571 1,480 572 1,074 26,023 As of and for the six month ended June 30, 2016 Beginning balance $ 4,742 3,754 7,832 2,893 5,816 1,051 696 1,799 28,583 Charge-offs (734 ) (477 ) (2,691 ) (734 ) (562 ) (518 ) — (245 ) (5,961 ) Recoveries 302 211 295 119 285 253 — 1,959 3,424 Transfer from covered category 56 62 51 12 126 — — (307 ) — Provisions (84 ) (651 ) 2,373 (5 ) (94 ) 694 (124 ) (2,132 ) (23 ) Ending balance $ 4,282 2,899 7,860 2,285 5,571 1,480 572 1,074 26,023 Ending balances as of June 30, 2016: Allowance for loan losses Individually evaluated for impairment $ 14 172 1,263 11 478 70 — 443 2,451 Collectively evaluated for impairment $ 4,268 2,727 6,597 2,274 5,093 1,410 572 631 23,572 Purchased credit impaired $ — — — — — — — — — Loans receivable as of June 30, 2016: Ending balance – total $ 244,862 310,832 683,367 228,906 1,000,319 50,387 — 78,387 2,597,060 Unamortized net deferred loan costs 1,074 Total loans $ 2,598,134 Ending balances as of June 30, 2016: Loans Individually evaluated for impairment $ 859 4,614 20,201 383 12,845 72 — 5,500 44,474 Collectively evaluated for impairment $ 244,003 306,218 662,959 228,523 986,926 50,315 — 72,881 2,551,825 Purchased credit impaired $ — — 207 — 548 — — 6 761 The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of June 30, 2017. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 188 426 — 337 Real estate – mortgage – construction, land development & other land loans 2,711 3,881 — 2,883 Real estate – mortgage – residential (1-4 family) first mortgages 6,682 7,424 — 7,890 Real estate – mortgage –home equity loans / lines of credit 54 80 — 76 Real estate – mortgage –commercial and other 2,302 2,528 — 3,496 Installment loans to individuals — — — 1 Total impaired loans with no allowance $ 11,937 14,339 — 14,683 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 47 47 8 124 Real estate – mortgage – construction, land development & other land loans 539 557 182 682 Real estate – mortgage – residential (1-4 family) first mortgages 10,401 10,622 1,304 10,755 Real estate – mortgage –home equity loans / lines of credit — — — 110 Real estate – mortgage –commercial and other 6,751 6,776 424 4,711 Installment loans to individuals — — — — Total impaired loans with allowance $ 17,738 18,002 1,918 16,382 Interest income on impaired loans recognized during the six months ended June 30, 2017 was insignificant. 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 4,598 5,112 — 8,165 Installment loans to individuals — 2 — 1 Total impaired loans with no allowance $ 18,561 22,744 — 23,770 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 on impaired loans recognized 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 (<$500,000) with a well-defined weakness, such as exceptions of any kind with no mitigating factors, history of paying outside the terms of the note, insufficient income to support the current level of debt, etc. The following table presents the Company’s recorded investment in loans by credit quality indicators as of June 30, 2017. ($ in thousands) Pass Special Classified Classified Total Commercial, financial, and agricultural $ 372,670 8,517 1,351 1,027 383,565 Real estate – construction, land development & other land loans 430,501 7,365 7,333 1,007 446,206 Real estate – mortgage – residential (1-4 family) first mortgages 715,645 14,401 34,999 15,262 780,307 Real estate – mortgage – home equity loans / lines of credit 308,378 1,415 8,493 1,942 320,228 Real estate – mortgage – commercial and other 1,333,782 23,728 11,721 3,451 1,372,682 Installment loans to individuals 56,238 227 379 106 56,950 Purchased credit impaired 6,953 5,257 4,636 — 16,846 Total $ 3,224,167 60,910 68,912 22,795 3,376,784 Unamortized net deferred loan fees (808 ) Total loans 3,375,976 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 June 30, 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 3 1,000 1,000 — — — Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — — — — Real estate – construction, land development & other land loans 1 32 32 — — — Real estate – mortgage – residential (1-4 family) first mortgages 1 215 215 — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 5 $ 1,247 $ 1,247 — $ — $ — Total covered TDRs arising during period included above — $ — $ — — $ — $ — The following table presents information related to loans modified in a troubled debt restructuring during the six months ended June 30, 2017 and 2016. ($ in thousands) For six months ended For the six 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 5 3,550 3,525 — — — Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — — — — Real estate – construction, land development & other land loans 1 32 32 — — — Real estate – mortgage – residential (1-4 family) first mortgages 1 215 215 — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 7 $ 3,797 $ 3,772 — $ — $ — 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 June 30, 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 Real estate – mortgage – residential (1-4 family) first mortgages 1 $ 254 — $ — Total accruing TDRs that subsequently defaulted 1 $ 254 — $ — Total covered accruing TDRs that subsequently defaulted included above — $ — — $ — Accruing restructured loans that were modified in the previous 12 months and that defaulted during the six months ended June 30, 2017 and 2016 are presented in the table below. ($ in thousands) For the six months ended For the six 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 2 880 — — Real estate – mortgage – commercial and other — — 1 21 Total accruing TDRs that subsequently defaulted 2 $ 880 2 $ 65 Total covered accruing TDRs that subsequently defaulted included above — $ — 1 $ 44

Deferred Loan (Fees) Costs

Deferred Loan (Fees) Costs	6 Months Ended
	Jun. 30, 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 ($808,000), ($49,000), and $1,074,000 at June 30, 2017, December 31, 2016, and June 30, 2016, respectively

FDIC Indemnification Asset

FDIC Indemnification Asset	6 Months Ended
	Jun. 30, 2017
Fdic Indemnification Asset [Abstract]
FDIC Indemnification Asset	Note 10 – FDIC Indemnification Asset The FDIC indemnification asset is the estimated amount that the Company will receive from the FDIC under loss share agreements associated with two FDIC-assisted failed bank acquisitions. See page 42 of the Company’s 2015 Annual Report on Form 10-K for a detailed explanation of this asset. The FDIC indemnification asset was comprised of the following components as of the dates shown: ($ in thousands) June 30, December 31, June 30, Receivable (payable) related to loss claims incurred (recoveries), not yet received (paid), net $ — — (1,542 ) Receivable related to estimated future claims on loans — — 6,383 Receivable related to estimated future claims on foreclosed real estate — — 316 FDIC indemnification asset $ — — 5,157 The following presents a rollforward of the FDIC indemnification asset for the first half of 2016. ($ in thousands) Balance at January 1, 2016 $ 8,439 Decrease related to favorable changes in loss estimates (2,246 ) Increase related to reimbursable expenses 205 Cash paid (received) 738 Related to accretion of loan discount (2,005 ) Other 26 Balance at June 30, 2016 $ 5,157

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 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 June 30, 2017, December 31, 2016, and June 30, 2016 and the carrying amount of unamortized intangible assets as of those same dates. June 30, 2017 December 31, 2016 June 30, 2016 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists $ 2,369 866 2,369 746 2,369 624 Core deposit premiums 18,520 9,404 9,730 8,143 8,560 7,660 Other 1,032 381 1,032 224 1,032 65 Total $ 21,921 10,651 13,131 9,113 11,961 8,349 SBA servicing asset $ 862 415 — Unamortizable intangible assets: Goodwill $ 139,124 75,042 73,541 Activity related to transactions during the periods presented 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 $4,333,000 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 $65,302,000 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 half of 2017, the Company recorded an additional $513,000 in servicing assets, as well as $66,000 in amortization expense. Servicing assets are recorded at fair value and amortized as a reduction of service fee income over the expected lives of the related loans. Amortization expense of all intangible assets totaled $1,031,000 and $261,000 for the three months ended June 30, 2017 and 2016, respectively, and $1,607,000 and $447,000 for the six months ended June 30, 2017 and 2016, respectively. The following table presents the estimated amortization expense related to amortizable intangible assets, excluding SBA servicing assets, for the last two quarters of calendar year 2017 and for each of the four calendar years ending December 31, 2021 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortized intangible assets. ($ in thousands) Estimated Amortization July 1 to December 31, 2017 $ 1,615 2018 2,862 2019 2,314 2020 1,750 2021 1,288 Thereafter 1,441 Total $ 11,270

Pension Plans

Pension Plans	6 Months Ended
	Jun. 30, 2017
Retirement Benefits [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 $241,000 and $162,000 for the three months ended June 30, 2017 and 2016, respectively, which primarily related to investment income from the Pension Plan’s assets. The following table contains the components of the pension income. For the Three Months Ended June 30, 2017 2016 2017 2016 2017 Total 2016 Total ($ in thousands) Pension Plan Pension Plan SERP SERP Both Plans Both Plans Service cost $ — — 32 27 32 27 Interest cost 350 376 53 59 403 435 Expected return on plan assets (730 ) (675 ) — — (730 ) (675 ) Amortization of transition obligation — — — — — — Amortization of net (gain)/loss 62 60 (8 ) (9 ) 54 51 Amortization of prior service cost — — — — — — Net periodic pension (income)/cost $ (318 ) (239 ) 77 77 (241 ) (162 ) The Company recorded pension income totaling $403,000 and $325,000 for the six months ended June 30, 2017 and 2016, respectively, which primarily related to investment income from the Pension Plan’s assets. The following table contains the components of the pension income. For the Six Months Ended June 30, 2017 2016 2017 2016 2017 Total 2016 Total ($ in thousands) Pension Plan Pension Plan SERP SERP Both Plans Both Plans Service cost – benefits earned during the period $ — — 59 53 59 53 Interest cost 725 752 113 118 838 870 Expected return on plan assets (1,405 ) (1,350 ) — — (1,405 ) (1,350 ) Amortization of transition obligation — — — — — — Amortization of net (gain)/loss 122 120 (17 ) (18 ) 105 102 Amortization of prior service cost — — — — — — Net periodic pension cost (income) $ (558 ) (478 ) 155 153 (403 ) (325 ) 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)	6 Months Ended
	Jun. 30, 2017
Comprehensive Income [Abstract]
Comprehensive Income (Loss)	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) June 30, 2017 December 31, 2016 June 30, 2016 Unrealized gain (loss) on securities available for sale $ 252 (3,085 ) 1,722 Deferred tax asset (liability) (93 ) 1,138 (671 ) Net unrealized gain (loss) on securities available for sale 159 (1,947 ) 1,051 Additional pension asset (liability) (4,907 ) (5,012 ) (4,555 ) Deferred tax asset (liability) 1,816 1,852 1,776 Net additional pension asset (liability) (3,091 ) (3,160 ) (2,779 ) Total accumulated other comprehensive income (loss) $ (2,932 ) (5,107 ) (1,728 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the six months ended June 30, 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 1,958 — 1,958 Amounts reclassified from accumulated other comprehensive income 148 69 217 Net current-period other comprehensive income (loss) 2,106 69 2,175 Ending balance at June 30, 2017 $ 159 (3,091 ) (2,932 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the six months ended June 30, 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 1,762 — 1,762 Amounts reclassified from accumulated other comprehensive income (2 ) 62 60 Net current-period other comprehensive income (loss) 1,760 62 1,822 Ending balance at June 30, 2016 $ 1,051 (2,779 ) (1,728 )

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 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 June 30, 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 $ 16,498 — 16,498 — Mortgage-backed securities 156,601 — 156,601 — Corporate bonds 34,397 — 34,397 — Total available for sale securities $ 207,496 — 207,496 — Nonrecurring Impaired loans $ 15,848 — — 15,848 Foreclosed real estate 11,196 — — 11,196 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 June 30, 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 $ 15,848 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 11,196 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 or six months ended June 30, 2017 or 2016. For the six months ended June 30, 2017 and 2016, the increase in the fair value of securities available for sale was $3,102,000 and $2,888,000, respectively, which is included in other comprehensive income (net of tax expense of $1,144,000 and $1,126,000, respectively). Fair value measurement methods at June 30, 2017 and 2016 are consistent with those used in prior reporting periods. The carrying amounts and estimated fair values of financial instruments at June 30, 2017 and December 31, 2016 are as follows: June 30, 2017 December 31, 2016 ($ in thousands) Level in Fair Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 80,234 80,234 71,645 71,645 Due from banks, interest-bearing Level 1 337,326 337,326 234,348 234,348 Securities available for sale Level 2 207,496 207,496 199,329 199,329 Securities held to maturity Level 2 127,866 129,697 129,713 130,195 Presold mortgages in process of settlement Level 1 13,071 13,071 2,116 2,116 Total loans, net of allowance Level 3 3,351,951 3,293,944 2,686,931 2,650,820 Accrued interest receivable Level 1 10,830 10,830 9,286 9,286 Bank-owned life insurance Level 1 87,501 87,501 74,138 74,138 Deposits Level 2 3,644,330 3,640,874 2,947,353 2,944,968 Borrowings Level 2 355,405 343,754 271,394 263,255 Accrued interest payable Level 2 1,014 1,014 539 539 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.

Series C Preferred Stock

Series C Preferred Stock	6 Months Ended
	Jun. 30, 2017
Series C Preferred Stock [Abstract]
Series C Preferred Stock	Note 15 – Series C Preferred Stock 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 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 three and six months ended June 30, 2016, the Company accrued approximately $59,000 and $117,000, respectively, in preferred dividend payments for the Series C Preferred Stock.

Pending Acquisition

Pending Acquisition	6 Months Ended
	Jun. 30, 2017
Pending Acquisition [Abstract]
Pending Acquisition	Note 16 – Pending Acquisition On May 1, 2017, the Company announced the signing of a definitive merger agreement to acquire ASB Bancorp, Inc. (“ASB Bancorp”) 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 $801 million, gross loans of $614 million and deposits of $677 million as of June 30, 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)	6 Months Ended
	Jun. 30, 2017
Acquisitions Tables
Condensed Balance Sheet of Carolina Bank and Related Fair Value Adjustments	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 $65.3 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ in thousands) As Initial Fair Measurement 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) 146 (l) 497,522 (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) 2,382 (m) 32,554 Total 683,852 5,536 2,528 691,916 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 74,455 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 $ 65,302 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. (l) This fair value adjustment was a miscellaneous adjustment to increase the initial fair value of gross loans. (m) This fair value adjustment relates to changes in the estimate of deferred tax assets/liabilities associated with the acquisition.
Pro Forma Combined Financial Results of the Company and Carolina Bank	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 earnings - Pro Forma Pro Forma Net interest income $ 8,778 78,260 73,533 Noninterest income 1,871 22,874 16,479 Total revenue 10,649 101,134 90,012 Net income available to common shareholders 2,275 21,229 11,264 Earnings per common share Basic $ 0.86 0.48 Diluted 0.86 0.46

Equity-Based Compensation Pla26

Equity-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Equity-Based Compensation Plans [Abstract]
Schedule of Company's stock options outstanding	The following table presents information regarding the activity for the first six 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 (19,259 ) 19.44 $ 193,844 Forfeited — — Expired — — Outstanding at June 30, 2017 40,689 $ 16.11 1.2 $ 618,483 Exercisable at June 30, 2017 40,689 $ 16.11 1.2 $ 618,483
Schedule of outstanding restricted stock	The following table presents information regarding the activity for the first six 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 16,062 29.99 Vested during the period (2,282 ) 18.27 Forfeited or expired during the period (8,535 ) 18.34 Nonvested at June 30, 2017 97,035 $ 20.56

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of reconciliation of the numerators and denominators used in computing Basic and Diluted Earnings Per Common Share	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 June 30, 2017 2016 ($ in thousands except per share amounts) Income Shares Per Share Income Shares Per Share Basic EPS Net income available to $ 11,154 24,593,307 $ 0.45 $ 7,580 19,921,413 $ 0.38 Effect of Dilutive Securities — 78,243 59 772,231 Diluted EPS per common share $ 11,154 24,671,550 $ 0.45 $ 7,639 20,693,644 $ 0.37 For the Six Months Ended June 30, 2017 2016 ($ in thousands except per share amounts) Income Shares Per Share Income Shares Per Share Basic EPS Net income available to $ 18,709 23,288,635 $ 0.80 $ 14,359 19,852,580 $ 0.72 Effect of Dilutive Securities — 79,868 117 774,432 Diluted EPS per common share $ 18,709 23,368,503 $ 0.80 $ 14,476 20,627,012 $ 0.70

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2017
Securities [Abstract]
Book values and approximate fair values of investment securities	The book values and approximate fair values of investment securities at June 30, 2017 and December 31, 2016 are summarized as follows: June 30, 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 $ 16,498 16,498 7 (7 ) 17,497 17,490 — (7 ) Mortgage-backed securities 156,934 156,601 647 (980 ) 151,001 148,065 155 (3,091 ) Corporate bonds 33,812 34,397 650 (65 ) 33,833 33,600 91 (324 ) Equity securities — — — — 83 174 96 (5 ) Total available for sale $ 207,244 207,496 1,304 (1,052 ) 202,414 199,329 342 (3,427 ) Securities held to maturity: Mortgage-backed securities $ 72,257 72,005 10 (262 ) 80,585 79,283 — (1,302 ) State and local governments 55,609 57,692 2,090 (7 ) 49,128 50,912 1,815 (31 ) Total held to maturity $ 127,866 129,697 2,100 (269 ) 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 June 30, 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 $ 7,991 7 — — 7,991 7 Mortgage-backed securities 131,117 865 16,909 377 148,026 1,242 Corporate bonds — — 935 65 935 65 State and local governments 817 7 — — 817 7 Total temporarily impaired securities $ 139,925 879 17,844 442 157,769 1,321 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 Losses 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	The book values and approximate fair values of investment securities at June 30, 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 $ — — 1,873 1,888 Due after one year but within five years 16,498 16,498 23,718 24,580 Due after five years but within ten years 28,812 29,287 24,251 25,405 Due after ten years 5,000 5,110 5,767 5,819 Mortgage-backed securities 156,934 156,601 72,257 72,005 Total securities $ 207,244 207,496 127,866 129,697

Loans and Asset Quality Infor29

Loans and Asset Quality Information (Tables)	6 Months Ended
	Jun. 30, 2017
Loans and Asset Quality Information [Abstract]
Summary of contractually required payments for Carolina Bank expected at acquisition date	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
Summary of contractually required payments for Carolina Bank not expected at acquisition date	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 478,515 Contractual cash flows not expected to be collected 3,650
Summary of the major categories of total loans outstanding	The following is a summary of the major categories of total loans outstanding: ($ in thousands) June 30, 2017 December 31, 2016 June 30, 2016 Amount Percentage Amount Percentage Amount Percentage All loans (non-covered and covered): Commercial, financial, and agricultural $ 383,834 11 % $ 261,813 9 % $ 244,862 9 % Real estate – construction, land development & other land loans 446,661 13 % 354,667 13 % 310,993 12 % Real estate – mortgage – residential (1-4 family) first mortgages 783,759 23 % 750,679 28 % 751,446 29 % Real estate – mortgage – home equity loans / lines of credit 320,953 10 % 239,105 9 % 238,794 9 % Real estate – mortgage – commercial and other 1,384,569 41 % 1,049,460 39 % 1,000,578 39 % Installment loans to individuals 57,008 2 % 55,037 2 % 50,387 2 % Subtotal 3,376,784 100 % 2,710,761 100 % 2,597,060 100 % Unamortized net deferred loan costs (fees) (808 ) (49 ) 1,074 Total loans $ 3,375,976 $ 2,710,712 $ 2,598,134
Summary of the major categories of non-covered and covered loans outstanding	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 June 30, 2016. There were no covered loans at June 30, 2017 or December 31, 2016. ($ in thousands) June 30, 2016 Non-covered Covered Total Commercial, financial, and agricultural $ 244,862 — $ 244,862 Real estate – construction, land development & other land loans 310,832 161 310,993 Real estate – mortgage – residential (1-4 family) first mortgages 683,367 68,079 751,446 Real estate – mortgage – home equity loans / lines of credit 228,906 9,888 238,794 Real estate – mortgage – commercial and other 1,000,319 259 1,000,578 Installment loans to individuals 50,387 — 50,387 Subtotal 2,518,673 78,387 2,597,060 Unamortized net deferred loan costs 1,074 — 1,074 Total $ 2,519,747 78,387 $ 2,598,134
Schedule of the carrying amount of the covered loans	The following presents the carrying amount of the covered loans at June 30, 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 June 30, 2017 or December 31, 2016. ($ in thousands) Impaired Impaired Nonimpaired Nonimpaired Total Total Covered loans: Commercial, financial, and agricultural $ — — — — — — Real estate – construction, land development & other land loans — — 161 162 161 162 Real estate – mortgage – residential (1-4 family) first mortgages — 33 68,079 78,940 68,079 78,973 Real estate – mortgage – home equity loans / lines of credit 6 14 9,882 11,140 9,888 11,154 Real estate – mortgage – commercial and other — — 259 294 259 294 Installment loans to individuals — — — — — — Total $ 6 47 78,381 90,536 78,387 90,583
Schedule of activity in covered purchased nonimpaired loans	The following table presents information regarding covered purchased non-impaired loans since January 1, 2016. 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 January 1, 2016 $ 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	The following table presents information regarding all PCI loans since January 1, 2016. ($ in thousands) Purchased Credit Impaired Loans Accretable Carrying Balance at January 1, 2016 $ — 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 (871 ) 871 Change due to payments received — (3,317 ) Transfer to foreclosed real estate — (69 ) Other — (407 ) Balance at June 30, 2017 $ 2,746 16,846
Summary of nonperforming assets	Nonperforming assets are summarized as follows: ASSET QUALITY DATA ($ in thousands) June 30, December 31, June 30, 2016 Nonperforming assets Nonaccrual loans $ 22,795 27,468 37,975 Restructured loans - accruing 21,019 22,138 29,271 Accruing loans > 90 days past due — — — Total nonperforming loans 43,814 49,606 67,246 Foreclosed real estate 11,196 9,532 10,606 Total nonperforming assets $ 55,010 59,138 77,852 Total covered nonperforming assets included above (1) $ — — 8,024 Purchased credit impaired loans not included above (2) $ 16,846 — — (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 $0.4 million in purchased credit impaired loans at June 30, 2017 that are contractually past due 90 days or more.
Schedule of nonaccrual loans	The following is a summary of the Company’s nonaccrual loans by major categories. ($ in thousands) June 30, December 31, Commercial, financial, and agricultural $ 1,027 1,842 Real estate – construction, land development & other land loans 1,007 2,945 Real estate – mortgage – residential (1-4 family) first mortgages 15,262 16,017 Real estate – mortgage – home equity loans / lines of credit 1,942 2,355 Real estate – mortgage – commercial and other 3,451 4,208 Installment loans to individuals 106 101 Total $ 22,795 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 June 30, 2017. ($ in thousands) Accruing Accruing Accruing Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 236 20 — 1,027 382,282 383,565 Real estate – construction, land development & other land loans 1,040 174 — 1,007 443,985 446,206 Real estate – mortgage – residential (1-4 family) first mortgages 2,847 2,784 — 15,262 759,414 780,307 Real estate – mortgage – home equity loans / lines of credit 1,018 54 — 1,942 317,214 320,228 Real estate – mortgage – commercial and other 1,094 72 — 3,451 1,368,065 1,372,682 Installment loans to individuals 115 85 — 106 56,644 56,950 Purchased credit impaired 132 5 430 — 16,279 16,846 Total $ 6,482 3,194 430 22,795 3,343,883 3,376,784 Unamortized net deferred loan fees (808 ) Total loans $ 3,375,976 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 and six months ended June 30, 2017. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo- Total As of and for the three months ended June 30, 2017 Beginning balance $ 3,792 2,764 7,376 2,138 5,979 1,067 430 23,546 Charge-offs (814 ) (92 ) (353 ) (347 ) (88 ) (172 ) — (1,866 ) Recoveries 220 981 440 65 555 84 — 2,345 Provisions 232 (977 ) (378 ) 201 (293 ) 95 1,120 — Ending balance $ 3,430 2,676 7,085 2,057 6,153 1,074 1,550 24,025 As of and for the six months ended June 30, 2017 Beginning balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 23,781 Charge-offs (1,204 ) (269 ) (1,247 ) (578 ) (414 ) (359 ) — (4,071 ) Recoveries 518 1,471 636 130 698 139 — 3,592 Provisions 287 (1,217 ) (8 ) 85 771 149 656 723 Ending balance $ 3,430 2,676 7,085 2,057 6,153 1,074 1,550 24,025 Ending balances as of June 30, 2017: Allowance for loan losses Individually evaluated for impairment $ 8 182 1,304 — 424 — — 1,918 Collectively evaluated for impairment $ 3,422 2,494 5,781 2,057 5,729 1,074 1,550 22,107 Purchased credit impaired $ — — — — — — — — Loans receivable as of June 30, 2017: Ending balance – total $ 383,834 446,661 783,759 320,953 1,384,569 57,008 — 3,376,784 Unamortized net deferred loan fees (808 ) Total loans $ 3,375,976 Ending balances as of June 30, 2017: Loans Individually evaluated for impairment $ 235 3,250 17,083 54 9,053 — — 29,675 Collectively evaluated for impairment $ 383,330 442,956 763,224 320,174 1,363,629 56,950 — 3,330,263 Purchased credit impaired $ 269 455 3,452 725 11,887 58 — 16,846 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 and six months ended June 30, 2016. ($ in thousands) Commercial, Real Estate Real Estate Real Estate Real Estate Installment Unallo Covered Total As of and for the three month ended June 30, 2016 Beginning balance $ 4,679 3,345 7,374 2,267 5,940 1,202 442 1,399 26,648 Charge-offs (57 ) (137 ) (740 ) (285 ) (396 ) (238 ) — (4 ) (1,857 ) Recoveries 216 121 61 64 155 140 — 756 1,513 Transfer from covered category 56 62 51 12 126 — — (307 ) — Provisions (612 ) (492 ) 1,114 227 (254 ) 376 130 (770 ) (281 ) Ending balance $ 4,282 2,899 7,860 2,285 5,571 1,480 572 1,074 26,023 As of and for the six month ended June 30, 2016 Beginning balance $ 4,742 3,754 7,832 2,893 5,816 1,051 696 1,799 28,583 Charge-offs (734 ) (477 ) (2,691 ) (734 ) (562 ) (518 ) — (245 ) (5,961 ) Recoveries 302 211 295 119 285 253 — 1,959 3,424 Transfer from covered category 56 62 51 12 126 — — (307 ) — Provisions (84 ) (651 ) 2,373 (5 ) (94 ) 694 (124 ) (2,132 ) (23 ) Ending balance $ 4,282 2,899 7,860 2,285 5,571 1,480 572 1,074 26,023 Ending balances as of June 30, 2016: Allowance for loan losses Individually evaluated for impairment $ 14 172 1,263 11 478 70 — 443 2,451 Collectively evaluated for impairment $ 4,268 2,727 6,597 2,274 5,093 1,410 572 631 23,572 Purchased credit impaired $ — — — — — — — — — Loans receivable as of June 30, 2016: Ending balance – total $ 244,862 310,832 683,367 228,906 1,000,319 50,387 — 78,387 2,597,060 Unamortized net deferred loan costs 1,074 Total loans $ 2,598,134 Ending balances as of June 30, 2016: Loans Individually evaluated for impairment $ 859 4,614 20,201 383 12,845 72 — 5,500 44,474 Collectively evaluated for impairment $ 244,003 306,218 662,959 228,523 986,926 50,315 — 72,881 2,551,825 Purchased credit impaired $ — — 207 — 548 — — 6 761
Schedule of impaired loans individually evaluated	The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of June 30, 2017. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 188 426 — 337 Real estate – mortgage – construction, land development & other land loans 2,711 3,881 — 2,883 Real estate – mortgage – residential (1-4 family) first mortgages 6,682 7,424 — 7,890 Real estate – mortgage –home equity loans / lines of credit 54 80 — 76 Real estate – mortgage –commercial and other 2,302 2,528 — 3,496 Installment loans to individuals — — — 1 Total impaired loans with no allowance $ 11,937 14,339 — 14,683 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 47 47 8 124 Real estate – mortgage – construction, land development & other land loans 539 557 182 682 Real estate – mortgage – residential (1-4 family) first mortgages 10,401 10,622 1,304 10,755 Real estate – mortgage –home equity loans / lines of credit — — — 110 Real estate – mortgage –commercial and other 6,751 6,776 424 4,711 Installment loans to individuals — — — — Total impaired loans with allowance $ 17,738 18,002 1,918 16,382 Interest income on impaired loans recognized during the six months ended June 30, 2017 was insignificant. 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 4,598 5,112 — 8,165 Installment loans to individuals — 2 — 1 Total impaired loans with no allowance $ 18,561 22,744 — 23,770 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 June 30, 2017. ($ in thousands) Pass Special Classified Classified Total Commercial, financial, and agricultural $ 372,670 8,517 1,351 1,027 383,565 Real estate – construction, land development & other land loans 430,501 7,365 7,333 1,007 446,206 Real estate – mortgage – residential (1-4 family) first mortgages 715,645 14,401 34,999 15,262 780,307 Real estate – mortgage – home equity loans / lines of credit 308,378 1,415 8,493 1,942 320,228 Real estate – mortgage – commercial and other 1,333,782 23,728 11,721 3,451 1,372,682 Installment loans to individuals 56,238 227 379 106 56,950 Purchased credit impaired 6,953 5,257 4,636 — 16,846 Total $ 3,224,167 60,910 68,912 22,795 3,376,784 Unamortized net deferred loan fees (808 ) Total loans 3,375,976 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	The following table presents information related to loans modified in a troubled debt restructuring during the three months ended June 30, 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 3 1,000 1,000 — — — Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — — — — Real estate – construction, land development & other land loans 1 32 32 — — — Real estate – mortgage – residential (1-4 family) first mortgages 1 215 215 — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 5 $ 1,247 $ 1,247 — $ — $ — Total covered TDRs arising during period included above — $ — $ — — $ — $ — The following table presents information related to loans modified in a troubled debt restructuring during the six months ended June 30, 2017 and 2016. ($ in thousands) For six months ended For the six 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 5 3,550 3,525 — — — Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — — — — Real estate – construction, land development & other land loans 1 32 32 — — — Real estate – mortgage – residential (1-4 family) first mortgages 1 215 215 — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 7 $ 3,797 $ 3,772 — $ — $ — Total covered TDRs arising during period included above — $ — $ — — $ — $ —
Schedule of accruing restructured loans that defaulted in the period	Accruing restructured loans that were modified in the previous 12 months and that defaulted during the three months ended June 30, 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 Real estate – mortgage – residential (1-4 family) first mortgages 1 $ 254 — $ — Total accruing TDRs that subsequently defaulted 1 $ 254 — $ — Total covered accruing TDRs that subsequently defaulted included above — $ — — $ — Accruing restructured loans that were modified in the previous 12 months and that defaulted during the six months ended June 30, 2017 and 2016 are presented in the table below. ($ in thousands) For the six months ended For the six 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 2 880 — — Real estate – mortgage – commercial and other — — 1 21 Total accruing TDRs that subsequently defaulted 2 $ 880 2 $ 65 Total covered accruing TDRs that subsequently defaulted included above — $ — 1 $ 44

FDIC Indemnification Asset (Tab

FDIC Indemnification Asset (Tables)	6 Months Ended
	Jun. 30, 2017
Fdic Indemnification Asset [Abstract]
Schedule of the FDIC indemnification asset components	The FDIC indemnification asset was comprised of the following components as of the dates shown: ($ in thousands) June 30, December 31, June 30, Receivable (payable) related to loss claims incurred (recoveries), not yet received (paid), net $ — — (1,542 ) Receivable related to estimated future claims on loans — — 6,383 Receivable related to estimated future claims on foreclosed real estate — — 316 FDIC indemnification asset $ — — 5,157
Rollforward of the FDIC indemnification asset	The following presents a rollforward of the FDIC indemnification asset for the first half of 2016. ($ in thousands) Balance at January 1, 2016 $ 8,439 Decrease related to favorable changes in loss estimates (2,246 ) Increase related to reimbursable expenses 205 Cash paid (received) 738 Related to accretion of loan discount (2,005 ) Other 26 Balance at June 30, 2016 $ 5,157

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 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	The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of June 30, 2017, December 31, 2016, and June 30, 2016 and the carrying amount of unamortized intangible assets as of those same dates. June 30, 2017 December 31, 2016 June 30, 2016 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists $ 2,369 866 2,369 746 2,369 624 Core deposit premiums 18,520 9,404 9,730 8,143 8,560 7,660 Other 1,032 381 1,032 224 1,032 65 Total $ 21,921 10,651 13,131 9,113 11,961 8,349 SBA servicing asset $ 862 415 — Unamortizable intangible assets: Goodwill $ 139,124 75,042 73,541
Schedule of the estimated amortization expense for the five succeeding fiscal years	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 July 1 to December 31, 2017 $ 1,615 2018 2,862 2019 2,314 2020 1,750 2021 1,288 Thereafter 1,441 Total $ 11,270

Pension Plans (Tables)

Pension Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Retirement Benefits [Abstract]
Schedule of the components of pension (income) expense	The Company recorded pension income totaling $241,000 and $162,000 for the three months ended June 30, 2017 and 2016, respectively, which primarily related to investment income from the Pension Plan’s assets. The following table contains the components of the pension income. For the Three Months Ended June 30, 2017 2016 2017 2016 2017 Total 2016 Total ($ in thousands) Pension Plan Pension Plan SERP SERP Both Plans Both Plans Service cost $ — — 32 27 32 27 Interest cost 350 376 53 59 403 435 Expected return on plan assets (730 ) (675 ) — — (730 ) (675 ) Amortization of transition obligation — — — — — — Amortization of net (gain)/loss 62 60 (8 ) (9 ) 54 51 Amortization of prior service cost — — — — — — Net periodic pension (income)/cost $ (318 ) (239 ) 77 77 (241 ) (162 ) The Company recorded pension income totaling $403,000 and $325,000 for the six months ended June 30, 2017 and 2016, respectively, which primarily related to investment income from the Pension Plan’s assets. The following table contains the components of the pension income. For the Six Months Ended June 30, 2017 2016 2017 2016 2017 Total 2016 Total ($ in thousands) Pension Plan Pension Plan SERP SERP Both Plans Both Plans Service cost – benefits earned during the period $ — — 59 53 59 53 Interest cost 725 752 113 118 838 870 Expected return on plan assets (1,405 ) (1,350 ) — — (1,405 ) (1,350 ) Amortization of transition obligation — — — — — — Amortization of net (gain)/loss 122 120 (17 ) (18 ) 105 102 Amortization of prior service cost — — — — — — Net periodic pension cost (income) $ (558 ) (478 ) 155 153 (403 ) (325 )

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2017
Comprehensive Income [Abstract]
Schedule of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive income (loss) for the Company are as follows: ($ in thousands) June 30, 2017 December 31, 2016 June 30, 2016 Unrealized gain (loss) on securities available for sale $ 252 (3,085 ) 1,722 Deferred tax asset (liability) (93 ) 1,138 (671 ) Net unrealized gain (loss) on securities available for sale 159 (1,947 ) 1,051 Additional pension asset (liability) (4,907 ) (5,012 ) (4,555 ) Deferred tax asset (liability) 1,816 1,852 1,776 Net additional pension asset (liability) (3,091 ) (3,160 ) (2,779 ) Total accumulated other comprehensive income (loss) $ (2,932 ) (5,107 ) (1,728 )
Schedule of changes in accumulated other comprehensive income (loss)	The following table discloses the changes in accumulated other comprehensive income (loss) for the six months ended June 30, 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 1,958 — 1,958 Amounts reclassified from accumulated other comprehensive income 148 69 217 Net current-period other comprehensive income (loss) 2,106 69 2,175 Ending balance at June 30, 2017 $ 159 (3,091 ) (2,932 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the six months ended June 30, 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 1,762 — 1,762 Amounts reclassified from accumulated other comprehensive income (2 ) 62 60 Net current-period other comprehensive income (loss) 1,760 62 1,822 Ending balance at June 30, 2016 $ 1,051 (2,779 ) (1,728 )

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value [Abstract]
Financial instruments that were measured at fair value on a recurring and nonrecurring basis	The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at June 30, 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 $ 16,498 — 16,498 — Mortgage-backed securities 156,601 — 156,601 — Corporate bonds 34,397 — 34,397 — Total available for sale securities $ 207,496 — 207,496 — Nonrecurring Impaired loans $ 15,848 — — 15,848 Foreclosed real estate 11,196 — — 11,196 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 June 30, 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 $ 15,848 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 11,196 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	The carrying amounts and estimated fair values of financial instruments at June 30, 2017 and December 31, 2016 are as follows: June 30, 2017 December 31, 2016 ($ in thousands) Level in Fair Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 80,234 80,234 71,645 71,645 Due from banks, interest-bearing Level 1 337,326 337,326 234,348 234,348 Securities available for sale Level 2 207,496 207,496 199,329 199,329 Securities held to maturity Level 2 127,866 129,697 129,713 130,195 Presold mortgages in process of settlement Level 1 13,071 13,071 2,116 2,116 Total loans, net of allowance Level 3 3,351,951 3,293,944 2,686,931 2,650,820 Accrued interest receivable Level 1 10,830 10,830 9,286 9,286 Bank-owned life insurance Level 1 87,501 87,501 74,138 74,138 Deposits Level 2 3,644,330 3,640,874 2,947,353 2,944,968 Borrowings Level 2 355,405 343,754 271,394 263,255 Accrued interest payable Level 2 1,014 1,014 539 539

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 ($)shares	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Shares issued pursuant to acquisition						$ 114,478	$ 5,509
Goodwill					$ 139,124	139,124	73,541	$ 75,042
Earn-out liability					1,200	1,200
Premises and equipment sold							21
Allowance for loan losses					24,025	24,025	26,023	23,781
Total assets					4,528,620	4,528,620	3,466,546	3,614,862
Total deposits					3,644,330	3,644,330	2,872,020	2,947,353
Total loans					3,375,976	3,375,976	$ 2,598,134	$ 2,710,712
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
Measurement period adjustment for earn-out liability and goodwill					$ 1,200
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	$ 25,300
Shares issued pursuant to acquisition, shares | shares	3,799,471
Shares issued pursuant to acquisition	$ 114,478
Goodwill	65,302
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%
Closing stock price | $ / shares	$ 30.13
Carolina Bank [Member] | Post Merger [Member]
Business Acquisition [Line Items]
Merger Related Expenses						3,200
Carolina Bank [Member] | Pre Merger [Member]
Business Acquisition [Line Items]
Merger Related Expenses						$ 4,600
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	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Fair Value Adjustments
Value of stock issued				$ 114,478	$ 5,509
Goodwill recorded related to acquisition of Carolina Bank				$ 139,124	$ 73,541	$ 75,042
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		25,300
Goodwill recorded related to acquisition of Carolina Bank		65,302	65,302
As Recorded by First Bancorp [Member]
Assets
Cash and cash equivalents		81,464	81,464
Securities		49,368	49,368
Loans, gross		497,522	497,522
Allowance for loan losses
Premises and equipment		22,218	22,218
Core deposit intangible		8,790	8,790
Other		32,554	32,554
Total		691,916	691,916
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		$ 74,455	74,455
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
Measurement Period Adjustments [Member]
Fair Value Adjustments
Cash and cash equivalents
Securities
Loans, gross	[12]		146
Write-down of purchased credit impaired loans
Allowance for loan losses
Premises and equipment
Core deposit intangible
Other	[13]		2,382
Total Assets			2,528
Deposits
Borrowings
Other
Total Liabilities
[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. Assuming the loans continue to perform, 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.
[12]	This fair value adjustment was a miscellaneous adjustment to increase the initial fair value of gross loans.
[13]	This fair value adjustment relates to changes in the estimate of deferred tax assets/liabilities associated with the acquisition.

Acquisitions (Summary of Profor

Acquisitions (Summary of Proforma Combined) (Details) - USD ($) $ / shares in Units, $ in Thousands	4 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016
Net interest income		$ 78,260	$ 73,533
Noninterest income		22,874	16,479
Total revenue		101,134	90,012
Net income available to common shareholders		$ 21,229	$ 11,264
Earnings per common share
Basic		$ 0.86	$ 0.48
Diluted		$ 0.86	$ 0.46
Carolina Bank Holdings, Inc. [Member]
Net interest income	$ 8,778
Noninterest income	1,871
Total revenue	10,649
Net income available to common shareholders	$ 2,275

Equity-Based Compensation Pla38

Equity-Based Compensation Plans (Narrative) (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended		30 Months Ended	36 Months Ended
	Jan. 30, 2017	Jan. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2017
Stock based compensation expense			$ 479,000	$ 258,000	$ 657,000	$ 380,000
Stock based compensation, income tax benefit					243,000	148,000
Proceeds from stock options exercised			$ 242,000	248,000	$ 287,000	375,000
First Bancorp 2014 Equity Plan [Member]
Shares remaining available for grant			836,206		836,206		836,206	836,206
First Bancorp Plans [Member]
Stock options outstanding			40,689		40,689		40,689	40,689
Exercise price range - floor					$ 14.35
Exercise prices range - ceiling					$ 16.81
Employees Grants [Member]
Stock based compensation expense					$ 320,000
Director [Member]
Stock based compensation expense					337,000
Senior Executives [Member] | Restricted Stock [Member]
Stock based compensation expense			$ 66,000	55,000	151,000	111,000
Stock-based compensation expense expected to be recorded			66,000		$ 66,000		$ 66,000	$ 66,000
Vesting period					3 years
Total compensation expense associated with senior executives grants			758,000		$ 758,000		758,000	$ 758,000
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%
Employees [Member]
Stock based compensation expense			89,000	$ 69,000	$ 186,000	$ 139,000	1,800,000
Stock-based compensation expense expected to be recorded			$ 82,000		$ 82,000		$ 82,000	$ 82,000
Vesting period							3 years
Grants in period (options)							97,799
Non-employee directors [Member]
Stock based compensation expense	$ 320,000	$ 129,000
Shares granted to directors	11,190	6,584
Shares granted per director	1,119	823
Shares granted to directors, Per share	$ 28.59	$ 19.56

Equity-Based Compensation Pla39

Equity-Based Compensation Plans (Schedule of Outstanding Restricted Stock) (Details) - Long-Term Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Number of Units
Nonvested, beginning | shares	91,790
Granted during the period | shares	16,062
Vested during the period | shares	(2,282)
Forfeited or expired during the period | shares	(8,535)
Nonvested, ending | shares	97,035
Weighted-Average Grant-Date Fair Value
Nonvested, beginning | $ / shares	$ 18.65
Granted during the period | $ / shares	29.99
Vested during the period | $ / shares	18.27
Forfeited or expired during the period | $ / shares	18.34
Nonvested, ending | $ / shares	$ 20.56

Equity-Based Compensation Pla40

Equity-Based Compensation Plans (Schedule of Company's Stock Options Outstanding) (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Number of shares:
Balance options outstanding, beginning | shares	59,948
Granted | shares
Exercised | shares	(19,259)
Forfeited | shares
Expired | shares
Balance options outstanding, end | shares	40,689
Exercisable, end of period | shares	40,689
Weighted Average Exercise Price
Balance, beginning | $ / shares	$ 17.18
Granted | $ / shares
Exercised | $ / shares	19.44
Forfeited | $ / shares
Expired | $ / shares
Outstanding | $ / shares	16.11
Exercisable | $ / shares	$ 16.11
Weighted- Average Contractual Term (years), outstanding	1 year 2 months 12 days
Weighted- Average Contractual Term (years), exercisable	1 year 2 months 12 days
Aggregate Intrinsic Value, exercised | $	$ 193,844
Aggregate Intrinsic Value, outstanding | $	618,483
Aggregate Intrinsic Value, exercisable | $	$ 618,483

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive securities	0	16,250	0	16,250

Earnings Per Common Share (Reco

Earnings Per Common Share (Reconciliation Of Numerators And Denominators ) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic EPS
Net income available to common shareholders	$ 11,154	$ 7,580	$ 18,709	$ 14,359
Shares (denominator)	24,593,307	19,921,413	23,288,635	19,852,580
Basic EPS	$ 0.45	$ 0.38	$ 0.80	$ 0.72
Effect of Dilutive Securities Income (numerator)		$ 59		$ 117
Effect of Dilutive Securities Shares (denominator)	78,243	772,231	79,868	774,432
Diluted EPS per common share
Income (numerator)	$ 11,154	$ 7,639	$ 18,709	$ 14,476
Shares (denominator)	24,671,550	20,693,644	23,368,503	20,627,012
Diluted EPS per common share	$ 0.45	$ 0.37	$ 0.80	$ 0.70

Securities (Narrative) (Details

Securities (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Securities [Abstract]
Investment securities, pledged as collateral for public deposits	$ 183,529		$ 147,009
Proceeds from sales of securities	45,601	$ 8
Net realized gain loss of investment securities	235	$ 3
Federal Home Loan Bank stock and Federal Reserve Bank stock, cost	26,353		19,826
Federal Home Loan Bank Stock, cost	16,702		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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Securities available for sale:
Amortized Cost	$ 207,244	$ 202,414
Fair Value	207,496	199,329	$ 219,762
Unrealized Gains	1,304	342
Unrealized (Losses)	(1,052)	(3,427)
Securities held to maturity:
Amortized Cost	127,866	129,713	142,073
Fair Value	129,697	130,195	$ 146,099
Unrealized Gains	2,100	1,815
Unrealized (Losses)	(269)	(1,333)
Government-sponsored enterprise securities [Member]
Securities available for sale:
Amortized Cost	16,498	17,497
Fair Value	16,498	17,490
Unrealized Gains	7
Unrealized (Losses)	(7)	(7)
Mortgage-backed securities [Member]
Securities available for sale:
Amortized Cost	156,934	151,001
Fair Value	156,601	148,065
Unrealized Gains	647	155
Unrealized (Losses)	(980)	(3,091)
Securities held to maturity:
Amortized Cost	72,257	80,585
Fair Value	72,005	79,283
Unrealized Gains	10
Unrealized (Losses)	(262)	(1,302)
Corporate bonds [Member]
Securities available for sale:
Amortized Cost	33,812	33,833
Fair Value	34,397	33,600
Unrealized Gains	650	91
Unrealized (Losses)	(65)	(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	55,609	49,128
Fair Value	57,692	50,912
Unrealized Gains	2,090	1,815
Unrealized (Losses)	$ (7)	$ (31)

Securities (Schedule of Informa

Securities (Schedule of Information Regarding Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Total temporarily impaired securities Fair Value	$ 139,925	$ 232,817
Total temporarily impaired securities Unrealized Losses	879	4,138
Total temporarily impaired securities Fair Value	17,844	19,943
Total temporarily impaired securities Unrealized Losses	442	622
Total temporarily impaired securities Fair Value	157,769	252,760
Total temporarily impaired securities Unrealized Losses	1,321	4,760
Government-sponsored enterprise securities [Member]
AFS Fair Value	7,991	7,990
AFS Unrealized Losses	7	7
AFS Fair Value
AFS Unrealized Losses
Total AFS Fair Value	7,991	7,990
Total AFS Unrealized Losses	7	7
Mortgage-backed securities [Member]
AFS Fair Value	131,117	196,999
AFS Unrealized Losses	865	3,841
AFS Fair Value	16,909	19,001
AFS Unrealized Losses	377	552
Total AFS Fair Value	148,026	216,000
Total AFS Unrealized Losses	1,242	4,393
Corporate bonds [Member]
AFS Fair Value		27,027
AFS Unrealized Losses		259
AFS Fair Value	935	935
AFS Unrealized Losses	65	65
Total AFS Fair Value	935	27,962
Total AFS Unrealized Losses	65	324
Equity securities [Member]
AFS Fair Value
AFS Unrealized Losses
AFS Fair Value		7
AFS Unrealized Losses		5
Total AFS Fair Value		7
Total AFS Unrealized Losses		5
State and local governments [Member]
AFS Fair Value	817	801
AFS Unrealized Losses	7	31
AFS Fair Value
AFS Unrealized Losses
Total AFS Fair Value	817	801
Total AFS Unrealized Losses	$ 7	$ 31

Securities (Schedule of Book Va

Securities (Schedule of Book Values and Fair Values of Investment Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Securities Available for Sale - Amortized Cost
Due within one year
Due after one year but within five years	16,498
Due after five years but within ten years	28,812
Due after ten years	5,000
Mortgage-backed securities	156,934
Total debt securities	207,244
Total securities	207,244	$ 202,414
Securities Available for Sale - Fair Value
Due within one year
Due after one year but within five years	16,498
Due after five years but within ten years	29,287
Due after ten years	5,110
Mortgage-backed securities	156,601
Total debt securities	207,496
Total securities	207,496	199,329	$ 219,762
Securities Held to Maturity - Amortized Cost
Due within one year	1,873
Due after one year but within five years	23,718
Due after five years but within ten years	24,251
Due after ten years	5,767
Mortgage-backed securities	72,257
Total debt securities	127,866	129,713	142,073
Securities Held to Maturity - Fair Value
Due within one year	1,888
Due after one year but within five years	24,580
Due after five years but within ten years	25,405
Due after ten years	5,819
Mortgage-backed securities	72,005
Total debt securities	129,697
Securities held to maturity	$ 129,697	$ 130,195	$ 146,099

Loans and Asset Quality Infor47

Loans and Asset Quality Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Mar. 03, 2017
Accretion of loan discount				$ 1,908
Recoveries	$ 2,345	$ 1,513	$ 3,592	3,424	$ 6,685
Recorded loans with a fair value						$ 497,500
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Nonaccrual loans in process of foreclosure	1,100		1,100		$ 1,700
Purchased Impaired Loans [Member]
Accretion of loan discount			558	780
Payments that exceeded the initial carrying amount on purchased impaired loans			564	1,108
Recoveries				33
Additional loan interest income			6	$ 295
Recorded loans with a fair value						$ 19,300
Purchased Impaired Loans [Member] | Carolina Bank Holdings, Inc. [Member] | 90 Days or More Past Due [Member]
Recorded loans with a fair value	$ 400		$ 400

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	478,515
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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
All loans (non-covered and covered):
Amount of loans	$ 3,376,784	$ 2,710,761	$ 2,597,060
Percentage of Loans	100.00%	100.00%	100.00%
Unamortized net deferred loan costs	$ (808)	$ (49)	$ 1,074
Total loans	3,375,976	2,710,712	2,598,134
Commercial, financial, and agricultural [Member]
All loans (non-covered and covered):
Amount of loans	$ 383,834	$ 261,813	$ 244,862
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	$ 446,661	$ 354,667	$ 310,832
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	$ 783,759	$ 750,679	$ 751,446
Percentage of Loans	23.00%	28.00%	29.00%
Real estate - mortgage - home equity loans / lines of credit [Member]
All loans (non-covered and covered):
Amount of loans	$ 320,953	$ 239,105	$ 238,794
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	$ 1,384,569	$ 1,049,460	$ 1,000,319
Percentage of Loans	41.00%	39.00%	39.00%
Installment loans to individuals [Member]
All loans (non-covered and covered):
Amount of loans	$ 57,008	$ 55,037	$ 50,387
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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Non-covered and covered loans:
Non Covered Loans			$ 2,518,673
Unamortized net deferred loan costs	$ (808)	$ (49)	1,074
Loans - non-covered	3,375,976	2,710,712	2,598,134
Total loans			78,387
Unamortized net deferred loan costs
Covered Loans			78,387
Total			2,597,060
Commercial, financial, and agricultural [Member]
Non-covered and covered loans:
Non Covered Loans			244,862
Covered Loans
Total			244,862
Real estate - construction, land development & other land loans [Member]
Non-covered and covered loans:
Non Covered Loans			310,832
Covered Loans			161
Total			310,993
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Non-covered and covered loans:
Non Covered Loans			683,367
Covered Loans			68,079
Total			751,446
Real estate - mortgage - home equity loans / lines of credit [Member]
Non-covered and covered loans:
Non Covered Loans			228,906
Covered Loans			9,888
Total			238,794
Real estate - mortgage - commercial and other [Member]
Non-covered and covered loans:
Non Covered Loans			1,000,319
Covered Loans			259
Total			1,000,578
Installment loans to individuals [Member]
Non-covered and covered loans:
Non Covered Loans			50,387
Covered Loans
Total			$ 50,387

Loans and Asset Quality Infor51

Loans and Asset Quality Information (Schedule of Carrying Amount of Covered Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Covered loans:
Impaired Purchased Loans - Carrying Value			$ 6
Impaired Purchased Loans - Unpaid Principal Balance			47
Nonimpaired Purchased Loans - Carrying Value			78,381
Nonimpaired Purchased Loans - Unpaid Principal Balance			90,536
Total Covered Loans - Carrying Value			78,387
Total Covered Loans - Unpaid Principal Balance			90,583
Commercial, financial, and agricultural [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value
Impaired Purchased Loans - Unpaid Principal Balance
Nonimpaired Purchased Loans - Carrying Value
Nonimpaired Purchased Loans - Unpaid Principal Balance
Total Covered Loans - Carrying Value
Total Covered Loans - Unpaid Principal Balance
Real estate - construction, land development & other land loans [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value
Impaired Purchased Loans - Unpaid Principal Balance
Nonimpaired Purchased Loans - Carrying Value			161
Nonimpaired Purchased Loans - Unpaid Principal Balance			162
Total Covered Loans - Carrying Value			161
Total Covered Loans - Unpaid Principal Balance			162
Real estate mortgage residential (1-4 family) first mortgages [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value
Impaired Purchased Loans - Unpaid Principal Balance			33
Nonimpaired Purchased Loans - Carrying Value			68,079
Nonimpaired Purchased Loans - Unpaid Principal Balance			78,940
Total Covered Loans - Carrying Value			68,079
Total Covered Loans - Unpaid Principal Balance			78,973
Real estate mortgage home equity loans / lines of credit [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value			6
Impaired Purchased Loans - Unpaid Principal Balance			14
Nonimpaired Purchased Loans - Carrying Value			9,882
Nonimpaired Purchased Loans - Unpaid Principal Balance			11,140
Total Covered Loans - Carrying Value			9,888
Total Covered Loans - Unpaid Principal Balance			11,154
Real estate - mortgage - commercial and other [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value
Impaired Purchased Loans - Unpaid Principal Balance
Nonimpaired Purchased Loans - Carrying Value			259
Nonimpaired Purchased Loans - Unpaid Principal Balance			294
Total Covered Loans - Carrying Value			259
Total Covered Loans - Unpaid Principal Balance			294
Installment loans to individuals [Member]
Covered loans:
Impaired Purchased Loans - Carrying Value
Impaired Purchased Loans - Unpaid Principal Balance
Nonimpaired Purchased Loans - Carrying Value
Nonimpaired Purchased Loans - Unpaid Principal Balance
Total Covered Loans - Carrying Value
Total Covered Loans - Unpaid Principal Balance

Loans and Asset Quality Infor52

Loans and Asset Quality Information (Schedule of Covered Purchased Nonimpaired Loans) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 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)
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, 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	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Purchased impaired loans
Balance, beginning, carrying value	$ 514	$ 1,970
Change due to payments received	(3,317)	(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	871
Other	(407)
Balance, ending, carrying value	16,846	514
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	(871)
Other
Balance, Ending	$ 2,746

Loans and Asset Quality Infor54

Loans and Asset Quality Information (Summary of Nonperforming Assets) (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Nonperforming assets:
Nonaccrual loans		$ 22,795	$ 27,468	$ 37,975
Restructured loans - accruing		21,019	22,138	29,271
Accruing loans > 90 days past due
Total nonperforming loans		43,814	49,606	67,246
Foreclosed real estate		11,196	9,532	10,606
Total nonperforming assets		55,010	59,138	77,852
Total covered nonperforming assets included above	[1]			8,024
Purchased credit impaired loans not included above	[2]	$ 16,846
[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 $0.4 million in purchased credit impaired loans at June 30, 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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Company's nonaccrual loans:
Nonaccrual loans	$ 22,795	$ 27,468	$ 37,975
Commercial, financial, and agricultural [Member]
Company's nonaccrual loans:
Nonaccrual loans	1,027	1,842
Real estate construction, land development & other land loans [Member]
Company's nonaccrual loans:
Nonaccrual loans	1,007	2,945
Real estate mortgage residential (1-4 family) first mortgages [Member]
Company's nonaccrual loans:
Nonaccrual loans	15,262	16,017
Real estate mortgage home equity loans / lines of credit [Member]
Company's nonaccrual loans:
Nonaccrual loans	1,942	2,355
Real estate mortgage commercial and other [Member]
Company's nonaccrual loans:
Nonaccrual loans	3,451	4,208
Installment loans to individuals [Member]
Company's nonaccrual loans:
Nonaccrual loans	$ 106	$ 101

Loans and Asset Quality Infor56

Loans and Asset Quality Information (Schedule of Analysis of Payment Status of Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Analysis of the payment status of loans
Nonaccrual loans	$ 22,795	$ 27,468	$ 37,975
Total loans	3,375,976	2,710,712	2,598,134
Unamortized net deferred loan costs	(808)	(49)	1,074
Total loans	3,375,976	2,710,712	$ 2,598,134
Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,027	1,842
Real estate construction, land development & other land loans [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,007	2,945
Real estate mortgage residential (1-4 family) first mortgages [Member]
Analysis of the payment status of loans
Nonaccrual loans	15,262	16,017
Real estate mortgage home equity loans / lines of credit [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,942	2,355
Real estate mortgage commercial and other [Member]
Analysis of the payment status of loans
Nonaccrual loans	3,451	4,208
Installment loans to individuals [Member]
Analysis of the payment status of loans
Nonaccrual loans	106	101
All Total Loans [Member]
Analysis of the payment status of loans
Nonaccrual loans	22,795	27,468
Current	3,343,883	2,673,391
Total loans	3,376,784
Unamortized net deferred loan costs	(808)	(49)
Total loans	3,375,976	2,710,712
All Total Loans [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	6,482	8,471
All Total Loans [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	3,194	1,431
All Total Loans [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due	430
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,027	1,842
Current	382,282	259,879
Total loans	383,565	261,813
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	236	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	20
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	1,007	2,945
Current	443,985	351,081
Total loans	446,206	354,667
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	1,040	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	174	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	15,262	16,017
Current	759,414	729,732
Total loans	780,307	750,679
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	2,847	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	2,784	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	1,942	2,355
Current	317,214	234,821
Total loans	320,228	239,105
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	1,018	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	54	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	3,451	4,208
Current	1,368,065	1,042,807
Total loans	1,372,682	1,048,946
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	1,094	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	72	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	106	101
Current	56,644	54,557
Total loans	56,950	55,037
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	115	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	85	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	16,279	514
Total loans	16,846	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	132
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	5
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	$ 430

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		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Beginning balance	$ 23,546	$ 26,648	$ 23,781	$ 28,583	$ 28,583
Charge-offs	(1,866)	(1,857)	(4,071)	(5,961)	(10,414)
Recoveries	2,345	1,513	3,592	3,424	6,685
Transfers from covered status
Removed due to branch loan sale					(1,050)
Provisions		(281)	723	(23)	(23)
Ending balance	24,025	26,023	24,025	26,023	23,781
Ending balances: Allowance for loan losses
Individually evaluated for impairment	1,918	2,451	1,918	2,451	1,640
Collectively evaluated for impairment	22,107	23,572	22,107	23,572	22,141
Purchased credit impaired
Loans receivable:
Ending balance - total	3,376,784	2,597,060	3,376,784	2,597,060	2,710,761
Unamortized net deferred loan costs	(808)	1,074	(808)	1,074	(49)
Total loans	3,375,976	2,598,134	3,375,976	2,598,134	2,710,712
Ending balances: Loans
Individually evaluated for impairment	29,675	44,474	29,675	44,474	32,226
Collectively evaluated for impairment	3,330,263	2,551,825	3,330,263	2,551,825	2,678,021
Purchased credit impaired	16,846	761	16,846	761	514
Commercial, financial, and agricultural [Member]
Beginning balance	3,792	4,679	3,829	4,742	4,742
Charge-offs	(814)	(57)	(1,204)	(734)	(2,271)
Recoveries	220	216	518	302	805
Transfers from covered status		56		56	56
Removed due to branch loan sale					(263)
Provisions	232	(612)	287	(84)	760
Ending balance	3,430	4,282	3,430	4,282	3,829
Ending balances: Allowance for loan losses
Individually evaluated for impairment	8	14	8	14	7
Collectively evaluated for impairment	3,422	4,268	3,422	4,268	3,822
Purchased credit impaired
Loans receivable:
Ending balance - total	383,834	244,862	383,834	244,862	261,813
Ending balances: Loans
Individually evaluated for impairment	235	859	235	859	644
Collectively evaluated for impairment	383,330	244,003	383,330	244,003	261,169
Purchased credit impaired	269		269
Real estate - construction, land development & other land loans [Member]
Beginning balance	2,764	3,345	2,691	3,754	3,754
Charge-offs	(92)	(137)	(269)	(477)	(1,101)
Recoveries	981	121	1,471	211	1,422
Transfers from covered status		62		62	65
Removed due to branch loan sale					(39)
Provisions	(977)	(492)	(1,217)	(651)	(1,410)
Ending balance	2,676	2,899	2,676	2,899	2,691
Ending balances: Allowance for loan losses
Individually evaluated for impairment	182	172	182	172	184
Collectively evaluated for impairment	2,494	2,727	2,494	2,727	2,507
Purchased credit impaired
Loans receivable:
Ending balance - total	446,661	310,832	446,661	310,832	354,667
Ending balances: Loans
Individually evaluated for impairment	3,250	4,614	3,250	4,614	4,001
Collectively evaluated for impairment	442,956	306,218	442,956	306,218	350,666
Purchased credit impaired	455		455
Real estate mortgage residential (1-4 family) first mortgages [Member]
Beginning balance	7,376	7,374	7,704	7,832	7,832
Charge-offs	(353)	(740)	(1,247)	(2,691)	(3,815)
Recoveries	440	61	636	295	1,060
Transfers from covered status		51		51	839
Removed due to branch loan sale					(347)
Provisions	(378)	1,114	(8)	2,373	2,135
Ending balance	7,085	7,860	7,085	7,860	7,704
Ending balances: Allowance for loan losses
Individually evaluated for impairment	1,304	1,263	1,304	1,263	1,339
Collectively evaluated for impairment	5,781	6,597	5,781	6,597	6,365
Purchased credit impaired
Loans receivable:
Ending balance - total	783,759	683,367	783,759	683,367	750,679
Ending balances: Loans
Individually evaluated for impairment	17,083	20,201	17,083	20,201	20,807
Collectively evaluated for impairment	763,224	662,959	763,224	662,959	729,872
Purchased credit impaired	3,452	207	3,452	207
Real estate mortgage home equity loans / lines of credit [Member]
Beginning balance	2,138	2,267	2,420	2,893	2,893
Charge-offs	(347)	(285)	(578)	(734)	(969)
Recoveries	65	64	130	119	250
Transfers from covered status		12		12	293
Removed due to branch loan sale					(110)
Provisions	201	227	85	(5)	63
Ending balance	2,057	2,285	2,057	2,285	2,420
Ending balances: Allowance for loan losses
Individually evaluated for impairment		11		11	5
Collectively evaluated for impairment	2,057	2,274	2,057	2,274	2,415
Purchased credit impaired
Loans receivable:
Ending balance - total	320,953	228,906	320,953	228,906	239,105
Ending balances: Loans
Individually evaluated for impairment	54	383	54	383	280
Collectively evaluated for impairment	320,174	228,523	320,174	228,523	238,825
Purchased credit impaired	725		725
Real estate - mortgage - commercial and other [Member]
Beginning balance	5,979	5,940	5,098	5,816	5,816
Charge-offs	(88)	(396)	(414)	(562)	(1,005)
Recoveries	555	155	698	285	836
Transfers from covered status		126		126	127
Removed due to branch loan sale					(228)
Provisions	(293)	(254)	771	(94)	(448)
Ending balance	6,153	5,571	6,153	5,571	5,098
Ending balances: Allowance for loan losses
Individually evaluated for impairment	424	478	424	478	105
Collectively evaluated for impairment	5,729	5,093	5,729	5,093	4,993
Purchased credit impaired
Loans receivable:
Ending balance - total	1,384,569	1,000,319	1,384,569	1,000,319	1,049,460
Ending balances: Loans
Individually evaluated for impairment	9,053	12,845	9,053	12,845	6,494
Collectively evaluated for impairment	1,363,629	986,926	1,363,629	986,926	1,042,452
Purchased credit impaired	11,887	548	11,887	548	514
Installment loans to individuals [Member]
Beginning balance	1,067	1,202	1,145	1,051	1,051
Charge-offs	(172)	(238)	(359)	(518)	(1,008)
Recoveries	84	140	139	253	354
Transfers from covered status
Removed due to branch loan sale					(63)
Provisions	95	376	149	694	811
Ending balance	1,074	1,480	1,074	1,480	1,145
Ending balances: Allowance for loan losses
Individually evaluated for impairment		70		70
Collectively evaluated for impairment	1,074	1,410	1,074	1,410	1,145
Purchased credit impaired
Loans receivable:
Ending balance - total	57,008	50,387	57,008	50,387	55,037
Ending balances: Loans
Individually evaluated for impairment		72		72
Collectively evaluated for impairment	56,950	50,315	56,950	50,315	55,037
Purchased credit impaired	58		58
Unallocated [Member]
Beginning balance	430	442	894	696	696
Charge-offs					(1)
Recoveries
Transfers from covered status					1
Removed due to branch loan sale
Provisions	1,120	130	656	(124)	198
Ending balance	1,550	572	1,550	572	894
Ending balances: Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	1,550	572	1,550	572	894
Purchased credit impaired
Loans receivable:
Ending balance - total
Ending balances: Loans
Individually evaluated for impairment
Collectively evaluated for impairment
Purchased credit impaired
Covered [Member]
Beginning balance		1,399		1,799	1,799
Charge-offs		(4)		(245)	(244)
Recoveries		756		1,959	1,958
Transfers from covered status		(307)		(307)	(1,381)
Removed due to branch loan sale
Provisions		(770)		(2,132)	(2,132)
Ending balance		1,074		1,074
Ending balances: Allowance for loan losses
Individually evaluated for impairment		443		443
Collectively evaluated for impairment		631		631
Purchased credit impaired
Loans receivable:
Ending balance - total		78,387		78,387
Ending balances: Loans
Individually evaluated for impairment		5,500		5,500
Collectively evaluated for impairment		72,881		72,881
Purchased credit impaired		$ 6		$ 6

Loans and Asset Quality Infor58

Loans and Asset Quality Information (Schedule of Impaired Loans) (Details) - All Total Loans [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	$ 11,937	$ 18,561
Impaired loans with no related allowance - Unpaid Principal Balance	14,339	22,744
Impaired loans with no related allowance - Average Recorded Investment	14,683	23,770
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	17,738	13,665
Impaired loans with allowance - Unpaid Principal Balance	18,002	13,951
Impaired loans with related allowance - Related Allowance	1,918	1,640
Impaired loans with related allowance - Average Recorded Investment	16,382	19,645
Commercial, financial, and agricultural [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	188	593
Impaired loans with no related allowance - Unpaid Principal Balance	426	706
Impaired loans with no related allowance - Average Recorded Investment	337	816
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	47	51
Impaired loans with allowance - Unpaid Principal Balance	47	51
Impaired loans with related allowance - Related Allowance	8	7
Impaired loans with related allowance - Average Recorded Investment	124	202
Real estate - construction, land development & other land loans [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	2,711	3,221
Impaired loans with no related allowance - Unpaid Principal Balance	3,881	4,558
Impaired loans with no related allowance - Average Recorded Investment	2,883	3,641
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	539	780
Impaired loans with allowance - Unpaid Principal Balance	557	798
Impaired loans with related allowance - Related Allowance	182	184
Impaired loans with related allowance - Average Recorded Investment	682	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	6,682	10,035
Impaired loans with no related allowance - Unpaid Principal Balance	7,424	12,220
Impaired loans with no related allowance - Average Recorded Investment	7,890	11,008
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	10,401	10,772
Impaired loans with allowance - Unpaid Principal Balance	10,622	11,007
Impaired loans with related allowance - Related Allowance	1,304	1,339
Impaired loans with related allowance - Average Recorded Investment	10,755	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	54	114
Impaired loans with no related allowance - Unpaid Principal Balance	80	146
Impaired loans with no related allowance - Average Recorded Investment	76	139
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment		166
Impaired loans with allowance - Unpaid Principal Balance		166
Impaired loans with related allowance - Related Allowance		5
Impaired loans with related allowance - Average Recorded Investment	110	324
Real estate - mortgage - commercial and other [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment	2,302	4,598
Impaired loans with no related allowance - Unpaid Principal Balance	2,528	5,112
Impaired loans with no related allowance - Average Recorded Investment	3,496	8,165
Loans with an allowance recorded:
Impaired loans with allowance - Recorded Investment	6,751	1,896
Impaired loans with allowance - Unpaid Principal Balance	6,776	1,929
Impaired loans with related allowance - Related Allowance	424	105
Impaired loans with related allowance - Average Recorded Investment	4,711	4,912
Installment loans to individuals [Member]
Loans with no related allowance recorded:
Impaired loans with no related allowance - Recorded Investment
Impaired loans with no related allowance - Unpaid Principal Balance		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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Recorded investment in loans by credit quality indicators:
Total	$ 3,376,784	$ 2,710,761
Unamortized net deferred loan costs	(808)	(49)	$ 1,074
Total loans	3,375,976	2,710,712	2,598,134
Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	3,224,167	2,547,664
Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	60,910	64,558
Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	68,912	71,071
Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	22,795	27,468
Commercial, financial, and agricultural [Member]
Recorded investment in loans by credit quality indicators:
Total	383,565	261,813
Commercial, financial, and agricultural [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	372,670	247,451
Commercial, financial, and agricultural [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	8,517	10,560
Commercial, financial, and agricultural [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	1,351	1,960
Commercial, financial, and agricultural [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	1,027	1,842
Real estate construction, land development & other land loans [Member]
Recorded investment in loans by credit quality indicators:
Total	446,206	354,667
Real estate construction, land development & other land loans [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	430,501	335,068
Real estate construction, land development & other land loans [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	7,365	8,762
Real estate construction, land development & other land loans [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	7,333	7,892
Real estate construction, land development & other land loans [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	1,007	2,945
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Recorded investment in loans by credit quality indicators:
Total	780,307	750,679
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	715,645	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	14,401	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	34,999	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	15,262	16,017
Real estate mortgage home equity loans / lines of credit [Member]
Recorded investment in loans by credit quality indicators:
Total	320,228	239,105
Real estate mortgage home equity loans / lines of credit [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	308,378	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	1,415	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	8,493	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	1,942	2,355
Real estate mortgage commercial and other [Member]
Recorded investment in loans by credit quality indicators:
Total	1,372,682	1,048,946
Real estate mortgage commercial and other [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	1,333,782	1,005,687
Real estate mortgage commercial and other [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	23,728	26,032
Real estate mortgage commercial and other [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	11,721	13,019
Real estate mortgage commercial and other [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	3,451	4,208
Installment loans to individuals [Member]
Recorded investment in loans by credit quality indicators:
Total	56,950	55,037
Installment loans to individuals [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	56,238	54,421
Installment loans to individuals [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	227	256
Installment loans to individuals [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	379	259
Installment loans to individuals [Member] | Classified Nonaccrual Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	106	101
Purchased credit impaired [Member]
Recorded investment in loans by credit quality indicators:
Total	16,846	514
Purchased credit impaired [Member] | Pass [Member]
Recorded investment in loans by credit quality indicators:
Total	6,953
Purchased credit impaired [Member] | Special Mention Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	5,257	514
Purchased credit impaired [Member] | Classified Accruing Loans [Member]
Recorded investment in loans by credit quality indicators:
Total	4,636
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		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
All Total Loans [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs	5		7
Pre-Modification Restructured Balances, TDRs	$ 1,247		$ 3,797
Post-Modification Restructured Balances, TDRs	$ 1,247		$ 3,772
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing
Pre-Modification Restructured Balances, TDRs - Accruing
Post-Modification Restructured Balances, TDRs - Accruing
Number of contracts, TDRs Nonaccrual
Pre-Modification Restructured Balances, TDRs Nonaccrual
Post-Modification Restructured Balances, TDRs Nonaccrual
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
Pre-Modification Restructured Balances, TDRs - Accruing
Post-Modification Restructured Balances, TDRs - Accruing
Number of contracts, TDRs Nonaccrual	1		1
Pre-Modification Restructured Balances, TDRs Nonaccrual	$ 32		$ 32
Post-Modification Restructured Balances, TDRs Nonaccrual	$ 32		32
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
Pre-Modification Restructured Balances, TDRs - Accruing
Post-Modification Restructured Balances, TDRs - Accruing
Number of contracts, TDRs Nonaccrual	1		1
Pre-Modification Restructured Balances, TDRs Nonaccrual	$ 215		$ 215
Post-Modification Restructured Balances, TDRs Nonaccrual	$ 215		215
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
Pre-Modification Restructured Balances, TDRs - Accruing
Post-Modification Restructured Balances, TDRs - Accruing
Number of contracts, TDRs Nonaccrual
Pre-Modification Restructured Balances, TDRs Nonaccrual
Post-Modification Restructured Balances, TDRs Nonaccrual
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	3		5
Pre-Modification Restructured Balances, TDRs - Accruing	$ 1,000		$ 3,550
Post-Modification Restructured Balances, TDRs - Accruing	$ 1,000		3,525
Number of contracts, TDRs Nonaccrual
Pre-Modification Restructured Balances, TDRs Nonaccrual
Post-Modification Restructured Balances, TDRs Nonaccrual
All Total Loans [Member] | Installment loans to individuals [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing
Pre-Modification Restructured Balances, TDRs - Accruing
Post-Modification Restructured Balances, TDRs - Accruing
Number of contracts, TDRs Nonaccrual
Pre-Modification Restructured Balances, TDRs Nonaccrual
Post-Modification Restructured Balances, TDRs Nonaccrual
Covered [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs
Pre-Modification Restructured Balances, TDRs
Post-Modification Restructured Balances, TDRs

Loans and Asset Quality Infor61

Loans and Asset Quality Information (Schedule of Accruing Restructured Loans Defaulted in Period) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
All Total Loans [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequently defaulted	1		2	2
Recorded Investment - Subsequently defaulted	$ 254		$ 880	$ 65
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequently defaulted				1
Recorded Investment - Subsequently defaulted				$ 44
All Total Loans [Member] | Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequently defaulted	1		2
Recorded Investment - Subsequently defaulted	$ 254		$ 880
All Total Loans [Member] | Real estate - mortgage - commercial and other [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequently defaulted				1
Recorded Investment - Subsequently defaulted				$ 21
Covered [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequently defaulted				1
Recorded Investment - Subsequently defaulted				$ 44

Deferred Loan (Fees) Costs (Det

Deferred Loan (Fees) Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Deferred Loan Costs [Abstract]
Net deferred loan costs	$ (808)	$ (49)	$ 1,074

FDIC Indemnification Asset (Sch

FDIC Indemnification Asset (Schedule of FDIC Indemnification Asset Components) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
FDIC indemnification asset components
Receivable (payable) related to loss claims incurred (recoveries), not yet received (paid), net			$ (1,542)
Receivable related to estimated future claims on loans			6,383
Receivable related to estimated future claims on foreclosed real estate			316
FDIC indemnification asset			$ 5,157	$ 8,439

FDIC Indemnification Asset (Rol

FDIC Indemnification Asset (Rollforward of the FDIC Indemnification Asset) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Rollforward of the FDIC indemnification asset
FDIC indemnification asset, beginning	$ 8,439
Decrease related to favorable changes in loss estimates	(2,246)
Increase related to reimbursable expenses	205
Cash paid (received)	738
Related to accretion of loan discount	(2,005)
Other	26
FDIC indemnification asset, ending	$ 5,157

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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Amortization expense of intangible assets					$ 1,031		$ 261	$ 1,607	$ 447
Goodwill acquired			$ 4,333	$ 1,693
Other amortizable intangible assets			940	92
Net increase in goodwill	$ 65,302	$ 1,961
Net increase in core deposit premiums	$ 8,790	$ 1,170
Servicing assets						$ 415		513
Additional amortization expense of servicing assets								$ 66
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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Amortizable intangible assets:
Customer lists	$ 2,369	$ 2,369	$ 2,369
Customer Lists Accumulated Amortization	866	746	624
Core deposit premiums	18,520	9,730	8,560
Core Deposit premiums accumulated amortization	9,404	8,143	7,660
Other	1,032	1,032	1,032
Other Accumulated Amortization	381	224	65
Gross Carrying Amount	21,921	13,131	11,961
Accumulated Amortization	10,651	9,113	8,349
SBA servicing asset	862	415
Unamortizable intangible assets:
Goodwill	$ 139,124	$ 75,042	$ 73,541

Goodwill and Other Intangible67

Goodwill and Other Intangible Assets (Schedule of the Estimated Amortization Expense) (Details) $ in Thousands	Jun. 30, 2017USD ($)
The estimated amortization expense for five succeeding years:
July 1 to December 31, 2017	$ 1,615
2,018	2,862
2,019	2,314
2,020	1,750
2,021	1,288
Thereafter	1,441
Total	$ 11,270

Pension Plans (Narrative) (Deta

Pension Plans (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Retirement Benefits [Abstract]
Net periodic pension cost (income)	$ 241	$ 162	$ 403	$ 325

Pension Plans (Details)

Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Service cost	$ 32	$ 27	$ 59	$ 53
Interest cost	403	435	838	870
Expected return on plan assets	(730)	(675)	(1,405)	(1,350)
Amortization of transition obligation
Amortization of net (gain)/loss	54	51	105	102
Amortization of prior service cost
Net periodic pension (income)/cost	(241)	(162)	(403)	(325)
Pension Plan [Member]
Service cost
Interest cost	350	376	725	752
Expected return on plan assets	(730)	(675)	(1,405)	(1,350)
Amortization of transition obligation
Amortization of net (gain)/loss	62	60	122	120
Amortization of prior service cost
Net periodic pension (income)/cost	(318)	(239)	(558)	(478)
SERP [Member]
Service cost	32	27	59	53
Interest cost	53	59	113	118
Expected return on plan assets
Amortization of transition obligation
Amortization of net (gain)/loss	(8)	(9)	(17)	(18)
Amortization of prior service cost
Net periodic pension (income)/cost	$ 77	$ 77	$ 155	$ 153

Comprehensive Income (Loss) (Sc

Comprehensive Income (Loss) (Schedule of Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
The components of accumulated other comprehensive income (loss):
Total accumulated other comprehensive income (loss)	$ (2,932)	$ (5,107)	$ (1,728)	$ (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)	252	(3,085)	1,722
Deferred tax asset (liability)	(93)	1,138	(671)
Total accumulated other comprehensive income (loss)	159	(1,947)	1,051	(709)
Additional pension asset (liability) [Member]
The components of accumulated other comprehensive income (loss):
Total accumulated other comprehensive income (loss)	(4,907)	(5,012)	(4,555)
Deferred tax asset (liability)	1,816	1,852	1,776
Total accumulated other comprehensive income (loss)	$ (3,091)	$ (3,160)	$ (2,779)	$ (2,841)

Comprehensive Income (Loss) (71

Comprehensive Income (Loss) (Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Accumulated other comprehensive income (loss), beginning balance	$ (5,107)	$ (3,550)
Other comprehensive income (loss) before reclassifications	1,958	1,762
Amounts reclassified from accumulated other comprehensive income	217	60
Net current-period other comprehensive income (loss)	2,175	1,822
Accumulated other comprehensive income (loss), ending balance	(2,932)	(1,728)
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	1,958	1,762
Amounts reclassified from accumulated other comprehensive income	148	(2)
Net current-period other comprehensive income (loss)	2,106	1,760
Accumulated other comprehensive income (loss), ending balance	159	1,051
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	69	62
Net current-period other comprehensive income (loss)	69	62
Accumulated other comprehensive income (loss), ending balance	$ (3,091)	$ (2,779)

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Fair Value [Abstract]
Increase in fair value of securities available for sale	$ 3,102	$ 2,888
Tax expense of increase in fair value of securities available for sale	$ 1,144	$ 1,126

Fair Value (Financial instrumen

Fair Value (Financial instruments Measured at Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Securities available for sale:
Total available for sale securities	$ 207,496	$ 199,329	$ 219,762
Impaired loans and foreclosed real estate:
Foreclosed real estate	11,196	9,532	$ 10,606
Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale:
Total available for sale securities	207,496	199,329
Recurring [Member] | Quoted Prices in Markets 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] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale:
Government-sponsored enterprise securities	16,498	17,490
Mortgage-backed securities	156,601	148,065
Corporate bonds	34,397	33,600
Equity securities		174
Total available for sale securities	207,496	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	16,498	17,490
Mortgage-backed securities	156,601	148,065
Corporate bonds	34,397	33,600
Equity securities		174
Total available for sale securities	207,496	199,329
Nonrecurring [Member] | Quoted Prices in Markets for Identical Assets (Level 1) [Member]
Impaired loans and foreclosed real estate:
Impaired loans
Foreclosed real estate
Nonrecurring [Member] | Significant Other Observable 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	15,848	12,284
Foreclosed real estate	11,196	9,532
Nonrecurring [Member] | Fair Value [Member]
Impaired loans and foreclosed real estate:
Impaired loans	15,848	12,284
Foreclosed real estate	$ 11,196	$ 9,532

Fair Value (Level 3 assets and

Fair Value (Level 3 assets and liabilities measured at fair value) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Impaired loans	$ 15,848	$ 12,284
Foreclosed real estate	$ 11,196	$ 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	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	$ 80,234	$ 71,645	$ 58,956
Due from banks, interest-bearing	337,326	234,348	189,404
Securities available for sale	207,496	199,329	219,762
Securities held to maturity	127,866	129,713	142,073
Total loans, net of allowance	3,351,951	2,686,931	2,572,111
Accrued interest receivable	10,830	9,286	9,152
Bank-owned life insurance	87,501	74,138	73,098
Accrued interest payable	1,014	539	$ 586
Carrying Amount [Member] | Quoted Prices in Markets for Identical Assets (Level 1) [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	80,234	71,645
Due from banks, interest-bearing	337,326	234,348
Presold mortgages in process of settlement	13,071	2,116
Accrued interest receivable	10,830	9,286
Bank-owned life insurance	87,501	74,138
Carrying Amount [Member] | Significant Other Observable Inputs (Level 2) [Member]
Carrying amounts and estimated fair values of financial instruments:
Securities available for sale	207,496	199,329
Securities held to maturity	127,866	129,713
Deposits	3,644,330	2,947,353
Borrowings	355,405	271,394
Accrued interest payable	1,014	539
Carrying Amount [Member] | Significant Unobservable Inputs (Level 3) [Member]
Carrying amounts and estimated fair values of financial instruments:
Total loans, net of allowance	3,351,951	2,686,931
Fair Value [Member] | Quoted Prices in Markets for Identical Assets (Level 1) [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	80,234	71,645
Due from banks, interest-bearing	337,326	234,348
Presold mortgages in process of settlement	13,071	2,116
Accrued interest receivable	10,830	9,286
Bank-owned life insurance	87,501	74,138
Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Carrying amounts and estimated fair values of financial instruments:
Securities available for sale	207,496	199,329
Securities held to maturity	129,697	130,195
Deposits	3,640,874	2,944,968
Borrowings	343,754	263,255
Accrued interest payable	1,014	539
Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Carrying amounts and estimated fair values of financial instruments:
Total loans, net of allowance	$ 3,293,944	$ 2,650,820

Series C Preferred Stock (Narra

Series C Preferred Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 21, 2012	Dec. 22, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Preferred stock dividends				$ 59		$ 117
Series C Preferred Stock [Member]
Stock issued, shares	728,706
Stock sold price per share	$ 10
Preferred stock dividends				$ 59		$ 117
Number of shares exchanged		728,706
Common Stock [Member]
Stock issued, shares	2,656,294
Common Stock [Member] | Series C Preferred Stock [Member]
Net proceeds from the sale of preferred and common stock	$ 33,800

Pending Acquisition (Details)

Pending Acquisition (Details) - Asheville Savings Bank [Member] $ / shares in Units, $ in Thousands	May 01, 2017USD ($)$ / sharesshares	Jun. 30, 2017USD ($)	Apr. 28, 2017$ / shares
Restructuring Cost and Reserve [Line Items]
Cash and Stock transaction value	$ 175,000
Closing stock price | $ / shares			$ 43.12
Banking location		13
Assets		$ 801,000
Gross loan		614,000
Deposits		$ 677,000
First Bancorp Plans [Member]
Restructuring Cost and Reserve [Line Items]
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%