First Bancorp (FBNC) 10-K 1 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Feb. 28, 2018	Jun. 30, 2017
Document And Entity Information
Entity Registrant Name	FIRST BANCORP /NC/
Entity Central Index Key	811,589
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		29,654,718
Entity Public Float			$ 757,969,473
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and due from banks, noninterest-bearing	$ 114,301	$ 71,645
Due from banks, interest-bearing	375,189	234,348
Total cash and cash equivalents	489,490	305,993
Securities available for sale	343,270	199,329
Securities held to maturity (fair values of $118,998 in 2017 and $130,195 in 2016)	118,503	129,713
Presold mortgages in process of settlement	12,459	2,116
Loans	4,042,369	2,710,712
Allowance for loan losses	(23,298)	(23,781)
Net loans	4,019,071	2,686,931
Premises and equipment	116,233	75,351
Accrued interest receivable	14,094	9,286
Goodwill	233,070	75,042
Other intangible assets	24,437	4,433
Foreclosed real estate	12,571	9,532
Bank-owned life insurance	99,162	74,138
Other assets	64,677	42,998
Total assets	5,547,037	3,614,862
Liabilities
Deposits: Noninterest-bearing checking accounts	1,196,161	756,003
Interest-bearing checking accounts	884,254	635,431
Money market accounts	984,945	685,331
Savings accounts	454,860	209,074
Time deposits	593,123	422,687
Other time deposits	293,612	238,827
Total deposits	4,406,955	2,947,353
Borrowings	407,543	271,394
Accrued interest payable	1,235	539
Other liabilities	38,325	27,475
Total liabilities	4,854,058	3,246,761
Commitments and contingencies (see Note 13)
Shareholders' Equity
Preferred stock, no par value per share.Authorized: 5,000,000 shares Series C, convertible, issued & outstanding:none in 2017 and 2016
Common stock, no par value per share.Authorized: 40,000,000 shares Issued & outstanding:29,639,374 shares in 2017 and 20,844,505 shares in 2016	432,794	147,287
Retained earnings	264,331	225,921
Stock in rabbi trust assumed in acquisition	(3,581)
Rabbi trust obligation	3,581
Accumulated other comprehensive income (loss)	(4,146)	(5,107)
Total shareholders' equity	692,979	368,101
Total liabilities and shareholders' equity	$ 5,547,037	$ 3,614,862

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Securities held to maturity fair values	$ 118,998	$ 130,195
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	29,639,374	20,844,505
Common stock, shares outstanding	29,639,374	20,844,505
Series C Preferred Stock [Member]
Preferred stock, shares issued
Preferred stock, shares outstanding

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Interest Income
Interest and fees on loans	$ 163,738	$ 121,322	$ 117,872
Interest on investment securities:
Taxable interest income	8,310	7,034	6,296
Tax-exempt interest income	1,677	1,748	1,829
Other, principally overnight investments	3,657	883	658
Total interest income	177,382	130,987	126,655
Interest Expense
Savings, checking and money market accounts	2,761	1,620	1,192
Time deposits	4,005	2,654	2,856
Other time deposits	778	896	1,271
Borrowings	5,127	2,437	1,589
Total interest expense	12,671	7,607	6,908
Net interest income	164,711	123,380	119,747
Provision for loan losses - non-covered	723	2,109	2,008
Provision (reversal) for loan losses - covered		(2,132)	(2,788)
Total provision (reversal) for loan losses	723	(23)	(780)
Net interest income after provision for loan losses	163,988	123,403	120,527
Noninterest Income
Service charges on deposit accounts	11,862	10,571	11,648
Other service charges, commissions and fees	14,610	11,913	10,906
Fees from presold mortgage loans	5,695	2,033	2,532
Commissions from sales of insurance and financial products	5,300	3,790	2,580
SBA consulting fees	4,024	3,199
SBA loan sale gains	5,479	1,433
Bank-owned life insurance income	2,321	2,052	1,665
Foreclosed property losses, net	(531)	(625)	(1,486)
FDIC indemnification asset income (expense), net		(10,255)	(8,615)
Securities gains (losses), net	(235)	3	(1)
Gain on branch sale		1,466
Other gains (losses), net	383	(29)	(465)
Total noninterest income	48,908	25,551	18,764
Noninterest Expenses
Salaries	66,786	51,252	47,660
Employee benefits	14,389	10,812	9,134
Total personnel expense	81,175	62,064	56,794
Occupancy expense	9,661	7,838	7,358
Equipment related expenses	4,480	3,608	3,749
Merger and acquisition expenses	8,073	1,431
Intangibles amortization	4,240	1,211	722
Other operating expenses	37,528	30,669	29,508
Total noninterest expenses	145,157	106,821	98,131
Income before income taxes	67,739	42,133	41,160
Income tax expense	21,767	14,624	14,126
Net income	45,972	27,509	27,034
Preferred stock dividends		(175)	(603)
Net income available to common shareholders	$ 45,972	$ 27,334	$ 26,431
Earnings per common share: Basic	$ 1.82	$ 1.37	$ 1.34
Earnings per common share: Diluted	1.82	1.33	1.30
Dividends declared per common share	$ 0.32	$ 0.32	$ 0.32
Weighted average common shares outstanding:
Basic	25,210,606	19,964,727	19,767,470
Diluted	25,291,382	20,732,917	20,499,727

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 45,972	$ 27,509	$ 27,034
Unrealized gains (losses) on securities available for sale:
Unrealized holding gains (losses) arising during the period, pretax	639	(1,919)	(473)
Tax (expense) benefit	(234)	683	184
Reclassification to realized (gains) losses	235	(3)	1
Tax expense (benefit)	(87)	1
Postretirement plans:
Net gain (loss) arising during period	1,601	(557)	(4,321)
Tax (expense) benefit	(593)	115	1,685
Amortization of unrecognized net actuarial (gain) loss	211	202	(79)
Tax expense (benefit)	(75)	(79)	31
Other comprehensive income (loss)	1,697	(1,557)	(2,972)
Comprehensive income	$ 47,669	$ 25,952	$ 24,062

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Retained Earnings [Member]	Stock in rabbit trust assumed in acquisition [Member]	Rabbi trust obligation [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning balance at Dec. 31, 2014	$ 70,787	$ 132,532	$ 184,958			$ (578)	$ 387,699
Beginning balance, shares at Dec. 31, 2014		19,710					19,709,881
Net income			27,034				$ 27,034
Cash dividends declared ($0.32 per common share)			(6,329)				(6,329)
Preferred stock redeemed (Series B)	(63,500)						(63,500)
Preferred stock dividends			(603)				(603)
Stock option exercises		$ 112					112
Stock option exercises, shares		7
Stock withheld for payment of taxes		$ (54)					(54)
Stock withheld for payment of taxes, shares		(3)
Stock-based compensation		$ 803					803
Stock-based compensation, shares		34
Other comprehensive income (loss)						(2,972)	(2,972)
Ending balance at Dec. 31, 2015	7,287	$ 133,393	205,060			(3,550)	$ 342,190
Ending balance, shares at Dec. 31, 2015		19,748					19,747,509
Net income			27,509				$ 27,509
Cash dividends declared ($0.32 per common share)			(6,473)				(6,473)
Preferred stock dividends			(175)				(175)
Conversion of preferred stock to common stock	(7,287)	$ 7,287
Conversion of preferred stock to common stock, shares		729
Equity issued pursuant to acquisitions		$ 5,509					5,509
Equity issued pursuant to acquisitions, shares		279
Stock option exercises		$ 375					375
Stock option exercises, shares		23
Stock withheld for payment of taxes		$ (166)					(166)
Stock withheld for payment of taxes, shares		(6)
Stock-based compensation		$ 889					889
Stock-based compensation, shares		72
Other comprehensive income (loss)						(1,557)	(1,557)
Ending balance at Dec. 31, 2016		$ 147,287	225,921			(5,107)	$ 368,101
Ending balance, shares at Dec. 31, 2016		20,845					20,844,505
Net income			45,972				$ 45,972
Cash dividends declared ($0.32 per common share)			(8,298)				(8,298)
Equity issued pursuant to acquisitions		$ 284,192		(7,688)	7,688		284,192
Equity issued pursuant to acquisitions, shares		8,733
Payment of deferred fees				4,107	(4,107)
Stock option exercises		$ 287					287
Stock option exercises, shares		18
Stock withheld for payment of taxes		$ (231)					(231)
Stock withheld for payment of taxes, shares		(7)
Stock-based compensation		$ 1,259					1,259
Stock-based compensation, shares		50
Reclassification of accumulated other comprehensive income due to statutory tax changes			736			(736)
Other comprehensive income (loss)						1,697	1,697
Ending balance at Dec. 31, 2017		$ 432,794	$ 264,331	$ (3,581)	$ 3,581	$ (4,146)	$ 692,979
Ending balance, shares at Dec. 31, 2017		29,639					29,639,374

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share	$ 0.32	$ 0.32	$ 0.32

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flows From Operating Activities
Net income	$ 45,972	$ 27,509	$ 27,034
Reconciliation of net income to net cash provided by operating activities:
Provision (reversal) for loan losses	723	(23)	(780)
Net security premium amortization	2,908	3,341	3,247
Loan discount accretion	(7,076)	(4,451)	(4,751)
Purchase accounting accretion and amortization, net	(236)
FDIC indemnification asset expense, net		10,255	8,615
Foreclosed property losses and write-downs, net	531	625	1,486
Loss (gain) on securities available for sale	235	(3)	1
Other (gains) losses	(383)	29	465
Decrease in net deferred loan costs	975	922	73
Depreciation of premises and equipment	5,493	4,602	4,494
Stock-based compensation expense	1,095	714	710
Amortization of intangible assets	4,240	1,211	722
Fees/gains from sale of presold mortgage and SBA loans	(11,174)	(3,466)	(2,532)
Originations of presold mortgage loans in process of settlement	(228,871)	(76,912)	(97,118)
Proceeds from sales of presold mortgage loans in process of settlement	235,493	81,127	101,315
Origination of SBA loans for sale	(95,436)	(24,784)
Proceeds from sales of SBA loans	77,034	20,021
Gain on sale of branches		(1,466)
Increase in accrued interest receivable	(1,072)	(120)	(246)
Decrease (increase) in other assets	6,724	(724)	(5,062)
Increase (decrease) in accrued interest payable	392	(4)	(101)
Increase (decrease) in other liabilities	(10,729)	2,868	(222)
Net cash provided by operating activities	26,838	41,271	37,350
Cash Flows From Investing Activities
Purchases of securities available for sale	(191,260)	(114,396)	(95,822)
Purchases of securities held to maturity	(291)		(857)
Proceeds from maturities/issuer calls of securities available for sale	37,974	76,939	86,238
Proceeds from maturities/issuer calls of securities held to maturity	22,344	23,368	23,203
Proceeds from sales of securities available for sale	140,621	8
Purchases of Federal Reserve and Federal Home Loan Bank stock, net	(9,947)	(3,933)	(9,877)
Purchase of bank-owned life insurance			(15,000)
Net increase in loans	(204,631)	(192,393)	(138,346)
(Payments) proceeds related to FDIC loss share agreements		(1,554)	6,673
Payment to FDIC for termination of loss share agreements		(2,012)
Proceeds from sales of foreclosed real estate	8,647	7,954	9,650
Purchases of premises and equipment	(4,659)	(8,689)	(5,481)
Proceeds from sales of premises and equipment	151	2,025	1,621
Proceeds from branch sale		26,211
Net cash received (paid) in acquisitions	72,519	(53,640)
Net cash used by investing activities	(128,532)	(240,112)	(137,998)
Cash Flows From Financing Activities
Net increase in deposits	195,468	158,989	115,379
Net increase in borrowings	97,263	85,000	70,000
Cash dividends paid - common stock	(7,596)	(6,399)	(6,309)
Cash dividends paid - preferred stock		(233)	(796)
Redemption of preferred stock			(63,500)
Proceeds from stock option exercises	287	375	112
Stock withheld for payment of taxes	(231)	(166)	(54)
Net cash provided by financing activities	285,191	237,566	114,832
Increase in Cash and Cash Equivalents	183,497	38,725	14,184
Cash and Cash Equivalents, Beginning of Year	305,993	267,268	253,084
Cash and Cash Equivalents, End of Year	489,490	305,993	267,268
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for interest	12,239	7,653	7,009
Cash paid during the period for income taxes	19,537	11,791	13,815
Non-cash investing and financing transactions:
Foreclosed loans transferred to foreclosed real estate	5,452	8,117	9,009
Unrealized gain (loss) on securities available for sale, net of taxes	$ 553	$ (1,238)	$ (288)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies (a) Basis of Presentation - The consolidated financial statements include the accounts of First Bancorp (the “Company”) and its wholly owned subsidiary - First Bank (the “Bank”). The Bank has three wholly owned subsidiaries that are fully consolidated - First Bank Insurance Services, Inc. (“First Bank Insurance”), SBA Complete, Inc. (“SBA Complete”), and First Troy SPE, LLC. All significant intercompany accounts and transactions have been eliminated. Subsequent events have been evaluated through the date of filing this Form 10-K. The Company is a bank holding company. The principal activity of the Company is the ownership and operation of the Bank, a state chartered bank with its main office in Southern Pines, North Carolina. The Company is also the parent company for a series of statutory trusts that were formed at various times since 2002 for the purpose of issuing trust preferred debt securities. The trusts are not consolidated for financial reporting purposes; however, notes issued by the Company to the trusts in return for the proceeds from the issuance of the trust preferred securities are included in the consolidated financial statements and have terms that are substantially the same as the corresponding trust preferred securities. The trust preferred securities qualify as capital for regulatory capital adequacy requirements. First Bank Insurance is an agent for property and casualty insurance policies. SBA Complete is a firm that specializes in providing consulting services for financial institutions across the country related to Small Business Administration (“SBA”) loan origination and servicing. First Troy SPE, LLC was formed in order to hold and dispose of certain real estate foreclosed upon by the Bank. The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates made by the Company in the preparation of its consolidated financial statements are the determination of the allowance for loan losses, the valuation of other real estate, the accounting and impairment testing related to intangible assets, and the fair value and discount accretion of acquired loans. (b) Reclassifications - Certain amounts for prior years have been reclassified to conform to the 2017 presentation. The reclassifications had no effect on net income or shareholders’ equity as previously presented, nor did they materially impact trends in financial information. (c) Business Combinations The Company typically issues common stock and/or pays cash for an acquisition, depending on the terms of the acquisition agreement. The value of common shares issued is determined based on the market price of the stock as of the closing of the acquisition. (d) Cash and Cash Equivalents - The Company considers all highly liquid assets such as cash on hand, noninterest-bearing and interest-bearing amounts due from banks and federal funds sold to be “cash equivalents.” (e) Securities - Debt securities that the Company has the positive intent and ability to hold to maturity are classified as “held to maturity” and carried at amortized cost. Securities not classified as held to maturity are classified as “available for sale” and carried at fair value, with unrealized gains and losses being reported as other comprehensive income or loss and reported as a separate component of shareholders’ equity. A decline in the market value of any available for sale or held to maturity security below cost that is deemed to be other than temporary results in a reduction in carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. Any equity security that is in an unrealized loss position for twelve consecutive months is presumed to be other than temporarily impaired and an impairment charge is recorded unless the amount of the charge is insignificant. Gains and losses on sales of securities are recognized at the time of sale based upon the specific identification method. Premiums and discounts are amortized into income on a level yield basis, with premiums being amortized to the earliest call date and discounts being accreted to the stated maturity date. (f) Premises and Equipment - Premises and equipment are stated at cost less accumulated depreciation. Depreciation, computed by the straight-line method, is charged to operations over the estimated useful lives of the properties, which range from 2 to 40 years or, in the case of leasehold improvements, over the term of the lease, if shorter. Maintenance and repairs are charged to operations in the year incurred. Gains and losses on dispositions are included in current operations. (g) Loans – The Company does not hold a significant amount of interest-only strips, loans, other receivables, or retained interests in securitizations that can be contractually prepaid or otherwise settled in a way that it would not recover substantially all of its recorded investment. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date. No allowance for loan losses is carried over from the seller or otherwise recorded on the purchase date. The Company follows specific accounting guidance related to purchased impaired loans. A loan is considered to be a purchased credit impaired loan when purchased loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the Company will not collect all contractually required principal and interest payments. Evidence of credit quality deterioration as of the purchase date may include statistics such as past due, risk grade and nonaccrual status. At the acquisition date, when possible, a stream of expected cash flows is estimated and compared to the estimated fair value in order to determine the accretable yield amount, which is then recognized over the life of the loan based on the effective yield method. Throughout the life of the loan, the stream of expected cash flows may change based on actual results of the loan or the assumptions related to the future performance. Subsequent changes of expected cash flows may result in changes to accretable yield if the present value of expected cash flows exceeds the carrying value or an impairment reserve if the present value of expected cash flows is less than the carrying amount. For purchased impaired loans for which the timing and amount of cash flows expected to be collected cannot be reasonably estimated, the Company uses the cost recovery method of income recognition. Under the cost recovery method of income recognition, all cash receipts are initially applied to principal, with interest income being recorded only after the carrying value of the loan has been reduced to zero. For nonimpaired purchased loans, the Company accretes any fair value discount over the life of the loan in a manner consistent with the guidance for accounting for loan origination fees and costs. An allowance for loan losses is recorded for these loans when the estimated credit losses exceed the remaining unamortized discounts, based on pools of similar loans. A loan is placed on nonaccrual status when, in management’s judgment, the collection of interest appears doubtful. The accrual of interest is discontinued on all loans that become 90 days or more past due with respect to principal or interest. The past due status of loans is based on the contractual payment terms. While a loan is on nonaccrual status, the Company’s policy is that all cash receipts are applied to principal. Once the recorded principal balance has been reduced to zero, future cash receipts are applied to recoveries of any amounts previously charged off. Further cash receipts are recorded as interest income to the extent that any interest has been foregone. Loans are removed from nonaccrual status when they become current as to both principal and interest, when concern no longer exists as to the collectability of principal or interest, and when the loan has provided generally six months of satisfactory payment performance. In some cases, where borrowers are experiencing financial difficulties, loans may be restructured to provide terms significantly different from the originally contracted terms. For a nonaccrual loan that has been restructured, if the borrower has six months of satisfactory performance under the restructured terms and it is reasonably assured that the borrower will continue to be able to comply with the restructured terms, the loan may be returned to accruing status. The nonaccrual policy discussed above applies to all loan classifications. A loan is considered to be impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. A loan is specifically evaluated for an appropriate valuation allowance if the loan balance is above a prescribed evaluation threshold (which varies based on credit quality, accruing status, troubled debt restructured status, and type of collateral) and the loan is determined to be impaired. Impaired loans are measured using either 1) an estimate of the cash flows that the Company expects to receive from the borrower discounted at the loan’s effective rate, or 2) in the case of a collateral-dependent loan, the fair value of the collateral less estimated selling costs. Unless restructured, while a loan is considered to be impaired, the Company’s policy is that interest accrual is discontinued and all cash receipts are applied to principal. Once the recorded principal balance has been reduced to zero, future cash receipts are applied to recoveries of any amounts previously charged off. Further cash receipts are recorded as interest income to the extent that any interest has been foregone. Impaired loans that are restructured are returned to accruing status in accordance with the restructured terms if the Company believes that the borrower will be able to meet the obligations of the restructured loan terms, and the loan has provided generally six months of satisfactory payment performance. The impairment policy discussed above applies to all loan classifications. (h) Presold Mortgages in Process of Settlement - As a part of normal business operations, the Company originates residential mortgage loans that have been pre-approved by secondary investors to be sold on a best efforts basis. The terms of the loans are set by the secondary investors, and the purchase price that the investor will pay for the loan is agreed to prior to the funding of the loan by the Company. Generally within three weeks after funding, the loans are transferred to the investor in accordance with the agreed-upon terms. The Company records gains from the sale of these loans on the settlement date of the sale equal to the difference between the proceeds received and the carrying amount of the loan. The gain generally represents the portion of the proceeds attributed to service release premiums received from the investors and the realization of origination fees received from borrowers that were deferred as part of the carrying amount of the loan. Between the initial funding of the loans by the Company and the subsequent reimbursement by the investors, the Company carries the loans on its balance sheet at the lower of cost or market. (i) Loans Held for Sale Periodically, the Company originates other types of commercial loans and decides to sell them in the secondary market. The Company carries these loans at the lower of cost or fair value at each reporting date. There were no such loans held for sale as of December 31, 2017 or 2016. (j) Allowance for Loan Losses - The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged-off against the allowance for loan losses when management believes that the collectability of the principal is unlikely. Recoveries on loans previously charged-off are added back to the allowance. The provision for loan losses charged to operations is an amount sufficient to bring the allowance for loan losses to an estimated balance considered adequate to absorb losses inherent in the portfolio. Management’s determination of the adequacy of the allowance is based on several factors, including: 1. Risk grades assigned to the loans in the portfolio, 2. Specific reserves for individually evaluated impaired loans, 3. Current economic conditions, including the local, state, and national economic outlook; interest rate risk; trends in loan volume, mix and size of loans; levels and trends of delinquencies, 4. Historical loan loss experience, and 5. An assessment of the risk characteristics of the Company’s loan portfolio, including industry concentrations, payment structures, changes in property values, and credit administration practices. While management uses the best information available to make evaluations, future adjustments may be necessary if economic and other conditions differ substantially from the assumptions used. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on the examiners’ judgment about information available to them at the time of their examinations. (k) Foreclosed Real Estate - Foreclosed real estate consists primarily of real estate acquired by the Company through legal foreclosure or deed in lieu of foreclosure. The property is initially carried at the lower of cost (generally the loan balance plus additional costs incurred for improvements to the property) or the estimated fair value of the property less estimated selling costs (also see Note 14). If there are subsequent declines in fair value, which is reviewed routinely by management, the property is written down to its fair value through a charge to expense. Capital expenditures made to improve the property are capitalized. Costs of holding real estate, such as property taxes, insurance and maintenance, less related revenues during the holding period, are recorded as expense. (l) Income Taxes - Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not expected to be realized based upon available evidence. The Company’s investment tax credits, which are low income housing tax credits and state historic tax credits, are recorded in the period that they are reflected in the Company’s tax returns. (m) Intangible Assets - Business combinations are accounted for using the purchase method of accounting. Identifiable intangible assets are recognized separately and are amortized over their estimated useful lives, which for the Company has generally been seven to ten years and at an accelerated rate. Goodwill is recognized in business combinations to the extent that the price paid exceeds the fair value of the net assets acquired, including any identifiable intangible assets. Goodwill is not amortized, but as discussed in Note 1(s), is subject to fair value impairment tests on at least an annual basis. (n) Bank-owned life insurance (o) Other Investments Under the cost method of accounting, the Company records an investment in stock at cost and generally recognizes cash dividends received as income. If cash dividends received exceed the Company’s relative ownership of the investee’s earnings since the investment date, these payments are considered a return of investment and reduce the cost of the investment. Under the equity method of accounting, the Company records its initial investment at cost. Subsequently, the carrying amount of the investment is increased or decreased to reflect the Company’s share of income or loss of the investee. The Company’s recognition of earnings or losses from an equity method investment is based on the Company’s ownership percentage in the investee and the investee’s earnings on a quarterly basis. The investees generally provide their financial information during the quarter following the end of a given period. The Company’s policy is to record its share of earnings or losses on equity method investments in the quarter the financial information is received. All of the Company’s investments in limited partnerships, LLCs, and other companies are privately held, and their market values are not readily available. The Company’s management evaluates its investments in investees for impairment based on the investee’s ability to generate cash through its operations or obtain alternative financing, and other subjective factors. There are inherent risks associated with the Company’s investments in such companies, which may result in income statement volatility in future periods. At December 31, 2017 and 2016, the Company’s investments in limited partnerships, LLCs and other privately held companies totaled $5.3 million and $3.1 million, respectively, and were included in other assets. (p) Stock Option Plan - At December 31, 2017, the Company had two equity-based employee compensation plans, which are described more fully in Note 15. The Company accounts for these plans under the recognition and measurement principles of relevant accounting guidance. (q) Per Share Amounts - 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 years 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. In 2016 and 2015, the Company’s potentially dilutive common stock issuances also included the Company’s Series C Preferred stock, which was convertible into common stock on a one-for-one ratio. As discussed in Note 19, on December 22, 2016 each outstanding share of the Company’s Series C Preferred stock was exchanged by the holder for an equal number of shares of common stock. 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 Series C Preferred Stock for the period of time it was outstanding, it is assumed that the preferred stock was converted to common stock at the beginning of the reporting period. Dividends on the preferred stock are added back to net income in 2016 and 2015 and the shares assumed to be converted are 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 Years Ended December 31, 2017 2016 2015 ($ in thousands, Income Shares Per Income Shares Per Income Shares Per Basic EPS Net income available to common shareholders $ 45,972 25,210,606 $ 1.82 $ 27,334 19,964,727 $ 1.37 $ 26,431 19,767,470 $ 1.34 Effect of dilutive securities — 80,776 175 768,190 233 732,257 Diluted EPS per common share $ 45,972 25,291,382 $ 1.82 $ 27,509 20,732,917 $ 1.33 $ 26,664 20,499,727 $ 1.30 For the year ended December 31, 2017, there were no options that were anti-dilutive. For the years ended December 31, 2016 and 2015, there were 5,000 options and 50,000 options, respectively, that were anti-dilutive because the exercise price exceeded the average market price for the year, and thus are not included in the calculation to determine the effect of dilutive securities. (r) Fair Value of Financial Instruments - Relevant accounting guidance requires that the Company disclose estimated fair values for its financial instruments. Fair value methods and assumptions are set forth below for the Company’s financial instruments. Cash and Amounts Due from Banks, Federal Funds Sold, 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. Commitments to Extend Credit and Standby Letters of Credit - At December 31, 2017 and 2016, the Company’s off-balance sheet financial instruments had no carrying value. The large majority of commitments to extend credit and standby letters of credit are at variable rates and/or have relatively short terms to maturity. Therefore, the fair value for these financial instruments is considered to be immaterial. 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 assets and other assets such as foreclosed properties, 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. (s) Impairment - Goodwill is evaluated for impairment on at least an annual basis by comparing the estimated fair value of the reporting units to their related carrying value. If the carrying value of a reporting unit exceeds its fair value, the Company determines whether the implied fair value of the goodwill, using various valuation techniques, exceeds the carrying value of the goodwill. If the carrying value of the goodwill exceeds the implied fair value of the goodwill, an impairment loss is recorded in an amount equal to that excess. The Company reviews all other long-lived assets, including identifiable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company’s policy is that an impairment loss is recognized if the sum of the undiscounted future cash flows is less than the carrying amount of the asset. Any long-lived assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. To date, the Company has not recorded any impairment write-downs of its long-lived assets or goodwill. (t) 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) December 31, December 31, December 31, Unrealized gain (loss) on securities available for sale $ (2,211 ) (3,085 ) (1,163 ) Deferred tax asset (liability) 517 1,138 454 Net unrealized gain (loss) on securities available for sale (1,694 ) (1,947 ) (709 ) Additional pension asset (liability) (3,200 ) (5,012 ) (4,657 ) Deferred tax asset (liability) 748 1,852 1,816 Net additional pension asset (liability) (2,452 ) (3,160 ) (2,841 ) Total accumulated other comprehensive income (loss) $ (4,146 ) (5,107 ) (3,550 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the year ended December 31, 2017 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2017 $ (1,947 ) (3,160 ) (5,107 ) Other comprehensive income (loss) before reclassifications 405 1,008 1,413 Amounts reclassified from accumulated other comprehensive income 148 136 284 Net current-period other comprehensive income (loss) 553 1,144 1,697 Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes (300 ) (436 ) (736 ) Ending balance at December 31, 2017 $ (1,694 ) (2,452 ) (4,146 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the year ended December 31, 2016 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2016 $ (709 ) (2,841 ) (3,550 ) Other comprehensive income (loss) before reclassifications (1,236 ) (442 ) (1,678 ) Amounts reclassified from accumulated other comprehensive income (2 ) 123 121 Net current-period other comprehensive income (loss) (1,238 ) (319 ) (1,557 ) Ending balance at December 31, 2016 $ (1,947 ) (3,160 ) (5,107 ) (u) Segment Reporting - Accounting standards require management to report selected financial and descriptive information about reportable operating segments. The standards also require related disclosures about products and services, geographic areas, and major customers. Generally, disclosures are required for segments internally identified to evaluate performance and resource allocation. The Company’s operations are primarily within the banking segment, and the financial statements presented herein reflect the results of that segment. The Company has no foreign operations or customers. (v) Recent Accounting Pronouncements - 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 Company can apply the guidance using a full retrospective approach or a modified retrospective approach. The Company’s revenue is comprised of net interest income and noninterest income. The scope of the guidance explicitly excludes net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives. Accordingly, the majority of the Company’s revenues will not be affected. The guidance 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 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 ap

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Acquisitions	Note 2. 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 for the twelve months ended December 31, 2016 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 $700,000 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 the Company’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 was 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 based on the availability of new information that provided a more reliable estimate of the most likely earn-out. (3) On July 15, 2016, the Company completed a branch exchange with First Community Bank headquartered in Bluefield, Virginia. In the branch exchange transaction, the 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, iv) and $5.4 million in goodwill. The branch acquisition has been accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of the acquired branches were recorded on the Company’s balance sheet at their fair values as of July 15, 2016 and the related results of operations for the acquired branches have been included in the Company’s consolidated statement of comprehensive 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 beginning on the March 3, 2017 acquisition date. Carolina Bank Holdings, Inc. was the parent company of Carolina Bank, a North Carolina state-chartered 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 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 $114.5 million and was based on the Company’s closing stock price on March 3, 2017 of $30.13 per share. This acquisition was 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, and is currently awaiting information related to a contingent liability that was assumed in the acquisition. 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 $65.5 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ 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) (319 ) (m) 21,899 Core deposit intangible — 8,790 (g) — 8,790 Other 34,976 (4,804 ) (h) 2,225 (n) 32,397 Total 683,852 5,536 2,052 691,440 Liabilities Deposits $ 584,950 431 (i) — 585,381 Borrowings 21,855 (2,855 ) (j) (262 ) (o) 18,738 Other 12,855 225 (k) — 13,080 Total 619,660 (2,199 ) (262 ) 617,199 Net identifiable assets acquired 74,241 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 $ 65,516 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 miscellaneous adjustment to decrease the initial fair value of premises and equipment. (n) This fair value adjustment relates to changes in the estimate of deferred tax assets/liabilities associated with the acquisition and a miscellaneous adjustment to decrease the initial fair value of foreclosed real estate acquired in the transaction. (o) This fair value adjustment relates to miscellaneous adjustments to decrease the initial fair value of borrowings. 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. Pro Forma Combined Pro Forma Combined Net interest income $ 168,759 147,089 Noninterest income 50,098 36,684 Total revenue 218,857 183,773 Net income available to common shareholders 49,907 25,364 Earnings per common share Basic $ 1.93 1.07 Diluted 1.92 1.03 For purposes of the supplemental pro forma information, merger-related expenses of $5.2 million that were recorded in the Company’s consolidated statements of income for the year ended December 31, 2017 and $4.6 million of merger-related expenses that were recorded by Carolina Bank in 2017 prior to the merger date are reflected above in the pro forma presentation for 2016. (5) On September 1, 2017, First Bank Insurance completed the acquisition of Bear Insurance Service (“Bear Insurance”). The results of Bear Insurance are included the Company’s results beginning on the September 1, 2017 acquisition date. Bear Insurance, an insurance agency based in Albemarle, North Carolina, with four locations in Stanly, Cabarrus, and Montgomery counties and annual commission income of approximately $4 million, represented an opportunity to complement the insurance agency operations in these markets and the surrounding areas. Also, this acquisition provided the Company with a larger platform for leveraging insurance services throughout the Company’s bank branch network. The transaction value was $9.8 million and the transaction was completed on September 1, 2017 with the Company paying $7.9 million in cash and issuing 13,374 shares of its common stock, which had a value of approximately $0.4 million. Per the terms of the agreement, the Company also recorded an earn-out liability valued at $1.2 million, which will be paid as a cash distribution after a four-year period if pre-determined goals are met for the periods. This acquisition was accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of Bear Insurance were recorded based on estimates of fair values as of September 1, 2017. In connection with this transaction, the Company recorded $5.3 million in goodwill, which is deductible for tax purposes, and $3.9 million in other amortizable intangible assets, which are also deductible for tax purposes. (6) On October 1, 2017, the Company completed the acquisition of ASB Bancorp, Inc. (“Asheville Savings Bank”), headquartered in Asheville, North Carolina, pursuant to an Agreement and Plan of Merger and Reorganization dated May 1, 2017. The results of Asheville Savings Bank are included in First Bancorp’s results beginning on the October 1, 2017 acquisition date. ASB Bancorp, Inc. was the parent company of Asheville Savings Bank, a North Carolina state-chartered bank with eight bank branches located in Buncombe County, North Carolina and five bank branches located in the counties of Henderson, Madison, McDowell and Transylvania, all in North Carolina. The acquisition complements the Company’s existing presence in the Asheville and surrounding markets, which are high-growth and highly desired markets. The Company was willing to record goodwill primarily due to the reasons just noted, as well as the positive earnings of Asheville Savings Bank. The total merger consideration consisted of $17.9 million in cash and 4,920,061 shares of the Company’s common stock, with each share of Asheville Savings Bank common stock being exchanged for either $41.90 in cash or 1.44 shares of the Company’s stock, subject to the total consideration being 90% stock / 10% cash. The issuance of common stock was valued at $169.3 million and was based on the Company’s closing stock price on September 30, 2017 of $34.41 per share. This acquisition was accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of Asheville Savings Bank were recorded based on estimates of fair values as of October 1, 2017. The Company may change its valuations of acquired Asheville Savings 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 Asheville Savings Bank on October 1, 2017, and the related fair value adjustments recorded by the Company to reflect the acquisition. The $88.4 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ in thousands) As Recorded by Initial Fair Measurement As Assets Cash and cash equivalents $ 41,824 — — 41,824 Securities 95,020 — — 95,020 Loans, gross 617,159 (9,631 ) (a) — 606,180 (1,348 ) (b) — Allowance for loan losses (6,685 ) 6,685 (c) — — Presold mortgages 3,785 — — 3,785 Premises and equipment 10,697 9,857 (d) — 20,554 Core deposit intangible — 9,760 (e) — 9,760 Other 35,944 (5,851 ) (f) — 30,093 Total 797,744 9,472 — 807,216 Liabilities Deposits $ 678,707 430 (g) — 679,137 Borrowings 20,000 — — 20,000 Other 8,943 298 (h) — 9,241 Total 707,650 728 — 708,378 Net identifiable assets acquired 98,838 Total cost of acquisition Value of stock issued $ 169,299 Cash paid in the acquisition 17,939 Total cost of acquisition 187,238 Goodwill recorded related to acquisition of Asheville Savings Bank $ 88,400 Explanation of Fair Value Adjustments (a) 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. (b) This fair value adjustment was recorded to write-down purchased credit impairment loans assumed in the acquisition to their estimated fair market value. (c) This fair value adjustment reduced the allowance for loan losses to zero as required by relevant accounting guidance. (d) 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. (e) 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. (f) This fair value adjustment primarily represents the net deferred tax liability associated with the other fair value adjustments made to record the transaction. (g) This fair value adjustment was recorded because the weighted average interest rate of Asheville Savings 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. (h) This fair value adjustment represents miscellaneous adjustments needed to record assets and liabilities at their fair value. The following unaudited pro forma financial information presents the combined results of the Company and Asheville Savings 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 Asheville Savings Bank constituted a single entity during such period. ($ in thousands, except share data) Pro Forma Combined Pro Forma Combined Net interest income $ 183,996 147,284 Noninterest income 54,523 34,307 Total revenue 238,391 181,591 Net income available to common shareholders 51,600 12,291 Earnings per common share Basic $ 1.79 0.49 Diluted 1.78 0.48 For purposes of the supplemental pro forma information, merger-related expenses of $2.7 million that were recorded in the Company’s consolidated statements of income for the twelve months ended December 31, 2017 and $20.4 million of merger-related expenses that were recorded by Asheville Savings Bank in 2017 prior to the merger date are reflected above in the pro forma presentation for 2016.

Securities

Securities	12 Months Ended
	Dec. 31, 2017
Securities [Abstract]
Securities	Note 3. Securities The book values and approximate fair values of investment securities at December 31, 2017 and 2016 are summarized as follows: 2017 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 $ 14,000 13,867 — (133 ) 17,497 17,490 — (7 ) Mortgage-backed securities 297,690 295,213 246 (2,722 ) 151,001 148,065 155 (3,091 ) Corporate bonds 33,792 34,190 512 (114 ) 33,833 33,600 91 (324 ) Equity securities — — — — 83 174 96 (5 ) Total available for sale $ 345,482 343,270 758 (2,969 ) 202,414 199,329 342 (3,427 ) Securities held to maturity: Mortgage-backed securities $ 63,829 63,092 — (737 ) 80,585 79,283 — (1,302 ) State and local governments 54,674 55,906 1,280 (48 ) 49,128 50,912 1,815 (31 ) Total held to maturity $ 118,503 118,998 1,280 (785 ) 129,713 130,195 1,815 (1,333 ) All of the Company’s mortgage-backed securities, including commercial mortgage-backed obligations, were issued by government-sponsored corporations, except for one private mortgage-backed security with a fair value of $0.5 million as of December 31, 2017. The following table presents information regarding securities with unrealized losses at December 31, 2017: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 10,897 103 2,970 30 13,867 133 Mortgage-backed securities 192,702 1,582 125,060 1,877 317,762 3,459 Corporate bonds 2,500 49 935 65 3,435 114 State and local governments 7,928 48 — — 7,928 48 Total temporarily impaired securities $ 214,027 1,782 128,965 1,972 342,992 3,754 The following table presents information regarding securities with unrealized losses at December 31, 2016: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 7,990 7 — — 7,990 7 Mortgage-backed securities 196,999 3,841 19,001 552 216,000 4,393 Corporate bonds 27,027 259 935 65 27,962 324 Equity securities — — 7 5 7 5 State and local governments 801 31 — — 801 31 Total temporarily impaired securities $ 232,817 4,138 19,943 622 252,760 4,760 In the above tables, all of the non-equity securities that were in an unrealized loss position at December 31, 2017 and 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 December 31, 2017, by contractual maturity, are summarized in the table below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair ($ in thousands) Cost Value Cost Value Debt securities Due within one year $ — — $ 2,257 2,258 Due after one year but within five years 15,007 14,905 23,285 23,795 Due after five years but within ten years 27,785 28,042 23,502 24,219 Due after ten years 5,000 5,110 5,630 5,634 Mortgage-backed securities 297,690 295,213 63,829 63,092 Total debt securities 345,482 343,270 118,503 118,998 Equity securities — — — — Total securities $ 345,482 343,270 $ 118,503 118,998 At December 31, 2017 and 2016, investment securities with carrying values of $176,813,000 and $147,009,000, respectively, were pledged as collateral for public deposits. In 2017, the Company received proceeds from sales of securities of $140,621,000 and recorded $235,000 in losses from the sales. In 2016, the Company received proceeds from sales of securities of $8,000 and recorded $3,000 in gains from the sales. In 2015, the Company recorded $1,000 in securities losses associated with write-downs and did not sell any securities. Included in “other assets” in the Consolidated Balance Sheets are cost-method investments in Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank of Richmond (“FRB”) stock totaling $31,338,000 and $19,826,000 at December 31, 2017 and 2016, respectively. The FHLB stock had a cost and fair value of $19,647,000 and $12,588,000 at December 31, 2017 and 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 $11,691,000 and $7,238,000 at December 31, 2017 and 2016, respectively, and is a requirement for FRB member bank qualification. 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	12 Months Ended
	Dec. 31, 2017
Loans and Asset Quality Information [Abstract]
Loans and Asset Quality Information	Note 4. 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 2 for more information). As a result of this acquisition, the Company recorded loans with a fair value of $497.5 million. Of those loans, $19.3 million were considered to be purchased credit impaired (“PCI”) loans, which are loans for which it is probable at acquisition date that all contractually required payments will not be collected. The remaining loans are considered to be purchased non-impaired loans and their related fair value discount or premium is recognized as an adjustment to yield over the remaining life of each loan. The following table relates to acquired Carolina Bank PCI loans and summarizes the contractually required payments, which includes principal and interest, expected cash flows to be collected, and the fair value of acquired PCI loans at the acquisition date. ($ 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 On October 1, 2017, the Company acquired Asheville Savings Bank (see Note 2 for more information). As a result of this acquisition, the Company recorded loans with a fair value of $606.2 million. Of those loans, $9.9 million were considered to be purchased credit impaired (“PCI”) loans, which are loans for which it is probable at acquisition date that all contractually required payments will not be collected. The remaining loans are considered to be purchased non-impaired loans and their related fair value discount or premium is recognized as an adjustment to yield over the remaining life of each loan. The following table relates to acquired Asheville Savings Bank PCI loans and summarizes the contractually required payments, which includes principal and interest, expected cash flows to be collected, and the fair value of acquired PCI loans at the acquisition date. ($ in thousands) Asheville Savings Bank Contractually required payments $ 13,424 Nonaccretable difference (1,734 ) Cash flows expected to be collected at acquisition 11,690 Accretable yield (1,804 ) Fair value of PCI loans at acquisition date $ 9,886 The following table relates to acquired Asheville Savings 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) Asheville Savings Bank Contractually required payments $ 727,706 Fair value of acquired loans at acquisition date 595,167 Contractual cash flows not expected to be collected 7,000 The following is a summary of the major categories of total loans outstanding: ($ in thousands) December 31, 2017 December 31, 2016 Amount Percentage Amount Percentage All loans: Commercial, financial, and agricultural $ 381,130 10% $ 261,813 9% Real estate – construction, land development & other land loans 539,020 13% 354,667 13% Real estate – mortgage – residential (1-4 family) first mortgages 972,772 24% 750,679 28% Real estate – mortgage – home equity loans / lines of credit 379,978 9% 239,105 9% Real estate – mortgage – commercial and other 1,696,107 42% 1,049,460 39% Installment loans to individuals 74,348 2% 55,037 2% Subtotal 4,043,355 100% 2,710,761 100% Unamortized net deferred loan costs (fees) (986 ) (49 ) Total loans $ 4,042,369 $ 2,710,712 Loans in the amount of $3.6 billion and $2.4 billion were pledged as collateral for certain borrowings as of December 31, 2017 and December 31, 2016, respectively (see Note 10). The loans above also include loans to executive officers and directors serving the Company at December 31, 2017 and to their associates, totaling approximately $3.6 million and $2.6 million at December 31, 2017 and 2016, respectively. During 2017, net repayments to such loans were approximately $0.6 million. These loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other non-related borrowers. Management does not believe these loans involve more than the normal risk of collectability or present other unfavorable features. The following table presents information regarding covered purchased nonimpaired loans since January 1, 2015. The amounts include principal only and do not reflect accrued interest as of the date of the acquisition or beyond. All balances of covered loans were transferred to non-covered as of the termination of the loss share agreements. ($ in thousands) Carrying amount of nonimpaired covered loans at January 1, 2015 $ 125,644 Principal repayments (30,238 ) Transfers to foreclosed real estate (1,211 ) Net loan recoveries 2,306 Accretion of loan discount 4,751 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 $ — As of December 31, 2017 and 2016, there was a remaining accretable discount of $21.5 million and $12.1 million, respectively, related to purchased non-impaired loans. The following table presents changes in the carrying value of PCI loans. ($ in thousands) Purchased Credit Impaired Loans For the Year For the Year Balance at beginning of period $ 514 1,970 Additions due to acquisition of Carolina Bank 19,254 — Additions due to acquisition of Asheville Savings Bank 9,886 — Change due to payments received and accretion (6,016 ) (1,386 ) Change due to loan charge-offs (12 ) (70 ) Transfers to foreclosed real estate (69 ) — Other (392 ) — Balance at end of period $ 23,165 514 The following table presents changes in the accretable yield for PCI loans. ($ in thousands) Accretable Yield for PCI loans For the Year For the Year Balance at beginning of period $ — — Additions due to acquisition of Carolina Bank 3,617 — Additions due to acquisition of Asheville Savings Bank 1,804 — Accretion (1,846 ) — Reclassification from (to) nonaccretable difference 423 — Other, net 690 — Balance at end of period $ 4,688 — During 2017, the Company received $1,064,000 in payments that exceeded the carrying amount of the related purchased credit impaired loans, of which $962,000 was recognized as loan discount accretion income and $102,000 was recorded as additional loan interest income. During 2016, the Company received $1,160,000 in payments that exceeded the carrying amount of the related PCI loans, of which $786,000 was recognized as loan discount accretion income, $296,000 was recorded as additional loan interest income, and $78,000 was recorded as a recovery. Nonperforming assets are defined as nonaccrual loans, restructured loans, loans past due 90 or more days and still accruing interest, nonperforming loans held for sale, and foreclosed real estate. Nonperforming assets are summarized as follows: ASSET QUALITY DATA ($ in thousands) December 31, December 31, Nonperforming assets Nonaccrual loans $ 20,968 27,468 Restructured loans - accruing 19,834 22,138 Accruing loans > 90 days past due — — Total nonperforming loans 40,802 49,606 Foreclosed real estate 12,571 9,532 Total nonperforming assets $ 53,373 59,138 Purchased credit impaired loans not included above (1) $ 23,165 — (1) In the March 3, 2017 acquisition of Carolina Bank and the October 1, 2017 acquisition of Asheville Savings Bank, the Company acquired $19.3 million and $9.9 million, respectively, in PCI loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $0.6 million in PCI loans at December 31, 2017 that are contractually past due 90 days or more. At December 31, 2017 and 2016, the Company had $0.8 million and $1.7 million in residential mortgage loans in process of foreclosure, respectively. If the nonaccrual and restructured loans as of December 31, 2017, 2016 and 2015 had been current in accordance with their original terms and had been outstanding throughout the period (or since origination if held for part of the period), gross interest income in the amounts of approximately $1,503,000, $1,893,000, and $3,213,000 for nonaccrual loans and $1,182,000, $1,417,000, and $2,044,000, for restructured loans would have been recorded for 2017, 2016, and 2015, respectively. Interest income on such loans that was actually collected and included in net income in 2017, 2016 and 2015 amounted to approximately $415,000, $266,000, and $575,000 for nonaccrual loans (prior to their being placed on nonaccrual status), and $297,000, $423,000, and $1,392,000 for restructured loans, respectively. At December 31, 2017 and 2016, there were no commitments to lend additional funds to debtors whose loans were nonperforming. The following is a summary the Company’s nonaccrual loans by major categories. ($ in thousands) December 31, December 31, Commercial, financial, and agricultural $ 1,001 1,842 Real estate – construction, land development & other land loans 1,822 2,945 Real estate – mortgage – residential (1-4 family) first mortgages 12,201 16,017 Real estate – mortgage – home equity loans / lines of credit 2,524 2,355 Real estate – mortgage – commercial and other 3,345 4,208 Installment loans to individuals 75 101 Total $ 20,968 27,468 The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2017. ($ in thousands) Accruing Accruing Accruing 90 Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 89 151 — 1,001 379,241 380,482 Real estate – construction, land development & other land loans 1,154 214 — 1,822 535,423 538,613 Real estate – mortgage – residential (1-4 family) first mortgages 6,777 1,370 — 12,201 943,565 963,913 Real estate – mortgage – home equity loans / lines of credit 1,347 10 — 2,524 375,814 379,695 Real estate – mortgage – commercial and other 1,270 451 — 3,345 1,678,529 1,683,595 Installment loans to individuals 445 95 — 75 73,277 73,892 Purchased credit impaired 821 77 601 — 21,666 23,165 Total $ 11,903 2,368 601 20,968 4,007,515 4,043,355 Unamortized net deferred loan fees (986 ) Total loans $ 4,042,369 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 90 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 the year ended December 31, 2017. There were no covered loans at December 31, 2017 and all reserves associated with previously covered loans were transferred to the non-covered allowance. ($ in thousands) Commercial, Real Estate – Real Estate Real Estate Real Estate Installment Unallo- Total As of and for the year ended December 31, 2017 Beginning balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 23,781 Charge-offs (1,622 ) (589 ) (2,641 ) (978 ) (1,182 ) (799 ) — (7,811 ) Recoveries 1,311 2,579 1,076 333 1,027 279 — 6,605 Provisions (407 ) (1,865 ) 8 52 1,532 325 1,078 723 Ending balance $ 3,111 2,816 6,147 1,827 6,475 950 1,972 23,298 Ending balances as of December 31, 2017: Allowance for loan losses Individually evaluated for impairment $ 215 18 1,099 — 232 — — 1,564 Collectively evaluated for impairment $ 2,896 2,798 4,831 1,788 6,226 950 1,972 21,461 Purchased credit impaired $ — — 217 39 17 — — 273 Loans receivable as of December 31, 2017: Ending balance – total $ 381,130 539,020 972,772 379,978 1,696,107 74,348 — 4,043,355 Unamortized net deferred loan fees (986 ) Total loans $ 4,042,369 Ending balances as of December 31, 2017: Loans Individually evaluated for impairment $ 579 2,975 14,800 368 8,493 — — 27,215 Collectively evaluated for impairment $ 379,903 535,638 949,113 379,327 1,675,102 73,892 — 3,992,975 Purchased credit impaired $ 648 407 8,859 283 12,512 456 — 23,165 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 loans individually evaluated for impairment by class of loans, excluding purchased credit impaired loans, as of December 31, 2017. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 183 425 — 276 Real estate – mortgage – construction, land development & other land loans 2,743 3,941 — 2,846 Real estate – mortgage – residential (1-4 family) first mortgages 5,205 5,728 — 7,067 Real estate – mortgage –home equity loans / lines of credit 368 387 — 129 Real estate – mortgage –commercial and other 3,066 3,321 — 3,143 Installment loans to individuals — — — — Total impaired loans with no allowance $ 11,565 13,802 — 13,461 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 396 396 215 214 Real estate – mortgage – construction, land development & other land loans 232 241 18 503 Real estate – mortgage – residential (1-4 family) first mortgages 9,595 9,829 1,099 10,077 Real estate – mortgage –home equity loans / lines of credit — — — 66 Real estate – mortgage –commercial and other 5,427 5,427 232 5,369 Installment loans to individuals — — — — Total impaired loans with allowance $ 15,650 15,893 1,564 16,229 Interest income recorded on impaired loans during the year ended December 31, 2017 was insignificant. The following table presents loans individually evaluated for impairment by class of loans, excluding purchased credit impaired 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 recorded on impaired loans during the year ended December 31, 2016 was insignificant. The Company tracks credit quality based on its internal risk ratings. Upon origination a loan is assigned an initial risk grade, which is generally based on several factors such as the borrower’s credit score, the loan-to-value ratio, the debt-to-income ratio, etc. Loans that are risk-graded as substandard during the origination process are declined. After loans are initially graded, they are monitored regularly for credit quality based on many factors, such as payment history, the borrower’s financial status, and changes in collateral value. Loans can be downgraded or upgraded depending on management’s evaluation of these factors. Internal risk-grading policies are consistent throughout each loan type. The following describes the Company’s internal risk grades in ascending order of likelihood of loss: Risk Grade Description Pass: 1 Loans with virtually no risk, including cash secured loans. 2 Loans with documented significant overall financial strength. These loans have minimum chance of loss due to the presence of multiple sources of repayment – each clearly sufficient to satisfy the obligation. 3 Loans with documented satisfactory overall financial strength. These loans have a low loss potential due to presence of at least two clearly identified sources of repayment – each of which is sufficient to satisfy the obligation under the present circumstances. 4 Loans to borrowers with acceptable financial condition. These loans could have signs of minor operational weaknesses, lack of adequate financial information, or loans supported by collateral with questionable value or marketability. 5 Loans that represent above average risk due to minor weaknesses and warrant closer scrutiny by management. Collateral is generally available 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 (<$500,000) with a well-defined weakness, such as exceptions of any kind with no mitigating factors, history of paying outside the terms of the note, insufficient income to support the current level of debt, etc. The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2017. ($ in thousands) Pass Special Mention Classified Classified Total Commercial, financial, and agricultural $ 368,658 9,901 922 1,001 380,482 Real estate – construction, land development & other land loans 523,642 7,129 6,020 1,822 538,613 Real estate – mortgage – residential (1-4 family) first mortgages 905,111 16,235 30,366 12,201 963,913 Real estate – mortgage – home equity loans / lines of credit 365,982 3,784 7,405 2,524 379,695 Real estate – mortgage – commercial and other 1,647,725 23,335 9,190 3,345 1,683,595 Installment loans to individuals 73,379 222 216 75 73,892 Purchased credit impaired 6,541 12,309 4,315 — 23,165 Total $ 3,891,038 72,915 58,434 20,968 4,043,355 Unamortized net deferred loan fees (986 ) Total loans 4,042,369 The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2016. ($ in thousands) Pass Special Mention 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 during the years ended December 31, 2017 and 2016 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 years ended December 31, 2017 and 2016. ($ in thousands) For the year ended For the year ended Number of Pre- Post- Number of Pre- Post- TDRs – Accruing Commercial, financial, and agricultural — $ — $ — 1 $ 1,071 $ 1,071 Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages — — — 1 598 626 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 1 38 25 — — — Real estate – construction, land development & other land loans 1 32 32 — — — Real estate – mortgage – residential (1-4 family) first mortgages 1 215 215 1 155 184 Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 8 $ 3,835 $ 3,797 3 $ 1,824 $ 1,881 Total covered TDRs arising during period included above — — — — — — Accruing restructured loans that were modified in the previous 12 months and that defaulted during the years ended December 31, 2017 and 2016 are presented in the table below. The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to foreclosed real estate. ($ in thousands) For the year ended For the year ended Number of Recorded Number of Recorded Accruing TDRs that subsequently defaulted Commercial, financial, and agricultural — $ — 2 $ 744 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 3 $ 765 Total covered accruing TDRs that subsequently defaulted included above — $ — 1 $ 44

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Premises and Equipment	Note 5. Premises and Equipment Premises and equipment at December 31, 2017 and 2016 consisted of the following: ($ in thousands) 2017 2016 Land $ 38,821 23,404 Buildings 92,337 67,032 Furniture and equipment 35,532 37,780 Leasehold improvements 2,409 2,192 Total cost 169,099 130,408 Less accumulated depreciation and amortization (52,866 ) (55,057 ) Net book value of premises and equipment $ 116,233 75,351

FDIC Indemnification Asset

FDIC Indemnification Asset	12 Months Ended
	Dec. 31, 2017
FDIC Indemnification Asset [Abstract]
FDIC Indemnification Asset	Note 6. FDIC Indemnification Asset As discussed previously in Note 4 – Loans and Asset Quality Information, the Company terminated all loss share agreements with the FDIC effective September 22, 2016. As a result, the remaining balance in the FDIC Indemnification Asset, which represented the estimated amount to be received from the FDIC under the loss share agreements, was written off as indemnification asset expense as of the termination date. The following presents a rollforward of the FDIC indemnification asset from January 1, 2015 through the date of termination. ($ in thousands) Balance at January 1, 2015 $ 22,569 Increase (decrease) related to unfavorable (favorable) changes in loss estimates (3,031 ) Increase related to reimbursable expenses 1,232 Cash received (6,673 ) Decrease related to accretion of loan discount (5,584 ) Decrease related to settlement of disputed claims (406 ) Other 332 Balance at December 31, 2015 $ 8,439 Increase (decrease) related to unfavorable (favorable) changes in loss estimates (2,246 ) Increase related to reimbursable expenses 205 Cash paid 1,554 Decrease related to accretion of loan discount (2,005 ) Other (236 ) Write off of asset balance upon termination of FDIC loss share agreements effective September 22, 2016 (5,711 ) Balance at December 31, 2016 $ —

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2017
Goodwill and Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	Note 7. Goodwill and Other Intangible Assets The following is a summary of the gross carrying amount and accumulated amortization of amortized intangible assets as of December 31, 2017 and December 31, 2016 and the carrying amount of unamortized intangible assets as of those same dates. December 31, 2017 December 31, 2016 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Amortized intangible assets: Customer lists $ 6,013 1,090 2,369 746 Core deposit intangibles 28,280 11,475 9,730 8,143 SBA servicing asset 2,194 207 415 — Other 1,303 581 1,032 224 Total $ 37,790 13,353 13,546 9,113 Unamortized intangible assets: Goodwill $ 233,070 75,042 Activity related to transactions since January 1, 2016 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., 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 on July 15, 2016, the Company recorded a net increase of $1,961,000 in goodwill and $1,170,000 in a core deposit intangible. (4) In connection with the Carolina Bank acquisition on March 3, 2017, the Company recorded a net increase of $65,516,000 in goodwill and $8,790,000 in core deposit premiums. (5) In connection with the September 1, 2017 acquisition of Bear Insurance Service, the Company recorded $5,330,000 in goodwill, $3,644,000 in a customer list intangible, and $271,000 in other amortizable intangible assets. (6) In connection with the Asheville Savings Bank acquisition on October 1, 2017, the Company recorded a net increase of $88,400,000 in goodwill and $9,760,000 in a core deposit intangible. In addition to the above acquisition related activity, the Company recorded $1,779,000 and $415,000 in servicing assets associated with the guaranteed portion of SBA loans originated and sold during 2017 and 2016, respectively. During 2017, the Company recorded $207,000 in related amortization expense, while in 2016 the amount was insignificant. Servicing assets are recorded at fair value and amortized over the expected lives of the related loans. Amortization expense of all intangible assets totaled $4,240,000, $1,211,000 and $722,000 for the years ended December 31, 2017, 2016 and 2015, respectively. Goodwill is evaluated for impairment on at least an annual basis – see Note 1(q). For each of the years presented, the Company’s evaluation indicated that there was no goodwill impairment. The following table presents the estimated amortization expense related to amortizable intangible assets, excluding SBA servicing assets, for each of the five calendar years ending December 31, 2022 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortized intangible assets. ($ in thousands) Estimated 2018 $ 5,917 2019 4,858 2020 3,841 2021 2,927 2022 2,022 Thereafter 2,885 Total $ 22,450

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes Total income taxes for the years ended December 31, 2017, 2016, and 2015 were allocated as follows: ($ In thousands) 2017 2016 2015 Allocated to net income $ 21,767 14,624 14,126 Allocated to stockholders’ equity, for unrealized holding gain/loss on 321 (685 ) (184 ) Allocated to stockholders’ equity, for tax benefit of pension liabilities 668 (36 ) (1,716 ) Total income taxes $ 22,756 13,903 12,226 The components of income tax expense for the years ended December 31, 2017, 2016, and 2015 are as follows: ($ In thousands) 2017 2016 2015 Current - Federal $ 11,286 12,827 9,149 - State 1,996 1,679 1,436 Deferred - Federal 7,742 16 3,205 - State 743 102 336 Total $ 21,767 14,624 14,126 The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2017 and 2016 are presented below: ($ In thousands) 2017 2016 Deferred tax assets: Allowance for loan losses $ 5,448 8,758 Excess book over tax pension plan cost — 290 Deferred compensation 1,220 36 Federal & state net operating loss carryforwards 2,125 868 Accruals, book versus tax 2,546 2,287 Pension liability adjustments 748 1,852 Foreclosed real estate 740 610 Basis differences in assets acquired in FDIC transactions 1,311 2,539 Nonqualified stock options 248 545 Partnership investments 232 160 Unrealized gain on securities available for sale 517 1,138 SBA servicing asset 139 — All other 42 191 Gross deferred tax assets 15,316 19,274 Less: Valuation allowance (44 ) (43 ) Net deferred tax assets 15,272 19,231 Deferred tax liabilities: Loan fees (1,880 ) (1,548 ) Excess book over tax pension plan cost (95 ) — Depreciable basis of fixed assets (3,122 ) (954 ) Amortizable basis of intangible assets (7,915 ) (12,156 ) FHLB stock dividends (658 ) (409 ) Trust preferred securities (616 ) — Purchase accounting adjustments (2,133 ) — All other (28 ) (12 ) Gross deferred tax liabilities (16,447 ) (15,079 ) Net deferred tax asset (liability) - included in other assets $ (1,175 ) 4,152 A portion of the annual change in the net deferred tax asset relates to unrealized gains and losses on securities available for sale. The related 2017 and 2016 deferred tax expense (benefit) of approximately $321,000 and ($685,000) respectively, has been recorded directly to shareholders’ equity. Additionally, a portion of the annual change in the net deferred tax asset relates to pension adjustments. The related 2017 and 2016 deferred tax expense (benefit) of $668,000 and ($36,000) respectively, has been recorded directly to shareholders’ equity. The change in the net deferred tax liability was also impacted by the recording of a net deferred tax asset of approximately $4,146,000 relating to acquisition transactions that occurred during the year. The balance of the 2017 increase in the net deferred tax liability of $8,485,000 is reflected as a deferred income tax expense, and the balance of the 2016 decrease in the net deferred tax asset of $118,000 is reflected as a deferred income tax expense in the consolidated statement of income. The valuation allowances for 2017 and 2016 relate primarily to state net operating loss carryforwards. It is management’s belief that the realization of the remaining net deferred tax assets is more likely than not. The Company adjusted its net deferred income tax asset as a result of reductions in the North Carolina income tax rate, which reduced the state income tax rate to 3% effective January 1, 2017. The Company had no significant uncertain tax positions, and thus no reserve for uncertain tax positions has been recorded. Additionally, the Company determined that it has no material unrecognized tax benefits that if recognized would affect the effective tax rate. The Company’s general policy is to record tax penalties and interest as a component of “other operating expenses”. The Company is subject to routine audits of its tax returns by the Internal Revenue Service and various state taxing authorities. The Company’s federal tax returns are subject to income tax audit by state agencies beginning with the year 2014. The Company’s state tax returns are subject to income tax audit by state agencies beginning with the year 2013. There are no indications of any material adjustments relating to any examination currently being conducted by any taxing authority. Retained earnings at December 31, 2017 and 2016 includes approximately $6,869,000 representing pre-1988 tax bad debt reserve base year amounts for which no deferred income tax liability has been provided since these reserves are not expected to reverse or may never reverse. Circumstances that would require an accrual of a portion or all of this unrecorded tax liability are a reduction in qualifying loan levels relative to the end of 1987, failure to meet the definition of a bank, dividend payments in excess of accumulated tax earnings and profits, or other distributions in dissolution, liquidation or redemption of the Bank’s stock. The following is a reconcilement of federal income tax expense at the statutory rate of 35% to the income tax provision reported in the financial statements. ($ In thousands) 2017 2016 2015 Tax provision at statutory rate $ 23,709 14,746 14,405 Increase (decrease) in income taxes resulting from: Tax-exempt interest income (1,461 ) (1,202 ) (930 ) Low income housing tax credits (596 ) (192 ) (191 ) Non-deductible interest expense 24 16 11 State income taxes, net of federal benefit 1,780 1,158 1,152 Change in valuation allowance (1 ) (24 ) (58 ) Impact of tax reform (1,269 ) — — Other, net (419 ) 122 (263 ) Total $ 21,767 14,624 14,126 On December 22, 2017, the Tax Act was signed into law. Among other things, the Tax Act permanently reduced the corporate tax rate to 21% from the prior maximum rate of 35%, effective for tax years including or commencing January 1, 2018. As a result of the reduction of the corporate tax rate to 21%, companies are required to revalue their deferred tax assets and liabilities as of the date of enactment, with resulting tax effects accounted for in the fourth quarter of 2017. The Company continues to evaluate the impact on its 2017 tax expense/benefit of the revaluation required by the lower corporate tax rate implemented by the Tax Act, which management has estimated to be a tax benefit between $1.0 million and $1.5 million. During the fourth quarter of 2017, the Company recorded $1.3 million in tax benefit based on the Company's preliminary analysis of the impact of the Tax Act. The Company's preliminary estimate of the impact of the Tax Act is based on currently available information and interpretation of its provisions. The actual results may differ from the current estimate due to, among other things, further guidance that may be issued by U.S. tax authorities or regulatory bodies and/or changes in interpretations and assumptions that the Company has preliminarily made. The Company's evaluation of the impact of the Tax Act is subject to refinement for up to one year after enactment

Time Deposits and Related Party

Time Deposits and Related Party Deposits	12 Months Ended
	Dec. 31, 2017
Time Deposits and Related Party Deposits [Abstract]
Time Deposits and Related Party Deposits	Note 9. Time Deposits and Related Party Deposits At December 31, 2017, the scheduled maturities of time deposits were as follows: ($ in thousands) 2018 $ 638,942 2019 146,363 2020 45,725 2021 27,710 2022 23,689 Thereafter 4,306 $ 886,735 Deposits received from executive officers and directors and their associates totaled approximately $3,829,000 and $3,030,000 at December 31, 2017 and 2016, respectively. These deposit accounts have substantially the same terms, including interest rates, as those prevailing at the time for comparable transactions with other non-related depositors. As of December 31, 2017 and 2016, the Company held $405.1 million and $276.4 million, respectively, in time deposits of $250,000 or more (which is the current FDIC insurance limit for insured deposits as of December 31, 2017). Included in these deposits were brokered deposits of $234.0 million and $133.4 million at December 31, 2017 and 2016, respectively.

Borrowings and Borrowings Avail

Borrowings and Borrowings Availability	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Borrowings and Borrowings Availability	Note 10. Borrowings and Borrowings Availability The following tables present information regarding the Company’s outstanding borrowings at December 31, 2017 and 2016: Description – 2017 Due date Call Feature 2017 Interest Rate FHLB Term Note 1/05/2018 None $ 135,000,000 1.36% fixed FHLB Term Note 1/29/2018 None 68,000,000 1.41% fixed FHLB Term Note 4/18/2018 None 50,000,000 1.25% fixed FHLB Term Note 6/26/2018 None 20,000,000 1.67% fixed FHLB Term Note 9/28/2018 None 10,000,000 1.52% fixed FHLB Term Note 12/24/2018 None 20,000,000 1.57% fixed FHLB Term Note 5/29/2020 None 40,000,000 1.62% fixed FHLB Principal Reducing Credit 7/24/2023 None 250,000 1.00% fixed FHLB Principal Reducing Credit 12/22/2023 None 1,100,000 1.25% fixed FHLB Principal Reducing Credit 1/15/2026 None 8,500,000 1.98% fixed FHLB Principal Reducing Credit 6/26/2028 None 264,000 0.25% fixed FHLB Principal Reducing Credit 7/17/2028 None 66,000 0.00% fixed FHLB Principal Reducing Credit 8/18/2028 None 195,000 1.00% fixed FHLB Principal Reducing Credit 8/22/2028 None 195,000 1.00% fixed FHLB Principal Reducing Credit 12/20/2028 None 391,000 1.50% fixed Trust Preferred Securities 1/23/2034 Quarterly by Company 20,620,000 4.08% at 12/31/2017 Trust Preferred Securities 6/15/2036 Quarterly by Company 25,774,000 2.98% at 12/31/2017 Trust Preferred Securities 1/07/2035 Quarterly by Company 10,310,000 3.36% at 12/31/2017 Total borrowings / weighted average rate as of December 31, 2017 $ 410,665,000 1.72% Unamortized discount on acquired borrowings (3,122,000 ) Total borrowings $ 407,543,000 Description - 2016 Due date Call Feature 2016 Interest Rate FHLB Term Note 1/27/2017 None $ 20,000,000 0.61% fixed FHLB Term Note 1/30/2017 None 80,000,000 0.63% fixed FHLB Term Note 4/18/2017 None 50,000,000 0.70% fixed FHLB Term Note 12/26/2017 None 20,000,000 1.19% fixed FHLB Term Note 12/29/2017 None 35,000,000 0.80% fixed FHLB Term Note 12/24/2018 None 20,000,000 1.57% fixed Trust Preferred Securities 1/23/2034 Quarterly by Company 20,620,000 3.59% at 12/31/2016 Trust Preferred Securities 6/15/2036 Quarterly by Company 25,774,000 2.35% at 12/31/2016 Total borrowings / weighted average rate as of December 31, 2016 $ 271,394,000 1.16% All outstanding FHLB borrowings may be accelerated immediately by the FHLB in certain circumstances, including material adverse changes in the condition of the Company or if the Company’s qualifying collateral amounts to less than that required under the terms of the FHLB borrowing agreement. In the above tables, the $20.6 million in borrowings due on January 23, 2034 relate to borrowings structured as trust preferred capital securities that were issued by First Bancorp Capital Trusts II and III ($10.3 million by each trust), which are unconsolidated subsidiaries of the Company, on December 19, 2003 and qualify as capital for regulatory capital adequacy requirements. These unsecured debt securities are callable by the Company at par on any quarterly interest payment date beginning on January 23, 2009. The interest rate on these debt securities adjusts on a quarterly basis at a rate of three-month LIBOR plus 2.70%. In the above tables, the $25.8 million in borrowings due on June 15, 2036 relate to borrowings structured as trust preferred capital securities that were issued by First Bancorp Capital Trust IV, an unconsolidated subsidiary of the Company, on April 13, 2006 and qualify as capital for regulatory capital adequacy requirements. These unsecured debt securities are callable by the Company at par on any quarterly interest payment date beginning on June 15, 2011. The interest rate on these debt securities adjusts on a quarterly basis at a rate of three-month LIBOR plus 1.39%. In the above table for 2017, the $10.3 million in borrowings due on January 7, 2035 relate to borrowings structured as trust preferred capital securities that were issued by Carolina Capital Trust, an unconsolidated subsidiary of the Company. The Company acquired Carolina Bank Holdings, Inc. and its subsidiary, Carolina Capital Trust, on March 3, 2017. These unsecured debt securities qualify as capital for regulatory capital adequacy requirements and are callable by the Company at par on any quarterly interest payment date beginning on January 7, 2010. The interest rate on these debt securities adjusts on a quarterly basis at a rate of three-month LIBOR plus 2.00%. At December 31, 2017, the Company had three sources of readily available borrowing capacity – 1) an approximately $936 million line of credit with the FHLB, of which $354 million was outstanding at December 31, 2017 and $225 million was outstanding at December 31, 2016, 2) a $35 million federal funds line of credit with a correspondent bank, of which none was outstanding at December 31, 2017 or 2016, and 3) an approximately $109 million line of credit through the Federal Reserve Bank of Richmond’s (FRB) discount window, of which none was outstanding at December 31, 2017 or 2016. The Company’s line of credit with the FHLB totaling approximately $936 million can be structured as either short-term or long-term borrowings, depending on the particular funding or liquidity needs and is secured by the Company’s FHLB stock and a blanket lien on most of its real estate loan portfolio. The borrowing capacity was reduced by $198 million at December 31, 2017 and $193 million at December 31, 2016, as a result of the Company pledging letters of credit for public deposits at each of those dates. Accordingly, the Company’s unused FHLB line of credit was $384 million at December 31, 2017. The Company’s correspondent bank relationship allows the Company to purchase up to $35 million in federal funds on an overnight, unsecured basis (federal funds purchased). The Company had no borrowings outstanding under this line at December 31, 2017 or 2016. The Company has a line of credit with the FRB discount window. This line is secured by a blanket lien on a portion of the Company’s commercial and consumer loan portfolio (excluding real estate). Based on the collateral owned by the Company as of December 31, 2017, the available line of credit was approximately $109 million. The Company had no borrowings outstanding under this line of credit at December 31, 2017 or 2016.

Leases

Leases	12 Months Ended
	Dec. 31, 2017
Leases [Abstract]
Leases	Note 11. Leases Certain bank premises are leased under operating lease agreements. Generally, operating leases contain renewal options on substantially the same basis as current rental terms. Rent expense charged to operations under all operating lease agreements was $2.3 million in 2017, $1.5 million in 2016, and $1.2 million in 2015. Future obligations for minimum rentals under noncancelable operating leases at December 31, 2017 are as follows: ($ in thousands) Year ending December 31: 2018 $ 1,692 2019 1,524 2020 1,182 2021 975 2022 767 Thereafter 4,390 Total $ 10,530

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2017
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 12. Employee Benefit Plans 401(k) Plan Pension Plan 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. As discussed below, the contributions are invested to provide for benefits under the Pension Plan. The Company did not make any contributions to the Pension Plan in 2017, 2016 or 2015. If needed, the Company expects to contribute an amount sufficient to fully fund the Plan at the time of the expected liquidation in 2018. The following table reconciles the beginning and ending balances of the Pension Plan’s benefit obligation, as computed by the Company’s independent actuarial consultants, and its plan assets, with the difference between the two amounts representing the funded status of the Pension Plan as of the end of the respective year. ($ in thousands) 2017 2016 2015 Change in benefit obligation Benefit obligation at beginning of year $ 36,840 36,164 35,615 Service cost — — — Interest cost 1,449 1,502 1,364 Actuarial (gain) loss 1,941 1,288 1,236 Benefits paid (2,080 ) (2,114 ) (2,051 ) Benefit obligation at end of year 38,150 36,840 36,164 Change in plan assets Plan assets at beginning of year 36,950 35,489 37,282 Actual return on plan assets 6,436 3,575 258 Employer contributions — — — Benefits paid (2,080 ) (2,114 ) (2,051 ) Plan assets at end of year 41,306 36,950 35,489 Funded status at end of year $ 3,156 110 (675 ) The accumulated benefit obligation related to the Pension Plan was $38,150,000, $36,840,000, and $36,164,000 at December 31, 2017, 2016, and 2015, respectively. The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2017 and 2016 as it relates to the Pension Plan, excluding the related deferred tax assets. ($ in thousands) 2017 2016 Other assets $ 3,156 110 Other liabilities — — $ 3,156 110 The following table presents information regarding the amounts recognized in accumulated other comprehensive income (“AOCI”) at December 31, 2017 and 2016, as it relates to the Pension Plan. ($ in thousands) 2017 2016 Net gain (loss) $ (3,925 ) (5,856 ) Prior service cost — — Amount recognized in AOCI before tax effect (3,925 ) (5,856 ) Tax (expense) benefit 1,452 2,164 Net amount recognized as increase (decrease) to AOCI $ (2,473 ) (3,692 ) The following table reconciles the beginning and ending balances of AOCI at December 31, 2017 and 2016, as it relates to the Pension Plan: ($ in thousands) 2017 2016 Accumulated other comprehensive loss at beginning of fiscal year $ (3,692 ) (3,466 ) Net gain (loss) arising during period 1,686 (412 ) Amortization of unrecognized actuarial loss 244 238 Tax (expense) benefit of changes during the year, net (711 ) (52 ) Accumulated other comprehensive gain (loss) (2,473 ) (3,692 ) Reclassification from AOCI to Retained Earnings due to statutory tax changes (436 ) — Accumulated other comprehensive gain (loss) at end of fiscal year $ (2,909 ) (3,692 ) The following table reconciles the beginning and ending balances of the prepaid pension cost related to the Pension Plan: ($ in thousands) 2017 2016 Prepaid pension cost as of beginning of fiscal year $ 5,965 5,007 Net periodic pension income (cost) for fiscal year 1,117 958 Actual employer contributions — — Prepaid pension asset as of end of fiscal year $ 7,082 5,965 Net pension (income) cost for the Pension Plan included the following components for the years ended December 31, 2017, 2016, and 2015: ($ in thousands) 2017 2016 2015 Service cost – benefits earned during the period $ — — — Interest cost on projected benefit obligation 1,449 1,502 1,364 Expected return on plan assets (2,810 ) (2,698 ) (2,847 ) Net amortization and deferral 244 238 — Net periodic pension (income) cost $ (1,117 ) (958 ) (1,483 ) The following table is an estimate of the benefits that will be paid in accordance with the Pension Plan during the indicated time periods, assuming the Pension Plan is operated on an ongoing basis. As previously noted, the Company intends to terminate and liquidate the Pension Plan in 2018, which would result in the settlement of all benefits. ($ in thousands) Estimated Year ending December 31, 2018 $ 1,539 Year ending December 31, 2019 1,711 Year ending December 31, 2020 1,764 Year ending December 31, 2021 1,867 Year ending December 31, 2022 1,910 Years ending December 31, 2023-2027 10,039 For each of the years ended December 31, 2017, 2016, and 2015, the Company used an expected long-term rate-of-return-on-assets assumption of 7.75%. The Company arrived at this rate based primarily on a third-party investment consulting firm’s historical analysis of investment returns, which indicated that the mix of the Pension Plan’s assets (generally 75% equities and 25% fixed income) can be expected to return approximately 7.75% on a long term basis. In December 2017, as a result of the Company’s intent to terminate and liquidate the Pension Plan, the Pension Plan’s assets were all shifted into a money market fund. Prior to the re-allocation of the Funds in the Pension Plan in December 2017, the Funds were invested in a mix of investment types in accordance with the Pension Plan’s investment policy, which was intended to provide an average annual rate of return of 7% to 10%, while maintaining proper diversification. The fair values of the Company’s pension plan assets at December 31, 2017, by asset category, are as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Fixed income investments Money market funds $ 41,306 — 41,306 — Total $ 41,306 — 41,306 — The fair values of the Company’s pension plan assets at December 31, 2016, by asset category, are as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Fixed income investments Money market funds $ 9,590 — 9,590 — Equity investments Large cap value fund 15,595 15,595 — — Small cap growth fund 2,624 2,624 — — Mid cap equity fund 3,220 3,220 — — Foreign equity fund 2,669 2,669 — — Company stock 3,252 3,252 — — Total $ 36,950 27,360 9,590 — The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2017 and 2016. - Money market fund: Valued at net asset value (“NAV”), which can be validated with a sufficient level of observable activity (i.e. purchases and sales at NAV), and therefore, the funds were classified within Level 2 of the fair value hierarchy. - Mutual funds: Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission and are deemed to be actively traded. - Common stock: Valued at the closing price reported on the active market on which the individual securities are traded. Supplemental Executive Retirement Plan The following table reconciles the beginning and ending balances of the SERP’s benefit obligation, as computed by the Company’s independent actuarial consultants: ($ in thousands) 2017 2016 2015 Change in benefit obligation Projected benefit obligation at beginning of year $ 5,910 5,778 5,216 Service cost 118 106 201 Interest cost 227 238 206 Actuarial (gain) loss 85 145 497 Benefits paid (370 ) (357 ) (342 ) Projected benefit obligation at end of year 5,970 5,910 5,778 Plan assets — — — Funded status at end of year $ (5,970 ) (5,910 ) (5,778 ) The accumulated benefit obligation related to the SERP was $5,970,000, $5,910,000, and $5,778,000 at December 31, 2017, 2016, and 2015, respectively. The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2017 and 2016 as it relates to the SERP, excluding the related deferred tax assets. ($ in thousands) 2017 2016 Other assets – prepaid pension asset (liability) $ (6,695 ) (6,754 ) Other assets (liabilities) 725 844 $ (5,970 ) (5,910 ) The following table presents information regarding the amounts recognized in AOCI at December 31, 2017 and 2016, as it relates to the SERP: ($ in thousands) 2017 2016 Net gain (loss) $ 725 844 Prior service cost — — Amount recognized in AOCI before tax effect 725 844 Tax (expense) benefit (268 ) (311 ) Net amount recognized as increase (decrease) to AOCI $ 457 533 The following table reconciles the beginning and ending balances of AOCI at December 31, 2017 and 2016, as it relates to the SERP: ($ in thousands) 2017 2016 Accumulated other comprehensive income at beginning of fiscal year $ 533 625 Net gain (loss) arising during period (85 ) (145 ) Prior service cost — — Amortization of unrecognized actuarial loss (34 ) (35 ) Amortization of prior service cost and transition obligation — — Tax benefit (expense) related to changes during the year, net 43 88 Accumulated other comprehensive income (loss) at end of fiscal year $ 457 533 The following table reconciles the beginning and ending balances of the prepaid pension cost related to the SERP: ($ in thousands) 2017 2016 Prepaid pension cost (liability) as of beginning of fiscal year $ (6,754 ) (6,802 ) Net periodic pension cost for fiscal year (311 ) (309 ) Benefits paid 370 357 Prepaid pension cost (liability) as of end of fiscal year $ (6,695 ) (6,754 ) Net pension cost for the SERP included the following components for the years ended December 31, 2017, 2016, and 2015: ($ in thousands) 2017 2016 2015 Service cost – benefits earned during the period $ 118 106 201 Interest cost on projected benefit obligation 227 238 206 Net amortization and deferral (34 ) (35 ) (79 ) Net periodic pension cost $ 311 309 328 The following table is an estimate of the benefits that will be paid in accordance with the SERP during the indicated time periods: ($ in thousands) Estimated Year ending December 31, 2018 $ 414 Year ending December 31, 2019 411 Year ending December 31, 2020 408 Year ending December 31, 2021 420 Year ending December 31, 2022 415 Years ending December 31, 2023-2027 2,041 The following assumptions were used in determining the actuarial information for the Pension Plan and the SERP for the years ended December 31, 2017, 2016, and 2015: 2017 2016 2015 Pension SERP Pension SERP Pension SERP Discount rate used to determine net periodic pension cost 3.97% 3.97% 4.17% 4.17% 3.82% 3.82% Discount rate used to calculate end of year liability disclosures 3.46% 3.46% 3.97% 3.97% 4.17% 4.17% Expected long-term rate of return on assets 7.75% n/a 7.75% n/a 7.75% n/a Rate of compensation increase n/a n/a n/a n/a n/a n/a The Company’s discount rate policy is based on a calculation of the Company’s expected pension payments, with those payments discounted using the Citigroup Pension Index yield curve.

Commitments, Contingencies, and

Commitments, Contingencies, and Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies, and Concentrations of Credit Risk	Note 13. Commitments, Contingencies, and Concentrations of Credit Risk See Note 11 with respect to future obligations under noncancelable operating leases. In the normal course of the Company’s business, there are various outstanding commitments and contingent liabilities such as commitments to extend credit that are not reflected in the financial statements. The following table presents the Company’s outstanding loan commitments at December 31, 2017. ($ in millions) Type of Commitment Fixed Rate Variable Rate Total Outstanding closed-end loan commitments $ 225 456 681 Unfunded commitments on revolving lines of credit, credit cards and home equity loans 144 513 657 Total $ 369 969 1,338 At December 31, 2017 and 2016, the Company had $15.2 million and $12.7 million, respectively, in standby letters of credit outstanding. The Company has no carrying amount for these standby letters of credit at either of those dates. The nature of the standby letters of credit is a guarantee made on behalf of the Company’s customers to suppliers of the customers to guarantee payments owed to the supplier by the customer. The standby letters of credit are generally for terms for one year, at which time they may be renewed for another year if both parties agree. The payment of the guarantees would generally be triggered by a continued nonpayment of an obligation owed by the customer to the supplier. The maximum potential amount of future payments (undiscounted) the Company could be required to make under the guarantees in the event of nonperformance by the parties to whom credit or financial guarantees have been extended is represented by the contractual amount of the standby letter of credit. In the event that the Company is required to honor a standby letter of credit, a note, already executed with the customer, is triggered which provides repayment terms and any collateral. Over the past two years, the Company has only had to honor a few standby letters of credit, which have been or are being repaid by the borrower without any loss to the Company. Management expects any draws under existing commitments to be funded through normal operations. The Company is not involved in any legal proceedings which, in management’s opinion, could have a material effect on the consolidated financial position of the Company. The Bank grants primarily commercial and installment loans to customers throughout its market area, which consists of Anson, Beaufort, Bladen, Brunswick, Buncombe, Cabarrus, Carteret, Chatham, Columbus, Cumberland, Dare, Davidson, Duplin, Guilford, Harnett, Henderson, Hoke, Iredell, Lee, Madison, McDowell, Mecklenburg, Montgomery, Moore, New Hanover, Onslow, Pitt, Randolph, Richmond, Robeson, Rockingham, Rowan, Scotland, Stanly, Transylvania and Wake Counties in North Carolina, and Chesterfield, Dillon, and Florence Counties in South Carolina. The real estate loan portfolio can be affected by the condition of the local real estate market. The commercial and installment loan portfolios can be affected by local economic conditions. The Company’s loan portfolio is not concentrated in loans to any single borrower or to a relatively small number of borrowers. Additionally, management is not aware of any concentrations of loans to classes of borrowers or industries that would be similarly affected by economic conditions. In addition to monitoring potential concentrations of loans to particular borrowers or groups of borrowers, industries and geographic regions, the Company monitors exposure to credit risk that could arise from potential concentrations of lending products and practices such as loans that subject borrowers to substantial payment increases (e.g. principal deferral periods, loans with initial interest-only periods, etc.), and loans with high loan-to-value ratios. Additionally, there are industry practices that could subject the Company to increased credit risk should economic conditions change over the course of a loan’s life. For example, the Company makes variable rate loans and fixed rate principal-amortizing loans with maturities prior to the loan being fully paid (i.e. balloon payment loans). These loans are underwritten and monitored to manage the associated risks. The Company has determined that there is no concentration of credit risk associated with its lending policies or practices. The Company’s investment portfolio consists principally of obligations of government-sponsored enterprises, mortgage-backed securities guaranteed by government-sponsored enterprises, corporate bonds, and general obligation municipal securities. The Company also holds stock with the Federal Reserve Bank and the Federal Home Loan Bank as a requirement for membership in the system. The following are the fair values at December 31, 2017 of securities to any one issuer/guarantor that exceed $2.0 million, with such amounts representing the maximum amount of credit risk that the Company would incur if the issuer did not repay the obligation. ( $ in thousands Issuer Amortized Cost Fair Value Fannie Mae – mortgage-backed securities $ 154,606 153,561 Freddie Mac – mortgage-backed securities 107,712 106,722 Ginnie Mae – mortgage-backed securities 63,812 63,030 Small Business Administration securities 34,821 34,378 Federal Home Loan Bank of Atlanta - common stock 19,647 19,647 Federal Reserve Bank - common stock 11,691 11,691 Bank of America corporate bonds 7,000 7,153 Federal Home Loan Bank System - bonds 6,500 6,440 Citigroup, Inc. corporate bonds 6,035 6,096 North Carolina State municipal bonds 5,589 5,608 Goldman Sachs Group Inc. corporate bond 5,090 5,132 JP Morgan Chase corporate bond 5,022 5,075 Fannie Mae – bond 5,000 4,945 Financial Institutions, Inc. corporate bond 4,000 4,175 Spartanburg, South Carolina Sanitary Sewer District municipal bonds 3,851 3,982 Craven County, North Carolina municipal bonds 3,532 3,623 Wells Fargo & Company corporate bond 3,096 3,124 Eagle Bancorp corporate bond 2,549 2,500 Freddie Mac – bond 2,500 2,482 South Carolina State municipal bonds 2,179 2,312 Cary, North Carolina municipal bonds 2,023 2,049 Virginia State Housing Authority municipal bond 2,003 2,010 The Company primarily places its deposits and correspondent accounts with the Federal Home Loan Bank of Atlanta, the Federal Reserve Bank, Pacific Coast Bankers Bank (“PCBB”), and Bank of America. At December 31, 2017, the Company had deposits in the Federal Home Loan Bank of Atlanta totaling $3.8 million, deposits of $368.4 million in the Federal Reserve Bank, deposits of $0.1 million in PCBB, and deposits of $55.4 million in Bank of America. None of the deposits held at the Federal Home Loan Bank of Atlanta or the Federal Reserve Bank are FDIC-insured, however the Federal Reserve Bank is a government entity and therefore risk of loss is minimal. The deposits held at PCBB and Bank of America are FDIC-insured up to $250,000.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2017
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Note 14. Fair Value of Financial Instruments 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 December 31, 2017. ($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 13,867 — 13,867 — Mortgage-backed securities 295,213 — 295,213 — Corporate bonds 34,190 — 34,190 — Total available for sale securities $ 343,270 — 343,270 — Nonrecurring Impaired loans $ 14,086 — — 14,086 Foreclosed real estate 12,571 — — 12,571 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 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, commercial mortgage-backed 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 December 31, 2017, the significant unobservable inputs used in the fair value measurements were as follows: ($ in thousands) Description Fair Value at Valuation Significant Unobservable General Range Impaired loans $ 14,086 Appraised value; PV of expected cash flows Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0-10% Foreclosed real estate 12,571 Appraised value; List or contract price Discounts to reflect current market conditions 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 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 years ended December 31, 2017 or 2016. For the year ended December 31, 2017, the increase in the fair value of securities available for sale was $639,000, and for the year ended December 31, 2016, the decrease in the fair value of securities available for sale was $1,919,000, which is included in other comprehensive income (net of tax expense of $234,000 and tax benefit of $683,000, for 2017 and 2016, respectively). Fair value measurement methods at December 31, 2017 and 2016 are consistent with those used in prior reporting periods. As discussed in Note 1(p), the Company is required to disclose estimated fair values for its financial instruments. Fair value estimates as of December 31, 2017 and 2016 and limitations thereon are set forth below for the Company’s financial instruments. See Note 1(p) for a discussion of fair value methods and assumptions, as well as fair value information for off-balance sheet financial instruments. December 31, 2017 December 31, 2016 ($ in thousands) Level in Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 114,301 114,301 71,645 71,645 Due from banks, interest-bearing Level 1 375,189 375,189 234,348 234,348 Securities available for sale Level 2 343,270 343,270 199,329 199,329 Securities held to maturity Level 2 118,503 118,998 129,713 130,195 Presold mortgages in process of settlement Level 1 12,459 12,459 2,116 2,116 Total loans, net of allowance Level 3 4,019,071 4,010,551 2,686,931 2,650,820 Accrued interest receivable Level 1 14,094 14,094 9,286 9,286 Bank-owned life insurance Level 1 99,162 99,162 74,138 74,138 Deposits Level 2 4,406,955 4,401,757 2,947,353 2,944,968 Borrowings Level 2 407,543 397,903 271,394 263,255 Accrued interest payable Level 2 1,235 1,235 539 539 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.

Equity-Based Compensation Plans

Equity-Based Compensation Plans	12 Months Ended
	Dec. 31, 2017
Equity-Based Compensation Plans [Abstract]
Equity-Based Compensation Plans	Note 15. Equity-Based Compensation Plans The Company recorded total stock-based compensation expense of $1,095,000, $714,000 and $710,000 for the years ended December 31, 2017, 2016, and 2015, respectively. Of the $1,095,000 in expense that was recorded in 2017, approximately $320,000 related to the June 1, 2017 director grants discussed below, and is classified as “other operating expenses” in the Consolidated Statements of Income. The remaining $775,000 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 $405,000, $264,000, and $277,000 of income tax benefits related to stock based compensation expense in the income statement for the years ended December 31, 2017, 2016, and 2015, respectively. At December 31, 2017, the Company had the following equity-based compensation plans: the First Bancorp 2014 Equity Plan and the First Bancorp 2007 Equity Plan. The Company’s shareholders approved all equity-based compensation plans. The First Bancorp 2014 Equity Plan became effective upon the approval of shareholders on May 8, 2014. As of December 31, 2017, the First Bancorp 2014 Equity Plan was the only plan that had shares available for future grants, and there were 809,690 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 $282,000, $220,000 and $93,000, for the years ended December 31, 2017, 2016 and 2015, respectively. In the last three years, the Compensation Committee of the Company’s Board of Directors also granted 130,059 shares of stock to various employees of the Company to promote retention. The total value associated with these grants amounted to $2.8 million, and is being recorded as expense over their three year vesting periods. For 2017, 2016, and 2015, total compensation expense related to these grants was $491,000, $366,000, and $488,000, respectively. All grants were issued based on the closing price of the Company’s common stock on the date of the grant. Based on the vesting schedules of the shares of restricted stock currently outstanding, the Company expects to record $733,000 in stock-based compensation expense in 2018. The following table presents information regarding the activity during 2015, 2016, and 2017 related to the Company’s outstanding restricted stock: Long-Term Restricted Stock Number of Weighted- Nonvested at January 1, 2015 50,438 $ 11.42 Granted during the period 65,618 17.28 Vested during the period (20,117 ) 17.44 Forfeited or expired during the period (40,610 ) 9.87 Nonvested at December 31, 2015 55,329 $ 17.31 Granted during the period 65,255 19.40 Vested during the period (28,794 ) 17.79 Forfeited or expired during the period — — Nonvested at December 31, 2016 91,790 $ 18.65 Granted during the period 48,322 31.05 Vested during the period (28,275 ) 20.05 Forfeited or expired during the period (8,535 ) 18.34 Nonvested at December 31, 2017 103,302 $ 24.09 In years prior to 2009, stock options were the 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 December 31, 2017, there were 38,689 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 since January 1, 2015 related to all of the Company’s stock options outstanding: Options Outstanding Number of Weighted- Weighted- Aggregate Balance at January 1, 2015 179,102 $ 18.55 Granted — — Exercised (7,353 ) 15.20 $ 19,843 Forfeited — — Expired (54,341 ) 19.93 Balance at December 31, 2015 117,408 $ 18.12 Granted — — Exercised (23,710 ) 15.84 $ 81,894 Forfeited — — Expired (33,750 ) 21.39 Balance at December 31, 2016 59,948 $ 17.18 Granted — — Exercised (21,259 ) 19.16 $ 236,584 Forfeited — — Expired — — Outstanding at December 31, 2017 38,689 $ 16.09 0.67 $ 743,679 Exercisable at December 31, 2017 38,689 $ 16.09 0.67 $ 743,679 In 2017, 2016 and 2015, the Company received $287,000, $375,000 and $112,000, respectively, as a result of stock option exercises. The following table summarizes information about the stock options outstanding at December 31, 2017: Options Outstanding Options Exercisable Range of Exercise Prices Number Weighted- Weighted- Number Weighted- $13.27 to $15.48 9,000 1.4 $ 14.35 9,000 $ 14.35 $15.48 to $17.70 29,689 0.4 16.61 29,689 16.61 38,689 0.7 $ 16.09 38,689 $ 16.09

Regulatory Restrictions

Regulatory Restrictions	12 Months Ended
	Dec. 31, 2017
Regulatory Restrictions [Abstract]
Regulatory Restrictions	Note 16. Regulatory Restrictions The Company is regulated by the Board of Governors of the Federal Reserve System (“FRB”) and is subject to securities registration and public reporting regulations of the Securities and Exchange Commission. The Bank is regulated by the FRB and the North Carolina Commissioner of Banks. The primary source of funds for the payment of dividends by the Company is dividends received from its subsidiary, the Bank. The Bank, as a North Carolina banking corporation, may declare dividends so long as such dividends do not reduce its capital below its applicable required capital (typically, the level of capital required to be deemed “adequately capitalized.”) As of December 31, 2017, approximately $580,000,000 of the Company’s investment in the Bank is restricted as to transfer to the Company without obtaining prior regulatory approval. The average reserve balance maintained by the Bank under the requirements of the FRB was approximately $9,924,000 for the year ended December 31, 2017. The Company and the Bank must comply with regulatory capital requirements established by the FRB. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s and Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. In 2013, the FRB approved final rules implementing the Basel Committee on Banking Supervision capital guidelines, referred to a “Basel III.” The final rules established a new “Common Equity Tier I” ratio; new higher capital ratio requirements, including a capital conservation buffer; narrowed the definitions of capital; imposed new operating restrictions on banking organizations with insufficient capital buffers; and increased the risk weighting of certain assets. The final rules became effective January 1, 2015 for the Company. The capital conservation buffer requirement was phased in beginning January 1, 2016, at 0.625% of risk weighted assets, and will increase each year until fully implemented at 2.5% in January 1, 2019. The capital conservation buffer requirement at December 31, 2017 was 1.25%. As of December 31, 2017, the capital standards require the Company to maintain minimum ratios of “Common Equity Tier I” capital to total risk-weighted assets, “Tier I” capital to total risk-weighted assets, and total capital to risk-weighted assets of 4.50%, 6.00% and 8.00%, respectively. Common Equity Tier I capital is comprised of common stock and related surplus, plus retained earnings, and is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities. Tier I capital is comprised of Common Equity Tier I capital plus Additional Tier I Capital, which for the Company includes non-cumulative perpetual preferred stock and trust preferred securities. Total capital is comprised of Tier I capital plus certain adjustments, the largest of which is our allowance for loan losses. Risk-weighted assets refer to our on- and off-balance sheet exposures, adjusted for their related risk levels using formulas set forth in FRB and FDIC regulations. In addition to the risk-based capital requirements described above, the Company and the Bank are subject to a leverage capital requirement, which calls for a minimum ratio of Tier I capital (as defined above) to quarterly average total assets of 3.00% to 5.00%, depending upon the institution’s composite ratings as determined by its regulators. The FRB has not advised the Company of any requirement specifically applicable to it. In addition to the minimum capital requirements described above, the regulatory framework for prompt corrective action also contains specific capital guidelines applicable to banks for classification as “well capitalized,” which are presented with the minimum ratios, the Company’s ratios and the Bank’s ratios as of December 31, 2017 and 2016 in the following table. Based on the most recent notification from its regulators, the Bank is well capitalized under the framework. There are no conditions or events since that notification that management believes have changed the Company’s classification. Also see Note 19 for discussion of preferred stock transactions that have affected the Company’s capital ratios. Actual Fully Phased-In Regulatory To Be Well Capitalized ($ in thousands) Amount Ratio Amount Ratio Amount Ratio (must equal or exceed) (must equal or exceed) As of December 31, 2017 Common Equity Tier I Capital Ratio Company $ 456,826 10.72% $ 298,406 7.00% $ N/A N/A Bank 507,496 11.91% 298,277 7.00% 276,972 6.50% Total Capital Ratio Company 532,907 12.50% 447,609 10.50% N/A N/A Bank 531,612 12.48% 447,416 10.50% 426,111 10.00% Tier I Capital Ratio Company 508,791 11.94% 362,350 8.50% N/A N/A Bank 507,496 11.91% 362,194 8.50% 340,889 8.00% Leverage Ratio Company 508,791 9.58% 212,536 4.00% N/A N/A Bank 507,496 9.57% 212,224 4.00% 265,281 5.00% As of December 31, 2016 Common Equity Tier I Capital Ratio Company $ 308,712 10.92% $ 197,968 7.00% $ N/A N/A Bank 350,578 12.40% 197,858 7.00% 183,725 6.50% Total Capital Ratio Company 377,847 13.36% 296,952 10.50% N/A N/A Bank 375,062 13.27% 296,787 10.50% 282,654 10.00% Tier I Capital Ratio Company 353,363 12.49% 240,390 8.50% N/A N/A Bank 350,578 12.40% 240,256 8.50% 226,124 8.00% Leverage Ratio Company 353,363 10.17% 138,981 4.00% N/A N/A Bank 350,578 10.10% 138,908 4.00% 173,634 5.00%

Supplementary Income Statement

Supplementary Income Statement Information	12 Months Ended
	Dec. 31, 2017
Supplementary Income Statement Information [Abstract]
Supplementary Income Statement Information	Note 17. Supplementary Income Statement Information Components of other noninterest income/expense exceeding 1% of total income for any of the years ended December 31, 2017, 2016, and 2015 are as follows: ($ in thousands) 2017 2016 2015 Other service charges, commissions, and fees – debit card interchange income $ 7,732 6,564 6,433 Other service charges, commissions, and fees – other interchange income 3,722 3,018 2,288 Other operating expenses – data processing expense 2,910 2,010 1,935 Other operating expenses – credit/debit card processing expense 2,797 2,296 2,181 Other operating expenses – marketing 2,549 1,999 1,674 Other operating expenses – outside consultants 2,511 1,700 1,677 Other operating expenses – telephone and data line expense 2,470 2,311 2,133 Other operating expenses – stationery and supplies 2,399 2,066 2,039 Other operating expenses – FDIC insurance expense 2,350 2,009 2,394 Other operating expenses – dues and subscriptions 1,889 1,604 1,710 Other operating expenses – repossession and collection 1,736 1,842 2,167 Other operating expenses – legal and audit 1,497 1,408 1,689

Condensed Parent Company Inform

Condensed Parent Company Information	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Parent Company Information	Note 18. Condensed Parent Company Information Condensed financial data for First Bancorp (parent company only) follows: CONDENSED BALANCE SHEETS As of December 31, ($ in thousands) 2017 2016 Assets Cash on deposit with bank subsidiary $ 4,535 4,530 Investment in wholly-owned subsidiaries, at equity 745,669 410,261 Premises and Equipment 7 7 Other assets — 1,659 Total assets $ 750,211 416,457 Liabilities and shareholders’ equity Trust preferred securities $ 53,758 46,394 Other liabilities 3,474 1,962 Total liabilities 57,232 48,356 Shareholders’ equity 692,979 368,101 Total liabilities and shareholders’ equity $ 750,211 416,457 CONDENSED STATEMENTS OF INCOME Year Ended December 31, ($ in thousands) 2017 2016 2015 Dividends from wholly-owned subsidiaries $ 52,732 9,000 72,500 Earnings of wholly-owned subsidiaries, net of dividends (4,793 ) 20,517 (43,328 ) Interest expense (1,867 ) (1,216 ) (1,032 ) All other income and expenses, net (100 ) (792 ) (1,106 ) Net income 45,972 27,509 27,034 Preferred stock dividends — (175 ) (603 ) Net income available to common shareholders $ 45,972 27,334 26,431 CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, ($ in thousands) 2017 2016 2015 Operating Activities: Net income $ 45,972 27,509 27,034 Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries) 4,793 (20,517 ) 43,328 Decrease in other assets 283 15 1 Increase (decrease) in other liabilities (67 ) 130 (272 ) Total – operating activities 50,981 7,137 70,091 Investing Activities: Downstream cash investment to subsidiary (9,000 ) — — Note receivable proceeds received 3,054 Proceeds from sales of investments 174 — — Net cash paid in acquisitions (37,664 ) — — Total - investing activities (43,436 ) — — Financing Activities: Payment of preferred and common cash dividends (7,596 ) (6,632 ) (7,105 ) Redemption of preferred stock — — (63,500 ) Proceeds from issuance of common stock 287 375 112 Stock withheld for payment of taxes (231 ) (166 ) (54 ) Total - financing activities (7,540 ) (6,423 ) (70,547 ) Net increase (decrease) in cash 5 714 (456 ) Cash, beginning of year 4,530 3,816 4,272 Cash, end of year $ 4,535 4,530 3,816

Preferred Stock

Preferred Stock	12 Months Ended
	Dec. 31, 2017
Preferred Stock
Preferred Stock	Note 19. Preferred Stock Small Business Lending Fund On September 1, 2011, the Company completed the sale of $63.5 million of Series B Preferred Stock to the Secretary of the Treasury under the Small Business Lending Fund (“SBLF”). The fund was established under the Small Business Jobs Act of 2010 that was created to encourage lending to small businesses by providing capital to qualified community banks with assets less than $10 billion. Under the terms of the stock purchase agreement, the Treasury received 63,500 shares of non-cumulative perpetual preferred stock with a liquidation value of $1,000 per share, in exchange for $63.5 million. On June 25, 2015, the Company redeemed $32 million (32,000 shares) of the outstanding SBLF stock. The shares were redeemed at their liquidation value of $1,000 per share plus accrued dividends. On October 16, 2015, the Company redeemed the remaining $31.5 million (31,500 shares) of the outstanding SBLF stock. The shares were redeemed at their liquidation value of $1,000 per share plus accrued dividends. With these redemptions, the Company ended its participation in the SBLF. For the twelve months ended December 31, 2015, the Company accrued approximately $370,000 in preferred dividend payments for the Series B Preferred Stock. This amount is deducted from net income in computing “Net income available to common shareholders.” Stock Issuance On December 21, 2012, the Company issued 2,656,294 shares of its common stock and 728,706 shares of the Company’s Series C Preferred Stock to certain accredited investors, each at the price of $10.00 per share, pursuant to a private placement transaction. Net proceeds from this sale of common and preferred stock were $33.8 million and were used to strengthen and remove risk from the Company’s balance sheet in anticipation of a planned disposition of certain classified loans and write-down of foreclosed real estate. On December 22, 2016, the Company and the holder of the Series C Preferred Stock entered into an agreement to 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. The Company accrued approximately $175,000, and $233,000 in preferred dividend payments for the Series C Preferred Stock during 2016 and 2015, respectively.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2017
Disclosure Text Block [Abstract]
Subsequent Event	Note 20. Subsequent Event In February 2018, the Company received loan recoveries totaling $2.7 million on two loans that had been previously charged-off. Including those recoveries, the Company has recorded $3.3 million in total net recoveries from January 1, 2018 through February 28, 2018.

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation - The consolidated financial statements include the accounts of First Bancorp (the “Company”) and its wholly owned subsidiary - First Bank (the “Bank”). The Bank has three wholly owned subsidiaries that are fully consolidated - First Bank Insurance Services, Inc. (“First Bank Insurance”), SBA Complete, Inc. (“SBA Complete”), and First Troy SPE, LLC. All significant intercompany accounts and transactions have been eliminated. Subsequent events have been evaluated through the date of filing this Form 10-K. The Company is a bank holding company. The principal activity of the Company is the ownership and operation of the Bank, a state chartered bank with its main office in Southern Pines, North Carolina. The Company is also the parent company for a series of statutory trusts that were formed at various times since 2002 for the purpose of issuing trust preferred debt securities. The trusts are not consolidated for financial reporting purposes; however, notes issued by the Company to the trusts in return for the proceeds from the issuance of the trust preferred securities are included in the consolidated financial statements and have terms that are substantially the same as the corresponding trust preferred securities. The trust preferred securities qualify as capital for regulatory capital adequacy requirements. First Bank Insurance is an agent for property and casualty insurance policies. SBA Complete is a firm that specializes in providing consulting services for financial institutions across the country related to Small Business Administration (“SBA”) loan origination and servicing. First Troy SPE, LLC was formed in order to hold and dispose of certain real estate foreclosed upon by the Bank. The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates made by the Company in the preparation of its consolidated financial statements are the determination of the allowance for loan losses, the valuation of other real estate, the accounting and impairment testing related to intangible assets, and the fair value and discount accretion of acquired loans.
Reclassifications	(b) Reclassifications - Certain amounts for prior years have been reclassified to conform to the 2017 presentation. The reclassifications had no effect on net income or shareholders’ equity as previously presented, nor did they materially impact trends in financial information.
Business Combinations	(c) Business Combinations The Company typically issues common stock and/or pays cash for an acquisition, depending on the terms of the acquisition agreement. The value of common shares issued is determined based on the market price of the stock as of the closing of the acquisition.
Cash and Cash Equivalents	(d) Cash and Cash Equivalents - The Company considers all highly liquid assets such as cash on hand, noninterest-bearing and interest-bearing amounts due from banks and federal funds sold to be “cash equivalents.”
Securities	(e) Securities - Debt securities that the Company has the positive intent and ability to hold to maturity are classified as “held to maturity” and carried at amortized cost. Securities not classified as held to maturity are classified as “available for sale” and carried at fair value, with unrealized gains and losses being reported as other comprehensive income or loss and reported as a separate component of shareholders’ equity. A decline in the market value of any available for sale or held to maturity security below cost that is deemed to be other than temporary results in a reduction in carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. Any equity security that is in an unrealized loss position for twelve consecutive months is presumed to be other than temporarily impaired and an impairment charge is recorded unless the amount of the charge is insignificant. Gains and losses on sales of securities are recognized at the time of sale based upon the specific identification method. Premiums and discounts are amortized into income on a level yield basis, with premiums being amortized to the earliest call date and discounts being accreted to the stated maturity date.
Premises and Equipment	(f) Premises and Equipment - Premises and equipment are stated at cost less accumulated depreciation. Depreciation, computed by the straight-line method, is charged to operations over the estimated useful lives of the properties, which range from 2 to 40 years or, in the case of leasehold improvements, over the term of the lease, if shorter. Maintenance and repairs are charged to operations in the year incurred. Gains and losses on dispositions are included in current operations.
Loans	(g) Loans – The Company does not hold a significant amount of interest-only strips, loans, other receivables, or retained interests in securitizations that can be contractually prepaid or otherwise settled in a way that it would not recover substantially all of its recorded investment. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date. No allowance for loan losses is carried over from the seller or otherwise recorded on the purchase date. The Company follows specific accounting guidance related to purchased impaired loans. A loan is considered to be a purchased credit impaired loan when purchased loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the Company will not collect all contractually required principal and interest payments. Evidence of credit quality deterioration as of the purchase date may include statistics such as past due, risk grade and nonaccrual status. At the acquisition date, when possible, a stream of expected cash flows is estimated and compared to the estimated fair value in order to determine the accretable yield amount, which is then recognized over the life of the loan based on the effective yield method. Throughout the life of the loan, the stream of expected cash flows may change based on actual results of the loan or the assumptions related to the future performance. Subsequent changes of expected cash flows may result in changes to accretable yield if the present value of expected cash flows exceeds the carrying value or an impairment reserve if the present value of expected cash flows is less than the carrying amount. For purchased impaired loans for which the timing and amount of cash flows expected to be collected cannot be reasonably estimated, the Company uses the cost recovery method of income recognition. Under the cost recovery method of income recognition, all cash receipts are initially applied to principal, with interest income being recorded only after the carrying value of the loan has been reduced to zero. For nonimpaired purchased loans, the Company accretes any fair value discount over the life of the loan in a manner consistent with the guidance for accounting for loan origination fees and costs. An allowance for loan losses is recorded for these loans when the estimated credit losses exceed the remaining unamortized discounts, based on pools of similar loans. A loan is placed on nonaccrual status when, in management’s judgment, the collection of interest appears doubtful. The accrual of interest is discontinued on all loans that become 90 days or more past due with respect to principal or interest. The past due status of loans is based on the contractual payment terms. While a loan is on nonaccrual status, the Company’s policy is that all cash receipts are applied to principal. Once the recorded principal balance has been reduced to zero, future cash receipts are applied to recoveries of any amounts previously charged off. Further cash receipts are recorded as interest income to the extent that any interest has been foregone. Loans are removed from nonaccrual status when they become current as to both principal and interest, when concern no longer exists as to the collectability of principal or interest, and when the loan has provided generally six months of satisfactory payment performance. In some cases, where borrowers are experiencing financial difficulties, loans may be restructured to provide terms significantly different from the originally contracted terms. For a nonaccrual loan that has been restructured, if the borrower has six months of satisfactory performance under the restructured terms and it is reasonably assured that the borrower will continue to be able to comply with the restructured terms, the loan may be returned to accruing status. The nonaccrual policy discussed above applies to all loan classifications. A loan is considered to be impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. A loan is specifically evaluated for an appropriate valuation allowance if the loan balance is above a prescribed evaluation threshold (which varies based on credit quality, accruing status, troubled debt restructured status, and type of collateral) and the loan is determined to be impaired. Impaired loans are measured using either 1) an estimate of the cash flows that the Company expects to receive from the borrower discounted at the loan’s effective rate, or 2) in the case of a collateral-dependent loan, the fair value of the collateral less estimated selling costs. Unless restructured, while a loan is considered to be impaired, the Company’s policy is that interest accrual is discontinued and all cash receipts are applied to principal. Once the recorded principal balance has been reduced to zero, future cash receipts are applied to recoveries of any amounts previously charged off. Further cash receipts are recorded as interest income to the extent that any interest has been foregone. Impaired loans that are restructured are returned to accruing status in accordance with the restructured terms if the Company believes that the borrower will be able to meet the obligations of the restructured loan terms, and the loan has provided generally six months of satisfactory payment performance. The impairment policy discussed above applies to all loan classifications.
Presold Mortgages in Process of Settlement	(h) Presold Mortgages in Process of Settlement - As a part of normal business operations, the Company originates residential mortgage loans that have been pre-approved by secondary investors to be sold on a best efforts basis. The terms of the loans are set by the secondary investors, and the purchase price that the investor will pay for the loan is agreed to prior to the funding of the loan by the Company. Generally within three weeks after funding, the loans are transferred to the investor in accordance with the agreed-upon terms. The Company records gains from the sale of these loans on the settlement date of the sale equal to the difference between the proceeds received and the carrying amount of the loan. The gain generally represents the portion of the proceeds attributed to service release premiums received from the investors and the realization of origination fees received from borrowers that were deferred as part of the carrying amount of the loan. Between the initial funding of the loans by the Company and the subsequent reimbursement by the investors, the Company carries the loans on its balance sheet at the lower of cost or market.
Loans Held for Sale	(i) Loans Held for Sale Periodically, the Company originates other types of commercial loans and decides to sell them in the secondary market. The Company carries these loans at the lower of cost or fair value at each reporting date. There were no such loans held for sale as of December 31, 2017 or 2016.
Allowance for Loan Losses	(j) Allowance for Loan Losses - The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged-off against the allowance for loan losses when management believes that the collectability of the principal is unlikely. Recoveries on loans previously charged-off are added back to the allowance. The provision for loan losses charged to operations is an amount sufficient to bring the allowance for loan losses to an estimated balance considered adequate to absorb losses inherent in the portfolio. Management’s determination of the adequacy of the allowance is based on several factors, including: 1. Risk grades assigned to the loans in the portfolio, 2. Specific reserves for individually evaluated impaired loans, 3. Current economic conditions, including the local, state, and national economic outlook; interest rate risk; trends in loan volume, mix and size of loans; levels and trends of delinquencies, 4. Historical loan loss experience, and 5. An assessment of the risk characteristics of the Company’s loan portfolio, including industry concentrations, payment structures, changes in property values, and credit administration practices. While management uses the best information available to make evaluations, future adjustments may be necessary if economic and other conditions differ substantially from the assumptions used. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on the examiners’ judgment about information available to them at the time of their examinations.
Foreclosed Real Estate	(k) Foreclosed Real Estate - Foreclosed real estate consists primarily of real estate acquired by the Company through legal foreclosure or deed in lieu of foreclosure. The property is initially carried at the lower of cost (generally the loan balance plus additional costs incurred for improvements to the property) or the estimated fair value of the property less estimated selling costs (also see Note 14). If there are subsequent declines in fair value, which is reviewed routinely by management, the property is written down to its fair value through a charge to expense. Capital expenditures made to improve the property are capitalized. Costs of holding real estate, such as property taxes, insurance and maintenance, less related revenues during the holding period, are recorded as expense.
Income Taxes	(l) Income Taxes - Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not expected to be realized based upon available evidence. The Company’s investment tax credits, which are low income housing tax credits and state historic tax credits, are recorded in the period that they are reflected in the Company’s tax returns.
Intangible Assets	(m) Intangible Assets - Business combinations are accounted for using the purchase method of accounting. Identifiable intangible assets are recognized separately and are amortized over their estimated useful lives, which for the Company has generally been seven to ten years and at an accelerated rate. Goodwill is recognized in business combinations to the extent that the price paid exceeds the fair value of the net assets acquired, including any identifiable intangible assets. Goodwill is not amortized, but as discussed in Note 1(s), is subject to fair value impairment tests on at least an annual basis.
Bank-owned life insurance	(n) Bank-owned life insurance
Other Investments	(o) Other Investments Under the cost method of accounting, the Company records an investment in stock at cost and generally recognizes cash dividends received as income. If cash dividends received exceed the Company’s relative ownership of the investee’s earnings since the investment date, these payments are considered a return of investment and reduce the cost of the investment. Under the equity method of accounting, the Company records its initial investment at cost. Subsequently, the carrying amount of the investment is increased or decreased to reflect the Company’s share of income or loss of the investee. The Company’s recognition of earnings or losses from an equity method investment is based on the Company’s ownership percentage in the investee and the investee’s earnings on a quarterly basis. The investees generally provide their financial information during the quarter following the end of a given period. The Company’s policy is to record its share of earnings or losses on equity method investments in the quarter the financial information is received. All of the Company’s investments in limited partnerships, LLCs, and other companies are privately held, and their market values are not readily available. The Company’s management evaluates its investments in investees for impairment based on the investee’s ability to generate cash through its operations or obtain alternative financing, and other subjective factors. There are inherent risks associated with the Company’s investments in such companies, which may result in income statement volatility in future periods. At December 31, 2017 and 2016, the Company’s investments in limited partnerships, LLCs and other privately held companies totaled $5.3 million and $3.1 million, respectively, and were included in other assets.
Stock Option Plan	(p) Stock Option Plan - At December 31, 2017, the Company had two equity-based employee compensation plans, which are described more fully in Note 15. The Company accounts for these plans under the recognition and measurement principles of relevant accounting guidance.
Per Share Amounts	(q) Per Share Amounts - 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 years 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. In 2016 and 2015, the Company’s potentially dilutive common stock issuances also included the Company’s Series C Preferred stock, which was convertible into common stock on a one-for-one ratio. As discussed in Note 19, on December 22, 2016 each outstanding share of the Company’s Series C Preferred stock was exchanged by the holder for an equal number of shares of common stock. 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 Series C Preferred Stock for the period of time it was outstanding, it is assumed that the preferred stock was converted to common stock at the beginning of the reporting period. Dividends on the preferred stock are added back to net income in 2016 and 2015 and the shares assumed to be converted are 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 Years Ended December 31, 2017 2016 2015 ($ in thousands, Income Shares Per Income Shares Per Income Shares Per Basic EPS Net income available to common shareholders $ 45,972 25,210,606 $ 1.82 $ 27,334 19,964,727 $ 1.37 $ 26,431 19,767,470 $ 1.34 Effect of dilutive securities — 80,776 175 768,190 233 732,257 Diluted EPS per common share $ 45,972 25,291,382 $ 1.82 $ 27,509 20,732,917 $ 1.33 $ 26,664 20,499,727 $ 1.30 For the year ended December 31, 2017, there were no options that were anti-dilutive. For the years ended December 31, 2016 and 2015, there were 5,000 options and 50,000 options, respectively, that were anti-dilutive because the exercise price exceeded the average market price for the year, and thus are not included in the calculation to determine the effect of dilutive securities.
Fair Value of Financial Instruments	(r) Fair Value of Financial Instruments - Relevant accounting guidance requires that the Company disclose estimated fair values for its financial instruments. Fair value methods and assumptions are set forth below for the Company’s financial instruments. Cash and Amounts Due from Banks, Federal Funds Sold, 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. Commitments to Extend Credit and Standby Letters of Credit - At December 31, 2017 and 2016, the Company’s off-balance sheet financial instruments had no carrying value. The large majority of commitments to extend credit and 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 assets and other assets such as foreclosed properties, 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.
Impairment	(s) Impairment - Goodwill is evaluated for impairment on at least an annual basis by comparing the estimated fair value of the reporting units to their related carrying value. If the carrying value of a reporting unit exceeds its fair value, the Company determines whether the implied fair value of the goodwill, using various valuation techniques, exceeds the carrying value of the goodwill. If the carrying value of the goodwill exceeds the implied fair value of the goodwill, an impairment loss is recorded in an amount equal to that excess. The Company reviews all other long-lived assets, including identifiable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company’s policy is that an impairment loss is recognized if the sum of the undiscounted future cash flows is less than the carrying amount of the asset. Any long-lived assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. To date, the Company has not recorded any impairment write-downs of its long-lived assets or goodwill.
Comprehensive Income (Loss)	(t) 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) December 31, December 31, December 31, Unrealized gain (loss) on securities available for sale $ (2,211 ) (3,085 ) (1,163 ) Deferred tax asset (liability) 517 1,138 454 Net unrealized gain (loss) on securities available for sale (1,694 ) (1,947 ) (709 ) Additional pension asset (liability) (3,200 ) (5,012 ) (4,657 ) Deferred tax asset (liability) 748 1,852 1,816 Net additional pension asset (liability) (2,452 ) (3,160 ) (2,841 ) Total accumulated other comprehensive income (loss) $ (4,146 ) (5,107 ) (3,550 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the year ended December 31, 2017 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2017 $ (1,947 ) (3,160 ) (5,107 ) Other comprehensive income (loss) before reclassifications 405 1,008 1,413 Amounts reclassified from accumulated other comprehensive income 148 136 284 Net current-period other comprehensive income (loss) 553 1,144 1,697 Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes (300 ) (436 ) (736 ) Ending balance at December 31, 2017 $ (1,694 ) (2,452 ) (4,146 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the year ended December 31, 2016 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2016 $ (709 ) (2,841 ) (3,550 ) Other comprehensive income (loss) before reclassifications (1,236 ) (442 ) (1,678 ) Amounts reclassified from accumulated other comprehensive income (2 ) 123 121 Net current-period other comprehensive income (loss) (1,238 ) (319 ) (1,557 ) Ending balance at December 31, 2016 $ (1,947 ) (3,160 ) (5,107 )
Segment Reporting	(u) Segment Reporting - Accounting standards require management to report selected financial and descriptive information about reportable operating segments. The standards also require related disclosures about products and services, geographic areas, and major customers. Generally, disclosures are required for segments internally identified to evaluate performance and resource allocation. The Company’s operations are primarily within the banking segment, and the financial statements presented herein reflect the results of that segment. The Company has no foreign operations or customers.
Recent Accounting Pronouncements	(v) Recent Accounting Pronouncements - 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 Company can apply the guidance using a full retrospective approach or a modified retrospective approach. The Company’s revenue is comprised of net interest income and noninterest income. The scope of the guidance explicitly excludes net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives. Accordingly, the majority of the Company’s revenues will not be affected. The guidance 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 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. The Company does not expect these amendments to 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 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 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 Company will apply the amendments through a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption. While early adoption is permitted beginning in first quarter 2019, the Company does not expect to elect that option. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently evaluating the impact of this guidance on its consolidated financial statements; however, the Company expects the adoption of this guidance will result in an increase in the recorded allowance for loan losses. 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 January 2017, the FASB issued guidance to clarify the definition of a business in the Business Combinations topic of the Accounting Standards Codification 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 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 issued amended the Goodwill and Other Intangibles 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 this amendment 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 require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by pertinent employees during the period. The other components of net periodic benefit cost are required to be presented in the income statement separately from the service cost component. 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. In February 2018, the FASB issued guidance related to the Income Statement – Reporting Comprehensive Income topic, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017, which was signed into law on December 22, 2017. The guidance will be effective for all annual and interim periods beginning January 1, 2019, with early adoption permitted. The Company chose to early adopt the new standard for the year ending December 31, 2017, as allowed under the new standard. The amount of the reclassification for the Company was $0.7 million, as shown in the Consolidated Statement of Changes in Stockholder's Equity. 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.

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [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 Years Ended December 31, 2017 2016 2015 ($ in thousands, Income Shares Per Income Shares Per Income Shares Per Basic EPS Net income available to common shareholders $ 45,972 25,210,606 $ 1.82 $ 27,334 19,964,727 $ 1.37 $ 26,431 19,767,470 $ 1.34 Effect of dilutive securities — 80,776 175 768,190 233 732,257 Diluted EPS per common share $ 45,972 25,291,382 $ 1.82 $ 27,509 20,732,917 $ 1.33 $ 26,664 20,499,727 $ 1.30
Schedule of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive income (loss) for the Company are as follows: ($ in thousands) December 31, December 31, December 31, Unrealized gain (loss) on securities available for sale $ (2,211 ) (3,085 ) (1,163 ) Deferred tax asset (liability) 517 1,138 454 Net unrealized gain (loss) on securities available for sale (1,694 ) (1,947 ) (709 ) Additional pension asset (liability) (3,200 ) (5,012 ) (4,657 ) Deferred tax asset (liability) 748 1,852 1,816 Net additional pension asset (liability) (2,452 ) (3,160 ) (2,841 ) Total accumulated other comprehensive income (loss) $ (4,146 ) (5,107 ) (3,550 )
Schedule of changes in accumulated other comprehensive income (loss)	The following table discloses the changes in accumulated other comprehensive income (loss) for the year ended December 31, 2017 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2017 $ (1,947 ) (3,160 ) (5,107 ) Other comprehensive income (loss) before reclassifications 405 1,008 1,413 Amounts reclassified from accumulated other comprehensive income 148 136 284 Net current-period other comprehensive income (loss) 553 1,144 1,697 Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes (300 ) (436 ) (736 ) Ending balance at December 31, 2017 $ (1,694 ) (2,452 ) (4,146 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the year ended December 31, 2016 (all amounts are net of tax). ($ in thousands) Unrealized Gain Additional Total Beginning balance at January 1, 2016 $ (709 ) (2,841 ) (3,550 ) Other comprehensive income (loss) before reclassifications (1,236 ) (442 ) (1,678 ) Amounts reclassified from accumulated other comprehensive income (2 ) 123 121 Net current-period other comprehensive income (loss) (1,238 ) (319 ) (1,557 ) Ending balance at December 31, 2016 $ (1,947 ) (3,160 ) (5,107 )

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2017
Condensed Balance Sheet of Carolina Bank and Related Fair Value Adjustments	This acquisition was 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, and is currently awaiting information related to a contingent liability that was assumed in the acquisition. 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 $65.5 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ 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) (319 ) (m) 21,899 Core deposit intangible — 8,790 (g) — 8,790 Other 34,976 (4,804 ) (h) 2,225 (n) 32,397 Total 683,852 5,536 2,052 691,440 Liabilities Deposits $ 584,950 431 (i) — 585,381 Borrowings 21,855 (2,855 ) (j) (262 ) (o) 18,738 Other 12,855 225 (k) — 13,080 Total 619,660 (2,199 ) (262 ) 617,199 Net identifiable assets acquired 74,241 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 $ 65,516 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 miscellaneous adjustment to decrease the initial fair value of premises and equipment. (n) This fair value adjustment relates to changes in the estimate of deferred tax assets/liabilities associated with the acquisition and a miscellaneous adjustment to decrease the initial fair value of foreclosed real estate acquired in the transaction. (o) This fair value adjustment relates to miscellaneous adjustments to decrease the initial fair value of borrowings.
Pro Forma Combined Financial Results of the Company and Carolina Bank	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. Pro Forma Combined Pro Forma Combined Net interest income $ 168,759 147,089 Noninterest income 50,098 36,684 Total revenue 218,857 183,773 Net income available to common shareholders 49,907 25,364 Earnings per common share Basic $ 1.93 1.07 Diluted 1.92 1.03
Asheville Savings Bank [Member]
Condensed Balance Sheet of Carolina Bank and Related Fair Value Adjustments	This acquisition was accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of Asheville Savings Bank were recorded based on estimates of fair values as of October 1, 2017. The Company may change its valuations of acquired Asheville Savings 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 Asheville Savings Bank on October 1, 2017, and the related fair value adjustments recorded by the Company to reflect the acquisition. The $88.4 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ in thousands) As Recorded by Initial Fair Measurement As Assets Cash and cash equivalents $ 41,824 — — 41,824 Securities 95,020 — — 95,020 Loans, gross 617,159 (9,631 ) (a) — 606,180 (1,348 ) (b) — Allowance for loan losses (6,685 ) 6,685 (c) — — Presold mortgages 3,785 — — 3,785 Premises and equipment 10,697 9,857 (d) — 20,554 Core deposit intangible — 9,760 (e) — 9,760 Other 35,944 (5,851 ) (f) — 30,093 Total 797,744 9,472 — 807,216 Liabilities Deposits $ 678,707 430 (g) — 679,137 Borrowings 20,000 — — 20,000 Other 8,943 298 (h) — 9,241 Total 707,650 728 — 708,378 Net identifiable assets acquired 98,838 Total cost of acquisition Value of stock issued $ 169,299 Cash paid in the acquisition 17,939 Total cost of acquisition 187,238 Goodwill recorded related to acquisition of Asheville Savings Bank $ 88,400 Explanation of Fair Value Adjustments (a) 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. (b) This fair value adjustment was recorded to write-down purchased credit impairment loans assumed in the acquisition to their estimated fair market value. (c) This fair value adjustment reduced the allowance for loan losses to zero as required by relevant accounting guidance. (d) 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. (e) 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. (f) This fair value adjustment primarily represents the net deferred tax liability associated with the other fair value adjustments made to record the transaction. (g) This fair value adjustment was recorded because the weighted average interest rate of Asheville Savings 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. (h) This fair value adjustment represents miscellaneous adjustments needed to record assets and liabilities at their fair value. The following unaudited pro forma financial information presents the combined results of the Company and Asheville Savings 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 Asheville Savings Bank constituted a single entity during such period.
Pro Forma Combined Financial Results of the Company and Carolina Bank	The following unaudited pro forma financial information presents the combined results of the Company and Asheville Savings 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 Asheville Savings Bank constituted a single entity during such period. ($ in thousands, except share data) Pro Forma Combined Pro Forma Combined Net interest income $ 183,996 147,284 Noninterest income 54,523 34,307 Total revenue 238,391 181,591 Net income available to common shareholders 51,600 12,291 Earnings per common share Basic $ 1.79 0.49 Diluted 1.78 0.48

Securities (Tables)

Securities (Tables)	12 Months Ended
	Dec. 31, 2017
Securities [Abstract]
Book values and approximate fair values of investment securities	The book values and approximate fair values of investment securities at December 31, 2017 and 2016 are summarized as follows: 2017 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 $ 14,000 13,867 — (133 ) 17,497 17,490 — (7 ) Mortgage-backed securities 297,690 295,213 246 (2,722 ) 151,001 148,065 155 (3,091 ) Corporate bonds 33,792 34,190 512 (114 ) 33,833 33,600 91 (324 ) Equity securities — — — — 83 174 96 (5 ) Total available for sale $ 345,482 343,270 758 (2,969 ) 202,414 199,329 342 (3,427 ) Securities held to maturity: Mortgage-backed securities $ 63,829 63,092 — (737 ) 80,585 79,283 — (1,302 ) State and local governments 54,674 55,906 1,280 (48 ) 49,128 50,912 1,815 (31 ) Total held to maturity $ 118,503 118,998 1,280 (785 ) 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 December 31, 2017: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 10,897 103 2,970 30 13,867 133 Mortgage-backed securities 192,702 1,582 125,060 1,877 317,762 3,459 Corporate bonds 2,500 49 935 65 3,435 114 State and local governments 7,928 48 — — 7,928 48 Total temporarily impaired securities $ 214,027 1,782 128,965 1,972 342,992 3,754 The following table presents information regarding securities with unrealized losses at December 31, 2016: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 7,990 7 — — 7,990 7 Mortgage-backed securities 196,999 3,841 19,001 552 216,000 4,393 Corporate bonds 27,027 259 935 65 27,962 324 Equity securities — — 7 5 7 5 State and local governments 801 31 — — 801 31 Total temporarily impaired securities $ 232,817 4,138 19,943 622 252,760 4,760
Schedule of book values and approximate fair values of investment securities by contractual maturity	The book values and approximate fair values of investment securities at December 31, 2017, by contractual maturity, are summarized in the table below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Available for Sale Securities Held to Maturity Amortized Fair Amortized Fair ($ in thousands) Cost Value Cost Value Debt securities Due within one year $ — — $ 2,257 2,258 Due after one year but within five years 15,007 14,905 23,285 23,795 Due after five years but within ten years 27,785 28,042 23,502 24,219 Due after ten years 5,000 5,110 5,630 5,634 Mortgage-backed securities 297,690 295,213 63,829 63,092 Total debt securities 345,482 343,270 118,503 118,998 Equity securities — — — — Total securities $ 345,482 343,270 $ 118,503 118,998

Loans and Asset Quality Infor33

Loans and Asset Quality Information (Tables)	12 Months Ended
	Dec. 31, 2017
Loans and Asset Quality Information [Abstract]
Summary of contractually required payments for Carolina Bank expected at acquisition date	The following table relates to acquired 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 The following table relates to acquired Ashville Savings 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) Asheville Savings Bank Contractually required payments $ 13,424 Nonaccretable difference (1,734 ) Cash flows expected to be collected at acquisition 11,690 Accretable yield (1,804 ) Fair value of PCI loans at acquisition date $ 9,886 The following table relates to acquired Asheville Savings 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) Asheville Savings Bank Contractually required payments $ 727,706 Fair value of acquired loans at acquisition date 595,167 Contractual cash flows not expected to be collected 7,000
Summary of the major categories of total loans outstanding	The following is a summary of the major categories of total loans outstanding: ($ in thousands) December 31, 2017 December 31, 2016 Amount Percentage Amount Percentage All loans: Commercial, financial, and agricultural $ 381,130 10% $ 261,813 9% Real estate – construction, land development & other land loans 539,020 13% 354,667 13% Real estate – mortgage – residential (1-4 family) first mortgages 972,772 24% 750,679 28% Real estate – mortgage – home equity loans / lines of credit 379,978 9% 239,105 9% Real estate – mortgage – commercial and other 1,696,107 42% 1,049,460 39% Installment loans to individuals 74,348 2% 55,037 2% Subtotal 4,043,355 100% 2,710,761 100% Unamortized net deferred loan costs (fees) (986 ) (49 ) Total loans $ 4,042,369 $ 2,710,712
Schedule of activity in covered purchased nonimpaired loans	The following table presents information regarding covered purchased nonimpaired loans since January 1, 2015. The amounts include principal only and do not reflect accrued interest as of the date of the acquisition or beyond. All balances of covered loans were transferred to non-covered as of the termination of the loss share agreements. ($ in thousands) Carrying amount of nonimpaired covered loans at January 1, 2015 $ 125,644 Principal repayments (30,238 ) Transfers to foreclosed real estate (1,211 ) Net loan recoveries 2,306 Accretion of loan discount 4,751 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 changes in the carrying value of PCI loans. ($ in thousands) Purchased Credit Impaired Loans For the Year For the Year Balance at beginning of period $ 514 1,970 Additions due to acquisition of Carolina Bank 19,254 — Additions due to acquisition of Asheville Savings Bank 9,886 — Change due to payments received and accretion (6,016 ) (1,386 ) Change due to loan charge-offs (12 ) (70 ) Transfers to foreclosed real estate (69 ) — Other (392 ) — Balance at end of period $ 23,165 514 The following table presents changes in the accretable yield for PCI loans. ($ in thousands) Accretable Yield for PCI loans For the Year For the Year Balance at beginning of period $ — — Additions due to acquisition of Carolina Bank 3,617 — Additions due to acquisition of Asheville Savings Bank 1,804 — Accretion (1,846 ) — Reclassification from (to) nonaccretable difference 423 — Other, net 690 — Balance at end of period $ 4,688 —
Summary of nonperforming assets	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) December 31, December 31, Nonperforming assets Nonaccrual loans $ 20,968 27,468 Restructured loans - accruing 19,834 22,138 Accruing loans > 90 days past due — — Total nonperforming loans 40,802 49,606 Foreclosed real estate 12,571 9,532 Total nonperforming assets $ 53,373 59,138 Purchased credit impaired loans not included above (1) $ 23,165 — (1) In the March 3, 2017 acquisition of Carolina Bank Holdings, Inc. and the October 1, 2017 acquisition of ASB Bancorp, Inc., the Company acquired $19.3 million and $9.9 million, respectively, in PCI loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $0.6 million in PCI loans at December 31, 2017 that are contractually past due 90 days or more.
Schedule of nonaccrual loans	The following is a summary the Company’s nonaccrual loans by major categories. ($ in thousands) December 31, December 31, Commercial, financial, and agricultural $ 1,001 1,842 Real estate – construction, land development & other land loans 1,822 2,945 Real estate – mortgage – residential (1-4 family) first mortgages 12,201 16,017 Real estate – mortgage – home equity loans / lines of credit 2,524 2,355 Real estate – mortgage – commercial and other 3,345 4,208 Installment loans to individuals 75 101 Total $ 20,968 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 December 31, 2017. ($ in thousands) Accruing Accruing Accruing 90 Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 89 151 — 1,001 379,241 380,482 Real estate – construction, land development & other land loans 1,154 214 — 1,822 535,423 538,613 Real estate – mortgage – residential (1-4 family) first mortgages 6,777 1,370 — 12,201 943,565 963,913 Real estate – mortgage – home equity loans / lines of credit 1,347 10 — 2,524 375,814 379,695 Real estate – mortgage – commercial and other 1,270 451 — 3,345 1,678,529 1,683,595 Installment loans to individuals 445 95 — 75 73,277 73,892 Purchased credit impaired 821 77 601 — 21,666 23,165 Total $ 11,903 2,368 601 20,968 4,007,515 4,043,355 Unamortized net deferred loan fees (986 ) Total loans $ 4,042,369 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 90 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 the year ended December 31, 2017. There were no covered loans at December 31, 2017 and all reserves associated with previously covered loans were transferred to the non-covered allowance. ($ in thousands) Commercial, Real Estate – Real Estate Real Estate Real Estate Installment Unallo- Total As of and for the year ended December 31, 2017 Beginning balance $ 3,829 2,691 7,704 2,420 5,098 1,145 894 23,781 Charge-offs (1,622 ) (589 ) (2,641 ) (978 ) (1,182 ) (799 ) — (7,811 ) Recoveries 1,311 2,579 1,076 333 1,027 279 — 6,605 Provisions (407 ) (1,865 ) 8 52 1,532 325 1,078 723 Ending balance $ 3,111 2,816 6,147 1,827 6,475 950 1,972 23,298 Ending balances as of December 31, 2017: Allowance for loan losses Individually evaluated for impairment $ 215 18 1,099 — 232 — — 1,564 Collectively evaluated for impairment $ 2,896 2,798 4,831 1,788 6,226 950 1,972 21,461 Purchased credit impaired $ — — 217 39 17 — — 273 Loans receivable as of December 31, 2017: Ending balance – total $ 381,130 539,020 972,772 379,978 1,696,107 74,348 — 4,043,355 Unamortized net deferred loan fees (986 ) Total loans $ 4,042,369 Ending balances as of December 31, 2017: Loans Individually evaluated for impairment $ 579 2,975 14,800 368 8,493 — — 27,215 Collectively evaluated for impairment $ 379,903 535,638 949,113 379,327 1,675,102 73,892 — 3,992,975 Purchased credit impaired $ 648 407 8,859 283 12,512 456 — 23,165 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
Schedule of impaired loans individually evaluated	The following table presents loans individually evaluated for impairment by class of loans, excluding purchased credit impaired loans, as of December 31, 2017. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 183 425 — 276 Real estate – mortgage – construction, land development & other land loans 2,743 3,941 — 2,846 Real estate – mortgage – residential (1-4 family) first mortgages 5,205 5,728 — 7,067 Real estate – mortgage –home equity loans / lines of credit 368 387 — 129 Real estate – mortgage –commercial and other 3,066 3,321 — 3,143 Installment loans to individuals — — — — Total impaired loans with no allowance $ 11,565 13,802 — 13,461 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 396 396 215 214 Real estate – mortgage – construction, land development & other land loans 232 241 18 503 Real estate – mortgage – residential (1-4 family) first mortgages 9,595 9,829 1,099 10,077 Real estate – mortgage –home equity loans / lines of credit — — — 66 Real estate – mortgage –commercial and other 5,427 5,427 232 5,369 Installment loans to individuals — — — — Total impaired loans with allowance $ 15,650 15,893 1,564 16,229 Interest income recorded on impaired loans during the year ended December 31, 2017 was insignificant. The following table presents loans individually evaluated for impairment by class of loans, excluding purchased credit impaired 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 December 31, 2017. ($ in thousands) Pass Special Mention Classified Classified Total Commercial, financial, and agricultural $ 368,658 9,901 922 1,001 380,482 Real estate – construction, land development & other land loans 523,642 7,129 6,020 1,822 538,613 Real estate – mortgage – residential (1-4 family) first mortgages 905,111 16,235 30,366 12,201 963,913 Real estate – mortgage – home equity loans / lines of credit 365,982 3,784 7,405 2,524 379,695 Real estate – mortgage – commercial and other 1,647,725 23,335 9,190 3,345 1,683,595 Installment loans to individuals 73,379 222 216 75 73,892 Purchased credit impaired 6,541 12,309 4,315 — 23,165 Total $ 3,891,038 72,915 58,434 20,968 4,043,355 Unamortized net deferred loan fees (986 ) Total loans 4,042,369 The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2016. ($ in thousands) Pass Special Mention 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 years ended December 31, 2017 and 2016. ($ in thousands) For the year ended For the year ended Number of Pre- Post- Number of Pre- Post- TDRs – Accruing Commercial, financial, and agricultural — $ — $ — 1 $ 1,071 $ 1,071 Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages — — — 1 598 626 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 1 38 25 — — — Real estate – construction, land development & other land loans 1 32 32 — — — Real estate – mortgage – residential (1-4 family) first mortgages 1 215 215 1 155 184 Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 8 $ 3,835 $ 3,797 3 $ 1,824 $ 1,881 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 years ended December 31, 2017 and 2016 are presented in the table below. The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to foreclosed real estate. ($ in thousands) For the year ended For the year ended Number of Recorded Number of Recorded Accruing TDRs that subsequently defaulted Commercial, financial, and agricultural — $ — 2 $ 744 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 3 $ 765 Total covered accruing TDRs that subsequently defaulted included above — $ — 1 $ 44

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment	Premises and equipment at December 31, 2017 and 2016 consisted of the following: ($ in thousands) 2017 2016 Land $ 38,821 23,404 Buildings 92,337 67,032 Furniture and equipment 35,532 37,780 Leasehold improvements 2,409 2,192 Total cost 169,099 130,408 Less accumulated depreciation and amortization (52,866 ) (55,057 ) Net book value of premises and equipment $ 116,233 75,351

FDIC Indemnification Asset (Tab

FDIC Indemnification Asset (Tables)	12 Months Ended
	Dec. 31, 2017
FDIC Indemnification Asset [Abstract]
Rollforward of the FDIC indemnification asset	The following presents a rollforward of the FDIC indemnification asset from January 1, 2015 through the date of termination. ($ in thousands) Balance at January 1, 2015 $ 22,569 Increase (decrease) related to unfavorable (favorable) changes in loss estimates (3,031 ) Increase related to reimbursable expenses 1,232 Cash received (6,673 ) Decrease related to accretion of loan discount (5,584 ) Decrease related to settlement of disputed claims (406 ) Other 332 Balance at December 31, 2015 $ 8,439 Increase (decrease) related to unfavorable (favorable) changes in loss estimates (2,246 ) Increase related to reimbursable expenses 205 Cash paid 1,554 Decrease related to accretion of loan discount (2,005 ) Other (236 ) Write off of asset balance upon termination of FDIC loss share agreements effective September 22, 2016 (5,711 ) Balance at December 31, 2016 $ —

Goodwill and Other Intangible36

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Other Intangible Assets [Abstract]
Summary of the gross carrying amount and accumulated amortization of amortizable intangible assets and the carrying amount of unamortized intangible assets	The following is a summary of the gross carrying amount and accumulated amortization of amortized intangible assets as of December 31, 2017 and December 31, 2016 and the carrying amount of unamortized intangible assets as of those same dates. December 31, 2017 December 31, 2016 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Amortized intangible assets: Customer lists $ 6,013 1,090 2,369 746 Core deposit intangibles 28,280 11,475 9,730 8,143 SBA servicing asset 2,194 207 415 — Other 1,303 581 1,032 224 Total $ 37,790 13,353 13,546 9,113 Unamortized intangible assets: Goodwill $ 233,070 75,042 Activity related to transactions since January 1, 2016 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., 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 on July 15, 2016, the Company recorded a net increase of $1,961,000 in goodwill and $1,170,000 in a core deposit intangible. (4) In connection with the Carolina Bank acquisition on March 3, 2017, the Company recorded a net increase of $65,516,000 in goodwill and $8,790,000 in core deposit premiums. (5) In connection with the September 1, 2017 acquisition of Bear Insurance Service, the Company recorded $5,330,000 in goodwill, $3,644,000 in a customer list intangible, and $271,000 in other amortizable intangible assets. (6) In connection with the Asheville Savings Bank acquisition on October 1, 2017, the Company recorded a net increase of $88,400,000 in goodwill and $9,760,000 in a core deposit intangible.
Schedule of the estimated amortization expense for the five succeeding fiscal years	The following table presents the estimated amortization expense related to amortizable intangible assets, excluding SBA servicing assets, for each of the five calendar years ending December 31, 2022 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortized intangible assets. ($ in thousands) Estimated 2018 $ 5,917 2019 4,858 2020 3,841 2021 2,927 2022 2,022 Thereafter 2,885 Total $ 22,450

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of income tax allocation	Total income taxes for the years ended December 31, 2017, 2016, and 2015 were allocated as follows: ($ In thousands) 2017 2016 2015 Allocated to net income $ 21,767 14,624 14,126 Allocated to stockholders’ equity, for unrealized holding gain/loss on 321 (685 ) (184 ) Allocated to stockholders’ equity, for tax benefit of pension liabilities 668 (36 ) (1,716 ) Total income taxes $ 22,756 13,903 12,226
Schedule of components of Income tax expense	The components of income tax expense for the years ended December 31, 2017, 2016, and 2015 are as follows: ($ In thousands) 2017 2016 2015 Current - Federal $ 11,286 12,827 9,149 - State 1,996 1,679 1,436 Deferred - Federal 7,742 16 3,205 - State 743 102 336 Total $ 21,767 14,624 14,126
Scheule of deferred tax assets and liabilities	The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2017 and 2016 are presented below: ($ In thousands) 2017 2016 Deferred tax assets: Allowance for loan losses $ 5,448 8,758 Excess book over tax pension plan cost — 290 Deferred compensation 1,220 36 Federal & state net operating loss carryforwards 2,125 868 Accruals, book versus tax 2,546 2,287 Pension liability adjustments 748 1,852 Foreclosed real estate 740 610 Basis differences in assets acquired in FDIC transactions 1,311 2,539 Nonqualified stock options 248 545 Partnership investments 232 160 Unrealized gain on securities available for sale 517 1,138 SBA servicing asset 139 — All other 42 191 Gross deferred tax assets 15,316 19,274 Less: Valuation allowance (44 ) (43 ) Net deferred tax assets 15,272 19,231 Deferred tax liabilities: Loan fees (1,880 ) (1,548 ) Excess book over tax pension plan cost (95 ) — Depreciable basis of fixed assets (3,122 ) (954 ) Amortizable basis of intangible assets (7,915 ) (12,156 ) FHLB stock dividends (658 ) (409 ) Trust preferred securities (616 ) — Purchase accounting adjustments (2,133 ) — All other (28 ) (12 ) Gross deferred tax liabilities (16,447 ) (15,079 ) Net deferred tax asset (liability) - included in other assets $ (1,175 ) 4,152
Schedule of effective tax rate reconciliation	The following is a reconcilement of federal income tax expense at the statutory rate of 35% to the income tax provision reported in the financial statements. ($ In thousands) 2017 2016 2015 Tax provision at statutory rate $ 23,709 14,746 14,405 Increase (decrease) in income taxes resulting from: Tax-exempt interest income (1,461 ) (1,202 ) (930 ) Low income housing tax credits (596 ) (192 ) (191 ) Non-deductible interest expense 24 16 11 State income taxes, net of federal benefit 1,780 1,158 1,152 Change in valuation allowance (1 ) (24 ) (58 ) Impact of tax reform (1,269 ) — — Other, net (419 ) 122 (263 ) Total $ 21,767 14,624 14,126

Time Deposits and Related Par38

Time Deposits and Related Party Deposits (Tables)	12 Months Ended
	Dec. 31, 2017
Time Deposits and Related Party Deposits [Abstract]
Schedule of maturities of time deposits	At December 31, 2017, the scheduled maturities of time deposits were as follows: ($ in thousands) 2018 $ 638,942 2019 146,363 2020 45,725 2021 27,710 2022 23,689 Thereafter 4,306 $ 886,735

Borrowings and Borrowings Ava39

Borrowings and Borrowings Availability (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of debt	The following tables present information regarding the Company’s outstanding borrowings at December 31, 2017 and 2016: Description – 2017 Due date Call Feature 2017 Interest Rate FHLB Term Note 1/05/2018 None $ 135,000,000 1.36% fixed FHLB Term Note 1/29/2018 None 68,000,000 1.41% fixed FHLB Term Note 4/18/2018 None 50,000,000 1.25% fixed FHLB Term Note 6/26/2018 None 20,000,000 1.67% fixed FHLB Term Note 9/28/2018 None 10,000,000 1.52% fixed FHLB Term Note 12/24/2018 None 20,000,000 1.57% fixed FHLB Term Note 5/29/2020 None 40,000,000 1.62% fixed FHLB Principal Reducing Credit 7/24/2023 None 250,000 1.00% fixed FHLB Principal Reducing Credit 12/22/2023 None 1,100,000 1.25% fixed FHLB Principal Reducing Credit 1/15/2026 None 8,500,000 1.98% fixed FHLB Principal Reducing Credit 6/26/2028 None 264,000 0.25% fixed FHLB Principal Reducing Credit 7/17/2028 None 66,000 0.00% fixed FHLB Principal Reducing Credit 8/18/2028 None 195,000 1.00% fixed FHLB Principal Reducing Credit 8/22/2028 None 195,000 1.00% fixed FHLB Principal Reducing Credit 12/20/2028 None 391,000 1.50% fixed Trust Preferred Securities 1/23/2034 Quarterly by Company 20,620,000 4.08% at 12/31/2017 Trust Preferred Securities 6/15/2036 Quarterly by Company 25,774,000 2.98% at 12/31/2017 Trust Preferred Securities 1/07/2035 Quarterly by Company 10,310,000 3.36% at 12/31/2017 Total borrowings / weighted average rate as of December 31, 2017 $ 410,665,000 1.72% Unamortized discount on acquired borrowings (3,122,000 ) Total borrowings $ 407,543,000 Description - 2016 Due date Call Feature 2016 Interest Rate FHLB Term Note 1/27/2017 None $ 20,000,000 0.61% fixed FHLB Term Note 1/30/2017 None 80,000,000 0.63% fixed FHLB Term Note 4/18/2017 None 50,000,000 0.70% fixed FHLB Term Note 12/26/2017 None 20,000,000 1.19% fixed FHLB Term Note 12/29/2017 None 35,000,000 0.80% fixed FHLB Term Note 12/24/2018 None 20,000,000 1.57% fixed Trust Preferred Securities 1/23/2034 Quarterly by Company 20,620,000 3.59% at 12/31/2016 Trust Preferred Securities 6/15/2036 Quarterly by Company 25,774,000 2.35% at 12/31/2016 Total borrowings / weighted average rate as of December 31, 2016 $ 271,394,000 1.16%

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2017
Leases [Abstract]
Schedule of future minimum lease payments, operating lease	Future obligations for minimum rentals under noncancelable operating leases at December 31, 2017 are as follows: ($ in thousands) Year ending December 31: 2018 $ 1,692 2019 1,524 2020 1,182 2021 975 2022 767 Thereafter 4,390 Total $ 10,530

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2017
Schedule of assumptions used in determining actuarial information	The following assumptions were used in determining the actuarial information for the Pension Plan and the SERP for the years ended December 31, 2017, 2016, and 2015: 2017 2016 2015 Pension SERP Pension SERP Pension SERP Discount rate used to determine net periodic pension cost 3.97% 3.97% 4.17% 4.17% 3.82% 3.82% Discount rate used to calculate end of year liability disclosures 3.46% 3.46% 3.97% 3.97% 4.17% 4.17% Expected long-term rate of return on assets 7.75% n/a 7.75% n/a 7.75% n/a Rate of compensation increase n/a n/a n/a n/a n/a n/a
Pension Plan [Member]
Schedule of reconciliation of benefit obligation	The following table reconciles the beginning and ending balances of the Pension Plan’s benefit obligation, as computed by the Company’s independent actuarial consultants, and its plan assets, with the difference between the two amounts representing the funded status of the Pension Plan as of the end of the respective year. ($ in thousands) 2017 2016 2015 Change in benefit obligation Benefit obligation at beginning of year $ 36,840 36,164 35,615 Service cost — — — Interest cost 1,449 1,502 1,364 Actuarial (gain) loss 1,941 1,288 1,236 Benefits paid (2,080 ) (2,114 ) (2,051 ) Benefit obligation at end of year 38,150 36,840 36,164 Change in plan assets Plan assets at beginning of year 36,950 35,489 37,282 Actual return on plan assets 6,436 3,575 258 Employer contributions — — — Benefits paid (2,080 ) (2,114 ) (2,051 ) Plan assets at end of year 41,306 36,950 35,489 Funded status at end of year $ 3,156 110 (675 )
Schedule of amounts recognized in balance sheet	The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2017 and 2016 as it relates to the Pension Plan, excluding the related deferred tax assets. ($ in thousands) 2017 2016 Other assets $ 3,156 110 Other liabilities — — $ 3,156 110
Schedule of amounts recognized in other comprehensive income	The following table presents information regarding the amounts recognized in accumulated other comprehensive income (“AOCI”) at December 31, 2017 and 2016, as it relates to the Pension Plan. ($ in thousands) 2017 2016 Net gain (loss) $ (3,925 ) (5,856 ) Prior service cost — — Amount recognized in AOCI before tax effect (3,925 ) (5,856 ) Tax (expense) benefit 1,452 2,164 Net amount recognized as increase (decrease) to AOCI $ (2,473 ) (3,692 )
Schedule of reconciliation of balances in AOCI	The following table reconciles the beginning and ending balances of AOCI at December 31, 2017 and 2016, as it relates to the Pension Plan: ($ in thousands) 2017 2016 Accumulated other comprehensive loss at beginning of fiscal year $ (3,692 ) (3,466 ) Net gain (loss) arising during period 1,686 (412 ) Amortization of unrecognized actuarial loss 244 238 Tax (expense) benefit of changes during the year, net (711 ) (52 ) Accumulated other comprehensive gain (loss) (2,473 ) (3,692 ) Reclassification from AOCI to Retained Earnings due to statutory tax changes (436 ) — Accumulated other comprehensive gain (loss) at end of fiscal year $ (2,909 ) (3,692 )
Schedule of reconciliation of prepaid pension costs	The following table reconciles the beginning and ending balances of the prepaid pension cost related to the Pension Plan: ($ in thousands) 2017 2016 Prepaid pension cost as of beginning of fiscal year $ 5,965 5,007 Net periodic pension income (cost) for fiscal year 1,117 958 Actual employer contributions — — Prepaid pension asset as of end of fiscal year $ 7,082 5,965
Schedule of net pension costs	Net pension (income) cost for the Pension Plan included the following components for the years ended December 31, 2017, 2016, and 2015: ($ in thousands) 2017 2016 2015 Service cost – benefits earned during the period $ — — — Interest cost on projected benefit obligation 1,449 1,502 1,364 Expected return on plan assets (2,810 ) (2,698 ) (2,847 ) Net amortization and deferral 244 238 — Net periodic pension (income) cost $ (1,117 ) (958 ) (1,483 )
Schedule of expected benefit payments	The following table is an estimate of the benefits that will be paid in accordance with the Pension Plan during the indicated time periods, assuming the Pension Plan is operated on an ongoing basis. As previously noted, the Company intends to terminate and liquidate the Pension Plan in 2018, which would result in the settlement of all benefits. ($ in thousands) Estimated Year ending December 31, 2018 $ 1,539 Year ending December 31, 2019 1,711 Year ending December 31, 2020 1,764 Year ending December 31, 2021 1,867 Year ending December 31, 2022 1,910 Years ending December 31, 2023-2027 10,039
Schedule of fair value of plan assets	The fair values of the Company’s pension plan assets at December 31, 2017, by asset category, are as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Fixed income investments Money market funds $ 41,306 — 41,306 — Total $ 41,306 — 41,306 — The fair values of the Company’s pension plan assets at December 31, 2016, by asset category, are as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Fixed income investments Money market funds $ 9,590 — 9,590 — Equity investments Large cap value fund 15,595 15,595 — — Small cap growth fund 2,624 2,624 — — Mid cap equity fund 3,220 3,220 — — Foreign equity fund 2,669 2,669 — — Company stock 3,252 3,252 — — Total $ 36,950 27,360 9,590 —
SERP [Member]
Schedule of reconciliation of benefit obligation	The following table reconciles the beginning and ending balances of the SERP’s benefit obligation, as computed by the Company’s independent actuarial consultants: ($ in thousands) 2017 2016 2015 Change in benefit obligation Projected benefit obligation at beginning of year $ 5,910 5,778 5,216 Service cost 118 106 201 Interest cost 227 238 206 Actuarial (gain) loss 85 145 497 Benefits paid (370 ) (357 ) (342 ) Projected benefit obligation at end of year 5,970 5,910 5,778 Plan assets — — — Funded status at end of year $ (5,970 ) (5,910 ) (5,778 )
Schedule of amounts recognized in balance sheet	The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2017 and 2016 as it relates to the SERP, excluding the related deferred tax assets. ($ in thousands) 2017 2016 Other assets – prepaid pension asset (liability) $ (6,695 ) (6,754 ) Other assets (liabilities) 725 844 $ (5,970 ) (5,910 )
Schedule of amounts recognized in other comprehensive income	The following table presents information regarding the amounts recognized in AOCI at December 31, 2017 and 2016, as it relates to the SERP: ($ in thousands) 2017 2016 Net gain (loss) $ 725 844 Prior service cost — — Amount recognized in AOCI before tax effect 725 844 Tax (expense) benefit (268 ) (311 ) Net amount recognized as increase (decrease) to AOCI $ 457 533
Schedule of reconciliation of balances in AOCI	The following table reconciles the beginning and ending balances of AOCI at December 31, 2017 and 2016, as it relates to the SERP: ($ in thousands) 2017 2016 Accumulated other comprehensive income at beginning of fiscal year $ 533 625 Net gain (loss) arising during period (85 ) (145 ) Prior service cost — — Amortization of unrecognized actuarial loss (34 ) (35 ) Amortization of prior service cost and transition obligation — — Tax benefit (expense) related to changes during the year, net 43 88 Accumulated other comprehensive income (loss) at end of fiscal year $ 457 533
Schedule of reconciliation of prepaid pension costs	The following table reconciles the beginning and ending balances of the prepaid pension cost related to the SERP: ($ in thousands) 2017 2016 Prepaid pension cost (liability) as of beginning of fiscal year $ (6,754 ) (6,802 ) Net periodic pension cost for fiscal year (311 ) (309 ) Benefits paid 370 357 Prepaid pension cost (liability) as of end of fiscal year $ (6,695 ) (6,754 )
Schedule of net pension costs	Net pension cost for the SERP included the following components for the years ended December 31, 2017, 2016, and 2015: ($ in thousands) 2017 2016 2015 Service cost – benefits earned during the period $ 118 106 201 Interest cost on projected benefit obligation 227 238 206 Net amortization and deferral (34 ) (35 ) (79 ) Net periodic pension cost $ 311 309 328
Schedule of expected benefit payments	The following table is an estimate of the benefits that will be paid in accordance with the SERP during the indicated time periods: ($ in thousands) Estimated Year ending December 31, 2018 $ 414 Year ending December 31, 2019 411 Year ending December 31, 2020 408 Year ending December 31, 2021 420 Year ending December 31, 2022 415 Years ending December 31, 2023-2027 2,041

Commitments, Contingencies, a42

Commitments, Contingencies, and Concentrations of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of outstanding loan commitments	The following table presents the Company’s outstanding loan commitments at December 31, 2017. ($ in millions) Type of Commitment Fixed Rate Variable Rate Total Outstanding closed-end loan commitments $ 225 456 681 Unfunded commitments on revolving lines of credit, credit cards and home equity loans 144 513 657 Total $ 369 969 1,338
Schedule of maximum credit risk for securities	The following are the fair values at December 31, 2017 of securities to any one issuer/guarantor that exceed $2.0 million, with such amounts representing the maximum amount of credit risk that the Company would incur if the issuer did not repay the obligation. ( $ in thousands Issuer Amortized Cost Fair Value Fannie Mae – mortgage-backed securities $ 154,606 153,561 Freddie Mac – mortgage-backed securities 107,712 106,722 Ginnie Mae – mortgage-backed securities 63,812 63,030 Small Business Administration securities 34,821 34,378 Federal Home Loan Bank of Atlanta - common stock 19,647 19,647 Federal Reserve Bank - common stock 11,691 11,691 Bank of America corporate bonds 7,000 7,153 Federal Home Loan Bank System - bonds 6,500 6,440 Citigroup, Inc. corporate bonds 6,035 6,096 North Carolina State municipal bonds 5,589 5,608 Goldman Sachs Group Inc. corporate bond 5,090 5,132 JP Morgan Chase corporate bond 5,022 5,075 Fannie Mae – bond 5,000 4,945 Financial Institutions, Inc. corporate bond 4,000 4,175 Spartanburg, South Carolina Sanitary Sewer District municipal bonds 3,851 3,982 Craven County, North Carolina municipal bonds 3,532 3,623 Wells Fargo & Company corporate bond 3,096 3,124 Eagle Bancorp corporate bond 2,549 2,500 Freddie Mac – bond 2,500 2,482 South Carolina State municipal bonds 2,179 2,312 Cary, North Carolina municipal bonds 2,023 2,049 Virginia State Housing Authority municipal bond 2,003 2,010

Fair Value of Financial Instr43

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value of Financial Instruments [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 December 31, 2017. ($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 13,867 — 13,867 — Mortgage-backed securities 295,213 — 295,213 — Corporate bonds s 34,190 — 34,190 — Total available for sale securities $ 343,270 — 343,270 — Nonrecurring Impaired loans $ 14,086 — — 14,086 Foreclosed real estate 12,571 — — 12,571 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 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 December 31, 2017, the significant unobservable inputs used in the fair value measurements were as follows: ($ in thousands) Description Fair Value at Valuation Significant Unobservable General Range Impaired loans $ 14,086 Appraised value; PV of expected cash flows Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0-10% Foreclosed real estate 12,571 Appraised value; List or contract price Discounts to reflect current market conditions 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 and estimated costs to sell 0-10%
Schedule of the carrying amounts and estimated fair values of financial instruments	As discussed in Note 1(p), the Company is required to disclose estimated fair values for its financial instruments. Fair value estimates as of December 31, 2017 and 2016 and limitations thereon are set forth below for the Company’s financial instruments. See Note 1(p) for a discussion of fair value methods and assumptions, as well as fair value information for off-balance sheet financial instruments. December 31, 2017 December 31, 2016 ($ in thousands) Level in Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 114,301 $ 114,301 71,645 71,645 Due from banks, interest-bearing Level 1 375,189 375,189 234,348 234,348 Securities available for sale Level 2 343,270 343,270 199,329 199,329 Securities held to maturity Level 2 118,503 118,998 129,713 130,195 Presold mortgages in process of settlement Level 1 12,459 12,459 2,116 2,116 Total loans, net of allowance Level 3 4,019,071 4,010,551 2,686,931 2,650,820 Accrued interest receivable Level 1 14,094 14,094 9,286 9,286 Bank-owned life insurance Level 1 99,162 99,162 74,138 74,138 Deposits Level 2 4,406,955 4,401,757 2,947,353 2,944,968 Borrowings Level 2 407,543 397,903 271,394 263,255 Accrued interest payable Level 2 1,235 1,235 539 539

Equity-Based Compensation Pla44

Equity-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2017
Equity-Based Compensation Plans [Abstract]
Schedule of Company's stock options outstanding	The following table presents information regarding the activity since January 1, 2015 related to all of the Company’s stock options outstanding: Options Outstanding Number of Weighted- Weighted- Aggregate Balance at January 1, 2015 179,102 $ 18.55 Granted — — Exercised (7,353 ) 15.20 $ 19,843 Forfeited — — Expired (54,341 ) 19.93 Balance at December 31, 2015 117,408 $ 18.12 Granted — — Exercised (23,710 ) 15.84 $ 81,894 Forfeited — — Expired (33,750 ) 21.39 Balance at December 31, 2016 59,948 $ 17.18 Granted — — Exercised (21,259 ) 19.16 $ 236,584 Forfeited — — Expired — — Outstanding at December 31, 2017 38,689 $ 16.09 0.67 $ 743,679 Exercisable at December 31, 2017 38,689 $ 16.09 0.67 $ 743,679
Schedule of information about the stock options outstanding	The following table summarizes information about the stock options outstanding at December 31, 2017: Options Outstanding Options Exercisable Range of Exercise Prices Number Weighted- Weighted- Number Weighted- $13.27 to $15.48 9,000 1.4 $ 14.35 9,000 $ 14.35 $15.48 to $17.70 29,689 0.4 16.61 29,689 16.61 38,689 0.7 $ 16.09 38,689 $ 16.09
Schedule of outstanding restricted stock	The following table presents information regarding the activity during 2015, 2016, and 2017 related to the Company’s outstanding restricted stock: Long-Term Restricted Stock Number of Weighted- Nonvested at January 1, 2015 50,438 $ 11.42 Granted during the period 65,618 17.28 Vested during the period (20,117 ) 17.44 Forfeited or expired during the period (40,610 ) 9.87 Nonvested at December 31, 2015 55,329 $ 17.31 Granted during the period 65,255 19.40 Vested during the period (28,794 ) 17.79 Forfeited or expired during the period — — Nonvested at December 31, 2016 91,790 $ 18.65 Granted during the period 48,322 31.05 Vested during the period (28,275 ) 20.05 Forfeited or expired during the period (8,535 ) 18.34 Nonvested at December 31, 2017 103,302 $ 24.09

Regulatory Restrictions (Tables

Regulatory Restrictions (Tables)	12 Months Ended
	Dec. 31, 2017
Regulatory Restrictions [Abstract]
Schedule of capital ratios	Also see Note 19 for discussion of preferred stock transactions that have affected the Company’s capital ratios. Actual Fully Phased-In Regulatory To Be Well Capitalized ($ in thousands) Amount Ratio Amount Ratio Amount Ratio (must equal or exceed) (must equal or exceed) As of December 31, 2017 Common Equity Tier I Capital Ratio Company $ 456,826 10.72% $ 298,406 7.00% $ N/A N/A Bank 507,496 11.91% 298,277 7.00% 276,972 6.50% Total Capital Ratio Company 532,907 12.50% 447,609 10.50% N/A N/A Bank 531,612 12.48% 447,416 10.50% 426,111 10.00% Tier I Capital Ratio Company 508,791 11.94% 362,350 8.50% N/A N/A Bank 507,496 11.91% 362,194 8.50% 340,889 8.00% Leverage Ratio Company 508,791 9.58% 212,536 4.00% N/A N/A Bank 507,496 9.57% 212,224 4.00% 265,281 5.00% As of December 31, 2016 Common Equity Tier I Capital Ratio Company $ 308,712 10.92% $ 197,968 7.00% $ N/A N/A Bank 350,578 12.40% 197,858 7.00% 183,725 6.50% Total Capital Ratio Company 377,847 13.36% 296,952 10.50% N/A N/A Bank 375,062 13.27% 296,787 10.50% 282,654 10.00% Tier I Capital Ratio Company 353,363 12.49% 240,390 8.50% N/A N/A Bank 350,578 12.40% 240,256 8.50% 226,124 8.00% Leverage Ratio Company 353,363 10.17% 138,981 4.00% N/A N/A Bank 350,578 10.10% 138,908 4.00% 173,634 5.00%

Supplementary Income Statemen46

Supplementary Income Statement Information (Tables)	12 Months Ended
	Dec. 31, 2017
Supplementary Income Statement Information [Abstract]
Schedule of components of other noninterest income/expense	Components of other noninterest income/expense exceeding 1% of total income for any of the years ended December 31, 2017, 2016, and 2015 are as follows: ($ in thousands) 2017 2016 2015 Other service charges, commissions, and fees – debit card interchange income $ 7,732 6,564 6,433 Other service charges, commissions, and fees – other interchange income 3,722 3,018 2,288 Other operating expenses – data processing expense 2,910 2,010 1,935 Other operating expenses – credit/debit card processing expense 2,797 2,296 2,181 Other operating expenses – marketing 2,549 1,999 1,674 Other operating expenses – outside consultants 2,511 1,700 1,677 Other operating expenses – telephone and data line expense 2,470 2,311 2,133 Other operating expenses – stationery and supplies 2,399 2,066 2,039 Other operating expenses – FDIC insurance expense 2,350 2,009 2,394 Other operating expenses – dues and subscriptions 1,889 1,604 1,710 Other operating expenses – repossession and collection 1,736 1,842 2,167 Other operating expenses – legal and audit 1,497 1,408 1,689

Condensed Parent Company Info47

Condensed Parent Company Information (Tables)	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed financial data for First Bancorp (parent company only) CONDENSED BALANCE SHEETS	Condensed financial data for First Bancorp (parent company only) follows: CONDENSED BALANCE SHEETS As of December 31, ($ in thousands) 2017 2016 Assets Cash on deposit with bank subsidiary $ 4,535 4,530 Investment in wholly-owned subsidiaries, at equity 745,669 410,261 Premises and Equipment 7 7 Other assets — 1,659 Total assets $ 750,211 416,457 Liabilities and shareholders’ equity Trust preferred securities $ 53,758 46,394 Other liabilities 3,474 1,962 Total liabilities 57,232 48,356 Shareholders’ equity 692,979 368,101 Total liabilities and shareholders’ equity $ 750,211 416,457
Condensed financial data for First Bancorp (parent company only) CONDENSED STATEMENTS OF INCOME	CONDENSED STATEMENTS OF INCOME Year Ended December 31, ($ in thousands) 2017 2016 2015 Dividends from wholly-owned subsidiaries $ 52,732 9,000 72,500 Earnings of wholly-owned subsidiaries, net of dividends (4,793 ) 20,517 (43,328 ) Interest expense (1,867 ) (1,216 ) (1,032 ) All other income and expenses, net (100 ) (792 ) (1,106 ) Net income 45,972 27,509 27,034 Preferred stock dividends — (175 ) (603 ) Net income available to common shareholders $ 45,972 27,334 26,431
Condensed financial data for First Bancorp (parent company only) CONDENSED STATEMENTS OF CASH FLOWS	CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, ($ in thousands) 2017 2016 2015 Operating Activities: Net income $ 45,972 27,509 27,034 Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries) 4,793 (20,517 ) 43,328 Decrease in other assets 283 15 1 Increase (decrease) in other liabilities (67 ) 130 (272 ) Total – operating activities 50,981 7,137 70,091 Investing Activities: Downstream cash investment to subsidiary (9,000 ) — — Note receivable proceeds received 3,054 Proceeds from sales of investments 174 — — Net cash paid in acquisitions (37,664 ) — — Total - investing activities (43,436 ) — — Financing Activities: Payment of preferred and common cash dividends (7,596 ) (6,632 ) (7,105 ) Redemption of preferred stock — — (63,500 ) Proceeds from issuance of common stock 287 375 112 Stock withheld for payment of taxes (231 ) (166 ) (54 ) Total - financing activities (7,540 ) (6,423 ) (70,547 ) Net increase (decrease) in cash 5 714 (456 ) Cash, beginning of year 4,530 3,816 4,272 Cash, end of year $ 4,535 4,530 3,816

Summary of Significant Accoun48

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other investments		$ 5,300	$ 3,100
Reclassification of accumulated other comprehensive income due to statutory tax changes	$ 700
Minimum [Member]
Useful life		2 years
Maximum [Member]
Useful life		40 years
Employee Stock Option [Member]
Number of anti-dilutive securities			5,000	50,000

Summary of Significant Accoun49

Summary of Significant Accounting Policies (Schedule of Basic and Diluted Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Basic EPS
Net income available to common shareholders	$ 45,972	$ 27,334	$ 26,431
Shares (denominator)	25,210,606	19,964,727	19,767,470
Basic EPS	$ 1.82	$ 1.37	$ 1.34
Effect of Dilutive Securities Income (numerator)		$ 175	$ 233
Effect of Dilutive Securities Shares (denominator)	80,776	768,190	732,257
Diluted EPS per common share
Income (numerator)	$ 45,972	$ 27,509	$ 26,664
Shares (denominator)	25,291,382	20,732,917	20,499,727
Diluted EPS per common share	$ 1.82	$ 1.33	$ 1.30

Summary of Significant Accoun50

Summary of Significant Accounting Policies (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
The components of accumulated other comprehensive income (loss):
Unrealized gain (loss) on securities available for sale	$ (2,211)	$ (3,085)	$ (1,163)
Deferred tax asset (liability)	517	1,138	454
Net unrealized gain (loss) on securities available for sale	(1,694)	(1,947)	(709)
Additional pension asset (liability)	(3,200)	(5,012)	(4,657)
Deferred tax asset (liability)	748	1,852	1,816
Net additional pension asset (liability)	(2,452)	(3,160)	(2,841)
Total accumulated other comprehensive income (loss)	$ (4,146)	$ (5,107)	$ (3,550)

Summary of Significant Accoun51

Summary of Significant Accounting Policies (Schedule of Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Unrealized Gain (Loss) on Securities Available for Sale
Beginning balance	$ (1,947)	$ (709)
Other comprehensive income (loss) before reclassifications	405	(1,236)
Amounts reclassified from accumulated other comprehensive income	148	(2)
Net current-period other comprehensive income (loss)	553	(1,238)
Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes	(300)
Ending balance	(1,694)	(1,947)	$ (709)
Additional Pension Asset (Liability)
Beginning balance	3,160	2,841
Other comprehensive income (loss) before reclassifications	1,008	(442)
Amounts reclassified from accumulated other comprehensive income	136	123
Net current-period other comprehensive income (loss)	1,144	(319)
Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes	(436)
Ending balance	2,452	3,160	2,841
Total
Beginning balance	(5,107)	(3,550)
Other comprehensive income (loss) before reclassifications	1,413	(1,678)
Amounts reclassified from accumulated other comprehensive income	284	121
Net current-period other comprehensive income (loss)	1,697	(1,557)	(2,972)
Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes	(736)
Ending balance	$ (4,146)	$ (5,107)	$ (3,550)

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ / shares in Units, $ in Thousands	Oct. 01, 2017USD ($)$ / sharesshares	Sep. 01, 2017USD ($)shares	Mar. 03, 2017USD ($)$ / sharesshares	Mar. 03, 2017USD ($)$ / shares	Jul. 15, 2016USD ($)	May 05, 2016USD ($)shares	Jan. 02, 2016USD ($)shares	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Shares issued pursuant to acquisition									$ 284,192	$ 5,509
Goodwill									233,070	75,042
Loans sold									77,034	20,021
Premises and equipment sold									151	2,025	$ 1,621
Core deposit intangible	$ 9,760		$ 8,790	$ 8,790	$ 1,170
Total assets									5,547,037	3,614,862
Total deposits									4,406,955	2,947,353
Total loans									4,042,369	$ 2,710,712
Asheville Savings Bank [Member]
Business Acquisition [Line Items]
Payments for acquisition	$ 17,900
Shares issued pursuant to acquisition, shares | shares	4,920,061
Shares issued pursuant to acquisition	$ 169,300
Goodwill	88,400
Premises and equipment	10,697
Other liabilities	8,943
Core deposit intangible
Payments for acquisition per share | $ / shares	$ 41.90
Merger share conversion ratio	1.44
Contribution of cash in total consideration	10.00%
Contribution of stock in total consideration	90.00%
Closing stock price | $ / shares	$ 34.41
Asheville Savings Bank [Member] | Post Merger [Member]
Business Acquisition [Line Items]
Merger Related Expenses									2,700
Asheville Savings Bank [Member] | Pre Merger [Member]
Business Acquisition [Line Items]
Merger Related Expenses									20,400
Asheville Savings Bank [Member] | Deposit Liabilities [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible assets	5 years
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			$ 114,500
Goodwill			65,516	65,516
Premises and equipment			17,967	17,967
Other liabilities			12,855	12,855
Core deposit intangible
Payments for acquisition per share | $ / shares			$ 20	$ 20
Merger share conversion ratio			1.002
Contribution of cash in total consideration			25.00%	25.00%
Contribution of stock in total consideration			75.00%	75.00%
Closing stock price | $ / shares			$ 30.13	$ 30.13
Carolina Bank [Member] | Post Merger [Member]
Business Acquisition [Line Items]
Merger Related Expenses									5,200
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
Bear Insurance [Member]
Business Acquisition [Line Items]
Total purchase price		$ 9,800
Payments for acquisition		$ 7,900
Shares issued pursuant to acquisition, shares | shares		13,374
Shares issued pursuant to acquisition		$ 400
Goodwill		5,300
Other amortizable intangible assets		3,900
Annual commission income		4,000
Earn-out liability		$ 1,200

Acquisitions (Condensed Balance

Acquisitions (Condensed Balance Sheet of Carolina Bank and Related Fair Value Adjustments) (Details) - USD ($) $ in Thousands		Oct. 01, 2017		Mar. 03, 2017		Dec. 31, 2017	Dec. 31, 2016	Jul. 15, 2016
Assets
Core deposit intangible		$ 9,760		$ 8,790				$ 1,170
Fair Value Adjustments
Value of stock issued						$ 284,192	$ 5,509
Goodwill recorded related to acquisition						$ 233,070	$ 75,042
Asheville Savings Bank [Member]
Assets
Cash and cash equivalents		41,824
Securities		95,020
Loans, gross		617,159
Allowance for loan losses		(6,685)
Presold mortgages		3,785
Premises and equipment		10,697
Core deposit intangible
Other		35,944
Total		797,744
Liabilities
Deposits		678,707
Borrowings		20,000
Other		8,943
Total		707,650
Fair Value Adjustments
Value of stock issued		169,300
Cash paid in the acquisition		17,900
Goodwill recorded related to acquisition		88,400
Fair Value Adjustments [Member]
Fair Value Adjustments
Cash and cash equivalents				(2)	[1]
Securities				(261)	[2]
Loans, gross	[3]	(9,631)		(5,469)
Write-down of purchased credit impaired loans	[4]	(1,348)		(2,715)
Allowance for loan losses	[5]	6,685		5,746
Presold mortgages
Premises and equipment	[6]	9,857		4,251
Core deposit intangible	[7]	9,760		8,790
Other	[8]	(5,851)		(4,804)
Total Assets		9,472		5,536
Deposits		430	[9]	431	[10]
Borrowings				(2,855)	[11]
Other	[12]	298		225
Total Liabilities		728		(2,199)
Value of stock issued		169,299		114,478
Cash paid in the acquisition		17,939		25,279
Total cost of acquisition		187,238		139,757
Measurement Period Adjustments [Member]
Fair Value Adjustments
Cash and cash equivalents
Securities
Loans, gross				146	[13]
Write-down of purchased credit impaired loans
Allowance for loan losses
Presold mortgages
Premises and equipment				(319)	[14]
Core deposit intangible
Other				2,225	[15]
Total Assets				2,052
Deposits
Borrowings				(262)	[16]
Other
Total Liabilities				(262)
As Recorded by First Bancorp [Member]
Assets
Cash and cash equivalents		41,824		81,464
Securities		95,020		49,368
Loans, gross		606,180		497,522
Allowance for loan losses
Presold mortgages		3,785
Premises and equipment		20,554		21,899
Core deposit intangible		9,760		8,790
Other		30,093		32,397
Total		807,216		691,440
Liabilities
Deposits		679,137		585,381
Borrowings		20,000		18,738
Other		9,241		13,080
Total		708,378		617,199
Net identifiable assets acquired		$ 98,838		74,241
Carolina Bank [Member]
Assets
Cash and cash equivalents				81,466
Securities				49,629
Loans, gross				505,560
Allowance for loan losses				(5,746)
Premises and equipment				17,967
Core deposit intangible
Other				34,976
Total				683,852
Liabilities
Deposits				584,950
Borrowings				21,855
Other				12,855
Total				619,660
Fair Value Adjustments
Value of stock issued				114,500
Cash paid in the acquisition				25,300
Goodwill recorded related to acquisition				$ 65,516
[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 Asheville Savings 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 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.
[11]	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.
[12]	This fair value adjustment represents miscellaneous adjustments needed to record assets and liabilities at their fair value.
[13]	This fair value adjustment was a miscellaneous adjustment to increase the initial fair value of gross loans.
[14]	This fair value adjustment relates to miscellaneous adjustment to decrease the initial fair value of premises and equipment.
[15]	This fair value adjustment relates to changes in the estimate of deferred tax assets/liabilities associated with the acquisition and a miscellaneous adjustment to decrease the initial fair value of foreclosed real estate acquired in the transaction.
[16]	This fair value adjustments relates to miscellaneous adjustment to decrease the initial fair value of borrowings.

Acquisitions (Summary of Profor

Acquisitions (Summary of Proforma Combined) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Net interest income	$ 168,759	$ 147,089
Noninterest income	50,098	36,684
Total revenue	218,857	183,773
Net income available to common shareholders	$ 49,907	$ 25,364
Earnings per common share
Basic	$ 1.93	$ 1.07
Diluted	$ 1.92	$ 1.03
Asheville Savings Bank [Member]
Business Acquisition [Line Items]
Net interest income	$ 183,996	$ 147,284
Noninterest income	54,523	34,307
Total revenue	238,391	181,591
Net income available to common shareholders	$ 51,600	$ 12,291
Earnings per common share
Basic	$ 1.79	$ 0.49
Diluted	$ 1.78	$ 0.48

Securities (Narrative) (Details

Securities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Securities [Abstract]
Private mortgage-backed security fair value	$ 500
Investment securities, pledged as collateral for public deposits	176,813	$ 147,009
Sales of investment securities	140,621	8
Net realized gains (losses) of investment securities	235	3	$ 1
Federal Home Loan Bank stock and Federal Reserve Bank stock, cost	31,338	19,826
Federal Home Loan Bank Stock, cost	19,647	12,588
Federal Reserve Bank, cost	$ 11,691	$ 7,238

Securities (Summary of Book Val

Securities (Summary of Book Values and Fair Values of Investment Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Securities available for sale:
Amortized Cost	$ 345,482	$ 202,414
Fair Value	343,270	199,329
Unrealized Gain	758	342
Unrealized (Losses)	(2,969)	(3,427)
Securities held to maturity:
Amortized Cost	118,503	129,713
Fair Value	118,998	130,195
Unrealized Gain	1,280	1,815
Unrealized (Losses)	(785)	(1,333)
Government-sponsored enterprise securities [Member]
Securities available for sale:
Amortized Cost	14,000	17,497
Fair Value	13,867	17,490
Unrealized Gain
Unrealized (Losses)	(133)	(7)
Mortgage-backed securities [Member]
Securities available for sale:
Amortized Cost	297,690	151,001
Fair Value	295,213	148,065
Unrealized Gain	246	155
Unrealized (Losses)	(2,722)	(3,091)
Securities held to maturity:
Amortized Cost	63,829	80,585
Fair Value	63,092	79,283
Unrealized Gain
Unrealized (Losses)	(737)	(1,302)
State and local governments [Member]
Securities held to maturity:
Amortized Cost	54,674	49,128
Fair Value	55,906	50,912
Unrealized Gain	1,280	1,815
Unrealized (Losses)	(48)	(31)
Corporate bonds [Member]
Securities available for sale:
Amortized Cost	33,792	33,833
Fair Value	34,190	33,600
Unrealized Gain	512	91
Unrealized (Losses)	(114)	(324)
Equity securities [Member]
Securities available for sale:
Amortized Cost		83
Fair Value		174
Unrealized Gain		96
Unrealized (Losses)		$ (5)

Securities (Schedule of Informa

Securities (Schedule of Information Regarding Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Securities in an Unrealized Loss Position for Less than 12 Months
Total temporarily impaired securities Fair Value	$ 214,027	$ 232,817
Total temporarily impaired securities Unrealized Losses	1,782	4,138
Securities in an Unrealized Loss Position for More than 12 Months
Total temporarily impaired securities Fair Value	128,965	19,943
Total temporarily impaired securities Unrealized Losses	1,972	622
Total temporarily impaired securities Fair Value	342,992	252,760
Total temporarily impaired securities Unrealized Losses	3,754	4,760
Government-sponsored enterprise securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	10,897	7,990
AFS Unrealized Losses	103	7
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	2,970
AFS Unrealized Losses	30
Total temporarily impaired securities Fair Value	13,867	7,990
Total temporarily impaired securities Unrealized Losses	133	7
Mortgage-backed securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	192,702	196,999
AFS Unrealized Losses	1,582	3,841
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	125,060	19,001
AFS Unrealized Losses	1,877	552
Total temporarily impaired securities Fair Value	317,762	216,000
Total temporarily impaired securities Unrealized Losses	3,459	4,393
Corporate bonds [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	2,500	27,027
AFS Unrealized Losses	49	259
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	935	935
AFS Unrealized Losses	65	65
Total temporarily impaired securities Fair Value	3,435	27,962
Total temporarily impaired securities Unrealized Losses	114	324
Equity securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value
AFS Unrealized Losses
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value		7
AFS Unrealized Losses		5
Total temporarily impaired securities Fair Value		7
Total temporarily impaired securities Unrealized Losses		5
State and local governments [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
HTM Fair Value	7,928	801
HTM Unrealized Losses	48	31
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value
AFS Unrealized Losses
Total temporarily impaired securities Fair Value	7,928	801
Total temporarily impaired securities Unrealized Losses	$ 48	$ 31

Securities (Schedule of Book Va

Securities (Schedule of Book Values and Fair Values of Investment Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Securities Available for Sale - Amortized Cost
Due within one year
Due after one year but within five years	15,007
Due after five years but within ten years	27,785
Due after ten years	5,000
Mortgage-backed securities	297,690
Total debt securities	345,482
Equity securities
Total securities	345,482	$ 202,414
Securities Available for Sale - Fair Value
Due within one year
Due after one year but within five years	14,905
Due after five years but within ten years	28,042
Due after ten years	5,110
Mortgage-backed securities	295,213
Total debt securities	343,270
Equity securities
Total securities	343,270	199,329
Securities Held to Maturity - Amortized Cost
Due within one year	2,257
Due after one year but within five years	23,285
Due after five years but within ten years	23,502
Due after ten years	5,630
Mortgage-backed securities	63,829
Total debt securities	118,503	129,713
Equity securities
Total securities	118,503
Securities Held to Maturity - Fair Value
Due within one year	2,258
Due after one year but within five years	23,795
Due after five years but within ten years	24,219
Due after ten years	5,634
Mortgage-backed securities	63,092
Total debt securities	118,998
Equity securities
Securities held to maturity	$ 118,998	$ 130,195

Loans and Asset Quality Infor59

Loans and Asset Quality Information (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Oct. 01, 2017	Mar. 03, 2017
Recorded loans with a fair value				$ 606,200	$ 497,500
Loans pledged as collateral	$ 3,600,000	$ 2,400,000
Loans to officers and directors	3,600	2,600
Additions to loans, officers and directors	600
Payments that exceeded the initial carrying amount on purchased impaired loans	1,064	1,160
Discount accretion loan interest income - purchased impaired loans paid off	962	786
Additional loan interest income - purchased impaired loans paid off	102	296
Recoveries		78
Interest income on non accrual loans	415	266	$ 575
Interest income on restructured loans	297	423	1,392
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Nonaccrual loans in process of foreclosure	800	1,700
Non Accrual Loans [Member]
Interest income forgone	1,503	1,893	3,213
Restructured Loans [Member]
Interest income forgone	1,182	1,417	$ 2,044
Purchased Impaired Loans [Member]
Recorded loans with a fair value				$ 9,900	$ 19,300
Accretion of loan discount	21,500	$ 12,100
Purchased Impaired Loans [Member] | Carolina Bank Holdings, Inc. [Member] | 90 Days or More Past Due [Member]
Recorded loans with a fair value	$ 600

Loans and Asset Quality Infor60

Loans and Asset Quality Information (Summary of the contractually required payments) (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Mar. 03, 2017
Purchased credit impaired [Member] | Carolina Bank [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 credit impaired [Member] | Asheville Savings Bank [Member]
Contractually required payments	$ 13,424
Nonaccretable difference	(1,734)
Cash flows expected to be collected at acquisition	11,690
Accretable yield	(1,804)
Fair value of PCI loans at acquisition date	9,886
Purchased Non impaired [Member] | Carolina Bank [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
Purchased Non impaired [Member] | Asheville Savings Bank [Member]
Contractually required payments	727,706
Fair value of PCI loans at acquisition date	595,167
Contractual cash flows not expected to be collected	$ 7,000

Loans and Asset Quality Infor61

Loans and Asset Quality Information (Summary of Major Categories of Total Loans Outstanding) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
All loans (non-covered and covered):
Amount of loans	$ 4,043,355	$ 2,710,761
Percentage of Loans	100.00%	100.00%
Unamortized net deferred loan costs (fees)	$ (986)	$ (49)
Total loans	4,042,369	2,710,712
Commercial, financial, and agricultural [Member]
All loans (non-covered and covered):
Amount of loans	$ 381,130	$ 261,813
Percentage of Loans	10.00%	9.00%
Real estate - construction, land development & other land loans [Member]
All loans (non-covered and covered):
Amount of loans	$ 539,020	$ 354,667
Percentage of Loans	13.00%	13.00%
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
All loans (non-covered and covered):
Amount of loans	$ 972,772	$ 750,679
Percentage of Loans	24.00%	28.00%
Real estate - mortgage - home equity loans / lines of credit [Member]
All loans (non-covered and covered):
Amount of loans	$ 379,978	$ 239,105
Percentage of Loans	9.00%	9.00%
Real estate - mortgage - commercial and other [Member]
All loans (non-covered and covered):
Amount of loans	$ 1,696,107	$ 1,049,460
Percentage of Loans	42.00%	39.00%
Installment loans to individuals [Member]
All loans (non-covered and covered):
Amount of loans	$ 74,348	$ 55,037
Percentage of Loans	2.00%	2.00%

Loans and Asset Quality Infor62

Loans and Asset Quality Information (Schedule of Covered Purchased Nonimpaired Loans) (Details) - USD ($) $ in Thousands	Sep. 22, 2016	Apr. 01, 2016	Dec. 31, 2017	Dec. 31, 2016
Covered purchased nonimpaired loans:
Carrying amount of nonimpaired covered loans at December 31, 2015			$ 101,252	$ 125,644
Principal repayments			(7,997)	(30,238)
Transfers to foreclosed real estate			(1,036)	(1,211)
Net loan recoveries			1,784	2,306
Accretion of loan discount			$ 1,908	4,751
Balance, ending, carrying value				$ 101,252
Transfers to non-covered loans due to expiration of loss-share agreement	$ (78,381)	$ (17,530)

Loans and Asset Quality Infor63

Loans and Asset Quality Information (Schedule of Applied Cost Recovery Method of Purchased Impaired Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Purchased Credit Impaired Loans (substantially all of which are covered loans)
Balance, beginning, carrying value	$ 514	$ 1,970
Change due to payments received and accretion	(6,016)	(1,386)
Change due to loan charge-offs	(12)	(70)
Transfers to foreclosed real estate	(69)
Other	(392)
Balance, ending, carrying value	23,165	514
Carolina Bank [Member]
Purchased Credit Impaired Loans (substantially all of which are covered loans)
Additions due to acquisition	19,254
Asheville Savings Bank [Member]
Purchased Credit Impaired Loans (substantially all of which are covered loans)
Additions due to acquisition	9,886
Accretable Yield for PCI loans [Member]
Purchased Credit Impaired Loans (substantially all of which are covered loans)
Balance, beginning, carrying value
Accretion	(1,846)
Reclassification from (to) nonaccretable difference	423
Other	690
Balance, ending, carrying value	4,688
Accretable Yield for PCI loans [Member] | Carolina Bank [Member]
Purchased Credit Impaired Loans (substantially all of which are covered loans)
Additions due to acquisition	3,617
Accretable Yield for PCI loans [Member] | Asheville Savings Bank [Member]
Purchased Credit Impaired Loans (substantially all of which are covered loans)
Additions due to acquisition	$ 1,804

Loans and Asset Quality Infor64

Loans and Asset Quality Information (Summary of Nonperforming Assets) (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016
Nonperforming assets:
Nonaccrual loans		$ 20,968	$ 27,468
Restructured loans - accruing		19,834	22,138
Accruing loans > 90 days past due
Total nonperforming loans		40,802	49,606
Foreclosed real estate		12,571	9,532
Total nonperforming assets		53,373	59,138
Purchased credit impaired loans not included above	[1]	$ 23,165
[1]	In the March 3, 2017 acquisition of Carolina Bank Holdings, Inc. and the October 1, 2017 acquisition of ASB Bancorp, Inc., the Company acquired $19.3 million and $9.9 million, respectively, in PCI loans in accordance with ASC 310-30 accounting guidance. These loans are excluded from nonperforming loans, including $0.6 million in PCI loans at December 31, 2017 that are contractually past due 90 days or more.

Loans and Asset Quality Infor65

Loans and Asset Quality Information (Schedule of Nonaccrual Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Company's nonaccrual loans:
Nonaccrual loans	$ 20,968	$ 27,468
Commercial, financial, and agricultural [Member]
Company's nonaccrual loans:
Nonaccrual loans	1,001	1,842
Real estate - construction, land development & other land loans
Company's nonaccrual loans:
Nonaccrual loans	1,822	2,945
Real estate residential, farmland and mutli-family [Member]
Company's nonaccrual loans:
Nonaccrual loans	12,201	16,017
Real estate home equity lines of credit [Member]
Company's nonaccrual loans:
Nonaccrual loans	2,524	2,355
Real estate - mortgage - commercial and other [Member]
Company's nonaccrual loans:
Nonaccrual loans	3,345	4,208
Non-covered loans to Individual
Company's nonaccrual loans:
Nonaccrual loans	75	101
Covered [Member]
Company's nonaccrual loans:
Nonaccrual loans	$ 20,968	$ 27,468

Loans and Asset Quality Infor66

Loans and Asset Quality Information (Schedule of Analysis of Payment Status of Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Analysis of the payment status of loans
Nonaccrual loans	$ 20,968	$ 27,468
Total loans	4,042,369	2,710,712
Unamortized net deferred loan fees	(986)	(49)
Total loans	4,042,369	2,710,712
Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,001	1,842
Real estate - construction, land development & other land loans
Analysis of the payment status of loans
Nonaccrual loans	1,822	2,945
Real estate residential, farmland and mutli-family [Member]
Analysis of the payment status of loans
Nonaccrual loans	12,201	16,017
Real estate home equity lines of credit [Member]
Analysis of the payment status of loans
Nonaccrual loans	2,524	2,355
Real estate - mortgage - commercial and other [Member]
Analysis of the payment status of loans
Nonaccrual loans	3,345	4,208
Non-covered loans to Individual
Analysis of the payment status of loans
Nonaccrual loans	75	101
All Total Loans [Member]
Analysis of the payment status of loans
Nonaccrual loans	20,968	27,468
Current	4,007,515	2,673,391
Total loans	4,043,355	2,710,761
Unamortized net deferred loan fees	(986)	(49)
Total loans	4,042,369	2,710,712
All Total Loans [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	11,903	8,471
All Total Loans [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	2,368	1,431
All Total Loans [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due	601
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,001	1,842
Current	379,241	259,879
Total loans	380,482	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	89	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	151
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
Analysis of the payment status of loans
Nonaccrual loans	1,822	2,945
Current	535,423	351,081
Total loans	538,613	354,667
All Total Loans [Member] | Real estate - construction, land development & other land loans | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	1,154	473
All Total Loans [Member] | Real estate - construction, land development & other land loans | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	214	168
All Total Loans [Member] | Real estate - construction, land development & other land loans | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due
All Total Loans [Member] | Real estate residential, farmland and mutli-family [Member]
Analysis of the payment status of loans
Nonaccrual loans	12,201	16,017
Current	943,565	729,732
Total loans	963,913	750,679
All Total Loans [Member] | Real estate residential, farmland and mutli-family [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	6,777	4,487
All Total Loans [Member] | Real estate residential, farmland and mutli-family [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	1,370	443
All Total Loans [Member] | Real estate residential, farmland and mutli-family [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 home equity lines of credit [Member]
Analysis of the payment status of loans
Nonaccrual loans	2,524	2,355
Current	375,814	234,821
Total loans	379,695	239,105
All Total Loans [Member] | Real estate home equity lines of credit [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	1,347	1,751
All Total Loans [Member] | Real estate home equity lines of credit [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	10	178
All Total Loans [Member] | Real estate home equity 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	3,345	4,208
Current	1,678,529	1,042,807
Total loans	1,683,595	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	1,270	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	451	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] | Non-covered loans to Individual
Analysis of the payment status of loans
Nonaccrual loans	75	101
Current	73,277	54,557
Total loans	73,892	55,037
All Total Loans [Member] | Non-covered loans to Individual | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	445	186
All Total Loans [Member] | Non-covered loans to Individual | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	95	193
All Total Loans [Member] | Non-covered loans to Individual | 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	21,666	514
Total loans	23,165	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	821
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	77
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	$ 601

Loans and Asset Quality Infor67

Loans and Asset Quality Information (Schedule of Activity in Allowance for Loan Losses for Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Beginning balance	$ 23,781	$ 28,583
Charge-offs	(7,811)	(10,414)
Recoveries	6,605	6,685
Transfer from covered status
Removed due to branch loan sale		(1,050)
Provisions	723	(23)	$ (780)
Ending balance	23,298	23,781	28,583
Ending balances: Allowance for loan losses
Individually evaluated for impairment	1,564	1,640
Collectively evaluated for impairment	21,461	22,141
Purchased credit impaired	273
Loans receivable:
Ending balance - total	4,043,355	2,710,761
Unamortized net deferred loan fees	(986)	(49)
Total non-covered loans	4,042,369	2,710,712
Ending balances: Loans
Individually evaluated for impairment	27,215	32,226
Collectively evaluated for impairment	3,992,975	2,678,021
Loans acquired with deteriorated credit quality	23,165	514
Covered [Member]
Beginning balance		1,799
Charge-offs		(244)
Recoveries		1,958
Transfer from covered status		(1,381)
Removed due to branch loan sale
Provisions		(2,132)
Ending balance			1,799
Ending balances: Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment
Purchased credit impaired
Loans receivable:
Ending balance - total
Ending balances: Loans
Individually evaluated for impairment
Collectively evaluated for impairment
Loans acquired with deteriorated credit quality
Commercial, financial, and agricultural [Member]
Beginning balance	3,829	4,742
Charge-offs	(1,622)	(2,271)
Recoveries	1,311	805
Transfer from covered status		56
Removed due to branch loan sale		(263)
Provisions	(407)	760
Ending balance	3,111	3,829	4,742
Ending balances: Allowance for loan losses
Individually evaluated for impairment	215	7
Collectively evaluated for impairment	2,896	3,822
Purchased credit impaired
Loans receivable:
Ending balance - total	381,130	261,813
Ending balances: Loans
Individually evaluated for impairment	579	644
Collectively evaluated for impairment	379,903	261,169
Loans acquired with deteriorated credit quality	648
Real estate - construction, land development & other land loans [Member]
Beginning balance	2,691	3,754
Charge-offs	(589)	(1,101)
Recoveries	2,579	1,422
Transfer from covered status		65
Removed due to branch loan sale		(39)
Provisions	(1,865)	(1,410)
Ending balance	2,816	2,691	3,754
Ending balances: Allowance for loan losses
Individually evaluated for impairment	18	184
Collectively evaluated for impairment	2,798	2,507
Purchased credit impaired
Loans receivable:
Ending balance - total	539,020	354,667
Ending balances: Loans
Individually evaluated for impairment	2,975	4,001
Collectively evaluated for impairment	535,638	350,666
Loans acquired with deteriorated credit quality	407
Real estate residential, farmland and mutli-family [Member]
Beginning balance	7,704	7,832
Charge-offs	(2,641)	(3,815)
Recoveries	1,076	1,060
Transfer from covered status		839
Removed due to branch loan sale		(347)
Provisions	8	2,135
Ending balance	6,147	7,704	7,832
Ending balances: Allowance for loan losses
Individually evaluated for impairment	1,099	1,339
Collectively evaluated for impairment	4,831	6,365
Purchased credit impaired	217
Loans receivable:
Ending balance - total	972,772	750,679
Ending balances: Loans
Individually evaluated for impairment	14,800	20,807
Collectively evaluated for impairment	949,113	729,872
Loans acquired with deteriorated credit quality	8,859
Real estate home equity lines of credit [Member]
Beginning balance	2,420	2,893
Charge-offs	(978)	(969)
Recoveries	333	250
Transfer from covered status		293
Removed due to branch loan sale		(110)
Provisions	52	63
Ending balance	1,827	2,420	2,893
Ending balances: Allowance for loan losses
Individually evaluated for impairment		5
Collectively evaluated for impairment	1,788	2,415
Purchased credit impaired	39
Loans receivable:
Ending balance - total	379,978	239,105
Ending balances: Loans
Individually evaluated for impairment	368	280
Collectively evaluated for impairment	379,327	238,825
Loans acquired with deteriorated credit quality	283
Real estate - mortgage - commercial and other [Member]
Beginning balance	5,098	5,816
Charge-offs	(1,182)	(1,005)
Recoveries	1,027	836
Transfer from covered status		127
Removed due to branch loan sale		(228)
Provisions	1,532	(448)
Ending balance	6,475	5,098	5,816
Ending balances: Allowance for loan losses
Individually evaluated for impairment	232	105
Collectively evaluated for impairment	6,226	4,993
Purchased credit impaired	17
Loans receivable:
Ending balance - total	1,696,107	1,049,460
Ending balances: Loans
Individually evaluated for impairment	8,493	6,494
Collectively evaluated for impairment	1,675,102	1,042,452
Loans acquired with deteriorated credit quality	12,512	514
Non-covered loans to Individual
Beginning balance	1,145	1,051
Charge-offs	(799)	(1,008)
Recoveries	279	354
Transfer from covered status
Removed due to branch loan sale		(63)
Provisions	325	811
Ending balance	950	1,145	1,051
Ending balances: Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	950	1,145
Purchased credit impaired
Loans receivable:
Ending balance - total	74,348	55,037
Ending balances: Loans
Individually evaluated for impairment
Collectively evaluated for impairment	73,892	55,037
Loans acquired with deteriorated credit quality	456
Unallocated [Member]
Beginning balance	894	696
Charge-offs		(1)
Recoveries
Transfer from covered status		1
Removed due to branch loan sale
Provisions	1,078	198
Ending balance	1,972	894	$ 696
Ending balances: Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	1,972	894
Purchased credit impaired
Loans receivable:
Ending balance - total
Ending balances: Loans
Individually evaluated for impairment
Collectively evaluated for impairment
Loans acquired with deteriorated credit quality

Loans and Asset Quality Infor68

Loans and Asset Quality Information (Schedule of Impaired Loans) (Details) - All Total Loans [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Impaired loans
Impaired loans with no related allowance - Recorded Investment	$ 11,565	$ 18,561
Impaired loans with no related allowance - Unpaid Principal Balance	13,802	22,744
Impaired loans with no related allowance - Average Recorded Investment	13,461	23,770
Impaired loans with allowance - Recorded Investment	15,650	13,665
Impaired loans with allowance - Unpaid Principal Balance	15,893	13,951
Impaired loans with related allowance - Related Allowance	1,564	1,640
Impaired loans with related allowance - Average Recorded Investment	16,229	19,645
Commercial, financial, and agricultural [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	183	593
Impaired loans with no related allowance - Unpaid Principal Balance	425	706
Impaired loans with no related allowance - Average Recorded Investment	276	816
Impaired loans with allowance - Recorded Investment	396	51
Impaired loans with allowance - Unpaid Principal Balance	396	51
Impaired loans with related allowance - Related Allowance	215	7
Impaired loans with related allowance - Average Recorded Investment	214	202
Real estate - construction, land development & other land loans [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	2,743	3,221
Impaired loans with no related allowance - Unpaid Principal Balance	3,941	4,558
Impaired loans with no related allowance - Average Recorded Investment	2,846	3,641
Impaired loans with allowance - Recorded Investment	232	780
Impaired loans with allowance - Unpaid Principal Balance	241	798
Impaired loans with related allowance - Related Allowance	18	184
Impaired loans with related allowance - Average Recorded Investment	503	844
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	5,205	10,035
Impaired loans with no related allowance - Unpaid Principal Balance	5,728	12,220
Impaired loans with no related allowance - Average Recorded Investment	7,067	11,008
Impaired loans with allowance - Recorded Investment	9,595	10,772
Impaired loans with allowance - Unpaid Principal Balance	9,829	11,007
Impaired loans with related allowance - Related Allowance	1,099	1,339
Impaired loans with related allowance - Average Recorded Investment	10,077	13,314
Real estate - mortgage - home equity loans / lines of credit [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	368	114
Impaired loans with no related allowance - Unpaid Principal Balance	387	146
Impaired loans with no related allowance - Average Recorded Investment	129	139
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	66	324
Real estate - mortgage - commercial and other [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	3,066	4,598
Impaired loans with no related allowance - Unpaid Principal Balance	3,321	5,112
Impaired loans with no related allowance - Average Recorded Investment	3,143	8,165
Impaired loans with allowance - Recorded Investment	5,427	1,896
Impaired loans with allowance - Unpaid Principal Balance	5,427	1,929
Impaired loans with related allowance - Related Allowance	232	105
Impaired loans with related allowance - Average Recorded Investment	5,369	4,912
Installment loans to individuals [Member]
Impaired loans
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
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 Infor69

Loans and Asset Quality Information (Schedule of Recorded Investment in Loans by Credit Quality Indicators) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2016
Recorded investment in loans by credit quality indicators:
Total	$ 4,043,355	$ 2,710,761
Unamortized net deferred loan costs	(986)	(49)
Total loans	4,042,369	2,710,712
Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	3,891,038	2,547,664
Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	72,915	64,558
Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	58,434	71,071
Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	20,968	27,468
Commercial, financial, and agricultural [Member]
Recorded investment in loans by credit quality indicators:
Total	380,482	261,813
Commercial, financial, and agricultural [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	368,658	247,451
Commercial, financial, and agricultural [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	9,901	10,560
Commercial, financial, and agricultural [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	922	1,960
Commercial, financial, and agricultural [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	1,001	1,842
Real estate - construction, land development & other land loans
Recorded investment in loans by credit quality indicators:
Total	538,613	354,667
Real estate - construction, land development & other land loans | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	523,642	335,068
Real estate - construction, land development & other land loans | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	7,129	8,762
Real estate - construction, land development & other land loans | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	6,020	7,892
Real estate - construction, land development & other land loans | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	1,822	2,945
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Recorded investment in loans by credit quality indicators:
Total	963,913	750,679
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	905,111	678,878
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	16,235	16,998
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	30,366	38,786
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	12,201	16,017
Real estate home equity lines of credit [Member]
Recorded investment in loans by credit quality indicators:
Total	379,695	239,105
Real estate home equity lines of credit [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	365,982	226,159
Real estate home equity lines of credit [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	3,784	1,436
Real estate home equity lines of credit [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	7,405	9,155
Real estate home equity lines of credit [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	2,524	2,355
Real estate - mortgage - commercial and other [Member]
Recorded investment in loans by credit quality indicators:
Total	1,683,595	1,048,946
Real estate - mortgage - commercial and other [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	1,647,725	1,005,687
Real estate - mortgage - commercial and other [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	23,355	26,032
Real estate - mortgage - commercial and other [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	9,190	13,019
Real estate - mortgage - commercial and other [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	3,345	4,208
Installment loans to individuals [Member]
Recorded investment in loans by credit quality indicators:
Total	73,892	55,037
Installment loans to individuals [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	73,379	54,421
Installment loans to individuals [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	222	256
Installment loans to individuals [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	216	259
Installment loans to individuals [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	75	101
Purchased credit impaired [Member]
Recorded investment in loans by credit quality indicators:
Total	23,165	514
Purchased credit impaired [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	6,541
Purchased credit impaired [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	12,309	514
Purchased credit impaired [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	4,315
Purchased credit impaired [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total

Loans and Asset Quality Infor70

Loans and Asset Quality Information (Schedule of Information of Loans Modified in Troubled Debt Restructuring) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)N	Dec. 31, 2016USD ($)N
All Total Loans [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs | N	8	3
TDRs arising during period Pre-Modification	$ 3,835	$ 1,824
TDRs arising during period Post-Modification	$ 3,797	$ 1,881
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing | N		1
TDRs arising during period - Accruing Pre-Modification		$ 1,071
TDRs arising during period - Accruing Post-Modification		$ 1,071
Number of contracts, TDRs Nonaccrual | N	1
TDRs arising during period - Nonaccrual Pre-Modification	$ 38
TDRs arising during period - Nonaccrual Post-Modification	$ 25
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 | N
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual | N	1
TDRs arising during period - Nonaccrual Pre-Modification	$ 32
TDRs arising during period - Nonaccrual Post-Modification	$ 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 | N		1
TDRs arising during period - Accruing Pre-Modification		$ 598
TDRs arising during period - Accruing Post-Modification		$ 626
Number of contracts, TDRs Nonaccrual | N	1	1
TDRs arising during period - Nonaccrual Pre-Modification	$ 215	$ 155
TDRs arising during period - Nonaccrual Post-Modification	$ 215	$ 184
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 | N
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual | N
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
All Total Loans [Member] | Real estate - mortgage - commercial and other [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing | N	5
TDRs arising during period - Accruing Pre-Modification	$ 3,550
TDRs arising during period - Accruing Post-Modification	$ 3,525
Number of contracts, TDRs Nonaccrual | N
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
All Total Loans [Member] | Installment loans to individuals [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing | N
TDRs arising during period - Accruing Pre-Modification
TDRs arising during period - Accruing Post-Modification
Number of contracts, TDRs Nonaccrual | N
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
Covered [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs | N
TDRs arising during period Pre-Modification
TDRs arising during period Post-Modification

Loans and Asset Quality Infor71

Loans and Asset Quality Information (Schedule of Accruing Restructured Loans Defaulted in Period) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)N	Dec. 31, 2016USD ($)N
All Total Loans [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default | N	2	3
Subsequently defaulted - Recorded Investment | $	$ 880	$ 765
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default | N		2
Subsequently defaulted - Recorded Investment | $		$ 744
All Total Loans [Member] | Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default | N	2
Subsequently defaulted - Recorded Investment | $	$ 880
All Total Loans [Member] | Real estate - mortgage - commercial and other [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default | N		1
Subsequently defaulted - Recorded Investment | $		$ 21
Covered [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default | N		1
Subsequently defaulted - Recorded Investment | $		$ 44

Premises and Equipment (Schedul

Premises and Equipment (Schedule of Premises and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Premises and equipment, gross	$ 169,099	$ 130,408
Less accumulated depreciation and amortization	(52,866)	(55,057)
Net book value of premises and equipment	116,233	75,351
Land [Member]
Premises and equipment, gross	38,821	23,404
Buildings [Member]
Premises and equipment, gross	92,337	67,032
Furniture and Equipment [Member]
Premises and equipment, gross	35,532	37,780
Leasehold Improvements [Member]
Premises and equipment, gross	$ 2,409	$ 2,192

FDIC Indemnification Asset (Rol

FDIC Indemnification Asset (Rollforward of the FDIC Indemnification Asset) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Rollforward of the FDIC indemnification asset
FDIC indemnification asset, beginning	$ 8,439	$ 22,569
Increase (decrease) related to unfavorable (favorable) changes in loss estimates	(2,246)	(3,031)
Increase related to reimbursable expenses	205	1,232
Cash paid (received)	1,554	(6,673)
Decrease related to accretion of loan discount	(2,005)	(5,584)
Decrease related to settlement of disputed claims		(406)
Other	(236)	332
Write off of asset balance upon termination of FDIC loss share agreements effective September 22, 2016	(5,711)
FDIC indemnification asset, ending		$ 8,439

Goodwill and Other Intangible74

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Sep. 01, 2017	Mar. 03, 2017	Jul. 15, 2016	May 05, 2016	Jan. 02, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Amortization expense of intangible assets							$ 4,240	$ 1,211	$ 722
Goodwill acquired		$ 5,330			$ 4,333	$ 1,693
Other amortizable intangible assets		271			940	92
Net increase in goodwill	$ 88,400		$ 65,516	$ 1,961
Intangible asset	$ 9,760		$ 8,790	$ 1,170
Additional amortization expense of servicing assets							207
Servicing assets							$ 1,779	$ 415
Customer Lists [Member]
Intangible assets acquired		$ 3,644			$ 1,100	$ 591

Goodwill and Other Intangible75

Goodwill and Other Intangible Assets (Summary of the Gross Carrying Amount and Accumulated Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Amortizable intangible assets:
Gross Carrying Amount	$ 37,790	$ 13,546
Accumulated Amortization	13,353	9,113
Unamortizable intangible assets:
Goodwill	233,070	75,042
Customer Lists [Member]
Amortizable intangible assets:
Gross Carrying Amount	6,013	2,369
Accumulated Amortization	1,090	746
Core Deposit Intangible [Member]
Amortizable intangible assets:
Gross Carrying Amount	28,280	9,730
Accumulated Amortization	11,475	8,143
SBA servicing asset [Member]
Amortizable intangible assets:
Gross Carrying Amount	2,194	415
Accumulated Amortization	207
Other Intangible Assets [Member]
Amortizable intangible assets:
Gross Carrying Amount	1,303	1,032
Accumulated Amortization	$ 581	$ 224

Goodwill and Other Intangible76

Goodwill and Other Intangible Assets (Schedule of the Estimated Amortization Expense) (Details) $ in Thousands	Dec. 31, 2017USD ($)
The estimated amortization expense for five succeeding years:
2,018	$ 5,917
2,019	4,858
2,020	3,841
2,021	2,927
2,022	2,022
Thereafter	2,885
Total	$ 22,450

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred income tax - unrealized gains (losses) on available for sale securities		$ 321	$ (685)
Deferred income tax - pension adjustments		668	(36)
Change in net deffered tax asset		4,146
Pre-1988 tax bad debt reserve		$ 6,869	6,869
State income tax rate effective (as a percent)		3.00%
Increase decrease in deferred income tax expense		$ 8,485	118
Reduce the corporate tax rate		21.00%
Prior maximum effective rate		35.00%
Tax benefit	$ 1,300	$ 21,767	$ 14,624	$ 14,126
Minimum [Member]
Tax benefit	1,000
Maximum [Member]
Tax benefit	$ 1,500

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income Tax Allocation) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Allocated to net income	$ 1,300	$ 21,767	$ 14,624	$ 14,126
Allocated to stockholders' equity, for unrealized holding gain/loss on		321	(685)	(184)
Allocated to stockholders' equity, for tax benefit of pension liabilities		668	(36)	(1,716)
Total income taxes		$ 22,756	$ 13,903	$ 12,226

Income Taxes (Schedule of Compo

Income Taxes (Schedule of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Current - Federal		$ 11,286	$ 12,827	$ 9,149
- State		1,996	1,679	1,436
Deferred - Federal		7,742	16	3,205
- State		743	102	336
Income tax expense (benefit)	$ 1,300	$ 21,767	$ 14,624	$ 14,126

Income Taxes (Scheule of Deferr

Income Taxes (Scheule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Allowance for loan losses	$ 5,448	$ 8,758
Excess book over tax pension plan cost		290
Deferred compensation	1,220	36
Federal & state net operating loss carryforwards	2,125	868
Accruals, book versus tax	2,546	2,287
Pension liability adjustments	748	1,852
Foreclosed real estate	740	610
Basis differences in assets acquired in FDIC transactions	1,311	2,539
Nonqualified stock options	248	545
Partnership investments	232	160
Unrealized gain on securities available for sale	517	1,138
SBA servicing asset	139
All other	42	191
Gross deferred tax assets	15,316	19,274
Less: Valuation allowance	(44)	(43)
Net deferred tax assets	15,272	19,231
Deferred tax liabilities:
Loan fees	(1,880)	(1,548)
Excess book over tax pension plan cost	(95)
Depreciable basis of fixed assets	(3,122)	(954)
Amortizable basis of intangible assets	(7,915)	(12,156)
FHLB stock dividends	(658)	(409)
Trust preferred securities	(616)
Purchase accounting adjustments	(2,133)
All other	(28)	(12)
Gross deferred tax liabilities	(16,447)	(15,079)
Net deferred tax asset (liability) - included in other assets	$ (1,175)	$ 4,152

Income Taxes (Schedule of Effec

Income Taxes (Schedule of Effective Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Tax provision at statutory rate		$ 23,709	$ 14,746	$ 14,405
Increase (decrease) in income taxes resulting from:
Tax-exempt interest income		(1,461)	(1,202)	(930)
Low income housing tax credits		(596)	(192)	(191)
Non-deductible interest expense		24	16	11
State income taxes, net of federal benefit		1,780	1,158	1,152
Change in valuation allowance		(1)	(24)	(58)
Impact of tax reform		(1,269)
Other, net		(419)	122	(263)
Income tax expense (benefit)	$ 1,300	$ 21,767	$ 14,624	$ 14,126

Time Deposits and Related Par82

Time Deposits and Related Party Deposits (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Time Deposits and Related Party Deposits [Abstract]
Deposits received from officers and directors	$ 3,829	$ 3,030
Time deposits of $250,000 or more	405,100	276,400
FDIC insurance limit for insured deposits	250	250
Brokered deposits	$ 234,000	$ 133,400

Time Deposits and Related Par83

Time Deposits and Related Party Deposits (Schedule of Maturities of Time Deposits) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Time Deposits and Related Party Deposits [Abstract]
2,018	$ 638,942
2,019	146,363
2,020	45,725
2,021	27,710
2,022	23,689
Thereafter	4,306
Total time deposits	$ 886,735

Borrowings and Borrowings Ava84

Borrowings and Borrowings Availability (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Borrowings	$ 407,543	$ 271,394
First Bancorp Capital Trust II [Member]
Borrowings	10,300	10,300
First Bancorp Capital Trust III [Member]
Borrowings	10,300	10,300
First Bank Corp Capital Trust IV [Member]
Borrowings	25,800	25,800
Carolina Capital Trust [Member]
Borrowings	10,300	10,300
FHLB Line of Credit [Member]
Line of credit, borrowing capacity	936,000
Line of credit, outstanding	354,000	225,000
Line of credit, amount reduced	198,000	$ 193,000
Line of credit, amount unused	384,000
FRB Line of Credit [Member]
Line of credit, borrowing capacity	109,000
Federal Funds Line of Credit [Member]
Line of credit, borrowing capacity	$ 35,000

Borrowings and Borrowings Ava85

Borrowings and Borrowings Availability (Schedule of debt) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Total borrowings / weighted average rate as of December 31, 2017	$ 410,665,000
Unamortized discount on acquired borrowings	(3,122,000)
Total borrowings	$ 407,543,000	$ 271,394,000
Weighted average interest rate	1.72%	1.16%
Federal Home Loan Bank Term Note One [Member]
Maturity date	Jan. 5, 2018	Jan. 27, 2017
Total borrowings	$ 135,000,000	$ 20,000,000
Weighted average interest rate	1.36%	0.61%
Federal Home Loan Bank Term Note Two [Member]
Maturity date	Jan. 29, 2018	Jan. 30, 2017
Total borrowings	$ 68,000,000	$ 80,000,000
Weighted average interest rate	1.41%	0.63%
Federal Home Loan Bank Term Note Three [Member]
Maturity date	Apr. 18, 2018	Apr. 18, 2017
Total borrowings	$ 50,000,000	$ 50,000,000
Weighted average interest rate	1.25%	0.70%
Federal Home Loan Bank Term Note Four [Member]
Maturity date	Jun. 26, 2018	Dec. 26, 2017
Total borrowings	$ 20,000,000	$ 20,000,000
Weighted average interest rate	1.67%	1.19%
Federal Home Loan Bank Term Note Five [Member]
Maturity date	Sep. 28, 2018	Dec. 29, 2017
Total borrowings	$ 10,000,000	$ 35,000,000
Weighted average interest rate	1.52%	0.80%
Federal Home Loan Bank Term Note Six [Member]
Maturity date	Dec. 24, 2018	Dec. 24, 2018
Total borrowings	$ 20,000,000	$ 20,000,000
Weighted average interest rate	1.57%	1.57%
Trust Preferred Securities 1 [Member]
Maturity date	Jan. 23, 2034	Jan. 23, 2034
Total borrowings	$ 20,620,000	$ 20,620,000
Weighted average interest rate	4.08%	3.59%
Variable rate description	4.08% at 12/31/2017 adjustable rate 3 month LIBOR + 2.70%	3.59% at 12/31/16 adjustable rate 3 month LIBOR + 2.70%
Trust Preferred Securities 2 [Member]
Maturity date	Jun. 15, 2036	Jun. 15, 2036
Total borrowings	$ 25,774,000	$ 25,774,000
Weighted average interest rate	2.98%	2.35%
Variable rate description	2.98% at 12/31/2017 adjustable rate 3 month LIBOR + 1.39%	2.35% at 12/31/16 adjustable rate 3 month LIBOR + 1.39%
Federal Home Loan Bank Term Note Seven [Member]
Maturity date	May 29, 2020
Total borrowings	$ 40,000,000
Weighted average interest rate	1.62%
Federal Home Loan Bank Principal Reducing Credit One [Member]
Maturity date	Jul. 24, 2023
Total borrowings	$ 250,000
Weighted average interest rate	1.00%
Federal Home Loan Bank Principal Reducing Credit Two [Member]
Maturity date	Dec. 22, 2023
Total borrowings	$ 1,100,000
Weighted average interest rate	1.25%
Federal Home Loan Bank Principal Reducing Credit Three [Member]
Maturity date	Jan. 15, 2026
Total borrowings	$ 8,500,000
Weighted average interest rate	1.98%
Federal Home Loan Bank Principal Reducing Credit Four [Member]
Maturity date	Jun. 26, 2028
Total borrowings	$ 264,000
Weighted average interest rate	0.25%
Federal Home Loan Bank Principal Reducing Credit Five [Member]
Maturity date	Jul. 17, 2028
Total borrowings	$ 66,000
Weighted average interest rate	0.00%
Federal Home Loan Bank Principal Reducing Credit Six [Member]
Maturity date	Aug. 18, 2028
Total borrowings	$ 195,000
Weighted average interest rate	1.00%
Federal Home Loan Bank Principal Reducing Credit Seven [Member]
Maturity date	Aug. 22, 2028
Total borrowings	$ 195,000
Weighted average interest rate	1.00%
Federal Home Loan Bank Principal Reducing Credit Eight [Member]
Maturity date	Dec. 20, 2028
Total borrowings	$ 391,000
Weighted average interest rate	1.50%
Trust Preferred Securities 3 [Member]
Maturity date	Jan. 7, 2035
Total borrowings	$ 10,310,000
Weighted average interest rate	3.36%
Variable rate description	3.36% at 12/31/2017 adjustable rate 3 month LIBOR + 2.00%

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Leases [Abstract]
Rent expense	$ 2.3	$ 1.5	$ 1.2

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Lease Payments, Operating Lease) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Year ending December 31:
2,018	$ 1,692
2,019	1,524
2,020	1,182
2,021	975
2,022	767
Thereafter	4,390
Total	$ 10,530

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 02, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
401(k) Plan [Member]
Deferral rate		5.00%
Percent of annual salary employees may contribute		15.00%
Percent matched by company up to 3 percent of employee salary		100.00%
Percent matched by company 3-5 percent of employee salary		50.00%
Matching contributions		$ 2,300	$ 1,600	$ 1,400
401(k) Plan [Member] | Subsequent Event [Member]
Percent matched by company up to 6 percent of employee salary	100.00%
Pension Plan [Member]
Accumulated benefit obligation		$ 38,150	$ 36,840	36,164
Expected average annual rate of return, minimum		7.00%	7.00%
Expected average annual rate of return, maximum		10.00%	10.00%
Pension Plan [Member] | Fixed Income [Member]
Pension plans allocated assets (percentage)		25.00%	25.00%
Pension Plan [Member] | Equity Securities1 [Member]
Pension plans allocated assets (percentage)		75.00%	75.00%
SERP [Member]
Accumulated benefit obligation		$ 5,970	$ 5,910	$ 5,778

Employee Benefit Plans (Schedul

Employee Benefit Plans (Schedule of Reconciliation of Benefit Obligation) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Change in benefit obligation
Benefit obligation at beginning of year	$ 36,840	$ 36,164	$ 35,615
Service cost
Interest cost	1,449	1,502	1,364
Actuarial (gain) loss	1,941	1,288	1,236
Benefits paid	(2,080)	(2,114)	(2,051)
Benefit obligation at end of year	38,150	36,840	36,164
Change in plan assets
Plan assets at beginning of year	36,950	35,489	37,282
Actual return on plan assets	6,436	3,575	258
Employer contributions
Benefits paid	(2,080)	(2,114)	(2,051)
Plan assets at end of year	41,306	36,950	35,489
Funded status at end of year	$ 3,156	$ 110	$ (675)

Employee Benefit Plans (Sched90

Employee Benefit Plans (Schedule of Amounts Recognized in Balance Sheet) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other assets	$ 3,156	$ 110
Other liabilities
Total	$ 3,156	$ 110

Employee Benefit Plans (Sched91

Employee Benefit Plans (Schedule of Amounts Recognized in Other Comprehensive Income) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net gain (loss)	$ (3,925)	$ (5,856)
Prior service cost
Amount recognized in AOCI before tax effect	(3,925)	(5,856)
Tax (expense) benefit	1,452	2,164
Net amount recognized as increase (decrease) to AOCI	$ (2,473)	$ (3,692)	$ (3,466)

Employee Benefit Plans (Sched92

Employee Benefit Plans (Schedule of Reconciliation of Balances in AOCI) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net gain (loss) arising during period	$ 1,601	$ (557)	$ (4,321)
Pension Plan [Member]
Accumulated other comprehensive loss at beginning of fiscal year	(3,692)	(3,466)
Net gain (loss) arising during period	1,686	(412)
Amortization of unrecognized actuarial loss	244	238
Tax (expense) benefit of changes during the year, net	(711)	(52)
Accumulated other comprehensive gain (loss) at end fiscal year	(2,473)	(3,692)	$ (3,466)
Reclassification from AOCI to Retained Earnings due to statutory tax changes	(436)
Accumulated other comprehensive gain (loss) at end of fiscal year	$ (2,909)	$ (3,692)

Employee Benefit Plans (Sched93

Employee Benefit Plans (Schedule of Reconciliation of Prepaid Pension Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Pension Plan [Member]
Prepaid pension cost (liability) as of beginning of fiscal year	$ 5,965	$ 5,007
Net periodic pension cost for fiscal year	1,117	958	$ 1,483
Actual employer contributions
Benefits paid	(2,080)	(2,114)	(2,051)
Prepaid pension cost (liability) as of end of fiscal year	7,082	5,965	5,007
SERP [Member]
Prepaid pension cost (liability) as of beginning of fiscal year	(6,754)	(6,802)
Net periodic pension cost for fiscal year	(311)	(309)	(328)
Benefits paid	(370)	(357)
Prepaid pension cost (liability) as of end of fiscal year	$ (6,695)	$ (6,754)	$ (6,802)

Employee Benefit Plans (Sched94

Employee Benefit Plans (Schedule of Net Pension Costs) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Service cost - benefits earned during the period
Interest cost on projected benefit obligation	1,449	1,502	1,364
Expected return on plan assets	(2,810)	(2,698)	(2,847)
Net amortization and deferral	244	238
Net periodic pension (income) cost	$ (1,117)	$ (958)	$ (1,483)

Employee Benefit Plans (Sched95

Employee Benefit Plans (Schedule of Expected Benefit Payments) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Pension Plan [Member]
Year ending December 31, 2018	$ 1,539
Year ending December 31, 2019	1,711
Year ending December 31, 2020	1,764
Year ending December 31, 2021	1,867
Year ending December 31, 2022	1,910
Years ending December 31, 2023-2027	10,039
SERP [Member]
Year ending December 31, 2018	414
Year ending December 31, 2019	411
Year ending December 31, 2020	408
Year ending December 31, 2021	420
Year ending December 31, 2022	415
Years ending December 31, 2023-2027	$ 2,041

Employee Benefit Plans (Sched96

Employee Benefit Plans (Schedule of Fair Value of Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets		$ 27,360
Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets	41,306	9,590
Significant Other Observable Inputs (Level 3) [Member]
Fair value of plan assets
Fair Value Total [Member]
Fair value of plan assets	41,306	36,950
Fixed income investments - Money market funds [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets
Fixed income investments - Money market funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets	41,306	9,590
Fixed income investments - Money market funds [Member] | Significant Other Observable Inputs (Level 3) [Member]
Fair value of plan assets
Fixed income investments - Money market funds [Member] | Fair Value Total [Member]
Fair value of plan assets	$ 41,306	9,590
Equity investments - Large cap value fund [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets		15,595
Equity investments - Large cap value fund [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets
Equity investments - Large cap value fund [Member] | Significant Other Observable Inputs (Level 3) [Member]
Fair value of plan assets
Equity investments - Large cap value fund [Member] | Fair Value Total [Member]
Fair value of plan assets		15,595
Equity investments - Small cap growth fund [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets		2,624
Equity investments - Small cap growth fund [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets
Equity investments - Small cap growth fund [Member] | Significant Other Observable Inputs (Level 3) [Member]
Fair value of plan assets
Equity investments - Small cap growth fund [Member] | Fair Value Total [Member]
Fair value of plan assets		2,624
Equity investments - Mid cap growth fund [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets		3,220
Equity investments - Mid cap growth fund [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets
Equity investments - Mid cap growth fund [Member] | Significant Other Observable Inputs (Level 3) [Member]
Fair value of plan assets
Equity investments - Mid cap growth fund [Member] | Fair Value Total [Member]
Fair value of plan assets		3,220
Equity investments - Foreign equity fund [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets		2,669
Equity investments - Foreign equity fund [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets
Equity investments - Foreign equity fund [Member] | Significant Other Observable Inputs (Level 3) [Member]
Fair value of plan assets
Equity investments - Foreign equity fund [Member] | Fair Value Total [Member]
Fair value of plan assets		2,669
Equity investments - Company stock [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets		3,252
Equity investments - Company stock [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets
Equity investments - Company stock [Member] | Significant Other Observable Inputs (Level 3) [Member]
Fair value of plan assets
Equity investments - Company stock [Member] | Fair Value Total [Member]
Fair value of plan assets		$ 3,252

Employee Benefit Plans (Sched97

Employee Benefit Plans (Schedule of Reconciliation of Benefit Obligation - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Change in benefit obligation
Benefit obligation at beginning of year	$ 5,910	$ 5,778	$ 5,216
Service cost	118	106	201
Interest cost	227	238	206
Actuarial (gain) loss	85	145	497
Benefits paid	(370)	(357)	(342)
Benefit obligation at end of year	5,970	5,910	5,778
Plan assets at end of year
Funded status at end of year	$ (5,970)	$ (5,910)	$ (5,778)

Employee Benefit Plans (Sched98

Employee Benefit Plans (Schedule of Amounts Recognized in Balance Sheet - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other assets - prepaid pension asset (liability)	$ (6,695)	$ (6,754)
Other assets (liabilities)	725	844
Total	$ (5,970)	$ (5,910)

Employee Benefit Plans (Sched99

Employee Benefit Plans (Schedule of Amounts Recognized in Other Comprehensive Income - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net gain (loss)	$ 725	$ 844
Prior service cost
Amount recognized in AOCI before tax effect	725	844
Tax (expense) benefit	(268)	(311)
Net amount recognized as increase (decrease) to AOCI	$ 457	$ 533	$ 625

Employee Benefit Plans (Sche100

Employee Benefit Plans (Schedule of Reconciliation of Balances in AOCI - SERP) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net gain (loss) arising during period	$ 1,601	$ (557)	$ (4,321)
SERP [Member]
Accumulated other comprehensive loss at beginning of fiscal year	533	625
Net gain (loss) arising during period	(85)	(145)
Prior service cost
Amortization of unrecognized actuarial loss	(34)	(35)
Amortization of prior service cost and transition obligation
Tax benefit (expense) related to changes during the year, net	43	88
Accumulated other comprehensive gain (loss) at end fiscal year	$ 457	$ 533	$ 625

Employee Benefit Plans (Sche101

Employee Benefit Plans (Schedule of Net Pension Costs - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Service cost - benefits earned during the period	$ 118	$ 106	$ 201
Interest cost on projected benefit obligation	227	238	206
Net amortization and deferral	(34)	(35)	(79)
Net periodic pension (income) cost	$ 311	$ 309	$ 328

Employee Benefit Plans (Sche102

Employee Benefit Plans (Schedule of Assumptions Used in Determining Actuarial Information) (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Pension Plan [Member]
Discount rate used to determine net periodic pension cost	3.97%	4.17%	3.82%
Discount rate used to calculate end of year liability disclosures	3.46%	3.97%	4.17%
Expected long-term rate of return on assets	7.75%	7.75%	7.75%
Rate of compensation increase
SERP [Member]
Discount rate used to determine net periodic pension cost	3.97%	4.17%	3.82%
Discount rate used to calculate end of year liability disclosures	3.46%	3.97%	4.17%
Expected long-term rate of return on assets
Rate of compensation increase

Commitments, Contingencies, 103

Commitments, Contingencies, and Concentrations of Credit Risk (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Bank Standby Letters of credit	$ 15,200	$ 12,700
Marketable securities to any one issuer or guarantor, threshold	2,000
FDIC-insured, amount	250	$ 250
Federal Home Loan Bank of Atlanta [Member]
Deposits	3,800
Federal Reserve Bank [Member]
Deposits	368,400
PCBB [Member]
Deposits	100
Bank of America [Member]
Deposits	$ 55,400

Commitments, Contingencies, 104

Commitments, Contingencies, and Concentrations of Credit Risk (Schedule of Outstanding Loan Commitments) (Details) $ in Millions	Dec. 31, 2017USD ($)
Outstanding closed-end loan commitments	$ 681
Unfunded commitments on revolving lines of credit, credit cards and home equity loans	657
Commitments, total	1,338
Fixed Rate [Member]
Outstanding closed-end loan commitments	225
Unfunded commitments on revolving lines of credit, credit cards and home equity loans	144
Commitments, total	369
Variable Rate [Member]
Outstanding closed-end loan commitments	456
Unfunded commitments on revolving lines of credit, credit cards and home equity loans	513
Commitments, total	$ 969

Commitments, Contingencies, 105

Commitments, Contingencies, and Concentrations of Credit Risk (Schedule of Maximum Credit Risk for Securities) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Fannie Mae - mortgage-backed securities [Member]
Amortized cost, Available for sale and held to maturity	$ 154,606
Fair value, Available for sale and held to maturity	153,561
Freddie Mac - mortgage-backed securities [Member]
Amortized cost, Available for sale and held to maturity	107,712
Fair value, Available for sale and held to maturity	106,722
Ginnie Mae - mortgage-backed securities [Member]
Amortized cost, Available for sale and held to maturity	63,812
Fair value, Available for sale and held to maturity	63,030
Small Business Administration securities [Member]
Amortized cost, Available for sale and held to maturity	34,821
Fair value, Available for sale and held to maturity	34,378
Federal Home Loan Bank of Atlanta - common stock [Member]
Amortized cost, Available for sale and held to maturity	19,647
Fair value, Available for sale and held to maturity	19,647
Federal Reserve Bank - Common [Stock Member]
Amortized cost, Available for sale and held to maturity	11,691
Fair value, Available for sale and held to maturity	11,691
Bank Of America Corporate Bond [Member]
Amortized cost, Available for sale and held to maturity	7,000
Fair value, Available for sale and held to maturity	7,153
Federal Home Loan Bank System - bonds [Member]
Amortized cost, Available for sale and held to maturity	6,500
Fair value, Available for sale and held to maturity	6,440
Citigroup, Inc. corporate bond [Member]
Amortized cost, Available for sale and held to maturity	6,035
Fair value, Available for sale and held to maturity	6,096
North Carolina State municipal bonds [Member]
Amortized cost, Available for sale and held to maturity	5,589
Fair value, Available for sale and held to maturity	5,608
Goldman Sachs Group Inc. corporate bond [Member]
Amortized cost, Available for sale and held to maturity	5,090
Fair value, Available for sale and held to maturity	5,132
JP Morgan Chase corporate bond [Member]
Amortized cost, Available for sale and held to maturity	5,022
Fair value, Available for sale and held to maturity	5,075
Fannie Mae - bond [Member]
Amortized cost, Available for sale and held to maturity	5,000
Fair value, Available for sale and held to maturity	4,945
Financial Institutions, Inc. corporate bond [Member]
Amortized cost, Available for sale and held to maturity	4,000
Fair value, Available for sale and held to maturity	4,175
Spartanburg, South Carolina Sanitary Sewer District municipal bond [Member]
Amortized cost, Available for sale and held to maturity	3,851
Fair value, Available for sale and held to maturity	3,982
Craven County, North Carolina municipal bond [Member]
Amortized cost, Available for sale and held to maturity	3,532
Fair value, Available for sale and held to maturity	3,623
Wells Fargo & Company corporate bond [Member]
Amortized cost, Available for sale and held to maturity	3,096
Fair value, Available for sale and held to maturity	3,124
Eagle Bancorp corporate bond [Member]
Amortized cost, Available for sale and held to maturity	2,549
Fair value, Available for sale and held to maturity	2,500
Freddie Mac - bonds [Member]
Amortized cost, Available for sale and held to maturity	2,500
Fair value, Available for sale and held to maturity	2,482
South Carolina State municipal bond [Member]
Amortized cost, Available for sale and held to maturity	2,179
Fair value, Available for sale and held to maturity	2,312
Cary, North Carolina municipal bonds [Member]
Amortized cost, Available for sale and held to maturity	2,023
Fair value, Available for sale and held to maturity	2,049
Virginia State Housing Authority municipal bond [Member]
Amortized cost, Available for sale and held to maturity	2,003
Fair value, Available for sale and held to maturity	$ 2,010

Fair Value of Financial Inst106

Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Fair Value of Financial Instruments [Abstract]
Increase (decrease) in fair value of securities available for sale	$ 639	$ 1,919
Tax benefit (expense) of increase in the fair value of securities available for sale	$ 234	$ 683

Fair Value of Financial Inst107

Fair Value of Financial Instruments (Financial instruments Measured at Fair Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Securities available for sale:
Securities available for sale	$ 343,270	$ 199,329
Recurring [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Securities available for sale:
Government-sponsored enterprise securities
Mortgage-backed securities
Corporate bonds
Equity securities
Securities available for sale
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale:
Government-sponsored enterprise securities	13,867	17,490
Mortgage-backed securities	295,213	148,065
Corporate bonds	34,190	33,600
Equity securities		174
Securities available for sale	343,270	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
Securities available for sale
Recurring [Member] | Fair Value [Member]
Securities available for sale:
Government-sponsored enterprise securities	13,867	17,490
Mortgage-backed securities	295,213	148,065
Corporate bonds	34,190	33,600
Equity securities		174
Securities available for sale	343,270	199,329
Nonrecurring [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Securities available for sale:
Impaired loans
Foreclosed real estate
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale:
Impaired loans
Foreclosed real estate
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Securities available for sale:
Impaired loans	14,086	12,284
Foreclosed real estate	12,571	9,532
Nonrecurring [Member] | Fair Value [Member]
Securities available for sale:
Impaired loans	14,086	12,284
Foreclosed real estate	$ 12,571	$ 9,532

Fair Value of Financial Inst108

Fair Value of Financial Instruments (Level 3 assets and liabilities measured at fair value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Foreclosed real estate	$ 12,571	$ 9,532
Impaired Loans [Member]
Impaired loans	$ 14,086	$ 12,284
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]
Foreclosed real estate	$ 12,571	$ 9,532
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 of Financial Inst109

Fair Value of Financial Instruments (Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	$ 114,301	$ 71,645
Securities available for sale	343,270	199,329
Securities held to maturity	118,503	129,713
Total loans, net of allowance	4,019,071	2,686,931
Accrued interest receivable	14,094	9,286
FDIC Indemnification Asset			$ 8,439	$ 22,569
Bank-owned life insurance	99,162	74,138
Accrued interest payable	1,235	539
Level in Fair Value Hierachy [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	1	1
Due from banks, interest-bearing	1	1
Securities available for sale	2	2
Securities held to maturity	2	2
Presold mortgages in process of settlement	1	1
Total loans, net of allowance	3	3
Accrued interest receivable	1	1
Bank-owned life insurance	1	1
Deposits	2	2
Borrowings	2	2
Accrued interest payable	2	2
Carrying Amount [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	114,301	71,645
Due from banks, interest-bearing	375,189	234,348
Securities available for sale	343,270	199,329
Securities held to maturity	118,503	129,713
Presold mortgages in process of settlement	12,459	2,116
Total loans, net of allowance	4,019,071	2,686,931
Accrued interest receivable	14,094	9,286
Bank-owned life insurance	99,162	74,138
Deposits	4,406,955	2,947,353
Borrowings	407,543	271,394
Accrued interest payable	1,235	539
Fair Value [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	114,301	71,645
Due from banks, interest-bearing	375,189	234,348
Securities available for sale	343,270	199,329
Securities held to maturity	118,998	130,195
Presold mortgages in process of settlement	12,459	2,116
Total loans, net of allowance	4,010,551	2,650,820
Accrued interest receivable	14,094	9,286
Bank-owned life insurance	99,162	74,138
Deposits	4,401,757	2,944,968
Borrowings	397,903	263,255
Accrued interest payable	$ 1,235	$ 539

Equity-Based Compensation Pl110

Equity-Based Compensation Plans (Narrative) (Details) - USD ($)	1 Months Ended		12 Months Ended				36 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Stock based compensation expense				$ 1,095,000	$ 714,000	$ 710,000
Stock based compensation, income tax benefit				405,000	264,000	277,000
Proceeds from stock options exercised				$ 287,000	375,000	112,000
Restricted Stock [Member] | Subsequent Event [Member]
Stock based compensation expense			$ 733,000
First Bancorp Plans [Member]
Vesting period				10 years
Exercise price range - floor				$ 14.35
Exercise prices range - ceiling				$ 16.81
Stock options outstanding				38,689			38,689
First Bancorp Plans [Member] | 2014 Equity Plan [Member]
Shares remaining available for grant				809,690			809,690
Director [Member]
Stock based compensation expense				$ 320,000
Employees Grants [Member]
Stock based compensation expense				775,000
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
Senior Executives [Member] | Restricted Stock [Member]
Total compensation expense associated with senior executives grants				758,000			$ 758,000
Stock based compensation expense				$ 282,000	220,000	93,000
Vesting period				3 years
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				$ 491,000	$ 366,000	$ 488,000	$ 2,800,000
Vesting period							3 years
Grants in period (options)							130,059

Equity-Based Compensation Pl111

Equity-Based Compensation Plans (Schedule of Outstanding Restricted Stock) (Details) - Long-Term Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of Units:
Nonvested, beginning	91,790	55,329	50,438
Granted during the period	48,322	65,255	65,618
Vested during the period	(28,275)	(28,794)	(20,117)
Forfeited or expired during the period	(8,535)		(40,610)
Nonvested, ending	103,302	91,790	55,329
Weighted-Average Grant-Date Fair Value:
Nonvested, beginning	$ 18.65	$ 17.31	$ 11.42
Granted during the period	31.05	19.40	17.28
Vested during the period	20.05	17.79	17.44
Forfeited or expired during the period	18.34		9.87
Nonvested, ending	$ 24.09	$ 18.65	$ 17.31

Equity-Based Compensation Pl112

Equity-Based Compensation Plans (Schedule of Company's Stock Options Outstanding) (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of shares:
Balance options outstanding, beginning	59,948	117,408	179,102
Granted
Exercised	(21,259)	(23,710)	(7,353)
Forfeited
Expired		(33,750)	(54,341)
Balance options outstanding, end	38,689	59,948	117,408
Exercisable, end of period	38,689
Weighted-Average Exercise Price
Balance, beginning	$ 17.18	$ 18.12	$ 18.55
Granted
Exercised	19.16	15.84	15.20
Forfeited
Expired		21.39	19.93
Outstanding	16.09	$ 17.18	$ 18.12
Exercisable	$ 16.09
Weighted- Average Contractual Term (years), outstanding	8 months 2 days
Weighted- Average Contractual Term (years), exercisable	8 months 2 days
Aggregate Intrinsic Value, exercised	$ 236,584	$ 81,894	$ 19,843
Aggregate Intrinsic Value, outstanding	743,679
Aggregate Intrinsic Value, exercisable	$ 743,679

Equity-Based Compensation Pl113

Equity-Based Compensation Plans (Schedule of Information of Stock Options Outstanding) (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Options outstanding | shares	38,689
Weighted-average remaining contractual, outstanding	8 months 12 days
Weighted-average exercise price | $ / shares	$ 16.09
Options exercisable | shares	38,689
Weighted-average exercise price | $ / shares	$ 16.09
$13.27 to $15.48 [Member]
Options outstanding | shares	9,000
Weighted-average remaining contractual, outstanding	1 year 15 days
Weighted-average exercise price | $ / shares	$ 14.35
Options exercisable | shares	9,000
Weighted-average exercise price | $ / shares	$ 14.35
$15.48 to $17.70 [Member]
Options outstanding | shares	29,689
Weighted-average remaining contractual, outstanding	4 months 24 days
Weighted-average exercise price | $ / shares	$ 16.61
Options exercisable | shares	29,689
Weighted-average exercise price | $ / shares	$ 16.61

Regulatory Restrictions (Narrat

Regulatory Restrictions (Narrative) (Details)	Dec. 31, 2017USD ($)
Regulatory Restrictions [Abstract]
Restricted investment in bank	$ 580,000,000
Average reserve balance	$ 9,924,000

Regulatory Restrictions (Schedu

Regulatory Restrictions (Schedule of Capital Ratios) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Company [Member]
Amount
Common equity Tier 1 capital ratio, actual	$ 456,826	$ 308,712
Total capital ratio, actual	532,907	377,847
Tier I capital ratio, actual	508,791	353,363
Leverage ratio, actual	508,791	353,363
Common equity Tier 1 capital ratio, fully phased-in regulatory guidelines minimum	298,406	197,968
Total capital ratio, fully phased-in regulatory guidelines minimum	447,609	296,952
Tier I capital ratio, fully phased-in regulatory guidelines minimum	362,350	240,390
Leverage ratio, for capital adequacy purposes	$ 212,536	$ 138,981
Ratio
Common equity Tier 1 capital ratio, actual	10.72%	10.92%
Total capital ratio, actual	12.50%	13.36%
Tier I capital ratio, actual	11.94%	12.49%
Leverage ratio, actual	9.58%	10.17%
Common equity Tier 1 capital ratio, fully phased-in regulatory guidelines minimum	7.00%	7.00%
Total capital ratio, for capital adequacy purposes	10.50%	10.50%
Tier I capital ratio, for capital adequacy purposes	8.50%	8.50%
Leverage ratio, for capital adequacy purposes	4.00%	4.00%
Bank [Member]
Amount
Common equity Tier 1 capital ratio, actual	$ 507,496	$ 350,578
Total capital ratio, actual	531,612	375,062
Tier I capital ratio, actual	507,496	350,578
Leverage ratio, actual	507,496	350,578
Common equity Tier 1 capital ratio, fully phased-in regulatory guidelines minimum	298,277	197,858
Total capital ratio, fully phased-in regulatory guidelines minimum	447,416	296,787
Tier I capital ratio, fully phased-in regulatory guidelines minimum	362,194	240,256
Leverage ratio, for capital adequacy purposes	212,224	138,908
Common equity Tier 1 capital ratio, to be well capitalized under prompt corrective action provisions	276,972	183,725
Total capital ratio, to be well capitalized under prompt corrective action provisions	426,111	282,654
Tier I capital ratio, to be well capitalized under prompt corrective action provisions	340,889	226,124
Leverage ratio, to be well capitalized under prompt corrective action provisions	$ 265,281	$ 173,634
Ratio
Common equity Tier 1 capital ratio, actual	11.91%	12.40%
Total capital ratio, actual	12.48%	13.27%
Tier I capital ratio, actual	11.91%	12.40%
Leverage ratio, actual	9.57%	10.10%
Common equity Tier 1 capital ratio, fully phased-in regulatory guidelines minimum	7.00%	7.00%
Total capital ratio, for capital adequacy purposes	10.50%	10.50%
Tier I capital ratio, for capital adequacy purposes	8.50%	8.50%
Leverage ratio, for capital adequacy purposes	4.00%	4.00%
Common equity Tier 1 capital ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions	6.50%	6.50%
Total capital ratio, to be well capitalized under prompt corrective action provisions	10.00%	10.00%
Tier I capital ratio, to be well capitalized under prompt corrective action provisions	8.00%	8.00%
Leverage ratio, to be well capitalized under prompt corrective action provisions	5.00%	5.00%

Supplementary Income Stateme116

Supplementary Income Statement Information (Schedule of Components of Other Noninterest Income/Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplementary Income Statement Information [Abstract]
Other service charges, commissions, and fees - debit card interchange income	$ 7,732	$ 6,564	$ 6,433
Other service charges, commissions, and fees - other interchange income	3,722	3,018	2,288
Other operating expenses - data processing expense	2,910	2,010	1,935
Other operating expenses - credit/debit card processing expense	2,797	2,296	2,181
Other operating expenses - marketing	2,549	1,999	1,674
Other operating expenses - outside consultants	2,511	1,700	1,677
Other operating expenses - telephone and data line expense	2,470	2,311	2,133
Other operating expenses - stationery and supplies	2,399	2,066	2,039
Other operating expenses - FDIC insurance expense	2,350	2,009	2,394
Other operating expenses - dues and subscriptions	1,889	1,604	1,710
Other operating expenses - repossession and collection	1,736	1,842	2,167
Other operating expenses - legal and audit	$ 1,497	$ 1,408	$ 1,689

Condensed Parent Company Inf117

Condensed Parent Company Information (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash on deposit with bank subsidiary	$ 489,490	$ 305,993	$ 267,268	$ 253,084
Premises and equipment	116,233	75,351
Other assets	64,677	42,998
Total assets	5,547,037	3,614,862
Liabilities and shareholders' equity
Trust preferred securities	407,543	271,394
Other liabilities	38,325	27,475
Total liabilities	4,854,058	3,246,761
Shareholders' equity	692,979	368,101	342,190	387,699
Total liabilities and shareholders' equity	5,547,037	3,614,862
Parent Company [Member]
Assets
Cash on deposit with bank subsidiary	4,535	4,530	$ 3,816	$ 4,272
Investment in wholly-owned subsidiaries, at equity	745,669	410,261
Premises and equipment	7	7
Other assets		1,659
Total assets	750,211	416,457
Liabilities and shareholders' equity
Trust preferred securities	53,758	46,394
Other liabilities	3,474	1,962
Total liabilities	57,232	48,356
Shareholders' equity	692,979	368,101
Total liabilities and shareholders' equity	$ 750,211	$ 416,457

Condensed Parent Company Inf118

Condensed Parent Company Information (Condensed Statements of Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Interest expense	$ (12,671)	$ (7,607)	$ (6,908)
Net income	45,972	27,509	27,034
Preferred stock dividends		(175)	(603)
Net income available to common shareholders	45,972	27,334	26,431
Parent Company [Member]
Dividends from wholly-owned subsidiaries	52,732	9,000	72,500
Earnings of wholly-owned subsidiaries, net of dividends	(4,793)	20,517	(43,328)
Interest expense	(1,867)	(1,216)	(1,032)
All other income and expenses, net	(100)	(792)	(1,106)
Net income	45,972	27,509	27,034
Preferred stock dividends		(175)	(603)
Net income available to common shareholders	$ 45,972	$ 27,334	$ 26,431

Condensed Parent Company Inf119

Condensed Parent Company Information (Condensed Statements of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Activities:
Net income	$ 45,972	$ 27,509	$ 27,034
Decrease in other assets	6,724	(724)	(5,062)
Increase (decrease) in other liabilities	(10,729)	2,868	(222)
Net cash provided by operating activities	26,838	41,271	37,350
Investing Activities:
Net cash paid in acquisitions	72,519	(53,640)
Net cash used by investing activities	(128,532)	(240,112)	(137,998)
Financing Activities:
Redemption of preferred stock			(63,500)
Stock withheld for payment of taxes	(231)	(166)	(54)
Net cash provided by financing activities	285,191	237,566	114,832
Net increase (decrease) in cash	183,497	38,725	14,184
Cash and Cash Equivalents, Beginning of Year	305,993	267,268	253,084
Cash and Cash Equivalents, End of Year	489,490	305,993	267,268
Parent Company [Member]
Operating Activities:
Net income	45,972	27,509	27,034
Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries)	4,793	(20,517)	43,328
Decrease in other assets	283	15	1
Increase (decrease) in other liabilities	(67)	130	(272)
Net cash provided by operating activities	50,981	7,137	70,091
Investing Activities:
Downstream cash investment to subsidiary	(9,000)
Note receivable proceeds received	3,054
Proceeds from sales of investments	174
Net cash paid in acquisitions	(37,664)
Net cash used by investing activities	(43,436)
Financing Activities:
Payment of preferred and common cash dividends	(7,596)	(6,632)	(7,105)
Redemption of preferred stock			(63,500)
Proceeds from issuance of common stock	287	375	112
Stock withheld for payment of taxes	(231)	(166)	(54)
Net cash provided by financing activities	(7,540)	(6,423)	(70,547)
Net increase (decrease) in cash	5	714	(456)
Cash and Cash Equivalents, Beginning of Year	4,530	3,816	4,272
Cash and Cash Equivalents, End of Year	$ 4,535	$ 4,530	$ 3,816

Preferred Stock (Narrative) (De

Preferred Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 16, 2015	Jun. 25, 2015	Dec. 21, 2012	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2012	Dec. 31, 2011
Preferred stock redeemed						$ 63,500
Preferred stock dividends					$ 175	603
Common Stock [Member]
Stock issued, shares							2,656,294
Small Business Lending Fund [Member]
Stock issued								$ 63,500
Stock issued, shares								63,500
Liquidation value of shares								$ 1,000
Threshold for qualified community banks								$ 10,000,000
Series C Preferred Stock [Member]
Stock issued, shares							728,706
Number of shares exchanged					728,706
Stock sold price per share							$ 10
Preferred stock dividends					$ 175	233
Series C Preferred Stock [Member] | Common Stock [Member]
Net proceeds from the sale of preferred and common stock			$ 33,800
Series B Preferred Stock [Member] | Small Business Lending Fund [Member]
Liquidation value of shares	$ 1,000	$ 1,000
Preferred stock redeemed	$ 31,500	$ 32,000
Preferred stock redeemed, shares	31,500	32,000
Preferred stock dividends						$ 370

Subsequent Event (Narrative) (D

Subsequent Event (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2018	Dec. 31, 2017	Dec. 31, 2016
Recoveries		$ 6,605	$ 6,685
Subsequent Event [Member]
Recoveries	$ 2,700
Total net recoveries	$ 3,300