First Bancorp (FBNC) 10-K 1 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 28, 2019	Jun. 30, 2018
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, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	Yes
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		29,723,682
Entity Public Float			$ 1,188,000,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and due from banks, noninterest-bearing	$ 56,050	$ 114,301
Due from banks, interest-bearing	406,848	375,189
Total cash and cash equivalents	462,898	489,490
Securities available for sale	501,351	343,270
Securities held to maturity (fair values of $99,906 in 2018 and $118,998 in 2017)	101,237	118,503
Presold mortgages in process of settlement	4,279	12,459
Loans	4,249,064	4,042,369
Allowance for loan losses	(21,039)	(23,298)
Net loans	4,228,025	4,019,071
Premises and equipment	119,000	116,233
Accrued interest receivable	16,004	14,094
Goodwill	234,368	233,070
Other intangible assets	21,112	24,437
Foreclosed real estate	7,440	12,571
Bank-owned life insurance	101,878	99,162
Other assets	66,524	64,677
Total assets	5,864,116	5,547,037
Liabilities
Deposits: Noninterest-bearing checking accounts	1,320,131	1,196,161
Interest-bearing checking accounts	916,374	884,254
Money market accounts	1,035,523	984,945
Savings accounts	432,389	454,860
Time deposits of $100,000 or more	690,922	593,123
Other time deposits	264,000	293,612
Total deposits	4,659,339	4,406,955
Borrowings	406,609	407,543
Accrued interest payable	1,976	1,235
Other liabilities	31,962	38,325
Total liabilities	5,099,886	4,854,058
Commitments and contingencies (see Note 13)
Shareholders' Equity
Preferred stock, no par value per share. Authorized: 5,000,000 shares Issued & outstanding: none in 2018 and 2017
Common stock, no par value per share. Authorized: 40,000,000 shares Issued & outstanding: 29,724,874 shares in 2018 and 29,639,374 shares in 2017	434,453	432,794
Retained earnings	341,738	264,331
Stock in rabbi trust assumed in acquisition	(3,235)	(3,581)
Rabbi trust obligation	3,235	3,581
Accumulated other comprehensive income (loss)	(11,961)	(4,146)
Total shareholders' equity	764,230	692,979
Total liabilities and shareholders' equity	$ 5,864,116	$ 5,547,037

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Securities held to maturity fair values	$ 99,906	$ 118,998
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	29,724,874	29,639,374
Common stock, shares outstanding	29,724,874	29,639,374
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, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest Income
Interest and fees on loans	$ 208,609	$ 163,738	$ 121,322
Interest on investment securities:
Taxable interest income	10,638	7,007	6,162
Tax-exempt interest income	1,482	1,677	1,748
Other, principally overnight investments	10,478	4,960	1,755
Total interest income	231,207	177,382	130,987
Interest Expense
Savings, checking and money market accounts	5,074	2,761	1,620
Time deposits	8,356	4,005	2,654
Other time deposits	1,061	778	896
Borrowings	9,286	5,127	2,437
Total interest expense	23,777	12,671	7,607
Net interest income	207,430	164,711	123,380
Provision (reversal) for loan losses - non-covered	(3,589)	723	2,109
Provision (reversal) for loan losses - covered			(2,132)
Total provision (reversal) for loan losses	(3,589)	723	(23)
Net interest income after provision for loan losses	211,019	163,988	123,403
Noninterest Income
Service charges on deposit accounts	12,690	11,862	10,571
Other service charges, commissions and fees	19,945	14,610	11,913
Fees from presold mortgage loans	2,735	5,695	2,033
Commissions from sales of insurance and financial products	8,731	5,300	3,790
SBA consulting fees	4,675	4,024	3,199
SBA loan sale gains	10,366	5,479	1,433
Bank-owned life insurance income	2,534	2,321	2,052
Foreclosed property losses, net	(565)	(531)	(625)
FDIC indemnification asset income (expense), net			(10,255)
Securities gains (losses), net		(235)	3
Gain on branch sale			1,466
Other gains (losses), net	723	383	(29)
Total noninterest income	61,834	48,908	25,551
Noninterest Expenses
Salaries	75,077	66,786	51,252
Employee benefits	16,888	15,313	11,568
Total personnel expense	91,965	82,099	62,820
Occupancy expense	10,793	9,661	7,838
Equipment related expenses	5,627	4,480	3,608
Merger and acquisition expenses	2,358	8,073	1,431
Intangibles amortization	6,763	4,240	1,211
Other operating expenses	41,869	36,604	29,913
Total noninterest expenses	159,375	145,157	106,821
Income before income taxes	113,478	67,739	42,133
Income tax expense	24,189	21,767	14,624
Net income	89,289	45,972	27,509
Preferred stock dividends			(175)
Net income available to common shareholders	$ 89,289	$ 45,972	$ 27,334
Earnings per common share: Basic	$ 3.02	$ 1.82	$ 1.37
Earnings per common share: Diluted	3.01	1.82	1.33
Dividends declared per common share	$ 0.40	$ 0.32	$ 0.32
Weighted average common shares outstanding:
Basic	29,566,259	25,210,606	19,964,727
Diluted	29,707,431	25,291,382	20,732,917

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 89,289	$ 45,972	$ 27,509
Unrealized gains (losses) on securities available for sale:
Unrealized holding gains (losses) arising during the period, pretax	(10,179)	639	(1,919)
Tax (expense) benefit	2,379	(234)	683
Reclassification to realized (gains) losses		235	(3)
Tax expense (benefit)		(87)	1
Postretirement plans:
Net gain (loss) arising during period	(41)	1,601	(557)
Tax (expense) benefit	10	(593)	115
Amortization of unrecognized net actuarial (gain) loss	21	211	202
Tax expense (benefit)	(5)	(75)	(79)
Other comprehensive income (loss)	(7,815)	1,697	(1,557)
Comprehensive income	$ 81,474	$ 47,669	$ 25,952

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, 2015	$ 7,287	$ 133,393	$ 205,060			$ (3,550)	$ 342,190
Beginning 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
Net income			89,289				$ 89,289
Payment of deferred fees				346	(346)
Stock option exercises		$ 324					324
Stock option exercises, shares		25
Stock withheld for payment of taxes		$ (406)					(406)
Stock withheld for payment of taxes, shares		(11)
Stock-based compensation		$ 1,741					1,741
Stock-based compensation, shares		72
Other comprehensive income (loss)						(7,815)	(7,815)
Ending balance at Dec. 31, 2018		$ 434,453	$ 341,738	$ (3,235)	$ 3,235	$ (11,961)	$ 764,230
Ending balance, shares at Dec. 31, 2018		29,725					29,724,874

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends declared, per share	$ 0.40	$ 0.32	$ 0.32

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows From Operating Activities
Net income	$ 89,289	$ 45,972	$ 27,509
Reconciliation of net income to net cash provided by operating activities:
Provision (reversal) for loan losses	(3,589)	723	(23)
Net security premium amortization	2,749	2,908	3,341
Loan discount accretion	(7,812)	(7,076)	(4,451)
Purchase accounting accretion and amortization, net	(190)	(236)
FDIC indemnification asset expense, net			10,255
Foreclosed property losses and write-downs, net	565	531	625
Loss (gain) on securities available for sale		235	(3)
Other (gains) losses	(723)	(383)	29
Decrease (increase) in net deferred loan costs	(2,285)	975	922
Depreciation of premises and equipment	6,077	5,493	4,602
Stock-based compensation expense	1,569	1,095	714
Amortization of intangible assets	6,763	4,240	1,211
Fees/gains from sale of presold mortgage and SBA loans	(13,101)	(11,174)	(3,466)
Originations of presold mortgage loans in process of settlement	(118,791)	(228,871)	(76,912)
Proceeds from sales of presold mortgage loans in process of settlement	129,519	235,493	81,127
Origination of SBA loans for sale	(196,784)	(95,436)	(24,784)
Proceeds from sales of SBA loans	157,427	77,034	20,021
Gain on sale of branches			(1,466)
Increase in accrued interest receivable	(1,910)	(1,072)	(120)
Decrease (increase) in other assets	3,525	6,724	(724)
Increase (decrease) in accrued interest payable	741	392	(4)
Increase (decrease) in other liabilities	(6,629)	(10,729)	2,868
Net cash provided by operating activities	46,410	26,838	41,271
Cash Flows From Investing Activities
Purchases of securities available for sale	(230,794)	(191,260)	(114,396)
Purchases of securities held to maturity		(291)
Proceeds from maturities/issuer calls of securities available for sale	60,871	37,974	76,939
Proceeds from maturities/issuer calls of securities held to maturity	16,183	22,344	23,368
Proceeds from sales of securities available for sale		140,621	8
Purchases of Federal Reserve and Federal Home Loan Bank stock, net	(6,129)	(9,947)	(3,933)
Net increase in loans	(152,972)	(204,631)	(192,393)
Payments related to FDIC loss share agreements			(1,554)
Payment to FDIC for termination of loss share agreements			(2,012)
Proceeds from sales of foreclosed real estate	7,532	8,647	7,954
Purchases of premises and equipment	(10,723)	(4,659)	(8,689)
Proceeds from sales of premises and equipment	2,753	151	2,025
Proceeds from branch sale			26,211
Net cash received (paid) in acquisitions		72,519	(53,640)
Net cash used by investing activities	(313,279)	(128,532)	(240,112)
Cash Flows From Financing Activities
Net increase in deposits	252,756	195,468	158,989
Net increase (decrease) in borrowings	(1,116)	97,263	85,000
Cash dividends paid - common stock	(11,281)	(7,596)	(6,399)
Cash dividends paid - preferred stock			(233)
Proceeds from stock option exercises	324	287	375
Stock withheld for payment of taxes	(406)	(231)	(166)
Net cash provided by financing activities	240,277	285,191	237,566
Increase (decrease) in Cash and Cash Equivalents	(26,592)	183,497	38,725
Cash and Cash Equivalents, Beginning of Year	489,490	305,993	267,268
Cash and Cash Equivalents, End of Year	462,898	489,490	305,993
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for interest	23,036	12,239	7,653
Cash paid during the period for income taxes	21,162	19,537	11,791
Non-cash: Foreclosed loans transferred to foreclosed real estate	4,148	5,452	8,117
Non-cash: Unrealized gain (loss) on securities available for sale, net of taxes	$ (7,800)	$ 553	$ (1,238)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
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 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 2018 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 substantially 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) SBA Loan Originations 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, 2018 or 2017. (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, 2018 and 2017, the Company’s investments in limited partnerships, LLCs and other privately held companies totaled $7.5 million and $5.3 million, respectively, and were included in other assets. (p) Stock Option Plan - At December 31, 2018, 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, 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 contingently issuable shares, the number of shares that are included in the calculation of dilutive securities is based on the number of shares that are issuable if the end of the reporting period were the end of the contingency period. 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 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, 2018 2017 2016 ($ in thousands, Income Shares Per Income Shares Per Income Shares Per Basic EPS Net income available to common shareholders $ 89,289 29,566,259 $ 3.02 $ 45,972 25,210,606 $ 1.82 $ 27,334 19,964,727 $ 1.37 Effect of dilutive securities — 141,172 — 80,776 175 768,190 Diluted EPS per common share $ 89,289 29,707,431 $ 3.01 $ 45,972 25,291,382 $ 1.82 $ 27,509 20,732,917 $ 1.33 For the years ended December 31, 2018 and 2017, there were no options that were anti-dilutive. For the year ended December 31, 2016, there were 5,000 options 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 determined assuming the sale of the notes to a third-party financial investor. 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 with a liquidity discount offered on loans with similar risk characteristics, and includes the Company’s estimate of future credit losses expected to be incurred over the life of the loan. 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. SBA Servicing Asset – The fair value of the Company’s SBA servicing asset is estimated based on the present value of the discounted cash flows of the expected servicing income less the estimated cost to service the loans. 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, 2018 and 2017, 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 $ (12,390 ) (2,211 ) (3,085 ) Deferred tax asset (liability) 2,896 517 1,138 Net unrealized gain (loss) on securities available for sale (9,494 ) (1,694 ) (1,947 ) Additional pension asset (liability) (3,220 ) (3,200 ) (5,012 ) Deferred tax asset (liability) 753 748 1,852 Net additional pension asset (liability) (2,467 ) (2,452 ) (3,160 ) Total accumulated other comprehensive income (loss) $ (11,961 ) (4,146 ) (5,107 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the years ended December 31, 2018, 2017, and 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 ) 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 ) Other comprehensive income (loss) before reclassifications (7,800 ) (31 ) (7,831 ) Amounts reclassified from accumulated other comprehensive income — 16 16 Net current-period other comprehensive income (loss) (7,800 ) (15 ) (7,815 ) Ending balance at December 31, 2018 $ (9,494 ) (2,467 ) (11,961 ) (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 - Accounting Standards Adopted in 2018 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’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 were not affected. The guidance was effective for the Company on January 1, 2018 and the Company adopted the guidance using the modified retrospective method. The adoption did not have a material effect on the Company’s financial statements. See Note 20 for additional information on this matter. 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 instrume

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2018
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 transaction value was $2.2 million 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 was 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 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 acquisition agreement, the Company recorded an earn-out liability initially valued at $3.0 million, which will be paid in shares of Company stock if pre-determined goals are met for the first three years following the acquisition. 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, were 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. Subsequent to the measurement period, later in 2017, the Company recorded a $780,000 upward adjustment to the earn-out liability with a charge to earnings. In 2018, a net downward adjustment of $32,000 was recorded to the earn-out liability with a positive credit to earnings. (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 this 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 was accounted for using the purchase method of accounting for business combinations, and accordingly, the assets and liabilities of the acquired branches were recorded on the Company’s balance sheet at their fair values as of July 15, 2016 and 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’s subsidiary bank was a North Carolina state-chartered bank with eight 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 complemented the Company’s expansion into several of these high-growth markets and increased 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 was able to change its valuations of acquired Carolina Bank assets and liabilities for up to one year after the acquisition date by recording measurement period adjustments. 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 $66.5 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ 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) 757 (n) 30,929 Total 683,852 5,536 584 689,972 Liabilities Deposits $ 584,950 431 (i) — 585,381 Borrowings 21,855 (2,855 ) (j) (262 ) (o) 18,738 Other 12,855 225 (k) (444 ) (p) 12,636 Total 619,660 (2,199 ) (706 ) 616,755 Net identifiable assets acquired 73,217 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 $ 66,540 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 is being 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 securities was less than the current interest rate on similar instruments. This amount is being 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 based on newly obtained valuations. (o) This fair value adjustment relates to miscellaneous adjustments to decrease the initial fair value of borrowings. (p) This fair value adjustment related to a change in the estimate of a contingent liability. The following unaudited pro forma financial information presents the combined results of the Company and Carolina Bank as if the acquisition had occurred as of January 1, 2016, after giving effect to certain adjustments, including amortization of the core deposit intangible, and related income tax effects. The pro forma financial information does not necessarily reflect the results of operations that would have occurred had the Company and Carolina Bank constituted a single entity during such period. ($ in thousands, except share data) 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 each included 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, and represented an opportunity to complement the Company’s 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, 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 acquisition agreement, the Company also recorded an earn-out liability initially 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. Asheville Savings Bank’s subsidiary bank was a North Carolina state-chartered savings bank with eight branches located in Buncombe County, North Carolina and five branches located in the counties of Henderson, Madison, McDowell and Transylvania, all in North Carolina. The acquisition complemented 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 was able to change its valuations of acquired Asheville Savings Bank assets and liabilities for up to one year after the acquisition date by recording measurement period adjustments. 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 $88.7 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ 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) 120 (i) 9,880 Other 35,944 (5,851 ) (f) (777 ) (j) 29,316 Total 797,744 9,472 (657 ) 806,559 Liabilities Deposits $ 678,707 430 (g) — 679,137 Borrowings 20,000 — — 20,000 Other 8,943 298 (h) (380 ) (k) 8,861 Total 707,650 728 (380 ) 707,998 Net identifiable assets acquired 98,561 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 $ 88,677 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 impaired 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 is being 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 is being 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. (i) This fair value adjustment relates to a change in the final amount of the core deposit intangible asset from the amount originally estimated. (j) This fair value adjustment relates to the write-down of a foreclosed property based on an updated appraisal and the related tax deferred tax asset adjustment. (k) This fair value adjustment was recorded to adjust the tax liability assumed on the acquisition date based on updated information. 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 each included above in the pro forma presentation for 2016.

Securities

Securities	12 Months Ended
	Dec. 31, 2018
Securities [Abstract]
Securities	Note 3. Securities The book values and approximate fair values of investment securities at December 31, 2018 and 2017 are summarized as follows: 2018 2017 Amortized Fair Unrealized Amortized Fair Unrealized ($ in thousands) Cost Value Gains (Losses) Cost Value Gains (Losses) Securities available for sale: Government-sponsored enterprise securities $ 82,995 82,662 63 (396 ) 14,000 13,867 — (133 ) Mortgage-backed securities 396,995 385,551 39 (11,483 ) 297,690 295,213 246 (2,722 ) Corporate bonds 33,751 33,138 76 (689 ) 33,792 34,190 512 (114 ) Total available for sale 513,741 501,351 178 (12,568 ) 345,482 343,270 758 (2,969 ) Securities held to maturity: Mortgage-backed securities 52,048 50,241 — (1,807 ) 63,829 63,092 — (737 ) State and local governments 49,189 49,665 525 (49 ) 54,674 55,906 1,280 (48 ) Total held to maturity $ 101,237 99,906 525 (1,856 ) 118,503 118,998 1,280 (785 ) All of the Company’s mortgage-backed securities were issued by government-sponsored corporations, except for private mortgage-backed securities with a fair value of $1.0 million and $0.5 million as of December 31, 2018 and 2017, respectively. The following table presents information regarding securities with unrealized losses at December 31, 2018: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 4,921 78 13,682 318 18,603 396 Mortgage-backed securities 82,525 351 294,305 12,939 376,830 13,290 Corporate bonds 20,704 433 5,817 256 26,521 689 State and local governments 595 1 6,641 48 7,236 49 Total temporarily impaired securities $ 108,745 863 320,445 13,561 429,190 14,424 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 In the above tables, all of the securities that were in an unrealized loss position at December 31, 2018 and 2017 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 evaluated the collectability of each of these bonds and concluded that there was 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 book values and approximate fair values of investment securities at December 31, 2018, 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 $ — — $ 2,233 2,240 Due after one year but within five years 109,205 108,303 28,488 28,766 Due after five years but within ten years 2,541 2,559 16,743 16,932 Due after ten years 5,000 4,938 1,725 1,727 Mortgage-backed securities 396,995 385,551 52,048 50,241 Total securities $ 513,741 501,351 $ 101,237 99,906 At December 31, 2018 and 2017, investment securities with carrying values of $234,382,000 and $176,813,000, respectively, were pledged as collateral for public deposits. The Company sold no securities in 2018, while 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. 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 $37,468,000 and $31,338,000 at December 31, 2018 and 2017, respectively. The FHLB stock had a cost and fair value of $20,036,000 and $19,647,000 at December 31, 2018 and 2017, 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 $17,432,000 and $11,691,000 at December 31, 2018 and 2017, 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. The Company owns 12,356 Class B shares of Visa, Inc. (“Visa”) stock that were received upon Visa’s initial public offering. These shares are expected to convert into Class A Visa shares subsequent to the settlement of certain litigation against Visa. The Class B shares have transfer restrictions, and the conversion rate into Class A shares is periodically adjusted as Visa settles litigation. The conversion rate at December 31, 2018 was approximately 1.63, which means the Company would receive approximately 20,140 Class A shares if the stock had converted on that date. This stock does not have a readily determinable fair value and is therefore carried at its cost basis of zero. If a readily determinable fair value becomes available for the Class B shares, or upon the conversion to Class A shares, the Company will adjust the carrying value of the stock to its market value with a credit to earnings.

Loans and Asset Quality Informa

Loans and Asset Quality Information	12 Months Ended
	Dec. 31, 2018
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 began to 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, $19.3 million were considered to be purchased credit impaired (“PCI”) loans, which are loans for which it is probable at acquisition date that all contractually required payments will not be collected. The remaining loans were considered to be purchased non-impaired loans and their related fair value discount or premium is being recognized as an adjustment to yield over the remaining life of each loan. The following table relates to acquired Carolina Bank PCI loans and summarizes the contractually required payments, which includes principal and interest, expected cash flows to be collected, and the fair value of acquired PCI loans at the acquisition date. ($ 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, $9.9 million were considered to be PCI loans. The remaining loans were considered to be purchased non-impaired loans and their related fair value discount or premium is being recognized as an adjustment to yield over the remaining life of each loan. The following table relates to acquired Asheville Savings Bank PCI loans and summarizes the contractually required payments, which includes principal and interest, expected cash flows to be collected, and the fair value of acquired PCI loans at the acquisition date. ($ 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, 2018 December 31, 2017 Amount Percentage Amount Percentage All loans: Commercial, financial, and agricultural $ 457,037 11% $ 381,130 10% Real estate – construction, land development & other land loans 518,976 12% 539,020 13% Real estate – mortgage – residential (1-4 family) first mortgages 1,054,176 25% 972,772 24% Real estate – mortgage – home equity loans / lines of credit 359,162 8% 379,978 9% Real estate – mortgage – commercial and other 1,787,022 42% 1,696,107 42% Installment loans to individuals 71,392 2% 74,348 2% Subtotal 4,247,765 100% 4,043,355 100% Unamortized net deferred loan costs (fees) 1,299 (986 ) Total loans $ 4,249,064 $ 4,042,369 Loans in the amount of $3.8 billion and $3.6 billion were pledged as collateral for certain borrowings as of December 31, 2018 and December 31, 2017, respectively (see Note 10). The loans above also include loans to executive officers and directors serving the Company at December 31, 2018 and to their associates, totaling approximately $5.7 million and $3.6 million at December 31, 2018 and 2017, respectively. During 2018, net advances on such loans were approximately $2.1 million At December 31, 2018 and 2017, there was a remaining unaccreted discount on the retained portion of sold SBA loans amounting to $5.7 million and $2.6 million, respectively. As of December 31, 2018 and 2017, there was a remaining accretable discount of $15.0 million and $21.5 million, respectively, related to purchased non-impaired loans. Both types of discounts are amortized as yield adjustments over the respective lives of the loans, so long as the loans perform. The following table presents changes in the carrying value of PCI loans. ($ in thousands) For the Year For the Year Balance at beginning of period $ 23,165 514 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 (5,799 ) (6,016 ) Change due to loan charge-offs (10 ) (12 ) Transfers to foreclosed real estate (4 ) (69 ) Other 41 (392 ) Balance at end of period $ 17,393 23,165 The following table presents changes in the accretable yield for PCI loans. ($ in thousands) For the Year For the Year Balance at beginning of period $ 4,688 — Additions due to acquisition of Carolina Bank — 3,617 Additions due to acquisition of Asheville Savings Bank — 1,804 Accretion (2,050 ) (1,846 ) Reclassification from (to) nonaccretable difference 849 423 Other, net 1,263 690 Balance at end of period $ 4,750 4,688 During 2018, the Company received $772,000 in payments that exceeded the carrying amount of the related PCI loans, of which $493,000 was recognized as loan discount accretion income and $279,000 was recorded as additional loan interest income. During 2017, the Company received $1,064,000 in payments that exceeded the carrying amount of the related PCI loans, of which $962,000 was recognized as loan discount accretion income and $102,000 was recorded as additional loan interest income. During 2018, the Company recorded $750,000 in interest recoveries on purchased non-impaired loans. Amounts recorded for 2016 and 2017 were not significant. Nonperforming assets are defined as nonaccrual loans, restructured loans, loans past due 90 or more days and still accruing interest, and foreclosed real estate. Nonperforming assets are summarized as follows: ASSET QUALITY DATA ($ in thousands) December 31, December 31, Nonperforming assets Nonaccrual loans $ 22,575 20,968 Restructured loans - accruing 13,418 19,834 Accruing loans > 90 days past due — — Total nonperforming loans 35,993 40,802 Foreclosed real estate 7,440 12,571 Total nonperforming assets $ 43,433 53,373 Purchased credit impaired loans not included above (1) $ 17,393 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 and $0.6 million in PCI loans at December 31, 2018 and 2017, respectively, that are contractually past due 90 days or more. At December 31, 2018 and 2017, the Company had $0.7 million and $0.8 million in residential mortgage loans in process of foreclosure, respectively. If the nonaccrual and restructured loans as of December 31, 2018, 2017 and 2016 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 $1,616,000, $1,503,000, and $1,893,000 for nonaccrual loans and $974,000, $1,182,000, and $1,417,000, for restructured loans would have been recorded for 2018, 2017, and 2016, respectively. Interest income on such loans that was actually collected and included in net income in 2018, 2017 and 2016 amounted to approximately $765,000, $415,000, and $266,000 for nonaccrual loans (prior to their being placed on nonaccrual status), and $763,000, $885,000, and $423,000 for restructured loans, respectively. At December 31, 2018 and 2017, there were no commitments to lend additional funds to debtors whose loans were nonperforming. The following is a summary the Company’s nonaccrual loans by major categories. ($ in thousands) December 31, December 31, Commercial, financial, and agricultural $ 919 1,001 Real estate – construction, land development & other land loans 2,265 1,822 Real estate – mortgage – residential (1-4 family) first mortgages 10,115 12,201 Real estate – mortgage – home equity loans / lines of credit 1,685 2,524 Real estate – mortgage – commercial and other 7,452 3,345 Installment loans to individuals 139 75 Total $ 22,575 20,968 The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2018. ($ in thousands) Accruing Accruing 60- Accruing 90 Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 191 5 — 919 455,692 456,807 Real estate – construction, land development & other land loans 849 212 — 2,265 515,472 518,798 Real estate – mortgage – residential (1-4 family) first mortgages 14,178 1,369 — 10,115 1,022,261 1,047,923 Real estate – mortgage – home equity loans / lines of credit 1,048 254 — 1,685 355,831 358,818 Real estate – mortgage – commercial and other 709 520 — 7,452 1,768,205 1,776,886 Installment loans to individuals 359 220 — 139 70,422 71,140 Purchased credit impaired 990 138 583 — 15,682 17,393 Total $ 18,324 2,718 583 22,575 4,203,565 4,247,765 Unamortized net deferred loan costs 1,299 Total loans $ 4,249,064 The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2017. ($ in thousands) Accruing Accruing 60- 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 the activity in the allowance for loan losses for the year ended December 31, 2018. ($ in thousands) Commercial, Real Estate – Real Estate – Real Estate Real Estate Install- Unallo- Total As of and for the year ended December 31, 2018 Beginning balance $ 3,111 2,816 6,147 1,827 6,475 950 1,972 23,298 Charge-offs (2,128 ) (158 ) (1,734 ) (711 ) (1,459 ) (781 ) — (6,971 ) Recoveries 1,195 4,097 833 364 1,503 309 — 8,301 Provisions 711 (4,512 ) (49 ) 185 1,464 474 (1,862 ) (3,589 ) Ending balance $ 2,889 2,243 5,197 1,665 7,983 952 110 21,039 Ending balances as of December 31, 2018: Allowance for loan losses Individually evaluated for impairment $ 226 134 955 48 906 — — 2,269 Collectively evaluated for impairment $ 2,661 2,109 4,143 1,608 7,070 941 110 18,642 Purchased credit impaired $ 2 — 99 9 7 11 — 128 Loans receivable as of December 31, 2018: Ending balance – total $ 457,037 518,976 1,054,176 359,162 1,787,022 71,392 — 4,247,765 Unamortized net deferred loan costs 1,299 Total loans $ 4,249,064 Ending balances as of December 31, 2018: Loans Individually evaluated for impairment $ 696 1,345 12,391 296 9,525 — — 24,253 Collectively evaluated for impairment $ 456,111 517,453 1,035,532 358,522 1,767,361 71,140 — 4,206,119 Purchased credit impaired $ 230 178 6,253 344 10,136 252 — 17,393 The following table presents the activity in the allowance for loan losses for the year ended December 31, 2017. ($ in thousands) Commercial, Real Estate – Real Estate – Real Estate Real Estate Install- 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 were 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, 2018. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 310 310 — 957 Real estate – mortgage – construction, land development & other land loans 485 803 — 2,366 Real estate – mortgage – residential (1-4 family) first mortgages 4,626 4,948 — 4,804 Real estate – mortgage –home equity loans / lines of credit 22 31 — 91 Real estate – mortgage –commercial and other 3,475 4,237 — 3,670 Installment loans to individuals — — — — Total impaired loans with no allowance $ 8,918 10,329 — 11,888 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 386 387 226 422 Real estate – mortgage – construction, land development & other land loans 860 864 134 385 Real estate – mortgage – residential (1-4 family) first mortgages 7,765 7,904 955 8,963 Real estate – mortgage –home equity loans / lines of credit 274 275 48 184 Real estate – mortgage –commercial and other 6,050 6,054 906 5,911 Installment loans to individuals — — — 2 Total impaired loans with allowance $ 15,335 15,484 2,269 15,867 Interest income recorded on impaired loans during the year ended December 31, 2018 was insignificant. 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 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 (<$500,000) with a well-defined weakness, such as exceptions of any kind with no mitigating factors, history of paying outside the terms of the note, insufficient income to support the current level of debt, etc. The following table presents the Company’s recorded investment in loans by credit quality indicators as of December 31, 2018. ($ in thousands) Pass Special Mention Classified Classified Total Commercial, financial, and agricultural $ 452,373 3,056 459 919 456,807 Real estate – construction, land development & other land loans 509,251 5,668 1,614 2,265 518,798 Real estate – mortgage – residential (1-4 family) first mortgages 1,004,457 12,238 21,113 10,115 1,047,923 Real estate – mortgage – home equity loans / lines of credit 348,792 1,688 6,653 1,685 358,818 Real estate – mortgage – commercial and other 1,750,810 14,484 4,140 7,452 1,776,886 Installment loans to individuals 70,357 231 413 139 71,140 Purchased credit impaired 8,355 5,214 3,824 — 17,393 Total $ 4,144,395 42,579 38,216 22,575 4,247,765 Unamortized net deferred loan costs 1,299 Total loans 4,249,064 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 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 majority of the Company’s troubled debt restructurings modified during the years ended December 31, 2018 and 2017 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, 2018 and 2017. ($ in thousands) For the year ended For the year ended Number of Pre- Post- Number of Pre- Post- TDRs – Accruing Commercial, financial, and agricultural — $ — $ — — $ — $ — Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages 2 254 273 — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — 6 4,120 4,095 Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — 1 38 25 Real estate – construction, land development & other land loans 1 61 61 1 32 32 Real estate – mortgage – residential (1-4 family) first mortgages 3 340 350 2 262 262 Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 6 $ 655 $ 684 10 $ 4,452 $ 4,414 Accruing restructured loans that were modified in the previous 12 months and that defaulted during the years ended December 31, 2018 and 2017 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 Real estate – mortgage – residential (1-4 family first mortgages) 1 $ 60 2 880 Real estate – mortgage – commercial and other 3 1,333 — — Total accruing TDRs that subsequently defaulted 4 $ 1,393 2 $ 880

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Premises and Equipment	Note 5. Premises and Equipment Premises and equipment at December 31, 2018 and 2017 consisted of the following: ($ in thousands) 2018 2017 Land $ 38,647 38,821 Buildings 93,794 92,337 Furniture and equipment 36,115 35,532 Leasehold improvements 2,404 2,409 Total cost 170,960 169,099 Less accumulated depreciation and amortization (51,960 ) (52,866 ) Net book value of premises and equipment $ 119,000 116,233

FDIC Indemnification Asset

FDIC Indemnification Asset	12 Months Ended
	Dec. 31, 2018
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, 2016 through the date of termination. ($ in thousands) Balance at January 1, 2016 $ 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, 2018
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 amortizable intangible assets as of December 31, 2018 and December 31, 2017 and the carrying amount of unamortizable intangible assets as of those same dates. December 31, 2018 December 31, 2017 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists $ 6,013 1,637 6,013 1,090 Core deposit intangibles 28,440 16,469 28,280 11,475 SBA servicing asset 5,472 1,053 2,194 207 Other 1,303 957 1,303 581 Total $ 41,228 20,116 37,790 13,353 Unamortizable intangible assets: Goodwill $ 234,368 233,070 Activity related to transactions since January 1, 2017 includes the following: (1) In connection with the Carolina Bank acquisition on March 3, 2017, the Company recorded a net increase of $66,540,000 in goodwill and $8,790,000 in a core deposit intangible. (2) 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. (3) In connection with the Asheville Savings Bank acquisition on October 1, 2017, the Company recorded a net increase of $88,677,000 in goodwill and $9,880,000 in a core deposit intangible. In addition to the above acquisition related activity, the Company recorded $3,278,000 and $1,779,000 in servicing assets associated with the guaranteed portion of SBA loans originated and sold during 2018 and 2017, respectively. During 2018 and 2017, the Company recorded $846,000 and $207,000, respectively, in related amortization expense. Servicing assets are recorded for loans, or portions thereof, that the Company has sold but continue to service for a fee. Servicing assets are recorded at fair value and amortized over the expected lives of the related loans and are tested for impairment on a quarterly basis. Amortization expense of all intangible assets totaled $6,763,000, $4,240,000 and $1,211,000 for the years ended December 31, 2018, 2017 and 2016, respectively. Goodwill is evaluated for impairment on at least an annual basis – see Note 1(s). For each of the years presented, the Company’s evaluation indicated that there was no goodwill impairment. The following table presents the estimated amortization expense related to amortizable intangible assets for each of the five calendar years ending December 31, 2023 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortizable intangible assets. ($ in thousands) Estimated 2019 $ 5,649 2020 4,549 2021 3,549 2022 2,459 2023 1,398 Thereafter 3,508 Total $ 21,112

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes Total income taxes for the years ended December 31, 2018, 2017, and 2016 were allocated as follows: ($ In thousands) 2018 2017 2016 Allocated to net income $ 24,189 21,767 14,624 Allocated to stockholders’ equity, for unrealized holding gain/loss on (2,379 ) 321 (685 ) Allocated to stockholders’ equity, for tax benefit of pension liabilities (5 ) 668 (36 ) Total income taxes $ 21,805 22,756 13,903 The components of income tax expense for the years ended December 31, 2018, 2017, and 2016 are as follows: ($ In thousands) 2018 2017 2016 Current - Federal $ 19,188 11,286 12,827 - State 3,187 1,996 1,679 Deferred - Federal 1,658 7,742 16 - State 156 743 102 Total $ 24,189 21,767 14,624 The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2018 and 2017 are presented below: ($ In thousands) 2018 2017 Deferred tax assets: Allowance for loan losses $ 4,917 5,448 Excess book over tax pension plan cost 92 — Deferred compensation 367 1,220 Federal & state net operating loss and tax credit carryforwards 631 2,125 Accruals, book versus tax 3,036 2,546 Pension liability adjustments 752 748 Foreclosed real estate 715 740 Basis differences in assets acquired in FDIC transactions 1,121 1,311 Nonqualified stock options 240 248 Partnership investments 208 232 Unrealized gain on securities available for sale 2,895 517 SBA servicing asset 310 139 All other 42 42 Gross deferred tax assets 15,326 15,316 Less: Valuation allowance (36 ) (44 ) Net deferred tax assets 15,290 15,272 Deferred tax liabilities: Loan fees (2,484 ) (1,880 ) Excess book over tax pension plan cost — (95 ) Depreciable basis of fixed assets (4,278 ) (3,122 ) Amortizable basis of intangible assets (7,921 ) (7,915 ) FHLB stock dividends (721 ) (658 ) Trust preferred securities (528 ) (616 ) Purchase accounting adjustments (122 ) (2,133 ) All other — (28 ) Gross deferred tax liabilities (16,054 ) (16,447 ) Net deferred tax asset (liability) - included in other assets $ (764 ) (1,175 ) 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 2018 and 2017 deferred tax expense (benefit) of approximately ($2,379,000) and $321,000 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 2018 and 2017 deferred tax expense (benefit) of ($5,000) and $668,000 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 liability of approximately $159,000 relating to adjustments made to acquisition transactions that occurred during the prior year. The balance of the 2018 increase in the net deferred tax liability of $1,814,000 is reflected as deferred income tax expense, and the balance of the 2017 increase in the net deferred tax liability of $8,485,000 is reflected as deferred income tax expense in the consolidated statement of income. The valuation allowances for 2018 and 2017 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 tax returns are subject to income tax audit by federal and state agencies beginning with the year 2015. There are no indications of any material adjustments relating to any examination currently being conducted by any taxing authority. Retained earnings at December 31, 2018 and 2017 include approximately $6,869,000 representing pre-1988 tax bad debt reserve base year amounts for which no deferred income tax liability has been provided since these reserves are not expected to reverse or may never reverse. Circumstances that would require an accrual of a portion or all of this unrecorded tax liability are a reduction in qualifying loan levels relative to the end of 1987, failure to meet the definition of a bank, dividend payments in excess of accumulated tax earnings and profits, or other distributions in dissolution, liquidation or redemption of the Bank’s stock. The following is a reconcilement of federal income tax expense at the statutory rate of 21% at December 31, 2018 and 35% at December 31, 2017 and 2016, to the income tax provision reported in the financial statements. ($ In thousands) 2018 2017 2016 Tax provision at statutory rate $ 23,830 23,709 14,746 Increase (decrease) in income taxes resulting from: Tax-exempt interest income (1,117 ) (1,461 ) (1,202 ) Low income housing and AMT tax credits (698 ) (596 ) (192 ) Non-deductible interest expense 27 24 16 State income taxes, net of federal benefit 2,639 1,780 1,158 Change in valuation allowance (8 ) (1 ) (24 ) Impact of tax reform — (1,269 ) — Other, net (484 ) (419 ) 122 Total $ 24,189 21,767 14,624 On December 22, 2017, the Tax Cut and Jobs Act was signed into law. Among other things, this 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 were 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. Accordingly, during the fourth quarter of 2017, the Company recorded $1.3 million in tax benefit as a result of this revaluation.

Time Deposits and Related Party

Time Deposits and Related Party Deposits	12 Months Ended
	Dec. 31, 2018
Time Deposits and Related Party Deposits [Abstract]
Time Deposits and Related Party Deposits	Note 9. Time Deposits and Related Party Deposits At December 31, 2018, the scheduled maturities of time deposits were as follows: ($ in thousands) 2019 $ 753,537 2020 117,229 2021 48,477 2022 21,726 2023 13,136 Thereafter 817 $ 954,922 Deposits received from executive officers and directors and their associates totaled approximately $1.0 million and $3.8 million at December 31, 2018 and 2017, 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, 2018 and 2017, the Company held $503.1 million and $405.1 million, respectively, in time deposits of $250,000 or more (which is the current FDIC insurance limit for insured deposits as of December 31, 2018). Included in these deposits were brokered deposits of $239.9 million and $234.0 million at December 31, 2018 and 2017, respectively.

Borrowings and Borrowings Avail

Borrowings and Borrowings Availability	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017: Description – 2018 Due date Call Feature 2018 Interest Rate FHLB Term Note 1/10/2019 None $ 68,000,000 2.47% fixed FHLB Term Note 1/17/2019 None 135,000,000 2.49% fixed FHLB Term Note 1/24/2019 None 20,000,000 2.54% fixed FHLB Term Note 1/31/2019 None 20,000,000 2.53% fixed FHLB Term Note 1/31/2019 None 10,000,000 2.53% fixed FHLB Term Note 4/18/2019 None 50,000,000 2.36% fixed FHLB Term Note 5/29/2020 None 40,000,000 1.62% fixed FHLB Principal Reducing Credit 7/24/2023 None 210,000 1.00% fixed FHLB Principal Reducing Credit 12/22/2023 None 1,065,000 1.25% fixed FHLB Principal Reducing Credit 1/15/2026 None 7,500,000 1.98% fixed FHLB Principal Reducing Credit 6/26/2028 None 255,000 0.25% fixed FHLB Principal Reducing Credit 7/17/2028 None 61,000 0.00% fixed FHLB Principal Reducing Credit 8/18/2028 None 188,000 1.00% fixed FHLB Principal Reducing Credit 8/22/2028 None 188,000 1.00% fixed FHLB Principal Reducing Credit 12/20/2028 None 379,000 0.50% fixed Trust Preferred Securities 1/23/2034 Quarterly by Company 20,620,000 5.22% at 12/31/2018 Trust Preferred Securities 6/15/2036 Quarterly by Company 25,774,000 4.18% at 12/31/2018 Trust Preferred Securities 1/07/2035 Quarterly by Company 10,310,000 4.44% at 12/31/2018 Total borrowings / weighted average rate as of December 31, 2018 $ 409,550,000 2.68% Unamortized discount on acquired borrowings (2,941,000 ) Total borrowings $ 406,609,000 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 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 became 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 became 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 tables, 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 became 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, 2018, the Company had three sources of readily available borrowing capacity – 1) an approximately $1.04 billion line of credit with the FHLB, of which $353 million was outstanding at December 31, 2018 and $354 million was outstanding at December 31, 2017, 2) a $35 million federal funds line of credit with a correspondent bank, of which none was outstanding at December 31, 2018 or 2017, and 3) an approximately $127 million line of credit through the Federal Reserve Bank of Richmond’s (FRB) discount window, of which none was outstanding at December 31, 2018 or 2017. The Company’s line of credit with the FHLB totaling approximately $1.04 billion 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 $190 million and $198 million at December 31, 2018 and 2017, respectively, 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 $502 million at December 31, 2018 and $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, 2018 or 2017. 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, 2018, the available line of credit was approximately $127 million. The Company had no borrowings outstanding under this line of credit at December 31, 2018 or 2017.

Leases

Leases	12 Months Ended
	Dec. 31, 2018
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 2018, $2.3 million in 2017, and $1.5 million in 2016. Future obligations for minimum rentals under noncancelable operating leases at December 31, 2018 are as follows: ($ in thousands) Year ending December 31: 2019 $ 2,268 2020 1,973 2021 1,344 2022 869 2023 768 Thereafter 4,082 Total $ 11,304

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
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 2018, 2017 or 2016. The Company does not expect to contribute to the Pension Plan in 2019. 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) 2018 2017 2016 Change in benefit obligation Benefit obligation at beginning of year $ 38,150 36,840 36,164 Service cost — — — Interest cost 1,312 1,449 1,502 Actuarial (gain) loss (1,160 ) 1,941 1,288 Benefits paid (1,948 ) (2,080 ) (2,114 ) Benefit obligation at end of year 36,354 38,150 36,840 Change in plan assets Plan assets at beginning of year 41,306 36,950 35,489 Actual return on plan assets (188 ) 6,436 3,575 Employer contributions — — — Benefits paid (1,948 ) (2,080 ) (2,114 ) Plan assets at end of year 39,170 41,306 36,950 Funded status at end of year $ 2,816 3,156 110 The accumulated benefit obligation related to the Pension Plan was $36,354,000, $38,150,000, and $36,840,000 at December 31, 2018, 2017, and 2016, respectively. The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 as it relates to the Pension Plan, excluding the related deferred tax assets. ($ in thousands) 2018 2017 Other assets $ 2,816 3,156 Other liabilities — — $ 2,816 3,156 The following table presents information regarding the amounts recognized in accumulated other comprehensive income (“AOCI”) at December 31, 2018 and 2017, as it relates to the Pension Plan. ($ in thousands) 2018 2017 Net gain (loss) $ (4,034 ) (3,925 ) Prior service cost — — Amount recognized in AOCI before tax effect (4,034 ) (3,925 ) Tax (expense) benefit 943 1,452 Net amount recognized as increase (decrease) to AOCI $ (3,091 ) (2,473 ) The following table reconciles the beginning and ending balances of AOCI at December 31, 2018 and 2017, as it relates to the Pension Plan: ($ in thousands) 2018 2017 Accumulated other comprehensive loss at beginning of fiscal year $ (2,909 ) (3,692 ) Net gain (loss) arising during period (143 ) 1,686 Amortization of unrecognized actuarial loss 34 244 Tax (expense) benefit of changes during the year, net (73 ) (711 ) Accumulated other comprehensive gain (loss) (3,091 ) (2,473 ) Reclassification from AOCI to Retained Earnings due to statutory tax changes — (436 ) Accumulated other comprehensive gain (loss) at end of fiscal year $ (3,091 ) (2,909 ) The following table reconciles the beginning and ending balances of the prepaid pension cost related to the Pension Plan: ($ in thousands) 2018 2017 Prepaid pension cost as of beginning of fiscal year $ 7,082 5,965 Net periodic pension income (cost) for fiscal year (231 ) 1,117 Actual employer contributions — — Prepaid pension asset as of end of fiscal year $ 6,851 7,082 Net pension (income) cost for the Pension Plan included the following components for the years ended December 31, 2018, 2017, and 2016: ($ in thousands) 2018 2017 2016 Service cost – benefits earned during the period $ — — — Interest cost on projected benefit obligation 1,312 1,449 1,502 Expected return on plan assets (1,115 ) (2,810 ) (2,698 ) Net amortization and deferral 34 244 238 Net periodic pension (income) cost $ 231 (1,117 ) (958 ) 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. ($ in thousands) Estimated Year ending December 31, 2019 $ 1,735 Year ending December 31, 2020 1,792 Year ending December 31, 2021 1,898 Year ending December 31, 2022 1,957 Year ending December 31, 2023 2,000 Years ending December 31, 2024-2028 10,582 The investment objective of the Company’s Pension Plan is to ensure that there are sufficient assets to fund regular pension benefits payable to employees over the long-term life of the plan. The Plan seeks to allocate plan assets in a manner that is closely duration-matched with the actuarial projected cash flows of the Plan liabilities, consistent with prudent standards for preservation of capital, tolerance of investment risk, and maintenance of liquidity. Assets of the Plan are held by Fidelity Investments (the “Trustee”). In 2018, the Plan adopted a liability-driven investment (“LDI”) approach to help meet these objectives. The LDI strategy employs a structured fixed-income portfolio designed to reduce volatility in the Plan’s future funding requirements and funding status. This is accomplished by using a blend of high quality corporate and government fixed-income securities, with both intermediate and long-term durations. Generally, the value of these fixed income securities is inversely correlated to changes in market interest rates, which substantially offsets changes in the value of the pension benefit obligation caused by changes in the interest rate used to discount plan liabilities. In the fourth quarter 2017, in anticipation of anticipated changes in investment objectives, the Company liquidated all investments and shifted the assets into a money market fund. The fair values of the Company’s pension plan assets at December 31, 2018, by asset category, were as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Cash and cash equivalents $ 267 267 — — Investment funds Fixed income funds 38,903 — 38,903 — Total $ 39,170 267 38,903 — The fair values of the Company’s pension plan assets at December 31, 2017, by asset category, were as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Cash and cash equivalents (money market fund) $ 41,306 — 41,306 — Total $ 41,306 — 41,306 — 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, 2018 and 2017. - Cash and cash equivalents (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. - Fixed income funds consist of commingled funds that primarily include investments in U.S. government securities and corporate bonds. The commingled funds also include an insignificant portion of investments in other asset-based securities, municipal securities, etc. The commingled funds are valued at the NAV for the units in the fund. The NAV, as provided by the Trustee, is used as practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund. 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) 2018 2017 2016 Change in benefit obligation Projected benefit obligation at beginning of year $ 5,970 5,910 5,778 Service cost 124 118 106 Interest cost 200 227 238 Actuarial (gain) loss (102 ) 85 145 Benefits paid (398 ) (370 ) (357 ) Projected benefit obligation at end of year 5,794 5,970 5,910 Plan assets — — — Funded status at end of year $ 5,794 (5,970 ) (5,910 ) The accumulated benefit obligation related to the SERP was $5,794,000, $5,970,000, and $5,910,000 at December 31, 2018, 2017, and 2016, respectively. The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 as it relates to the SERP, excluding the related deferred tax assets. ($ in thousands) 2018 2017 Other assets – prepaid pension asset (liability) $ (6,608 ) (6,695 ) Other assets (liabilities) 814 725 $ (5,794 ) (5,970 ) The following table presents information regarding the amounts recognized in AOCI at December 31, 2018 and 2017, as it relates to the SERP: ($ in thousands) 2018 2017 Net gain (loss) $ 814 725 Prior service cost — — Amount recognized in AOCI before tax effect 814 725 Tax (expense) benefit (190 ) (268 ) Net amount recognized as increase (decrease) to AOCI $ 624 457 The following table reconciles the beginning and ending balances of AOCI at December 31, 2018 and 2017, as it relates to the SERP: ($ in thousands) 2018 2017 Accumulated other comprehensive income at beginning of fiscal year $ 457 533 Net gain (loss) arising during period 102 (85 ) Prior service cost — — Amortization of unrecognized actuarial loss (13 ) (34 ) Amortization of prior service cost and transition obligation — — Tax benefit (expense) related to changes during the year, net 78 43 Accumulated other comprehensive income (loss) at end of fiscal year $ 624 457 The following table reconciles the beginning and ending balances of the prepaid pension cost related to the SERP: ($ in thousands) 2018 2017 Prepaid pension cost (liability) as of beginning of fiscal year $ (6,695 ) (6,754 ) Net periodic pension cost for fiscal year (311 ) (311 ) Benefits paid 398 370 Prepaid pension cost (liability) as of end of fiscal year $ (6,608 ) (6,695 ) Net pension cost for the SERP included the following components for the years ended December 31, 2018, 2017, and 2016: ($ in thousands) 2018 2017 2016 Service cost – benefits earned during the period $ 124 118 106 Interest cost on projected benefit obligation 200 227 238 Net amortization and deferral (13 ) (34 ) (35 ) Net periodic pension cost $ 311 311 309 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, 2019 $ 411 Year ending December 31, 2020 408 Year ending December 31, 2021 401 Year ending December 31, 2022 391 Year ending December 31, 2023 380 Years ending December 31, 2024-2028 1,970 Assumptions used in both Plans The following assumptions were used in determining the actuarial information for the Pension Plan and the SERP for the years ended December 31, 2018, 2017, and 2016: 2018 2017 2016 Pension SERP Pension SERP Pension SERP Discount rate used to determine net periodic pension cost 3.46% 3.46% 3.97% 3.97% 4.17% 4.17% Discount rate used to calculate end of year liability disclosures 4.08% 3.92% 3.46% 3.46% 3.97% 3.97% Expected long-term rate of return on assets 2.75% 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. For each of the years ended December 31, 2017 and 2016, 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) could be expected to return approximately 7.75% on a long term basis. As discussed previously, in 2018, the Company changed investment strategies, which resulted in the expected return on assets being adjusted to 2.75% for the year.

Commitments, Contingencies, and

Commitments, Contingencies, and Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2018
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, 2018. ($ in thousands) Type of Commitment Fixed Rate Variable Rate Total Outstanding closed-end loan commitments $ 209,726 460,377 670,103 Unfunded commitments on revolving lines of credit, credit cards and home equity loans 149,898 468,793 618,691 Total $ 359,624 929,170 1,288,794 At December 31, 2018 and 2017, the Company had $15.7 million and $15.2 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 stand-alone obligation 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 minimal amount of 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 Alamance, Beaufort, Bladen, Brunswick, Buncombe, Cabarrus, Carteret, Chatham, Columbus, Cumberland, Dare, Davidson, Duplin, Forsyth, Guilford, Harnett, Henderson, 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 Bank 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, 2018 of securities to any one issuer/guarantor that exceed $5.0 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 $ 191,839 186,735 Ginnie Mae – mortgage-backed securities 127,358 123,593 Freddie Mac – mortgage-backed securities 98,608 95,285 Federal Home Loan Bank System - bonds 70,495 70,421 Small Business Administration securities 26,878 25,977 Federal Home Loan Bank of Atlanta - common stock 20,036 20,036 Federal Reserve Bank - common stock 17,432 17,432 Bank of America corporate bonds 7,000 6,879 Citigroup, Inc. corporate bonds 6,028 5,921 Goldman Sachs Group Inc. corporate bond 5,073 4,937 JP Morgan Chase corporate bond 5,018 4,904 Federal Farm Credit Bank – bond 5,000 4,921 Fannie Mae – bond 5,000 4,871 The Company primarily places its deposits and correspondent accounts with the Federal Home Loan Bank of Atlanta, the FRB, and Pacific Coast Bankers Bank (“PCBB”). At December 31, 2018, the Company had deposits in the Federal Home Loan Bank of Atlanta totaling $135.4 million, deposits of $246.2 million in the Federal Reserve Bank, and deposits of $0.2 million in PCBB. 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 are FDIC-insured up to $250,000.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
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, 2018. ($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 82,662 — 82,662 — Mortgage-backed securities 385,551 — 385,551 — Corporate bonds 33,138 — 33,138 — Total available for sale securities $ 501,351 — 501,351 — Nonrecurring Impaired loans $ 13,071 — — 13,071 Foreclosed real estate 7,440 — — 7,440 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 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, 2018, 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 $ 13,071 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 7,440 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, 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% 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, 2018 or 2017. For the year ended December 31, 2018, the decrease in the fair value of securities available for sale was $10,179,000, and for the year ended December 31, 2017, the increase in the fair value of securities available for sale was $639,000, which is included in other comprehensive income (net of tax benefit of $2,379,000 and tax expense of $234,000, for 2018 and 2017, respectively). Fair value measurement methods at December 31, 2018 and 2017 are consistent with those used in prior reporting periods. As discussed in Note 1(r), the Company is required to disclose estimated fair values for its financial instruments. Fair value estimates as of December 31, 2018 and 2017 and limitations thereon are set forth below for the Company’s financial instruments. See Note 1(r) for a discussion of fair value methods and assumptions, as well as fair value information for off-balance sheet financial instruments. December 31, 2018 December 31, 2017 ($ in thousands) Level in Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 56,050 56,050 114,301 114,301 Due from banks, interest-bearing Level 1 406,848 406,848 375,189 375,189 Securities available for sale Level 2 501,351 501,351 343,270 343,270 Securities held to maturity Level 2 101,237 99,906 118,503 118,998 Presold mortgages in process of settlement Level 1 4,279 4,279 12,459 12,459 Total loans, net of allowance Level 3 4,228,025 4,181,139 4,019,071 4,010,551 Accrued interest receivable Level 1 16,004 16,004 14,094 14,094 Bank-owned life insurance Level 1 101,878 101,878 99,162 99,162 SBA Servicing Asset Level 3 4,419 4,617 1,987 1,987 Deposits Level 2 4,659,339 4,653,522 4,406,955 4,401,757 Borrowings Level 2 406,609 402,556 407,543 397,903 Accrued interest payable Level 2 1,976 1,976 1,235 1,235 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, 2018
Equity-Based Compensation Plans [Abstract]
Equity-Based Compensation Plans	Note 15. Equity-Based Compensation Plans The Company recorded total stock-based compensation expense of $1,569,000, $1,095,000 and $714,000 for the years ended December 31, 2018, 2017, and 2016, respectively. Of the $1,569,000 in expense that was recorded in 2018, approximately $352,000 related to the June 1, 2018 director grants discussed below, and is classified as “other operating expenses” in the Consolidated Statements of Income. The remaining $1,217,000 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 $367,000, $405,000, and $264,000 of income tax benefits related to stock based compensation expense in the income statement for the years ended December 31, 2018, 2017, and 2016, respectively. At December 31, 2018, 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 each plan. The First Bancorp 2014 Equity Plan became effective upon the approval of shareholders on May 8, 2014. As of December 31, 2018, the First Bancorp 2014 Equity Plan was the only plan that had shares available for future grants, and there were 750,707 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 have been restricted stock with service vesting conditions only. Compensation expense for these grants is recorded over the requisite service periods. No compensation cost is recognized for grants that do not vest and any previously recognized compensation cost is reversed at forfeiture. The Company issues new shares of common stock when options are exercised. Certain of the Company’s equity 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 with service conditions only will vest. As it relates to director equity grants, the Company typically grants shares of common stock to each non-employee director (currently 11 in total) in June of each year. On June 1, 2018, the Company granted 8,393 shares of common stock to non-employee directors (763 shares per director), at a fair market value of $41.93 per share, which was the closing price of the Company’s common stock on that date, which resulted in $352,000 in expense. 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. 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 54,529 shares of restricted stock have been granted related to performance in the preceding fiscal years (net of an immaterial amount of forfeitures). Total compensation expense associated with those grants was $1,410,000 and is being recognized over the respective vesting periods. The Company recorded $293,000, $282,000 and $220,000, for the years ended December 31, 2018, 2017 and 2016, respectively. In the last three years, the Compensation Committee of the Company’s Board of Directors also granted 117,704 shares of stock to various employees of the Company to promote retention. The total value associated with these grants amounted to $3,621,000, and is being recorded as expense over their three year vesting periods. For 2018, 2017, and 2016, total compensation expense related to these grants was $924,000, $491,000, and $366,000, 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 $1,218,000 in stock-based compensation expense in 2019. The following table presents information regarding the activity during 2016, 2017, and 2018 related to the Company’s outstanding restricted stock: Long-Term Restricted Stock Nonvested at January 1, 2016 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 (28,514 ) 20.05 Forfeited or expired during the period (8,535 ) 18.34 Nonvested at December 31, 2017 103,063 $ 24.08 Granted during the period 66,060 40.04 Vested during the period (35,703 ) 22.82 Forfeited or expired during the period (4,169 ) 29.99 Nonvested at December 31, 2018 129,251 $ 32.39 In years prior to 2010, 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, 2018, there were 9,000 stock options outstanding related to the Company’s two equity-based plans, all with an exercise price of $14.35 and an exercise date of June 1, 2019. The following table presents information regarding the activity since January 1, 2016 related to all of the Company’s stock options outstanding: Options Outstanding Number of Weighted- Weighted- Aggregate Balance at January 1, 2016 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 — — Balance at December 31, 2017 38,689 $ 16.09 Granted — — Exercised (29,689 ) 16.61 $ 659,743 Forfeited — — Expired — — Outstanding at December 31, 2018 9,000 $ 14.53 0.42 $ 163,038 Exercisable at December 31, 2018 9,000 $ 14.53 0.42 $ 163,038 In 2018, 2017 and 2016, the Company received $324,000, $287,000 and $375,000, respectively, as a result of stock option exercises.

Regulatory Restrictions

Regulatory Restrictions	12 Months Ended
	Dec. 31, 2018
Regulatory Restrictions [Abstract]
Regulatory Restrictions	Note 16. Regulatory Restrictions The Company is regulated by the Board of Governors of the 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, 2018, approximately $582,000,000 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 $3,553,000 for the year ended December 31, 2018. 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, 2018 was 1.875%. As of December 31, 2018, 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, 2018 and 2017 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, 2018 Common Equity Tier I Capital Ratio Company $ 535,566 12.28% $ 305,287 7.00% $ N/A N/A Bank 586,053 13.44% 305,163 7.00% 283,366 6.50% Total Capital Ratio Company 609,428 13.97% 457,930 10.50% N/A N/A Bank 607,717 13.94% 457,745 10.50% 435,948 10.00% Tier I Capital Ratio Company 587,764 13.48% 370,705 8.50% N/A N/A Bank 586,053 13.44% 370,555 8.50% 348,758 8.00% Leverage Ratio Company 587,764 10.47% 224,014 4.00% N/A N/A Bank 586,053 10.45% 224,406 4.00% 280,508 5.00% 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%

Supplementary Income Statement

Supplementary Income Statement Information	12 Months Ended
	Dec. 31, 2018
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, 2018, 2017, and 2016 are as follows: ($ in thousands) 2018 2017 2016 Other service charges, commissions, and fees – debit card interchange income $ 10,466 7,732 6,564 Other service charges, commissions, and fees – other interchange income 4,140 3,722 3,018 Other operating expenses – dues and subscriptions (includes software subscriptions) 3,431 1,889 1,604 Other operating expenses – credit/debit card processing expense 3,411 2,797 2,296 Other operating expenses – data processing expense 3,234 2,910 2,010 Other operating expenses – marketing 3,065 2,549 1,999 Other operating expenses – telephone and data line expense 3,024 2,470 2,311 Other operating expenses – stationery and supplies 2,582 2,399 2,066 Other operating expenses – FDIC insurance expense 2,333 2,350 2,009 Other operating expenses – outside consultants 1,820 2,511 1,700 Other operating expenses – repossession and collection 1,366 1,736 1,842

Condensed Parent Company Inform

Condensed Parent Company Information	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information 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) 2018 2017 Assets Cash on deposit with bank subsidiary $ 5,544 4,535 Investment in wholly-owned subsidiaries, at equity 816,648 745,669 Premises and Equipment 7 7 Other assets — — Total assets 822,199 750,211 Liabilities and shareholders’ equity Trust preferred securities 53,902 53,758 Other liabilities 4,067 3,474 Total liabilities 57,969 57,232 Shareholders’ equity 764,230 692,979 Total liabilities and shareholders’ equity $ 822,199 750,211 CONDENSED STATEMENTS OF INCOME Year Ended December 31, ($ in thousands) 2018 2017 2016 Dividends from wholly-owned subsidiaries $ 15,525 52,732 9,000 Earnings of wholly-owned subsidiaries, net of dividends 77,050 (4,793 ) 20,517 Interest expense (2,498 ) (1,867 ) (1,216 ) All other income and expenses, net (788 ) (100 ) (792 ) Net income 89,289 45,972 27,509 Preferred stock dividends — — (175 ) Net income available to common shareholders $ 89,289 45,972 27,334 CONDENSED STATEMENTS OF CASH FLOWS Year Ended December 31, ($ in thousands) 2018 2017 2016 Operating Activities: Net income $ 89,289 45,972 27,509 Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries) (77,050 ) 4,793 (20,517 ) Decrease (increase) in other assets (13 ) 283 15 Increase (decrease) in other liabilities 146 (67 ) 130 Total – operating activities 12,372 50,981 7,137 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 (11,281 ) (7,596 ) (6,632 ) Proceeds from issuance of common stock 324 287 375 Stock withheld for payment of taxes (406 ) (231 ) (166 ) Total - financing activities (11,363 ) (7,540 ) (6,423 ) Net increase (decrease) in cash 1,009 5 714 Cash, beginning of year 4,535 4,530 3,816 Cash, end of year $ 5,544 4,535 4,530

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Small Business Lending Fund [Member]
Stockholders' Equity	Note 19. Shareholders’ Equity 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 in preferred dividend payments for the Series C Preferred Stock during 2016. Rabbi Trust Obligation With the acquisition of Carolina Bank in March 2017, the Company assumed a deferred compensation plan for certain members of Carolina Bank’s board of directors that is fully funded by Company stock, which was valued at $7.7 million on the date of acquisition. Subsequent to the acquisition in 2017, approximately $4.5 million of the deferred compensation has been paid to the plan participants. The balances of the related asset and liability were each $3.2 million at December 31, 2018, both of which are presented as components of shareholders’ equity.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2018
Book values and approximate fair values of investment securities
Revenue from Contracts with Customers	Note 20. Revenue from Contracts with Customers All of the Company’s revenues that are in the scope of the “ Revenue from Contracts with Customers For the Years Ended December 31, ($ in thousands) 2018 2017 2016 Service charges on deposit accounts $ 12,690 11,862 10,571 Other service charges, commissions, and fees: Interchange income 14,606 11,454 9,582 Other fees 5,339 3,156 2,331 Fees from presold mortgage loans (1) 2,735 5,695 2,033 Commissions from sales of insurance and financial products: Insurance income 6,038 3,148 1,763 Wealth management income 2,693 2,152 2,027 SBA consulting fees 4,675 4,024 3,199 SBA loan sale gains (1) 10,366 5,479 1,433 Bank-owned life insurance income (1) 2,534 2,321 2,052 Foreclosed property gains (losses), net (565 ) (531 ) (625 ) FDIC indemnification asset income (expense), net (1) — — (10,255 ) Securities gains (losses), net (1) — (235 ) 3 Gain on branch sale (1) — — 1,466 Other gains (losses), net (1) 723 383 (29 ) Total noninterest income $ 61,834 48,908 25,551 (1) Not within the scope of ASC 606. A description of the Company’s revenue streams accounted for under ASC 606 is detailed below. Service Charges on Deposit Accounts: Other service charges, commissions, and fees: Commissions from the sale of insurance and financial products: Insurance income generally consists of commissions from the sale of insurance policies and performance-based commissions from insurance companies. The Company recognizes commission income from the sale of insurance policies when it acts as an agent between the insurance company and the policyholder. The Company’s performance obligation is generally satisfied upon the issuance of the insurance policy. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. Performance-based commissions from insurance companies are recognized at a point in time as policies are sold. Wealth Management Income primarily consists of commissions received on financial product sales, such as annuities. The Company’s performance obligation is generally satisfied upon the issuance of the financial product. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. The Company also earns some fees from asset management, which is billed quarterly for services rendered in the most recent period, for which the performance obligation has been satisfied. SBA Consulting fees: Foreclosed property gains (losses), net: The Company has made no significant judgments in applying the revenue guidance prescribed in ASC 606 that affect the determination of the amount and timing of revenue from the above-described contracts with customers.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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 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 2018 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 substantially 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.
SBA Loan Originations	(i) SBA Loan Originations 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, 2018 or 2017.
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, 2018 and 2017, the Company’s investments in limited partnerships, LLCs and other privately held companies totaled $7.5 million and $5.3 million, respectively, and were included in other assets.
Stock Option Plan	(p) Stock Option Plan - At December 31, 2018, 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, 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 contingently issuable shares, the number of shares that are included in the calculation of dilutive securities is based on the number of shares that are issuable if the end of the reporting period were the end of the contingency period. 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 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, 2018 2017 2016 ($ in thousands, Income Shares Per Income Shares Per Income Shares Per Basic EPS Net income available to common shareholders $ 89,289 29,566,259 $ 3.02 $ 45,972 25,210,606 $ 1.82 $ 27,334 19,964,727 $ 1.37 Effect of dilutive securities — 141,172 — 80,776 175 768,190 Diluted EPS per common share $ 89,289 29,707,431 $ 3.01 $ 45,972 25,291,382 $ 1.82 $ 27,509 20,732,917 $ 1.33 For the years ended December 31, 2018 and 2017, there were no options that were anti-dilutive. For the year ended December 31, 2016, there were 5,000 options 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 determined assuming the sale of the notes to a third-party financial investor. 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 with a liquidity discount offered on loans with similar risk characteristics, and includes the Company’s estimate of future credit losses expected to be incurred over the life of the loan. 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. SBA Servicing Asset – The fair value of the Company’s SBA servicing asset is estimated based on the present value of the discounted cash flows of the expected servicing income less the estimated cost to service the loans. 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, 2018 and 2017, 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.
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 $ (12,390 ) (2,211 ) (3,085 ) Deferred tax asset (liability) 2,896 517 1,138 Net unrealized gain (loss) on securities available for sale (9,494 ) (1,694 ) (1,947 ) Additional pension asset (liability) (3,220 ) (3,200 ) (5,012 ) Deferred tax asset (liability) 753 748 1,852 Net additional pension asset (liability) (2,467 ) (2,452 ) (3,160 ) Total accumulated other comprehensive income (loss) $ (11,961 ) (4,146 ) (5,107 ) The following table discloses the changes in accumulated other comprehensive income (loss) for the years ended December 31, 2018, 2017, and 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 ) 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 ) Other comprehensive income (loss) before reclassifications (7,800 ) (31 ) (7,831 ) Amounts reclassified from accumulated other comprehensive income — 16 16 Net current-period other comprehensive income (loss) (7,800 ) (15 ) (7,815 ) Ending balance at December 31, 2018 $ (9,494 ) (2,467 ) (11,961 )
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 - Accounting Standards Adopted in 2018 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’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 were not affected. The guidance was effective for the Company on January 1, 2018 and the Company adopted the guidance using the modified retrospective method. The adoption did not have a material effect on the Company’s financial statements. See Note 20 for additional information on this matter. 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 were effective for the Company on January 1, 2018 and the adoption of the guidance did not 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 were effective for the Company on January 1, 2018 and did not 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 were effective for the Company on January 1, 2018 and did not have a material effect on its financial statements. The Company presents the service cost component within the “Employee benefits” line item and the other components of net periodic pension costs are presented within the “Other operating expenses” line item. The Company has reclassified amounts in the Consolidated Statements of Income for the years ended December 31, 2017 and December 31, 2016 to be consistent with the presentation required for December 31, 2018. In February 2018, the FASB issued guidance related to the Income Statement – Reporting Comprehensive Income topic of the Accounting Standards Codification, 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, and reclassified $0.7 million between Accumulated Other Comprehensive Income and Retained Earnings. Accounting Standards Pending Adoption 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 currently expects that the adoption of the guidance will have no impact on net income and will result in the recording of approximately $18 million of additional assets and liabilities. Accordingly, the Company does not expect these amendments to have a material effect on its financial statements or regulatory capital position. 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 guidance 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 continues its ongoing analysis on the impact of this guidance on its consolidated financial statements. As required by the guidance, the initial adjustment will be recorded by decreasing shareholders’ equity and not through an earnings adjustment. All subsequent adjustments will be recorded in earnings. In January 2017, the FASB 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 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 June 2018, the FASB amended the Compensation—Stock Compensation Topic of the Accounting Standards Codification. The amendments expand the scope of this Topic to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted, but no earlier than an entity’s adoption date of the Revenue from Contracts with Customers Topic. The Company does not expect these amendments to have a material effect on its financial statements. In August 2018, the FASB amended the Fair Value Measurement Topic of the Accounting Standards Codification. The amendments remove, modify, and add certain fair value disclosure requirements based on the concepts in the FASB Concepts Statement, Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements In August 2018, the FASB amended the Compensation - Retirement Benefits – Defined Benefit Plans Topic of the Accounting Standards Codification to improve disclosure requirements for employers that sponsor defined benefit pension and other postretirement plans. The guidance removes disclosures that are no longer considered cost-beneficial, clarifies the specific requirements of disclosures, and adds disclosure requirements identified as relevant. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 2017 2016 ($ in thousands, Income Shares Per Income Shares Per Income Shares Per Basic EPS Net income available to common shareholders $ 89,289 29,566,259 $ 3.02 $ 45,972 25,210,606 $ 1.82 $ 27,334 19,964,727 $ 1.37 Effect of dilutive securities — 141,172 — 80,776 175 768,190 Diluted EPS per common share $ 89,289 29,707,431 $ 3.01 $ 45,972 25,291,382 $ 1.82 $ 27,509 20,732,917 $ 1.33
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 $ (12,390 ) (2,211 ) (3,085 ) Deferred tax asset (liability) 2,896 517 1,138 Net unrealized gain (loss) on securities available for sale (9,494 ) (1,694 ) (1,947 ) Additional pension asset (liability) (3,220 ) (3,200 ) (5,012 ) Deferred tax asset (liability) 753 748 1,852 Net additional pension asset (liability) (2,467 ) (2,452 ) (3,160 ) Total accumulated other comprehensive income (loss) $ (11,961 ) (4,146 ) (5,107 )
Schedule of changes in accumulated other comprehensive income (loss)	The following table discloses the changes in accumulated other comprehensive income (loss) for the years ended December 31, 2018, 2017, and 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 ) 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 ) Other comprehensive income (loss) before reclassifications (7,800 ) (31 ) (7,831 ) Amounts reclassified from accumulated other comprehensive income — 16 16 Net current-period other comprehensive income (loss) (7,800 ) (15 ) (7,815 ) Ending balance at December 31, 2018 $ (9,494 ) (2,467 ) (11,961 )

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2018
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 was able to change its valuations of acquired Carolina Bank assets and liabilities for up to one year after the acquisition date by recording measurement period adjustments. 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 $66.5 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ 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) 757 (n) 30,929 Total 683,852 5,536 584 689,972 Liabilities Deposits $ 584,950 431 (i) — 585,381 Borrowings 21,855 (2,855 ) (j) (262 ) (o) 18,738 Other 12,855 225 (k) (444 ) (p) 12,636 Total 619,660 (2,199 ) (706 ) 616,755 Net identifiable assets acquired 73,217 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 $ 66,540 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 is being 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 securities was less than the current interest rate on similar instruments. This amount is being 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 based on newly obtained valuations. (o) This fair value adjustment relates to miscellaneous adjustments to decrease the initial fair value of borrowings. (p) This fair value adjustment related to a change in the estimate of a contingent liability.
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. ($ in thousands, except share data) 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 was able to change its valuations of acquired Asheville Savings Bank assets and liabilities for up to one year after the acquisition date by recording measurement period adjustments. 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 $88.7 million in goodwill that resulted from this transaction is non-deductible for tax purposes. ($ 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) 120 (i) 9,880 Other 35,944 (5,851 ) (f) (777 ) (j) 29,316 Total 797,744 9,472 (657 ) 806,559 Liabilities Deposits $ 678,707 430 (g) — 679,137 Borrowings 20,000 — — 20,000 Other 8,943 298 (h) (380 ) (k) 8,861 Total 707,650 728 (380 ) 707,998 Net identifiable assets acquired 98,561 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 $ 88,677 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 impaired 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 is being 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 is being 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. (i) This fair value adjustment relates to a change in the final amount of the core deposit intangible asset from the amount originally estimated. (j) This fair value adjustment relates to the write-down of a foreclosed property based on an updated appraisal and the related tax deferred tax asset adjustment. (k) This fair value adjustment was recorded to adjust the tax liability assumed on the acquisition date based on updated information.
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, 2018
Securities [Abstract]
Book values and approximate fair values of investment securities	The book values and approximate fair values of investment securities at December 31, 2018 and 2017 are summarized as follows: 2018 2017 Amortized Fair Unrealized Amortized Fair Unrealized ($ in thousands) Cost Value Gains (Losses) Cost Value Gains (Losses) Securities available for sale: Government-sponsored enterprise securities $ 82,995 82,662 63 (396 ) 14,000 13,867 — (133 ) Mortgage-backed securities 396,995 385,551 39 (11,483 ) 297,690 295,213 246 (2,722 ) Corporate bonds 33,751 33,138 76 (689 ) 33,792 34,190 512 (114 ) Total available for sale 513,741 501,351 178 (12,568 ) 345,482 343,270 758 (2,969 ) Securities held to maturity: Mortgage-backed securities 52,048 50,241 — (1,807 ) 63,829 63,092 — (737 ) State and local governments 49,189 49,665 525 (49 ) 54,674 55,906 1,280 (48 ) Total held to maturity $ 101,237 99,906 525 (1,856 ) 118,503 118,998 1,280 (785 )
Schedule of information regarding securities with unrealized losses	The following table presents information regarding securities with unrealized losses at December 31, 2018: ($ in thousands) Securities in an Unrealized Securities in an Unrealized Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Government-sponsored enterprise securities $ 4,921 78 13,682 318 18,603 396 Mortgage-backed securities 82,525 351 294,305 12,939 376,830 13,290 Corporate bonds 20,704 433 5,817 256 26,521 689 State and local governments 595 1 6,641 48 7,236 49 Total temporarily impaired securities $ 108,745 863 320,445 13,561 429,190 14,424 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
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, 2018, 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 $ — — $ 2,233 2,240 Due after one year but within five years 109,205 108,303 28,488 28,766 Due after five years but within ten years 2,541 2,559 16,743 16,932 Due after ten years 5,000 4,938 1,725 1,727 Mortgage-backed securities 396,995 385,551 52,048 50,241 Total securities $ 513,741 501,351 $ 101,237 99,906

Loans and Asset Quality Infor_2

Loans and Asset Quality Information (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 December 31, 2017 Amount Percentage Amount Percentage All loans: Commercial, financial, and agricultural $ 457,037 11% $ 381,130 10% Real estate – construction, land development & other land loans 518,976 12% 539,020 13% Real estate – mortgage – residential (1-4 family) first mortgages 1,054,176 25% 972,772 24% Real estate – mortgage – home equity loans / lines of credit 359,162 8% 379,978 9% Real estate – mortgage – commercial and other 1,787,022 42% 1,696,107 42% Installment loans to individuals 71,392 2% 74,348 2% Subtotal 4,247,765 100% 4,043,355 100% Unamortized net deferred loan costs (fees) 1,299 (986 ) Total loans $ 4,249,064 $ 4,042,369
Schedule of activity in purchased credit impaired loans	The following table presents changes in the carrying value of PCI loans. ($ in thousands) For the Year For the Year Balance at beginning of period $ 23,165 514 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 (5,799 ) (6,016 ) Change due to loan charge-offs (10 ) (12 ) Transfers to foreclosed real estate (4 ) (69 ) Other 41 (392 ) Balance at end of period $ 17,393 23,165 The following table presents changes in the accretable yield for PCI loans. ($ in thousands) For the Year For the Year Balance at beginning of period $ 4,688 — Additions due to acquisition of Carolina Bank — 3,617 Additions due to acquisition of Asheville Savings Bank — 1,804 Accretion (2,050 ) (1,846 ) Reclassification from (to) nonaccretable difference 849 423 Other, net 1,263 690 Balance at end of period $ 4,750 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, and foreclosed real estate. Nonperforming assets are summarized as follows: ASSET QUALITY DATA ($ in thousands) December 31, December 31, Nonperforming assets Nonaccrual loans $ 22,575 20,968 Restructured loans - accruing 13,418 19,834 Accruing loans > 90 days past due — — Total nonperforming loans 35,993 40,802 Foreclosed real estate 7,440 12,571 Total nonperforming assets $ 43,433 53,373 Purchased credit impaired loans not included above (1) $ 17,393 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 and $0.6 million in PCI loans at December 31, 2018 and 2017, respectively, that are contractually past due 90 days or more.
Schedule of nonaccrual loans	The following is a summary the Company’s nonaccrual loans by major categories. ($ in thousands) December 31, December 31, Commercial, financial, and agricultural $ 919 1,001 Real estate – construction, land development & other land loans 2,265 1,822 Real estate – mortgage – residential (1-4 family) first mortgages 10,115 12,201 Real estate – mortgage – home equity loans / lines of credit 1,685 2,524 Real estate – mortgage – commercial and other 7,452 3,345 Installment loans to individuals 139 75 Total $ 22,575 20,968
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, 2018. ($ in thousands) Accruing Accruing 60- Accruing 90 Nonaccrual Accruing Total Loans Commercial, financial, and agricultural $ 191 5 — 919 455,692 456,807 Real estate – construction, land development & other land loans 849 212 — 2,265 515,472 518,798 Real estate – mortgage – residential (1-4 family) first mortgages 14,178 1,369 — 10,115 1,022,261 1,047,923 Real estate – mortgage – home equity loans / lines of credit 1,048 254 — 1,685 355,831 358,818 Real estate – mortgage – commercial and other 709 520 — 7,452 1,768,205 1,776,886 Installment loans to individuals 359 220 — 139 70,422 71,140 Purchased credit impaired 990 138 583 — 15,682 17,393 Total $ 18,324 2,718 583 22,575 4,203,565 4,247,765 Unamortized net deferred loan costs 1,299 Total loans $ 4,249,064 The following table presents an analysis of the payment status of the Company’s loans as of December 31, 2017. ($ in thousands) Accruing Accruing 60- 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
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, 2018. ($ in thousands) Commercial, Real Estate – Real Estate – Real Estate Real Estate Install- Unallo- Total As of and for the year ended December 31, 2018 Beginning balance $ 3,111 2,816 6,147 1,827 6,475 950 1,972 23,298 Charge-offs (2,128 ) (158 ) (1,734 ) (711 ) (1,459 ) (781 ) — (6,971 ) Recoveries 1,195 4,097 833 364 1,503 309 — 8,301 Provisions 711 (4,512 ) (49 ) 185 1,464 474 (1,862 ) (3,589 ) Ending balance $ 2,889 2,243 5,197 1,665 7,983 952 110 21,039 Ending balances as of December 31, 2018: Allowance for loan losses Individually evaluated for impairment $ 226 134 955 48 906 — — 2,269 Collectively evaluated for impairment $ 2,661 2,109 4,143 1,608 7,070 941 110 18,642 Purchased credit impaired $ 2 — 99 9 7 11 — 128 Loans receivable as of December 31, 2018: Ending balance – total $ 457,037 518,976 1,054,176 359,162 1,787,022 71,392 — 4,247,765 Unamortized net deferred loan costs 1,299 Total loans $ 4,249,064 Ending balances as of December 31, 2018: Loans Individually evaluated for impairment $ 696 1,345 12,391 296 9,525 — — 24,253 Collectively evaluated for impairment $ 456,111 517,453 1,035,532 358,522 1,767,361 71,140 — 4,206,119 Purchased credit impaired $ 230 178 6,253 344 10,136 252 — 17,393 The following table presents the activity in the allowance for loan losses for the year ended December 31, 2017. ($ in thousands) Commercial, Real Estate – Real Estate – Real Estate Real Estate Install- 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 were 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, 2018. ($ in thousands) Recorded Unpaid Related Average Impaired loans with no related allowance recorded: Commercial, financial, and agricultural $ 310 310 — 957 Real estate – mortgage – construction, land development & other land loans 485 803 — 2,366 Real estate – mortgage – residential (1-4 family) first mortgages 4,626 4,948 — 4,804 Real estate – mortgage –home equity loans / lines of credit 22 31 — 91 Real estate – mortgage –commercial and other 3,475 4,237 — 3,670 Installment loans to individuals — — — — Total impaired loans with no allowance $ 8,918 10,329 — 11,888 Impaired loans with an allowance recorded: Commercial, financial, and agricultural $ 386 387 226 422 Real estate – mortgage – construction, land development & other land loans 860 864 134 385 Real estate – mortgage – residential (1-4 family) first mortgages 7,765 7,904 955 8,963 Real estate – mortgage –home equity loans / lines of credit 274 275 48 184 Real estate – mortgage –commercial and other 6,050 6,054 906 5,911 Installment loans to individuals — — — 2 Total impaired loans with allowance $ 15,335 15,484 2,269 15,867 Interest income recorded on impaired loans during the year ended December 31, 2018 was insignificant. 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
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, 2018. ($ in thousands) Pass Special Mention Classified Classified Total Commercial, financial, and agricultural $ 452,373 3,056 459 919 456,807 Real estate – construction, land development & other land loans 509,251 5,668 1,614 2,265 518,798 Real estate – mortgage – residential (1-4 family) first mortgages 1,004,457 12,238 21,113 10,115 1,047,923 Real estate – mortgage – home equity loans / lines of credit 348,792 1,688 6,653 1,685 358,818 Real estate – mortgage – commercial and other 1,750,810 14,484 4,140 7,452 1,776,886 Installment loans to individuals 70,357 231 413 139 71,140 Purchased credit impaired 8,355 5,214 3,824 — 17,393 Total $ 4,144,395 42,579 38,216 22,575 4,247,765 Unamortized net deferred loan costs 1,299 Total loans 4,249,064 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
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, 2018 and 2017. ($ in thousands) For the year ended For the year ended Number of Pre- Post- Number of Pre- Post- TDRs – Accruing Commercial, financial, and agricultural — $ — $ — — $ — $ — Real estate – construction, land development & other land loans — — — — — — Real estate – mortgage – residential (1-4 family) first mortgages 2 254 273 — — — Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — 6 4,120 4,095 Installment loans to individuals — — — — — — TDRs – Nonaccrual Commercial, financial, and agricultural — — — 1 38 25 Real estate – construction, land development & other land loans 1 61 61 1 32 32 Real estate – mortgage – residential (1-4 family) first mortgages 3 340 350 2 262 262 Real estate – mortgage – home equity loans / lines of credit — — — — — — Real estate – mortgage – commercial and other — — — — — — Installment loans to individuals — — — — — — Total TDRs arising during period 6 $ 655 $ 684 10 $ 4,452 $ 4,414
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, 2018 and 2017 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 Real estate – mortgage – residential (1-4 family first mortgages) 1 $ 60 2 880 Real estate – mortgage – commercial and other 3 1,333 — — Total accruing TDRs that subsequently defaulted 4 $ 1,393 2 $ 880
Carolina Bank [Member]
Summary of contractually required payments for PCI loans 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 purchased non-impaired loans 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
Asheville Savings Bank [Member]
Summary of contractually required payments for PCI loans expected at acquisition date	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
Summary of contractually required payments for purchased non-impaired loans not expected at acquisition date	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

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment	Premises and equipment at December 31, 2018 and 2017 consisted of the following: ($ in thousands) 2018 2017 Land $ 38,647 38,821 Buildings 93,794 92,337 Furniture and equipment 36,115 35,532 Leasehold improvements 2,404 2,409 Total cost 170,960 169,099 Less accumulated depreciation and amortization (51,960 ) (52,866 ) Net book value of premises and equipment $ 119,000 116,233

FDIC Indemnification Asset (Tab

FDIC Indemnification Asset (Tables)	12 Months Ended
	Dec. 31, 2018
FDIC Indemnification Asset [Abstract]
Rollforward of the FDIC indemnification asset	The following presents a rollforward of the FDIC indemnification asset from January 1, 2016 through the date of termination. ($ in thousands) Balance at January 1, 2016 $ 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_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Other Intangible Assets [Abstract]
Summary of the gross carrying amount and accumulated amortization of amortizable intangible assets and the carrying amount of unamortized intangible assets	The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of December 31, 2018 and December 31, 2017 and the carrying amount of unamortizable intangible assets as of those same dates. December 31, 2018 December 31, 2017 ($ in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists $ 6,013 1,637 6,013 1,090 Core deposit intangibles 28,440 16,469 28,280 11,475 SBA servicing asset 5,472 1,053 2,194 207 Other 1,303 957 1,303 581 Total $ 41,228 20,116 37,790 13,353 Unamortizable intangible assets: Goodwill $ 234,368 233,070 Activity related to transactions since January 1, 2017 includes the following: (1) In connection with the Carolina Bank acquisition on March 3, 2017, the Company recorded a net increase of $66,540,000 in goodwill and $8,790,000 in a core deposit intangible. (2) 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. (3) In connection with the Asheville Savings Bank acquisition on October 1, 2017, the Company recorded a net increase of $88,677,000 in goodwill and $9,880,000 in a core deposit intangible.
Schedule of the estimated amortization expense for the five succeeding fiscal years	The following table presents the estimated amortization expense related to amortizable intangible assets for each of the five calendar years ending December 31, 2023 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortizable intangible assets. ($ in thousands) Estimated 2019 $ 5,649 2020 4,549 2021 3,549 2022 2,459 2023 1,398 Thereafter 3,508 Total $ 21,112

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of income tax allocation	Total income taxes for the years ended December 31, 2018, 2017, and 2016 were allocated as follows: ($ In thousands) 2018 2017 2016 Allocated to net income $ 24,189 21,767 14,624 Allocated to stockholders’ equity, for unrealized holding gain/loss on (2,379 ) 321 (685 ) Allocated to stockholders’ equity, for tax benefit of pension liabilities (5 ) 668 (36 ) Total income taxes $ 21,805 22,756 13,903
Schedule of components of Income tax expense	The components of income tax expense for the years ended December 31, 2018, 2017, and 2016 are as follows: ($ In thousands) 2018 2017 2016 Current - Federal $ 19,188 11,286 12,827 - State 3,187 1,996 1,679 Deferred - Federal 1,658 7,742 16 - State 156 743 102 Total $ 24,189 21,767 14,624
Schedule 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, 2018 and 2017 are presented below: ($ In thousands) 2018 2017 Deferred tax assets: Allowance for loan losses $ 4,917 5,448 Excess book over tax pension plan cost 92 — Deferred compensation 367 1,220 Federal & state net operating loss and tax credit carryforwards 631 2,125 Accruals, book versus tax 3,036 2,546 Pension liability adjustments 752 748 Foreclosed real estate 715 740 Basis differences in assets acquired in FDIC transactions 1,121 1,311 Nonqualified stock options 240 248 Partnership investments 208 232 Unrealized gain on securities available for sale 2,895 517 SBA servicing asset 310 139 All other 42 42 Gross deferred tax assets 15,326 15,316 Less: Valuation allowance (36 ) (44 ) Net deferred tax assets 15,290 15,272 Deferred tax liabilities: Loan fees (2,484 ) (1,880 ) Excess book over tax pension plan cost — (95 ) Depreciable basis of fixed assets (4,278 ) (3,122 ) Amortizable basis of intangible assets (7,921 ) (7,915 ) FHLB stock dividends (721 ) (658 ) Trust preferred securities (528 ) (616 ) Purchase accounting adjustments (122 ) (2,133 ) All other — (28 ) Gross deferred tax liabilities (16,054 ) (16,447 ) Net deferred tax asset (liability) - included in other assets $ (764 ) (1,175 )
Schedule of effective tax rate reconciliation	The following is a reconcilement of federal income tax expense at the statutory rate of 21% at December 31, 2018 and 35% at December 31, 2017 and 2016, to the income tax provision reported in the financial statements. ($ In thousands) 2018 2017 2016 Tax provision at statutory rate $ 23,830 23,709 14,746 Increase (decrease) in income taxes resulting from: Tax-exempt interest income (1,117 ) (1,461 ) (1,202 ) Low income housing and AMT tax credits (698 ) (596 ) (192 ) Non-deductible interest expense 27 24 16 State income taxes, net of federal benefit 2,639 1,780 1,158 Change in valuation allowance (8 ) (1 ) (24 ) Impact of tax reform — (1,269 ) — Other, net (484 ) (419 ) 122 Total $ 24,189 21,767 14,624

Time Deposits and Related Par_2

Time Deposits and Related Party Deposits (Tables)	12 Months Ended
	Dec. 31, 2018
Time Deposits and Related Party Deposits [Abstract]
Schedule of maturities of time deposits	At December 31, 2018, the scheduled maturities of time deposits were as follows: ($ in thousands) 2019 $ 753,537 2020 117,229 2021 48,477 2022 21,726 2023 13,136 Thereafter 817 $ 954,922

Borrowings and Borrowings Ava_2

Borrowings and Borrowings Availability (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of debt	The following tables present information regarding the Company’s outstanding borrowings at December 31, 2018 and 2017: Description – 2018 Due date Call Feature 2018 Interest Rate FHLB Term Note 1/10/2019 None $ 68,000,000 2.47% fixed FHLB Term Note 1/17/2019 None 135,000,000 2.49% fixed FHLB Term Note 1/24/2019 None 20,000,000 2.54% fixed FHLB Term Note 1/31/2019 None 20,000,000 2.53% fixed FHLB Term Note 1/31/2019 None 10,000,000 2.53% fixed FHLB Term Note 4/18/2019 None 50,000,000 2.36% fixed FHLB Term Note 5/29/2020 None 40,000,000 1.62% fixed FHLB Principal Reducing Credit 7/24/2023 None 210,000 1.00% fixed FHLB Principal Reducing Credit 12/22/2023 None 1,065,000 1.25% fixed FHLB Principal Reducing Credit 1/15/2026 None 7,500,000 1.98% fixed FHLB Principal Reducing Credit 6/26/2028 None 255,000 0.25% fixed FHLB Principal Reducing Credit 7/17/2028 None 61,000 0.00% fixed FHLB Principal Reducing Credit 8/18/2028 None 188,000 1.00% fixed FHLB Principal Reducing Credit 8/22/2028 None 188,000 1.00% fixed FHLB Principal Reducing Credit 12/20/2028 None 379,000 0.50% fixed Trust Preferred Securities 1/23/2034 Quarterly by Company 20,620,000 5.22% at 12/31/2018 Trust Preferred Securities 6/15/2036 Quarterly by Company 25,774,000 4.18% at 12/31/2018 Trust Preferred Securities 1/07/2035 Quarterly by Company 10,310,000 4.44% at 12/31/2018 Total borrowings / weighted average rate as of December 31, 2018 $ 409,550,000 2.68% Unamortized discount on acquired borrowings (2,941,000 ) Total borrowings $ 406,609,000 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

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Schedule of future minimum lease payments, operating lease	Future obligations for minimum rentals under noncancelable operating leases at December 31, 2018 are as follows: ($ in thousands) Year ending December 31: 2019 $ 2,268 2020 1,973 2021 1,344 2022 869 2023 768 Thereafter 4,082 Total $ 11,304

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018, 2017, and 2016: 2018 2017 2016 Pension SERP Pension SERP Pension SERP Discount rate used to determine net periodic pension cost 3.46% 3.46% 3.97% 3.97% 4.17% 4.17% Discount rate used to calculate end of year liability disclosures 4.08% 3.92% 3.46% 3.46% 3.97% 3.97% Expected long-term rate of return on assets 2.75% 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) 2018 2017 2016 Change in benefit obligation Benefit obligation at beginning of year $ 38,150 36,840 36,164 Service cost — — — Interest cost 1,312 1,449 1,502 Actuarial (gain) loss (1,160 ) 1,941 1,288 Benefits paid (1,948 ) (2,080 ) (2,114 ) Benefit obligation at end of year 36,354 38,150 36,840 Change in plan assets Plan assets at beginning of year 41,306 36,950 35,489 Actual return on plan assets (188 ) 6,436 3,575 Employer contributions — — — Benefits paid (1,948 ) (2,080 ) (2,114 ) Plan assets at end of year 39,170 41,306 36,950 Funded status at end of year $ 2,816 3,156 110
Schedule of amounts recognized in balance sheet	The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 as it relates to the Pension Plan, excluding the related deferred tax assets. ($ in thousands) 2018 2017 Other assets $ 2,816 3,156 Other liabilities — — $ 2,816 3,156
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, 2018 and 2017, as it relates to the Pension Plan. ($ in thousands) 2018 2017 Net gain (loss) $ (4,034 ) (3,925 ) Prior service cost — — Amount recognized in AOCI before tax effect (4,034 ) (3,925 ) Tax (expense) benefit 943 1,452 Net amount recognized as increase (decrease) to AOCI $ (3,091 ) (2,473 )
Schedule of reconciliation of balances in AOCI	The following table reconciles the beginning and ending balances of AOCI at December 31, 2018 and 2017, as it relates to the Pension Plan: ($ in thousands) 2018 2017 Accumulated other comprehensive loss at beginning of fiscal year $ (2,909 ) (3,692 ) Net gain (loss) arising during period (143 ) 1,686 Amortization of unrecognized actuarial loss 34 244 Tax (expense) benefit of changes during the year, net (73 ) (711 ) Accumulated other comprehensive gain (loss) (3,091 ) (2,473 ) Reclassification from AOCI to Retained Earnings due to statutory tax changes — (436 ) Accumulated other comprehensive gain (loss) at end of fiscal year $ (3,091 ) (2,909 )
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) 2018 2017 Prepaid pension cost as of beginning of fiscal year $ 7,082 5,965 Net periodic pension income (cost) for fiscal year (231 ) 1,117 Actual employer contributions — — Prepaid pension asset as of end of fiscal year $ 6,851 7,082
Schedule of net pension costs	Net pension (income) cost for the Pension Plan included the following components for the years ended December 31, 2018, 2017, and 2016: ($ in thousands) 2018 2017 2016 Service cost – benefits earned during the period $ — — — Interest cost on projected benefit obligation 1,312 1,449 1,502 Expected return on plan assets (1,115 ) (2,810 ) (2,698 ) Net amortization and deferral 34 244 238 Net periodic pension (income) cost $ 231 (1,117 ) (958 )
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. ($ in thousands) Estimated Year ending December 31, 2019 $ 1,735 Year ending December 31, 2020 1,792 Year ending December 31, 2021 1,898 Year ending December 31, 2022 1,957 Year ending December 31, 2023 2,000 Years ending December 31, 2024-2028 10,582
Schedule of fair value of plan assets	The fair values of the Company’s pension plan assets at December 31, 2018, by asset category, were as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Cash and cash equivalents $ 267 267 — — Investment funds Fixed income funds 38,903 — 38,903 — Total $ 39,170 267 38,903 — The fair values of the Company’s pension plan assets at December 31, 2017, by asset category, were as follows: ($ in thousands) Total Fair Value at Quoted Prices in Significant Other Significant Cash and cash equivalents (money market fund) $ 41,306 — 41,306 — Total $ 41,306 — 41,306 —
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) 2018 2017 2016 Change in benefit obligation Projected benefit obligation at beginning of year $ 5,970 5,910 5,778 Service cost 124 118 106 Interest cost 200 227 238 Actuarial (gain) loss (102 ) 85 145 Benefits paid (398 ) (370 ) (357 ) Projected benefit obligation at end of year 5,794 5,970 5,910 Plan assets — — — Funded status at end of year $ 5,794 (5,970 ) (5,910 )
Schedule of amounts recognized in balance sheet	The following table presents information regarding the amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 as it relates to the SERP, excluding the related deferred tax assets. ($ in thousands) 2018 2017 Other assets – prepaid pension asset (liability) $ (6,608 ) (6,695 ) Other assets (liabilities) 814 725 $ (5,794 ) (5,970 )
Schedule of amounts recognized in other comprehensive income	The following table presents information regarding the amounts recognized in AOCI at December 31, 2018 and 2017, as it relates to the SERP: ($ in thousands) 2018 2017 Net gain (loss) $ 814 725 Prior service cost — — Amount recognized in AOCI before tax effect 814 725 Tax (expense) benefit (190 ) (268 ) Net amount recognized as increase (decrease) to AOCI $ 624 457
Schedule of reconciliation of balances in AOCI	The following table reconciles the beginning and ending balances of AOCI at December 31, 2018 and 2017, as it relates to the SERP: ($ in thousands) 2018 2017 Accumulated other comprehensive income at beginning of fiscal year $ 457 533 Net gain (loss) arising during period 102 (85 ) Prior service cost — — Amortization of unrecognized actuarial loss (13 ) (34 ) Amortization of prior service cost and transition obligation — — Tax benefit (expense) related to changes during the year, net 78 43 Accumulated other comprehensive income (loss) at end of fiscal year $ 624 457
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) 2018 2017 Prepaid pension cost (liability) as of beginning of fiscal year $ (6,695 ) (6,754 ) Net periodic pension cost for fiscal year (311 ) (311 ) Benefits paid 398 370 Prepaid pension cost (liability) as of end of fiscal year $ (6,608 ) (6,695 )
Schedule of net pension costs	Net pension cost for the SERP included the following components for the years ended December 31, 2018, 2017, and 2016: ($ in thousands) 2018 2017 2016 Service cost – benefits earned during the period $ 124 118 106 Interest cost on projected benefit obligation 200 227 238 Net amortization and deferral (13 ) (34 ) (35 ) Net periodic pension cost $ 311 311 309
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, 2019 $ 411 Year ending December 31, 2020 408 Year ending December 31, 2021 401 Year ending December 31, 2022 391 Year ending December 31, 2023 380 Years ending December 31, 2024-2028 1,970

Commitments, Contingencies, a_2

Commitments, Contingencies, and Concentrations of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of outstanding loan commitments	The following table presents the Company’s outstanding loan commitments at December 31, 2018. ($ in thousands) Type of Commitment Fixed Rate Variable Rate Total Outstanding closed-end loan commitments $ 209,726 460,377 670,103 Unfunded commitments on revolving lines of credit, credit cards and home equity loans 149,898 468,793 618,691 Total $ 359,624 929,170 1,288,794
Schedule of maximum credit risk for securities	The following are the fair values at December 31, 2018 of securities to any one issuer/guarantor that exceed $5.0 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 $ 191,839 186,735 Ginnie Mae – mortgage-backed securities 127,358 123,593 Freddie Mac – mortgage-backed securities 98,608 95,285 Federal Home Loan Bank System - bonds 70,495 70,421 Small Business Administration securities 26,878 25,977 Federal Home Loan Bank of Atlanta - common stock 20,036 20,036 Federal Reserve Bank - common stock 17,432 17,432 Bank of America corporate bonds 7,000 6,879 Citigroup, Inc. corporate bonds 6,028 5,921 Goldman Sachs Group Inc. corporate bond 5,073 4,937 JP Morgan Chase corporate bond 5,018 4,904 Federal Farm Credit Bank – bond 5,000 4,921 Fannie Mae – bond 5,000 4,871

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018. ($ in thousands) Description of Financial Instruments Fair Value at Quoted Prices in Significant Significant Recurring Securities available for sale: Government-sponsored enterprise securities $ 82,662 — 82,662 — Mortgage-backed securities 385,551 — 385,551 — Corporate bonds 33,138 — 33,138 — Total available for sale securities $ 501,351 — 501,351 — Nonrecurring Impaired loans $ 13,071 — — 13,071 Foreclosed real estate 7,440 — — 7,440 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
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, 2018, 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 $ 13,071 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 7,440 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, 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%
Schedule of the carrying amounts and estimated fair values of financial instruments	As discussed in Note 1(r), the Company is required to disclose estimated fair values for its financial instruments. Fair value estimates as of December 31, 2018 and 2017 and limitations thereon are set forth below for the Company’s financial instruments. See Note 1(r) for a discussion of fair value methods and assumptions, as well as fair value information for off-balance sheet financial instruments. December 31, 2018 December 31, 2017 ($ in thousands) Level in Carrying Estimated Carrying Estimated Cash and due from banks, noninterest-bearing Level 1 $ 56,050 56,050 114,301 114,301 Due from banks, interest-bearing Level 1 406,848 406,848 375,189 375,189 Securities available for sale Level 2 501,351 501,351 343,270 343,270 Securities held to maturity Level 2 101,237 99,906 118,503 118,998 Presold mortgages in process of settlement Level 1 4,279 4,279 12,459 12,459 Total loans, net of allowance Level 3 4,228,025 4,181,139 4,019,071 4,010,551 Accrued interest receivable Level 1 16,004 16,004 14,094 14,094 Bank-owned life insurance Level 1 101,878 101,878 99,162 99,162 SBA Servicing Asset Level 3 4,419 4,617 1,987 1,987 Deposits Level 2 4,659,339 4,653,522 4,406,955 4,401,757 Borrowings Level 2 406,609 402,556 407,543 397,903 Accrued interest payable Level 2 1,976 1,976 1,235 1,235

Equity-Based Compensation Pla_2

Equity-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Equity-Based Compensation Plans [Abstract]
Schedule of Company's stock options outstanding	The following table presents information regarding the activity during 2016, 2017, and 2018 related to the Company’s outstanding restricted stock: Long-Term Restricted Stock Nonvested at January 1, 2016 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 (28,514 ) 20.05 Forfeited or expired during the period (8,535 ) 18.34 Nonvested at December 31, 2017 103,063 $ 24.08 Granted during the period 66,060 40.04 Vested during the period (35,703 ) 22.82 Forfeited or expired during the period (4,169 ) 29.99 Nonvested at December 31, 2018 129,251 $ 32.39
Schedule of outstanding restricted stock	The following table presents information regarding the activity since January 1, 2016 related to all of the Company’s stock options outstanding: Options Outstanding Number of Weighted- Weighted- Aggregate Balance at January 1, 2016 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 — — Balance at December 31, 2017 38,689 $ 16.09 Granted — — Exercised (29,689 ) 16.61 $ 659,743 Forfeited — — Expired — — Outstanding at December 31, 2018 9,000 $ 14.53 0.42 $ 163,038 Exercisable at December 31, 2018 9,000 $ 14.53 0.42 $ 163,038

Regulatory Restrictions (Tables

Regulatory Restrictions (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 Common Equity Tier I Capital Ratio Company $ 535,566 12.28% $ 305,287 7.00% $ N/A N/A Bank 586,053 13.44% 305,163 7.00% 283,366 6.50% Total Capital Ratio Company 609,428 13.97% 457,930 10.50% N/A N/A Bank 607,717 13.94% 457,745 10.50% 435,948 10.00% Tier I Capital Ratio Company 587,764 13.48% 370,705 8.50% N/A N/A Bank 586,053 13.44% 370,555 8.50% 348,758 8.00% Leverage Ratio Company 587,764 10.47% 224,014 4.00% N/A N/A Bank 586,053 10.45% 224,406 4.00% 280,508 5.00% 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%

Supplementary Income Statemen_2

Supplementary Income Statement Information (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018, 2017, and 2016 are as follows: ($ in thousands) 2018 2017 2016 Other service charges, commissions, and fees – debit card interchange income $ 10,466 7,732 6,564 Other service charges, commissions, and fees – other interchange income 4,140 3,722 3,018 Other operating expenses – dues and subscriptions (includes software subscriptions) 3,431 1,889 1,604 Other operating expenses – credit/debit card processing expense 3,411 2,797 2,296 Other operating expenses – data processing expense 3,234 2,910 2,010 Other operating expenses – marketing 3,065 2,549 1,999 Other operating expenses – telephone and data line expense 3,024 2,470 2,311 Other operating expenses – stationery and supplies 2,582 2,399 2,066 Other operating expenses – FDIC insurance expense 2,333 2,350 2,009 Other operating expenses – outside consultants 1,820 2,511 1,700 Other operating expenses – repossession and collection 1,366 1,736 1,842

Condensed Parent Company Info_2

Condensed Parent Company Information (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Financial Information 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) 2018 2017 Assets Cash on deposit with bank subsidiary $ 5,544 4,535 Investment in wholly-owned subsidiaries, at equity 816,648 745,669 Premises and Equipment 7 7 Other assets — — Total assets 822,199 750,211 Liabilities and shareholders’ equity Trust preferred securities 53,902 53,758 Other liabilities 4,067 3,474 Total liabilities 57,969 57,232 Shareholders’ equity 764,230 692,979 Total liabilities and shareholders’ equity $ 822,199 750,211
Condensed financial data for First Bancorp (parent company only) CONDENSED STATEMENTS OF INCOME	CONDENSED STATEMENTS OF INCOME Year Ended December 31, ($ in thousands) 2018 2017 2016 Dividends from wholly-owned subsidiaries $ 15,525 52,732 9,000 Earnings of wholly-owned subsidiaries, net of dividends 77,050 (4,793 ) 20,517 Interest expense (2,498 ) (1,867 ) (1,216 ) All other income and expenses, net (788 ) (100 ) (792 ) Net income 89,289 45,972 27,509 Preferred stock dividends — — (175 ) Net income available to common shareholders $ 89,289 45,972 27,334
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) 2018 2017 2016 Operating Activities: Net income $ 89,289 45,972 27,509 Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries) (77,050 ) 4,793 (20,517 ) Decrease (increase) in other assets (13 ) 283 15 Increase (decrease) in other liabilities 146 (67 ) 130 Total – operating activities 12,372 50,981 7,137 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 (11,281 ) (7,596 ) (6,632 ) Proceeds from issuance of common stock 324 287 375 Stock withheld for payment of taxes (406 ) (231 ) (166 ) Total - financing activities (11,363 ) (7,540 ) (6,423 ) Net increase (decrease) in cash 1,009 5 714 Cash, beginning of year 4,535 4,530 3,816 Cash, end of year $ 5,544 4,535 4,530

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue From Contracts With Customers Tables Abstract
Schedule of Noninterest Income	For the Years Ended December 31, ($ in thousands) 2018 2017 2016 Service charges on deposit accounts $ 12,690 11,862 10,571 Other service charges, commissions, and fees: Interchange income 14,606 11,454 9,582 Other fees 5,339 3,156 2,331 Fees from presold mortgage loans (1) 2,735 5,695 2,033 Commissions from sales of insurance and financial products: Insurance income 6,038 3,148 1,763 Wealth management income 2,693 2,152 2,027 SBA consulting fees 4,675 4,024 3,199 SBA loan sale gains (1) 10,366 5,479 1,433 Bank-owned life insurance income (1) 2,534 2,321 2,052 Foreclosed property gains (losses), net (565 ) (531 ) (625 ) FDIC indemnification asset income (expense), net (1) — — (10,255 ) Securities gains (losses), net (1) — (235 ) 3 Gain on branch sale (1) — — 1,466 Other gains (losses), net (1) 723 383 (29 ) Total noninterest income $ 61,834 48,908 25,551 (1) Not within the scope of ASC 606.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other investments		$ 7,500	$ 5,300
Reclassification of accumulated other comprehensive income due to statutory tax changes	$ 700
Accounting Standards Pending Adoption		$ 18,000
Minimum [Member]
Useful life		2 years
Maximum [Member]
Useful life		40 years
Employee Stock Option [Member]
Number of anti-dilutive securities				5,000

Summary of Significant Accoun_5

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Basic EPS
Net income available to common shareholders	$ 89,289	$ 45,972	$ 27,334
Shares (denominator)	29,566,259	25,210,606	19,964,727
Basic EPS	$ 3.02	$ 1.82	$ 1.37
Effect of Dilutive Securities Income (numerator)			$ 175
Effect of Dilutive Securities Shares (denominator)	141,172	80,776	768,190
Diluted EPS per common share
Income (numerator)	$ 89,289	$ 45,972	$ 27,509
Shares (denominator)	29,707,431	25,291,382	20,732,917
Diluted EPS per common share	$ 3.01	$ 1.82	$ 1.33

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	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	$ (12,390)	$ (2,211)	$ (3,085)
Deferred tax asset (liability)	2,896	517	1,138
Net unrealized gain (loss) on securities available for sale	(9,494)	(1,694)	(1,947)	$ (709)
Additional pension asset (liability)	(3,220)	(3,200)	(5,012)
Deferred tax asset (liability)	753	748	1,852
Net additional pension asset (liability)	(2,467)	(2,452)	(3,160)	(2,841)
Total accumulated other comprehensive income (loss)	$ (11,961)	$ (4,146)	$ (5,107)	$ (3,550)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Schedule of Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Unrealized Gain (Loss) on Securities Available for Sale
Beginning balance	$ (1,694)	$ (1,947)	$ (709)
Other comprehensive income (loss) before reclassifications	(7,800)	405	(1,236)
Amounts reclassified from accumulated other comprehensive income		148	(2)
Net current-period other comprehensive income (loss)	(7,800)	553	(1,238)
Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes		(300)
Ending balance	(9,494)	(1,694)	(1,947)
Additional Pension Asset (Liability)
Beginning balance	(2,452)	(3,160)	(2,841)
Other comprehensive income (loss) before reclassifications	(31)	1,008	(442)
Amounts reclassified from accumulated other comprehensive income	16	136	123
Net current-period other comprehensive income (loss)	(15)	1,144	(319)
Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes		(436)
Ending balance	(2,467)	(2,452)	(3,160)
Total
Beginning balance	(4,146)	(5,107)	(3,550)
Other comprehensive income (loss) before reclassifications	(7,831)	1,413	(1,678)
Amounts reclassified from accumulated other comprehensive income	16	284	121
Net current-period other comprehensive income (loss)	(7,815)	1,697	(1,557)
Reclassification of accumulated other comprehensive income to retained earnings due to statutory tax changes		(736)
Ending balance	$ (11,961)	$ (4,146)	$ (5,107)

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ / shares in Units, $ in Thousands	Oct. 01, 2017USD ($)$ / sharesshares	Sep. 01, 2017USD ($)shares	Mar. 03, 2017USD ($)$ / shares	Mar. 03, 2017USD ($)$ / sharesshares	Jul. 15, 2016USD ($)	May 05, 2016USD ($)shares	Jan. 02, 2016USD ($)shares	Jun. 30, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Shares issued pursuant to acquisition										$ 284,192	$ 5,509
Goodwill									$ 234,368	233,070
Loans sold									157,427	77,034	20,021
Premises and equipment sold									2,753	151	$ 2,025
Core deposit intangible	$ 9,880	$ 271	$ 8,790	$ 8,790
Total assets									5,864,116	5,547,037
Total deposits									4,659,339	4,406,955
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 adjustment									(32)	$ 780
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			66,540	66,540
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] | Core Deposit Intangible [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible assets			7 years
Carolina Bank [Member] | Deposit Liabilities [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible assets			5 years
Carolina Bank [Member] | Borrowings [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible assets			18 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
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	88,677
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

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	Dec. 31, 2018	Sep. 01, 2017
Assets
Core deposit intangible		$ 9,880		$ 8,790					$ 271
Fair Value Adjustments
Value of stock issued						$ 284,192	$ 5,509
Goodwill recorded related to acquisition						$ 233,070		$ 234,368
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				66,540
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		9,760	[7]	8,790	[8]
Other	[9]	(5,851)		(4,804)
Total Assets		9,472		5,536
Deposits		430	[10]	431	[11]
Borrowings				(2,855)	[12]
Other	[13]	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	[14]
Write-down of purchased credit impaired loans
Allowance for loan losses
Presold mortgages
Premises and equipment				(319)	[15]
Core deposit intangible		120	[16]
Other		(777)	[17]	757	[18]
Total Assets		(657)		584
Deposits
Borrowings				(262)	[19]
Other		(380)	[20]	(444)	[21]
Total Liabilities		(380)		(706)
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		9,880		8,790
Other		29,316		30,929
Total		806,559		689,972
Liabilities
Deposits		679,137		585,381
Borrowings		20,000		18,738
Other		8,861		12,636
Total		707,998		616,755
Net identifiable assets acquired		98,561		$ 73,217
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		$ 88,677
[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 is being amortized as expense on an accelerated basis over seven years.
[8]	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.
[9]	This fair value adjustment primarily represents the net deferred tax liability associated with the other fair value adjustments made to record the transaction.
[10]	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 is being amortized to reduce interest expense on an accelerated basis over their remaining five year life.
[11]	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 is being amortized to reduce interest expense on an accelerated basis over their remaining five year life.
[12]	This fair value adjustment was primarily recorded because the interest rate of Carolina Bank's trust preferred securities was less than the current interest rate on similar instruments. This amount is being amortized on approximately a straight-line basis to increase interest expense over the remaining life of the related borrowing, which is 18 years.
[13]	This fair value adjustment represents miscellaneous adjustments needed to record assets and liabilities at their fair value.
[14]	This fair value adjustment was a miscellaneous adjustment to increase the initial fair value of gross loans.
[15]	This fair value adjustment relates to miscellaneous adjustment to decrease the initial fair value of premises and equipment.
[16]	This fair value adjustment relates to a change in the final amount of the core deposit intangible asset from the amount originally estimated.
[17]	This fair value adjustment relates to the write-down of a foreclosed property based on an updated appraisal and the related tax deferred tax asset adjustment.
[18]	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 based on newly obtained valuations.
[19]	This fair value adjustment relates to miscellaneous adjustments to decrease the initial fair value of borrowings.
[20]	This fair value adjustment was recorded to adjust the tax liability assumed on the acquisition date based on updated information.
[21]	This fair value adjustment related to a change in the estimate of a contingent liability.

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
Carolina Bank [Member]
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, 2018	Dec. 31, 2017	Dec. 31, 2016
Private mortgage-backed security fair value	$ 1,000	$ 500
Investment securities, pledged as collateral for public deposits	234,382	176,813
Sales of investment securities		140,621	$ 8
Net realized gains (losses) of investment securities		235	$ 3
Federal Home Loan Bank stock and Federal Reserve Bank stock, cost	37,468	31,338
Federal Home Loan Bank Stock, cost	20,036	19,647
Federal Reserve Bank, cost	$ 17,432	$ 11,691
IPO [Member] | Class B shares [Member]
Shares owned	12,356

Securities (Summary of Book Val

Securities (Summary of Book Values and Fair Values of Investment Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Securities available for sale:
Amortized Cost	$ 513,741	$ 345,482
Fair Value	501,351	343,270
Unrealized Gain	178	758
Unrealized (Losses)	(12,568)	(2,969)
Securities held to maturity:
Amortized Cost	101,237	118,503
Fair Value	99,906	118,998
Unrealized Gain	525	1,280
Unrealized (Losses)	(1,856)	(785)
Government-sponsored enterprise securities [Member]
Securities available for sale:
Amortized Cost	82,995	14,000
Fair Value	82,662	13,867
Unrealized Gain	63
Unrealized (Losses)	(396)	(133)
Mortgage-backed securities [Member]
Securities available for sale:
Amortized Cost	396,995	297,690
Fair Value	385,551	295,213
Unrealized Gain	39	246
Unrealized (Losses)	(11,483)	(2,722)
Securities held to maturity:
Amortized Cost	52,048	63,829
Fair Value	50,241	63,092
Unrealized Gain
Unrealized (Losses)	(1,807)	(737)
State and local governments [Member]
Securities held to maturity:
Amortized Cost	49,189	54,674
Fair Value	49,665	55,906
Unrealized Gain	525	1,280
Unrealized (Losses)	(49)	(48)
Corporate bonds [Member]
Securities available for sale:
Amortized Cost	33,751	33,792
Fair Value	33,138	34,190
Unrealized Gain	76	512
Unrealized (Losses)	$ (689)	$ (114)

Securities (Schedule of Informa

Securities (Schedule of Information Regarding Securities with Unrealized Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Securities in an Unrealized Loss Position for Less than 12 Months
Total temporarily impaired securities Fair Value	$ 108,745	$ 214,027
Total temporarily impaired securities Unrealized Losses	863	1,782
Securities in an Unrealized Loss Position for More than 12 Months
Total temporarily impaired securities Fair Value	320,445	128,965
Total temporarily impaired securities Unrealized Losses	13,561	1,972
Total temporarily impaired securities Fair Value	429,190	342,992
Total temporarily impaired securities Unrealized Losses	14,424	3,754
Government-sponsored enterprise securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	4,921	10,897
AFS Unrealized Losses	78	103
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	13,682	2,970
AFS Unrealized Losses	318	30
Total temporarily impaired securities Fair Value	18,603	13,867
Total temporarily impaired securities Unrealized Losses	396	133
Mortgage-backed securities [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	82,525	192,702
AFS Unrealized Losses	351	1,582
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	294,305	125,060
AFS Unrealized Losses	12,939	1,877
Total temporarily impaired securities Fair Value	376,830	317,762
Total temporarily impaired securities Unrealized Losses	13,290	3,459
Corporate bonds [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	20,704	2,500
AFS Unrealized Losses	433	49
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	5,817	935
AFS Unrealized Losses	256	65
Total temporarily impaired securities Fair Value	26,521	3,435
Total temporarily impaired securities Unrealized Losses	689	114
State and local governments [Member]
Securities in an Unrealized Loss Position for Less than 12 Months
AFS Fair Value	595	7,928
AFS Unrealized Losses	1	48
Securities in an Unrealized Loss Position for More than 12 Months
AFS Fair Value	6,641
AFS Unrealized Losses	48
Total temporarily impaired securities Fair Value	7,236	7,928
Total temporarily impaired securities Unrealized Losses	$ 49	$ 48

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, 2018	Dec. 31, 2017
Securities Available for Sale - Amortized Cost
Due within one year
Due after one year but within five years	109,205
Due after five years but within ten years	2,541
Due after ten years	5,000
Mortgage-backed securities	396,995
Total securities	513,741	$ 345,482
Securities Available for Sale - Fair Value
Due within one year
Due after one year but within five years	108,303
Due after five years but within ten years	2,559
Due after ten years	4,938
Mortgage-backed securities	385,551
Securities available for sale	501,351	343,270
Securities Held to Maturity - Amortized Cost
Due within one year	2,233
Due after one year but within five years	28,488
Due after five years but within ten years	16,743
Due after ten years	1,725
Mortgage-backed securities	52,048
Total securities	101,237
Securities Held to Maturity - Fair Value
Due within one year	2,240
Due after one year but within five years	28,766
Due after five years but within ten years	16,932
Due after ten years	1,727
Mortgage-backed securities	50,241
Total securities	$ 99,906	$ 118,998

Loans and Asset Quality Infor_3

Loans and Asset Quality Information (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 01, 2017	Mar. 03, 2017
Recorded loans with a fair value				$ 606,200,000	$ 497,500,000
Loans pledged as collateral	$ 3,800,000,000	$ 3,600,000,000
Loans to officers and directors	5,700,000	3,600,000
Additions to loans, officers and directors	2,100,000
Remaining unaccreted discount	2,941,000	3,122,000
Payments that exceeded the initial carrying amount on purchased impaired loans	772,000	1,064,000
Discount accretion loan interest income - purchased impaired loans paid off	493,000	962,000
Additional loan interest income - purchased impaired loans paid off	279,000	102,000
Recoveries	750,000
Interest income on restructured loans	763,000	885,000	$ 423,000
SBA Loans [Member]
Remaining unaccreted discount	5,700,000	2,600,000
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Nonaccrual loans in process of foreclosure	700,000	800,000
Non Accrual Loans [Member]
Interest income forgone	1,616,000	1,503,000	1,893,000
Restructured Loans [Member]
Interest income on non accrual loans	765,000	415,000	266,000
Interest income forgone	974,000	1,182,000	$ 1,417,000
Purchased Impaired Loans [Member]
Recorded loans with a fair value				$ 9,900,000	$ 19,300,000
Purchased Impaired Loans [Member] | Carolina Bank and Asheville Savings Bank [Member] | 90 Days or More Past Due [Member]
Recorded loans with a fair value	600,000	600,000
Purchased Non-Impaired Loans [Member]
Remaining accretable discount on purchased non-impaired loans	$ 15,000,000	$ 21,500,000

Loans and Asset Quality Infor_4

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 Infor_5

Loans and Asset Quality Information (Summary of Major Categories of Total Loans Outstanding) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
All loans:
Amount of loans	$ 4,247,765	$ 4,043,355
Percentage of Loans	100.00%	100.00%
Unamortized net deferred loan costs (fees)	$ 1,299	$ (986)
Total loans	4,249,064	4,042,369
Commercial, financial, and agricultural [Member]
All loans:
Amount of loans	$ 457,037	$ 381,130
Percentage of Loans	11.00%	10.00%
Real estate - construction, land development & other land loans [Member]
All loans:
Amount of loans	$ 518,976	$ 539,020
Percentage of Loans	12.00%	13.00%
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
All loans:
Amount of loans	$ 1,054,176	$ 972,772
Percentage of Loans	25.00%	24.00%
Real estate - mortgage - home equity loans / lines of credit [Member]
All loans:
Amount of loans	$ 359,162	$ 379,978
Percentage of Loans	8.00%	9.00%
Real estate - mortgage - commercial and other [Member]
All loans:
Amount of loans	$ 1,787,022	$ 1,696,107
Percentage of Loans	42.00%	42.00%
Installment loans to individuals [Member]
All loans:
Amount of loans	$ 71,392	$ 74,348
Percentage of Loans	2.00%	2.00%

Loans and Asset Quality Infor_6

Loans and Asset Quality Information (Schedule of Applied Cost Recovery Method of Purchased Impaired Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Purchased Credit Impaired Loans
Balance, beginning, carrying value	$ 23,165	$ 514
Change due to payments received and accretion	(5,799)	(6,016)
Change due to loan charge-offs	(10)	(12)
Transfers to foreclosed real estate	(4)	(69)
Other	41	(392)
Balance, ending, carrying value	17,393	23,165
Carolina Bank [Member]
Purchased Credit Impaired Loans
Additions due to acquisition		19,254
Asheville Savings Bank [Member]
Purchased Credit Impaired Loans
Additions due to acquisition		9,886
Accretable Yield for PCI loans [Member]
Purchased Credit Impaired Loans
Balance, beginning, carrying value	4,688
Accretion	(2,050)	(1,846)
Reclassification from (to) nonaccretable difference	849	423
Other	1,263	690
Balance, ending, carrying value	4,750	4,688
Accretable Yield for PCI loans [Member] | Carolina Bank [Member]
Purchased Credit Impaired Loans
Additions due to acquisition		3,617
Accretable Yield for PCI loans [Member] | Asheville Savings Bank [Member]
Purchased Credit Impaired Loans
Additions due to acquisition		$ 1,804

Loans and Asset Quality Infor_7

Loans and Asset Quality Information (Summary of Nonperforming Assets) (Details) - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017
Nonperforming assets:
Nonaccrual loans		$ 22,575	$ 20,968
Restructured loans - accruing		13,418	19,834
Accruing loans > 90 days past due
Total nonperforming loans		35,993	40,802
Foreclosed real estate		7,440	12,571
Total nonperforming assets		43,433	53,373
Purchased credit impaired loans not included above	[1]	$ 17,393	$ 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 and $0.6 million in PCI loans at December 31, 2018 and 2017, respectively, that are contractually past due 90 days or more.

Loans and Asset Quality Infor_8

Loans and Asset Quality Information (Schedule of Nonaccrual Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Company's nonaccrual loans:
Nonaccrual loans	$ 22,575	$ 20,968
Commercial, financial, and agricultural [Member]
Company's nonaccrual loans:
Nonaccrual loans	919	1,001
Real estate - construction, land development & other land loans
Company's nonaccrual loans:
Nonaccrual loans	2,265	1,822
Real estate residential, farmland and mutli-family [Member]
Company's nonaccrual loans:
Nonaccrual loans	10,115	12,201
Real estate home equity lines of credit [Member]
Company's nonaccrual loans:
Nonaccrual loans	1,685	2,524
Real estate - mortgage - commercial and other [Member]
Company's nonaccrual loans:
Nonaccrual loans	7,452	3,345
Non-covered loans to Individual
Company's nonaccrual loans:
Nonaccrual loans	139	75
Covered [Member]
Company's nonaccrual loans:
Nonaccrual loans	$ 22,575	$ 20,968

Loans and Asset Quality Infor_9

Loans and Asset Quality Information (Schedule of Analysis of Payment Status of Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Analysis of the payment status of loans
Nonaccrual loans	$ 22,575	$ 20,968
Current	4,247,765	4,043,355
Total loans	4,249,064	4,042,369	$ 2,710,712
Unamortized net deferred loan fees	1,299	(986)	$ (49)
Total loans	4,249,064	4,042,369
Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	919	1,001
Current	456,807	380,482
Real estate - construction, land development & other land loans
Analysis of the payment status of loans
Nonaccrual loans	2,265	1,822
Current	518,798	538,613
Real estate residential, farmland and mutli-family [Member]
Analysis of the payment status of loans
Nonaccrual loans	10,115	12,201
Real estate home equity lines of credit [Member]
Analysis of the payment status of loans
Nonaccrual loans	1,685	2,524
Current	358,818	379,695
Real estate - mortgage - commercial and other [Member]
Analysis of the payment status of loans
Nonaccrual loans	7,452	3,345
Current	1,776,886	1,683,595
Non-covered loans to Individual
Analysis of the payment status of loans
Nonaccrual loans	139	75
Purchased credit impaired [Member]
Analysis of the payment status of loans
Current	17,393	23,165
All Total Loans [Member]
Analysis of the payment status of loans
Nonaccrual loans	22,575	20,968
Current	4,203,565	4,007,515
Total loans	4,247,765	4,043,355
Unamortized net deferred loan fees	1,299	(986)
Total loans	4,249,064	4,042,369
All Total Loans [Member] | 30-59 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	18,324	11,903
All Total Loans [Member] | 60-89 Days past due [Member]
Analysis of the payment status of loans
Financing receivable, past due	2,718	2,368
All Total Loans [Member] | 90 Days or More Past Due [Member]
Analysis of the payment status of loans
Financing receivable, past due	583	601
All Total Loans [Member] | Commercial, financial, and agricultural [Member]
Analysis of the payment status of loans
Nonaccrual loans	919	1,001
Current	455,692	379,241
Total loans	456,807	380,482
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	191	89
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	5	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	2,265	1,822
Current	515,472	535,423
Total loans	518,798	538,613
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	849	1,154
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	212	214
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	10,115	12,201
Current	1,022,261	943,565
Total loans	1,047,923	963,913
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	14,178	6,777
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	1,369	1,370
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	1,685	2,524
Current	355,831	375,814
Total loans	358,818	379,695
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	1,048	1,347
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	254	10
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	7,452	3,345
Current	1,768,205	1,678,529
Total loans	1,776,886	1,683,595
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	709	1,270
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	520	451
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	139	75
Current	70,422	73,277
Total loans	71,140	73,892
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	359	445
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	220	95
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	15,682	21,666
Total loans	17,393	23,165
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	990	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	138	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	$ 583	$ 601

Loans and Asset Quality Info_10

Loans and Asset Quality Information (Schedule of Activity in Allowance for Loan Losses for Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Beginning balance	$ 23,298	$ 23,781	$ 28,583
Charge-offs	(6,971)	(7,811)	(10,414)
Recoveries	8,301	6,605	6,685
Transfer from covered status
Removed due to branch loan sale			(1,050)
Provisions	(3,589)	723	(23)
Ending balance	21,039	23,298	23,781
Ending balances: Allowance for loan losses
Individually evaluated for impairment	2,269	1,564	1,640
Collectively evaluated for impairment	18,642	21,461	22,141
Purchased credit impaired	128	273
Loans receivable:
Ending balance - total	4,247,765	4,043,355	2,710,761
Unamortized net deferred loan fees	1,299	(986)	(49)
Total non-covered loans	4,249,064	4,042,369	2,710,712
Ending balances: Loans
Individually evaluated for impairment	24,253	27,215	32,226
Collectively evaluated for impairment	4,206,119	3,992,975	2,678,021
Loans acquired with deteriorated credit quality	17,393	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
Ending balances: Allowance for loan losses
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	3,111	3,829	4,742
Charge-offs	(2,128)	(1,622)	(2,271)
Recoveries	1,195	1,311	805
Transfer from covered status			56
Removed due to branch loan sale			(263)
Provisions	711	(407)	760
Ending balance	2,889	3,111	3,829
Ending balances: Allowance for loan losses
Individually evaluated for impairment	226	215	7
Collectively evaluated for impairment	2,661	2,896	3,822
Purchased credit impaired	2
Loans receivable:
Ending balance - total	457,037	381,130	261,813
Ending balances: Loans
Individually evaluated for impairment	696	579	644
Collectively evaluated for impairment	456,111	379,903	261,169
Loans acquired with deteriorated credit quality	230	648
Real estate - construction, land development & other land loans [Member]
Beginning balance	2,816	2,691	3,754
Charge-offs	(158)	(589)	(1,101)
Recoveries	4,097	2,579	1,422
Transfer from covered status			65
Removed due to branch loan sale			(39)
Provisions	(4,512)	(1,865)	(1,410)
Ending balance	2,243	2,816	2,691
Ending balances: Allowance for loan losses
Individually evaluated for impairment	134	18	184
Collectively evaluated for impairment	2,109	2,798	2,507
Purchased credit impaired
Loans receivable:
Ending balance - total	518,976	539,020	354,667
Ending balances: Loans
Individually evaluated for impairment	1,345	2,975	4,001
Collectively evaluated for impairment	517,453	535,638	350,666
Loans acquired with deteriorated credit quality	178	407
Real estate residential, farmland and mutli-family [Member]
Beginning balance	6,147	7,704	7,832
Charge-offs	(1,734)	(2,641)	(3,815)
Recoveries	833	1,076	1,060
Transfer from covered status			839
Removed due to branch loan sale			(347)
Provisions	(49)	8	2,135
Ending balance	5,197	6,147	7,704
Ending balances: Allowance for loan losses
Individually evaluated for impairment	955	1,099	1,339
Collectively evaluated for impairment	4,143	4,831	6,365
Purchased credit impaired	99	217
Loans receivable:
Ending balance - total	1,054,176	972,772	750,679
Ending balances: Loans
Individually evaluated for impairment	12,391	14,800	20,807
Collectively evaluated for impairment	1,035,532	949,113	729,872
Loans acquired with deteriorated credit quality	6,253	8,859
Real estate home equity lines of credit [Member]
Beginning balance	1,827	2,420	2,893
Charge-offs	(711)	(978)	(969)
Recoveries	364	333	250
Transfer from covered status			293
Removed due to branch loan sale			(110)
Provisions	185	52	63
Ending balance	1,665	1,827	2,420
Ending balances: Allowance for loan losses
Individually evaluated for impairment	48		5
Collectively evaluated for impairment	1,608	1,788	2,415
Purchased credit impaired	9	39
Loans receivable:
Ending balance - total	359,162	379,978	239,105
Ending balances: Loans
Individually evaluated for impairment	296	368	280
Collectively evaluated for impairment	358,522	379,327	238,825
Loans acquired with deteriorated credit quality	344	283
Real estate - mortgage - commercial and other [Member]
Beginning balance	6,475	5,098	5,816
Charge-offs	(1,459)	(1,182)	(1,005)
Recoveries	1,503	1,027	836
Transfer from covered status			127
Removed due to branch loan sale			(228)
Provisions	1,464	1,532	(448)
Ending balance	7,983	6,475	5,098
Ending balances: Allowance for loan losses
Individually evaluated for impairment	906	232	105
Collectively evaluated for impairment	7,070	6,226	4,993
Purchased credit impaired	7	17
Loans receivable:
Ending balance - total	1,787,022	1,696,107	1,049,460
Ending balances: Loans
Individually evaluated for impairment	9,525	8,493	6,494
Collectively evaluated for impairment	1,767,361	1,675,102	1,042,452
Loans acquired with deteriorated credit quality	10,136	12,512	514
Non-covered loans to Individual
Beginning balance	950	1,145	1,051
Charge-offs	(781)	(799)	(1,008)
Recoveries	309	279	354
Transfer from covered status
Removed due to branch loan sale			(63)
Provisions	474	325	811
Ending balance	952	950	1,145
Ending balances: Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	941	950	1,145
Purchased credit impaired	11
Loans receivable:
Ending balance - total	71,392	74,348	55,037
Ending balances: Loans
Individually evaluated for impairment
Collectively evaluated for impairment	71,140	73,892	55,037
Loans acquired with deteriorated credit quality	252	456
Unallocated [Member]
Beginning balance	1,972	894	696
Charge-offs			(1)
Recoveries
Transfer from covered status			1
Removed due to branch loan sale
Provisions	(1,862)	1,078	198
Ending balance	110	1,972	894
Ending balances: Allowance for loan losses
Individually evaluated for impairment
Collectively evaluated for impairment	110	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 Info_11

Loans and Asset Quality Information (Schedule of Impaired Loans) (Details) - All Total Loans [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Impaired loans
Impaired loans with no related allowance - Recorded Investment	$ 8,918	$ 11,565
Impaired loans with no related allowance - Unpaid Principal Balance	10,329	13,802
Impaired loans with no related allowance - Average Recorded Investment	11,888	13,461
Impaired loans with allowance - Recorded Investment	15,335	15,650
Impaired loans with allowance - Unpaid Principal Balance	15,484	15,893
Impaired loans with related allowance - Related Allowance	2,269	1,564
Impaired loans with related allowance - Average Recorded Investment	15,867	16,229
Commercial, financial, and agricultural [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	310	183
Impaired loans with no related allowance - Unpaid Principal Balance	310	425
Impaired loans with no related allowance - Average Recorded Investment	957	276
Impaired loans with allowance - Recorded Investment	386	396
Impaired loans with allowance - Unpaid Principal Balance	387	396
Impaired loans with related allowance - Related Allowance	226	215
Impaired loans with related allowance - Average Recorded Investment	422	214
Real estate - construction, land development & other land loans [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	485	2,743
Impaired loans with no related allowance - Unpaid Principal Balance	803	3,941
Impaired loans with no related allowance - Average Recorded Investment	2,366	2,846
Impaired loans with allowance - Recorded Investment	860	232
Impaired loans with allowance - Unpaid Principal Balance	864	241
Impaired loans with related allowance - Related Allowance	134	18
Impaired loans with related allowance - Average Recorded Investment	385	503
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	4,626	5,205
Impaired loans with no related allowance - Unpaid Principal Balance	4,948	5,728
Impaired loans with no related allowance - Average Recorded Investment	4,804	7,067
Impaired loans with allowance - Recorded Investment	7,765	9,595
Impaired loans with allowance - Unpaid Principal Balance	7,904	9,829
Impaired loans with related allowance - Related Allowance	955	1,099
Impaired loans with related allowance - Average Recorded Investment	8,963	10,077
Real estate - mortgage - home equity loans / lines of credit [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	22	368
Impaired loans with no related allowance - Unpaid Principal Balance	31	387
Impaired loans with no related allowance - Average Recorded Investment	91	129
Impaired loans with allowance - Recorded Investment	274
Impaired loans with allowance - Unpaid Principal Balance	275
Impaired loans with related allowance - Related Allowance	48
Impaired loans with related allowance - Average Recorded Investment	184	66
Real estate - mortgage - commercial and other [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment	3,475	3,066
Impaired loans with no related allowance - Unpaid Principal Balance	4,237	3,321
Impaired loans with no related allowance - Average Recorded Investment	3,670	3,143
Impaired loans with allowance - Recorded Investment	6,050	5,427
Impaired loans with allowance - Unpaid Principal Balance	6,054	5,427
Impaired loans with related allowance - Related Allowance	906	232
Impaired loans with related allowance - Average Recorded Investment	5,911	5,369
Installment loans to individuals [Member]
Impaired loans
Impaired loans with no related allowance - Recorded Investment
Impaired loans with no related allowance - Unpaid Principal Balance
Impaired loans with no related allowance - Average Recorded Investment
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	$ 2

Loans and Asset Quality Info_12

Loans and Asset Quality Information (Schedule of Recorded Investment in Loans by Credit Quality Indicators) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Recorded investment in loans by credit quality indicators:
Total	$ 4,247,765	$ 4,043,355
Unamortized net deferred loan costs	(1,299)	986
Total loans	4,249,064	4,042,369
Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	4,144,395	3,891,038
Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	42,579	72,915
Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	38,216	58,434
Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	22,575	20,968
Commercial, financial, and agricultural [Member]
Recorded investment in loans by credit quality indicators:
Total	456,807	380,482
Commercial, financial, and agricultural [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	452,373	368,658
Commercial, financial, and agricultural [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	3,056	9,901
Commercial, financial, and agricultural [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	459	922
Commercial, financial, and agricultural [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	919	1,001
Real estate - construction, land development & other land loans
Recorded investment in loans by credit quality indicators:
Total	518,798	538,613
Real estate - construction, land development & other land loans | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	509,251	523,642
Real estate - construction, land development & other land loans | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	5,668	7,129
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	1,614	6,020
Real estate - construction, land development & other land loans | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	2,265	1,822
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Recorded investment in loans by credit quality indicators:
Total	1,047,923	963,913
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	1,004,457	905,111
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	12,238	16,235
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	21,113	30,366
Real estate - mortgage - residential (1-4 family) first mortgages [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	10,115	12,201
Real estate home equity lines of credit [Member]
Recorded investment in loans by credit quality indicators:
Total	358,818	379,695
Real estate home equity lines of credit [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	348,792	365,982
Real estate home equity lines of credit [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	1,688	3,784
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	6,653	7,405
Real estate home equity lines of credit [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	1,685	2,524
Real estate - mortgage - commercial and other [Member]
Recorded investment in loans by credit quality indicators:
Total	1,776,886	1,683,595
Real estate - mortgage - commercial and other [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	1,750,810	1,647,725
Real estate - mortgage - commercial and other [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	14,484	23,355
Real estate - mortgage - commercial and other [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	4,140	9,190
Real estate - mortgage - commercial and other [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	7,452	3,345
Installment loans to individuals [Member]
Recorded investment in loans by credit quality indicators:
Total	71,140	73,892
Installment loans to individuals [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	70,357	73,379
Installment loans to individuals [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	231	222
Installment loans to individuals [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	413	216
Installment loans to individuals [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total	139	75
Purchased credit impaired [Member]
Recorded investment in loans by credit quality indicators:
Total	17,393	23,165
Purchased credit impaired [Member] | Pass (Grades 1, 2 and 3) [Member]
Recorded investment in loans by credit quality indicators:
Total	8,355	6,541
Purchased credit impaired [Member] | Special Mention Loans (Grade 5) [Member]
Recorded investment in loans by credit quality indicators:
Total	5,214	12,309
Purchased credit impaired [Member] | Classified Loans (Grades 6,7 and 8) [Member]
Recorded investment in loans by credit quality indicators:
Total	3,824	4,315
Purchased credit impaired [Member] | Nonaccrual Financing Receivable [Member]
Recorded investment in loans by credit quality indicators:
Total

Loans and Asset Quality Info_13

Loans and Asset Quality Information (Schedule of Information of Loans Modified in Troubled Debt Restructuring) (Details) - All Total Loans [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)N	Dec. 31, 2017USD ($)N
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs	6	10
TDRs arising during period Pre-Modification	$ 655	$ 4,452
TDRs arising during period Post-Modification	$ 684	$ 4,414
Commercial, financial, and agricultural [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		$ 38
TDRs arising during period - Nonaccrual Post-Modification		$ 25
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	1
TDRs arising during period - Nonaccrual Pre-Modification	$ 61	$ 32
TDRs arising during period - Nonaccrual Post-Modification	$ 61	$ 32
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	2
TDRs arising during period - Accruing Pre-Modification	$ 254
TDRs arising during period - Accruing Post-Modification	$ 273
Number of contracts, TDRs Nonaccrual | N	3	2
TDRs arising during period - Nonaccrual Pre-Modification	$ 340	$ 262
TDRs arising during period - Nonaccrual Post-Modification	$ 350	$ 262
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
Real estate - mortgage - commercial and other [Member]
Information related to loans modified in a troubled debt restructuring:
Number of contracts, TDRs Accruing | N		6
TDRs arising during period - Accruing Pre-Modification		$ 4,120
TDRs arising during period - Accruing Post-Modification		$ 4,095
Number of contracts, TDRs Nonaccrual | N
TDRs arising during period - Nonaccrual Pre-Modification
TDRs arising during period - Nonaccrual Post-Modification
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

Loans and Asset Quality Info_14

Loans and Asset Quality Information (Schedule of Accruing Restructured Loans Defaulted in Period) (Details) - All Total Loans [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default	4	2
Subsequently defaulted - Recorded Investment	$ 1,393	$ 880
Real estate - mortgage - residential (1-4 family) first mortgages [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default	1	2
Subsequently defaulted - Recorded Investment	$ 60	$ 880
Real estate - mortgage - commercial and other [Member]
Accruing TDRs that subsequently defaulted
Number of Contracts - Subsequent Default	3
Subsequently defaulted - Recorded Investment	$ 1,333

Premises and Equipment (Schedul

Premises and Equipment (Schedule of Premises and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Premises and equipment, gross	$ 170,960	$ 169,099
Less accumulated depreciation and amortization	(51,960)	(52,866)
Net book value of premises and equipment	119,000	116,233
Land [Member]
Premises and equipment, gross	38,647	38,821
Buildings [Member]
Premises and equipment, gross	93,794	92,337
Furniture and Equipment [Member]
Premises and equipment, gross	36,115	35,532
Leasehold Improvements [Member]
Premises and equipment, gross	$ 2,404	$ 2,409

FDIC Indemnification Asset (Rol

FDIC Indemnification Asset (Rollforward of the FDIC Indemnification Asset) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Rollforward of the FDIC indemnification asset
FDIC indemnification asset, beginning	$ 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)
FDIC indemnification asset, ending

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Sep. 01, 2017	Mar. 03, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Amortization expense of intangible assets				$ 6,763	$ 4,240	$ 1,211
Net increase in goodwill	$ 88,677	$ 5,330	$ 66,540
Intangible asset	$ 9,880	271	$ 8,790
Additional amortization expense of servicing assets				846	207
Servicing assets added during the period				$ 3,278	$ 1,779
Customer Lists [Member]
Intangible assets acquired		$ 3,644

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Summary of the Gross Carrying Amount and Accumulated Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Amortizable intangible assets:
Gross Carrying Amount	$ 41,228	$ 37,790
Accumulated Amortization	20,116	13,353
Unamortizable intangible assets:
Goodwill	234,368	233,070
Customer Lists [Member]
Amortizable intangible assets:
Gross Carrying Amount	6,013	6,013
Accumulated Amortization	1,637	1,090
Core Deposit Intangible [Member]
Amortizable intangible assets:
Gross Carrying Amount	28,440	28,280
Accumulated Amortization	16,469	11,475
SBA servicing asset [Member]
Amortizable intangible assets:
Gross Carrying Amount	5,472	2,194
Accumulated Amortization	1,053	207
Other Intangible Assets [Member]
Amortizable intangible assets:
Gross Carrying Amount	1,303	1,303
Accumulated Amortization	$ 957	$ 581

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Schedule of the Estimated Amortization Expense) (Details) $ in Thousands	Dec. 31, 2018USD ($)
The estimated amortization expense for five succeeding years:
2,019	$ 5,649
2,020	4,549
2,021	3,549
2,022	2,459
2,023	1,398
Thereafter	3,508
Total	$ 21,112

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred income tax - unrealized gains (losses) on available for sale securities		$ (2,379)	$ 321
Deferred income tax - pension adjustments		(5)	668
Change in net deffered tax asset			159
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		1,814	$ 8,485
Reduce the corporate tax rate			21.00%
Prior maximum effective rate			35.00%
Tax benefit	$ 1,300	$ 24,189	$ 21,767	$ 14,624

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Allocated to net income	$ 1,300	$ 24,189	$ 21,767	$ 14,624
Allocated to stockholders' equity, for unrealized holding gain/loss on		(2,379)	321	(685)
Allocated to stockholders' equity, for tax benefit of pension liabilities		(5)	668	(36)
Total income taxes		$ 21,805	$ 22,756	$ 13,903

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Current - Federal		$ 19,188	$ 11,286	$ 12,827
- State		3,187	1,996	1,679
Deferred - Federal		1,658	7,742	16
- State		156	743	102
Income tax expense (benefit)	$ 1,300	$ 24,189	$ 21,767	$ 14,624

Income Taxes (Scheule of Deferr

Income Taxes (Scheule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Allowance for loan losses	$ 4,917	$ 5,448
Excess book over tax pension plan cost	92
Deferred compensation	367	1,220
Federal & state net operating loss and tax credit carryforwards	631	2,125
Accruals, book versus tax	3,036	2,546
Pension liability adjustments	752	748
Foreclosed real estate	715	740
Basis differences in assets acquired in FDIC transactions	1,121	1,311
Nonqualified stock options	240	248
Partnership investments	208	232
Unrealized gain on securities available for sale	2,895	517
SBA servicing asset	310	139
All other	42	42
Gross deferred tax assets	15,326	15,316
Less: Valuation allowance	(36)	(44)
Net deferred tax assets	15,290	15,272
Deferred tax liabilities:
Loan fees	(2,484)	(1,880)
Excess book over tax pension plan cost		(95)
Depreciable basis of fixed assets	(4,278)	(3,122)
Amortizable basis of intangible assets	(7,921)	(7,915)
FHLB stock dividends	(721)	(658)
Trust preferred securities	(528)	(616)
Purchase accounting adjustments	(122)	(2,133)
All other		(28)
Gross deferred tax liabilities	(16,054)	(16,447)
Net deferred tax asset (liability) - included in other assets	$ (764)	$ (1,175)

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Tax provision at statutory rate		$ 23,830	$ 23,709	$ 14,746
Increase (decrease) in income taxes resulting from:
Tax-exempt interest income		(1,117)	(1,461)	(1,202)
Low income housing and AMT tax credits		(698)	(596)	(192)
Non-deductible interest expense		27	24	16
State income taxes, net of federal benefit		2,639	1,780	1,158
Change in valuation allowance		(8)	(1)	(24)
Impact of tax reform			(1,269)
Other, net		(484)	(419)	122
Income tax expense (benefit)	$ 1,300	$ 24,189	$ 21,767	$ 14,624

Time Deposits and Related Par_3

Time Deposits and Related Party Deposits (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Time Deposits and Related Party Deposits [Abstract]
Deposits received from officers and directors	$ 1,000	$ 3,800
Time deposits of $250,000 or more	503,100	405,100
FDIC insurance limit for insured deposits	250
Brokered deposits	$ 239,900	$ 234,000

Time Deposits and Related Par_4

Time Deposits and Related Party Deposits (Schedule of Maturities of Time Deposits) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Time Deposits and Related Party Deposits [Abstract]
2,019	$ 753,537
2,020	117,229
2,021	48,477
2,022	21,726
2,023	13,136
Thereafter	817
Total time deposits	$ 954,922

Borrowings and Borrowings Ava_3

Borrowings and Borrowings Availability (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Borrowings	$ 406,609	$ 407,543
First Bancorp Capital Trust II [Member]
Borrowings	10,300
First Bancorp Capital Trust III [Member]
Borrowings	10,300
First Bank Corp Capital Trust IV [Member]
Borrowings	25,800
Carolina Capital Trust [Member]
Borrowings	10,300
FHLB Line of Credit [Member]
Line of credit, borrowing capacity	1,040,000
Line of credit, outstanding	353,000	354,000
Line of credit, amount reduced	190,000	198,000
Line of credit, amount unused	502,000	384,000
Federal Funds Line of Credit [Member]
Line of credit, borrowing capacity	35,000	$ 35,000
FRB Line of Credit [Member]
Line of credit, borrowing capacity	$ 127,000

Borrowings and Borrowings Ava_4

Borrowings and Borrowings Availability (Schedule of debt) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Total borrowings / weighted average rate as of December 31, 2018	$ 409,550,000	$ 410,665,000
Unamortized discount on acquired borrowings	(2,941,000)	(3,122,000)
Total borrowings	$ 406,609,000	$ 407,543,000
Weighted average interest rate	2.68%	1.72%
Federal Home Loan Bank Term Note One [Member]
Maturity date	Jan. 10, 2019	Jan. 5, 2018
Total borrowings	$ 68,000,000	$ 135,000,000
Weighted average interest rate	2.47%	1.36%
Federal Home Loan Bank Term Note Two [Member]
Maturity date	Jan. 17, 2019	Jan. 29, 2018
Total borrowings	$ 135,000,000	$ 68,000,000
Weighted average interest rate	2.49%	1.41%
Federal Home Loan Bank Term Note Three [Member]
Maturity date	Jan. 24, 2019	Apr. 18, 2018
Total borrowings	$ 20,000,000	$ 50,000,000
Weighted average interest rate	2.54%	1.25%
Federal Home Loan Bank Term Note Four [Member]
Maturity date	Jan. 31, 2019	Jun. 26, 2018
Total borrowings	$ 20,000,000	$ 20,000,000
Weighted average interest rate	2.53%	1.67%
Federal Home Loan Bank Term Note Five [Member]
Maturity date	Jan. 31, 2019	Sep. 28, 2018
Total borrowings	$ 10,000,000	$ 10,000,000
Weighted average interest rate	2.53%	1.52%
Federal Home Loan Bank Term Note Six [Member]
Maturity date	Apr. 18, 2019	Dec. 24, 2018
Total borrowings	$ 50,000,000	$ 20,000,000
Weighted average interest rate	2.36%	1.57%
Federal Home Loan Bank Term Note Seven [Member]
Maturity date	May 29, 2020	May 29, 2020
Total borrowings	$ 40,000,000	$ 40,000,000
Weighted average interest rate	1.62%	1.62%
Federal Home Loan Bank Principal Reducing Credit One [Member]
Maturity date	Jul. 24, 2023	Jul. 24, 2023
Total borrowings	$ 210,000	$ 250,000
Weighted average interest rate	1.00%	1.00%
Federal Home Loan Bank Principal Reducing Credit Two [Member]
Maturity date	Dec. 22, 2023	Dec. 22, 2023
Total borrowings	$ 1,065,000	$ 1,100,000
Weighted average interest rate	1.25%	1.25%
Federal Home Loan Bank Principal Reducing Credit Three [Member]
Maturity date	Jan. 15, 2026	Jan. 15, 2026
Total borrowings	$ 7,500,000	$ 8,500,000
Weighted average interest rate	1.98%	1.98%
Federal Home Loan Bank Principal Reducing Credit Four [Member]
Maturity date	Jun. 26, 2028	Jun. 26, 2028
Total borrowings	$ 255,000	$ 264,000
Weighted average interest rate	0.25%	0.25%
Federal Home Loan Bank Principal Reducing Credit Five [Member]
Maturity date	Jul. 17, 2028	Jul. 17, 2028
Total borrowings	$ 61,000	$ 66,000
Weighted average interest rate	0.00%	0.00%
Federal Home Loan Bank Principal Reducing Credit Six [Member]
Maturity date	Aug. 18, 2028	Aug. 18, 2028
Total borrowings	$ 188,000	$ 195,000
Weighted average interest rate	1.00%	1.00%
Federal Home Loan Bank Principal Reducing Credit Seven [Member]
Maturity date	Aug. 22, 2028	Aug. 22, 2028
Total borrowings	$ 188,000	$ 195,000
Weighted average interest rate	1.00%	1.00%
Federal Home Loan Bank Principal Reducing Credit Eight [Member]
Maturity date	Dec. 20, 2028	Dec. 20, 2028
Total borrowings	$ 376,000	$ 391,000
Weighted average interest rate	0.50%	1.50%
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	5.22%	4.08%
Variable rate description	5.22% at 12/31/2018 adjustable rate 3 month LIBOR + 2.70%	4.08% at 12/31/2017 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	4.18%	2.98%
Variable rate description	4.18% at 12/31/2018 adjustable rate 3 month LIBOR + 1.39%	2.98% at 12/31/2017 adjustable rate 3 month LIBOR + 1.39%
Trust Preferred Securities 3 [Member]
Maturity date	Jan. 7, 2035	Jan. 7, 2035
Total borrowings	$ 10,310,000	$ 10,310,000
Weighted average interest rate	4.44%	3.36%
Variable rate description	4.44% at 12/31/2018 adjustable rate 3 month LIBOR + 2.00%	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, 2018	Dec. 31, 2017	Dec. 31, 2016
Leases [Abstract]
Rent expense	$ 2.3	$ 2.3	$ 1.5

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Lease Payments, Operating Lease) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Year ending December 31:
2,019	$ 2,268
2,020	1,973
2,021	1,344
2,022	869
2,023	768
Thereafter	4,082
Total	$ 11,304

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 02, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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%	100.00%
Percent matched by company 3-5 percent of employee salary			50.00%	50.00%
Percent matched by company up to 6 percent of employee salary	100.00%
Matching contributions		$ 3,600	$ 2,300	$ 1,600
Pension Plan [Member]
Accumulated benefit obligation		$ 36,354	$ 38,150	$ 36,840
Expected average annual rate of return		2.75%
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		$ 5,794	$ 5,970	$ 5,910

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in benefit obligation
Benefit obligation at beginning of year	$ 38,150	$ 36,840	$ 36,164
Service cost
Interest cost	1,312	1,449	1,502
Actuarial (gain) loss	(1,160)	1,941	1,288
Benefits paid	(1,948)	(2,080)	(2,114)
Benefit obligation at end of year	36,354	38,150	36,840
Change in plan assets
Plan assets at beginning of year	41,306	36,950	35,489
Actual return on plan assets	(188)	6,436	3,575
Employer contributions
Benefits paid	(1,948)	(2,080)	(2,114)
Plan assets at end of year	39,170	41,306	36,950
Funded status at end of year	$ 2,816	$ 3,156	$ 110

Employee Benefit Plans (Sched_2

Employee Benefit Plans (Schedule of Amounts Recognized in Balance Sheet) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other assets	$ 2,816	$ 3,156
Other liabilities
Total	$ 2,816	$ 3,156

Employee Benefit Plans (Sched_3

Employee Benefit Plans (Schedule of Amounts Recognized in Other Comprehensive Income) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Net gain (loss)	$ (4,034)	$ (3,925)
Prior service cost
Amount recognized in AOCI before tax effect	(4,034)	(3,925)
Tax (expense) benefit	943	1,452
Net amount recognized as increase (decrease) to AOCI	$ (3,091)	$ (2,473)

Employee Benefit Plans (Sched_4

Employee Benefit Plans (Schedule of Reconciliation of Balances in AOCI) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net gain (loss) arising during period	$ (41)	$ 1,601	$ (557)
Pension Plan [Member]
Accumulated other comprehensive loss at beginning of fiscal year	(2,909)	(3,692)
Net gain (loss) arising during period	(143)	1,686
Amortization of unrecognized actuarial loss	34	244
Tax (expense) benefit of changes during the year, net	(73)	(711)
Accumulated other comprehensive gain (loss) at end fiscal year	(3,091)	(2,473)
Reclassification from AOCI to Retained Earnings due to statutory tax changes		(436)
Accumulated other comprehensive gain (loss) at end of fiscal year	$ (3,091)	$ (2,909)	$ (3,692)

Employee Benefit Plans (Sched_5

Employee Benefit Plans (Schedule of Reconciliation of Prepaid Pension Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension Plan [Member]
Prepaid pension cost (liability) as of beginning of fiscal year	$ 7,082	$ 5,965
Net periodic pension cost for fiscal year	(231)	1,117	$ 958
Actual employer contributions
Benefits paid	(1,948)	(2,080)	(2,114)
Prepaid pension cost (liability) as of end of fiscal year	6,851	7,082	5,965
SERP [Member]
Prepaid pension cost (liability) as of beginning of fiscal year	(6,695)	(6,754)
Net periodic pension cost for fiscal year	(311)	(311)	(309)
Benefits paid	(398)	(370)
Prepaid pension cost (liability) as of end of fiscal year	$ (6,608)	$ (6,695)	$ (6,754)

Employee Benefit Plans (Sched_6

Employee Benefit Plans (Schedule of Net Pension Costs) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Service cost - benefits earned during the period
Interest cost on projected benefit obligation	1,312	1,449	1,502
Expected return on plan assets	(1,115)	(2,810)	(2,698)
Net amortization and deferral	34	244	238
Net periodic pension (income) cost	$ 231	$ (1,117)	$ (958)

Employee Benefit Plans (Sched_7

Employee Benefit Plans (Schedule of Expected Benefit Payments) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Pension Plan [Member]
Year ending December 31, 2019	$ 1,735
Year ending December 31, 2020	1,792
Year ending December 31, 2021	1,898
Year ending December 31, 2022	1,957
Year ending December 31, 2023	2,000
Years ending December 31, 2024-2028	10,582
SERP [Member]
Year ending December 31, 2019	411
Year ending December 31, 2020	408
Year ending December 31, 2021	401
Year ending December 31, 2022	391
Year ending December 31, 2023	380
Years ending December 31, 2024-2028	$ 1,970

Employee Benefit Plans (Sched_8

Employee Benefit Plans (Schedule of Fair Value of Plan Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets	$ 267
Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets	38,903	41,306
Significant Unobservable Inputs (Level 3) [Member]
Fair value of plan assets
Fair Value Total [Member]
Fair value of plan assets	39,170	41,306
Cash and cash equivalents (money market fund) [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets	267
Cash and cash equivalents (money market fund) [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets		41,306
Cash and cash equivalents (money market fund) [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair value of plan assets
Cash and cash equivalents (money market fund) [Member] | Fair Value Total [Member]
Fair value of plan assets	267	$ 41,306
Investment funds - Fixed income funds [Member] | Quoted Prices in Market for Identical Assets (Level 1) [Member]
Fair value of plan assets
Investment funds - Fixed income funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets	38,903
Investment funds - Fixed income funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair value of plan assets
Investment funds - Fixed income funds [Member] | Fair Value Total [Member]
Fair value of plan assets	$ 38,903

Employee Benefit Plans (Sched_9

Employee Benefit Plans (Schedule of Reconciliation of Benefit Obligation - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in benefit obligation
Benefit obligation at beginning of year	$ 5,970	$ 5,910	$ 5,778
Service cost	124	118	106
Interest cost	200	227	238
Actuarial (gain) loss	(102)	85	145
Benefits paid	(398)	(370)	(357)
Benefit obligation at end of year	5,794	5,970	5,910
Plan assets at end of year
Funded status at end of year	$ (5,794)	$ (5,970)	$ (5,910)

Employee Benefit Plans (Sche_10

Employee Benefit Plans (Schedule of Amounts Recognized in Balance Sheet - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other assets - prepaid pension asset (liability)	$ (6,608)	$ (6,695)
Other assets (liabilities)	814	725
Total	$ (5,794)	$ (5,970)

Employee Benefit Plans (Sche_11

Employee Benefit Plans (Schedule of Amounts Recognized in Other Comprehensive Income - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net gain (loss)	$ 814	$ 725
Prior service cost
Amount recognized in AOCI before tax effect	814	725
Tax (expense) benefit	(190)	(268)
Net amount recognized as increase (decrease) to AOCI	$ 624	$ 457	$ 533

Employee Benefit Plans (Sche_12

Employee Benefit Plans (Schedule of Reconciliation of Balances in AOCI - SERP) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net gain (loss) arising during period	$ (41)	$ 1,601	$ (557)
SERP [Member]
Accumulated other comprehensive loss at beginning of fiscal year	457	533
Net gain (loss) arising during period	102	(85)
Prior service cost
Amortization of unrecognized actuarial loss	(13)	(34)
Amortization of prior service cost and transition obligation
Tax benefit (expense) related to changes during the year, net	78	43
Accumulated other comprehensive gain (loss) at end fiscal year	$ 624	$ 457	$ 533

Employee Benefit Plans (Sche_13

Employee Benefit Plans (Schedule of Net Pension Costs - SERP) (Details) - SERP [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Service cost - benefits earned during the period	$ 124	$ 118	$ 106
Interest cost on projected benefit obligation	200	227	238
Net amortization and deferral	(13)	(34)	(35)
Net periodic pension (income) cost	$ 311	$ 311	$ 309

Employee Benefit Plans (Sche_14

Employee Benefit Plans (Schedule of Assumptions Used in Determining Actuarial Information) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pension Plan [Member]
Discount rate used to determine net periodic pension cost	3.46%	3.97%	4.17%
Discount rate used to calculate end of year liability disclosures	4.08%	3.46%	3.97%
Expected long-term rate of return on assets	2.75%	7.75%	7.75%
Rate of compensation increase
SERP [Member]
Discount rate used to determine net periodic pension cost	3.46%	3.97%	4.17%
Discount rate used to calculate end of year liability disclosures	3.92%	3.46%	3.97%
Expected long-term rate of return on assets
Rate of compensation increase

Commitments, Contingencies, a_3

Commitments, Contingencies, and Concentrations of Credit Risk (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Bank Standby Letters of credit	$ 15,700	$ 15,200
Marketable securities to any one issuer or guarantor, threshold	5,000
FDIC-insured, amount	250
Federal Home Loan Bank of Atlanta [Member]
Deposits	135,400
Federal Reserve Bank [Member]
Deposits	246,200
PCBB [Member]
Deposits	$ 200

Commitments, Contingencies, a_4

Commitments, Contingencies, and Concentrations of Credit Risk (Schedule of Outstanding Loan Commitments) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Outstanding closed-end loan commitments	$ 670,103
Unfunded commitments on revolving lines of credit, credit cards and home equity loans	618,691
Commitments, total	1,288,794
Fixed Rate [Member]
Outstanding closed-end loan commitments	209,726
Unfunded commitments on revolving lines of credit, credit cards and home equity loans	149,898
Commitments, total	359,624
Variable Rate [Member]
Outstanding closed-end loan commitments	460,377
Unfunded commitments on revolving lines of credit, credit cards and home equity loans	468,793
Commitments, total	$ 929,170

Commitments, Contingencies, a_5

Commitments, Contingencies, and Concentrations of Credit Risk (Schedule of Maximum Credit Risk for Securities) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Fannie Mae - mortgage-backed securities [Member]
Amortized cost, Available for sale and held to maturity	$ 191,839
Fair value, Available for sale and held to maturity	186,735
Ginnie Mae - mortgage-backed securities [Member]
Amortized cost, Available for sale and held to maturity	127,358
Fair value, Available for sale and held to maturity	123,593
Federal Home Loan Bank System - bonds [Member]
Amortized cost, Available for sale and held to maturity	70,495
Fair value, Available for sale and held to maturity	70,421
Small Business Administration securities [Member]
Amortized cost, Available for sale and held to maturity	26,878
Fair value, Available for sale and held to maturity	25,977
Federal Home Loan Bank of Atlanta - common stock [Member]
Amortized cost, Available for sale and held to maturity	20,036
Fair value, Available for sale and held to maturity	20,036
Federal Reserve Bank - Common [Stock Member]
Amortized cost, Available for sale and held to maturity	17,432
Fair value, Available for sale and held to maturity	17,432
Freddie Mac - mortgage-backed securities [Member]
Amortized cost, Available for sale and held to maturity	98,608
Fair value, Available for sale and held to maturity	95,285
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	6,879
Citigroup, Inc. corporate bond [Member]
Amortized cost, Available for sale and held to maturity	6,028
Fair value, Available for sale and held to maturity	5,921
Goldman Sachs Group Inc. corporate bond [Member]
Amortized cost, Available for sale and held to maturity	5,073
Fair value, Available for sale and held to maturity	4,937
JP Morgan Chase corporate bond [Member]
Amortized cost, Available for sale and held to maturity	5,018
Fair value, Available for sale and held to maturity	4,904
Fannie Mae - bond [Member]
Amortized cost, Available for sale and held to maturity	5,000
Fair value, Available for sale and held to maturity	4,871
Federal Farm Credit Bank - bond [Member]
Amortized cost, Available for sale and held to maturity	5,000
Fair value, Available for sale and held to maturity	$ 4,921

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value of Financial Instruments [Abstract]
Increase (decrease) in fair value of securities available for sale	$ 10,179	$ 639
Tax benefit (expense) of increase in the fair value of securities available for sale	$ 2,379	$ 234

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Financial instruments Measured at Fair Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Securities available for sale:
Securities available for sale	$ 501,351	$ 343,270
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
Securities available for sale
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale:
Government-sponsored enterprise securities	82,662	13,867
Mortgage-backed securities	385,551	295,213
Corporate bonds	33,138	34,190
Equity securities
Securities available for sale	501,351	343,270
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Securities available for sale:
Government-sponsored enterprise securities
Mortgage-backed securities
Corporate bonds
Securities available for sale
Recurring [Member] | Fair Value [Member]
Securities available for sale:
Government-sponsored enterprise securities	82,662	13,867
Mortgage-backed securities	385,551	295,213
Corporate bonds	33,138	34,190
Equity securities
Securities available for sale	501,351	343,270
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	13,071	14,086
Foreclosed real estate	7,440	12,571
Nonrecurring [Member] | Fair Value [Member]
Securities available for sale:
Impaired loans	13,071	14,086
Foreclosed real estate	$ 7,440	$ 12,571

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Level 3 assets and liabilities measured at fair value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Foreclosed real estate	$ 7,440	$ 12,571
Impaired Loans [Member]
Impaired loans	$ 13,071	$ 14,086
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	$ 7,440	$ 12,571
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 Instr_6

Fair Value of Financial Instruments (Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	$ 56,050	$ 114,301
Securities available for sale	501,351	343,270
Securities held to maturity	101,237	118,503
Total loans, net of allowance	4,228,025	4,019,071
Accrued interest receivable	16,004	14,094
FDIC Indemnification Asset				$ 8,439
Bank-owned life insurance	101,878	99,162
Accrued interest payable	1,976	1,235
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
SBA Servicing Asset	3	3
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	56,050	114,301
Due from banks, interest-bearing	406,848	375,189
Securities available for sale	501,351	343,270
Securities held to maturity	101,237	118,503
Presold mortgages in process of settlement	4,279	12,459
Total loans, net of allowance	4,228,025	4,019,071
Accrued interest receivable	16,004	14,094
Bank-owned life insurance	101,878	99,162
SBA Servicing Asset	4,419	1,987
Deposits	4,659,339	4,406,955
Borrowings	406,609	407,543
Accrued interest payable	1,976	1,235
Fair Value [Member]
Carrying amounts and estimated fair values of financial instruments:
Cash and due from banks, noninterest-bearing	56,050	114,301
Due from banks, interest-bearing	406,848	375,189
Securities available for sale	501,351	343,270
Securities held to maturity	99,906	118,998
Presold mortgages in process of settlement	4,279	12,459
Total loans, net of allowance	4,181,139	4,010,551
Accrued interest receivable	16,004	14,094
Bank-owned life insurance	101,878	99,162
SBA Servicing Asset	4,617	1,987
Deposits	4,653,522	4,401,757
Borrowings	402,556	397,903
Accrued interest payable	$ 1,976	$ 1,235

Equity-Based Compensation Pla_3

Equity-Based Compensation Plans (Narrative) (Details) - USD ($)	1 Months Ended		12 Months Ended				48 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Stock based compensation expense				$ 1,569,000	$ 1,095,000	$ 714,000
Stock based compensation, income tax benefit				367,000	405,000	264,000
Proceeds from stock options exercised				$ 324,000	287,000	375,000
Restricted Stock [Member] | Subsequent Event [Member]
Stock based compensation expense			$ 1,218,000
First Bancorp Plans [Member] | 2014 Equity Plan [Member]
Shares remaining available for grant				750,707			750,707
Two Equity-Based Plans [Member]
Vesting period				10 years
Exercise price				$ 14.35			$ 14.35
Exercise date				Jun. 1, 2019
Stock options outstanding				9,000			9,000
Director [Member]
Stock based compensation expense				$ 352,000
Employees Grants [Member]
Stock based compensation expense				1,217,000
Non-Employee Directors [Member]
Stock based compensation expense	$ 352,000	$ 320,000
Shares granted to directors	8,393	11,190
Shares granted per director	763	1,119
Shares granted to directors, Per share	$ 41.93	$ 28.59
Senior Executives [Member] | Restricted Stock [Member]
Total compensation expense associated with senior executives grants				1,410,000			$ 1,410,000
Stock based compensation expense				$ 293,000	282,000	220,000
Vesting period				3 years
Grants in period (options)							54,529
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				$ 924,000	$ 491,000	$ 366,000	$ 3,621,000
Vesting period							3 years
Grants in period (options)							117,704

Equity-Based Compensation Pla_4

Equity-Based Compensation Plans (Schedule of Outstanding Restricted Stock) (Details) - Long-Term Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of Units:
Nonvested, beginning	103,063	91,790	55,329
Granted during the period	66,060	48,322	65,255
Vested during the period	(35,703)	(28,514)	(28,794)
Forfeited or expired during the period	(4,169)	(8,535)
Nonvested, ending	129,251	103,063	91,790
Weighted-Average Grant-Date Fair Value:
Nonvested, beginning	$ 24.08	$ 18.65	$ 17.31
Granted during the period	40.04	31.05	19.40
Vested during the period	22.82	20.05	17.79
Forfeited or expired during the period	29.99	18.34
Nonvested, ending	$ 32.39	$ 24.08	$ 18.65

Equity-Based Compensation Pla_5

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of shares:
Balance options outstanding, beginning	38,689	59,948	117,408
Granted
Exercised	(29,689)	(21,259)	(23,710)
Forfeited
Expired			(33,750)
Balance options outstanding, end	9,000	38,689	59,948
Exercisable, end of period	9,000
Weighted-Average Exercise Price
Balance, beginning	$ 16.09	$ 17.18	$ 18.12
Granted
Exercised	16.61	19.16	15.84
Forfeited
Expired			21.39
Outstanding	14.53	$ 16.09	$ 17.18
Exercisable	$ 14.53
Weighted- Average Contractual Term (years), outstanding	5 months 1 day
Weighted- Average Contractual Term (years), exercisable	5 months 1 day
Aggregate Intrinsic Value, exercised	$ 659,743	$ 236,584	$ 81,894
Aggregate Intrinsic Value, outstanding	163,038
Aggregate Intrinsic Value, exercisable	$ 163,038

Regulatory Restrictions (Narrat

Regulatory Restrictions (Narrative) (Details)	Dec. 31, 2018USD ($)
Regulatory Restrictions [Abstract]
Restricted investment in bank	$ 582,000,000
Average reserve balance	$ 3,553,000

Regulatory Restrictions (Schedu

Regulatory Restrictions (Schedule of Capital Ratios) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Company [Member]
Amount
Common equity Tier 1 capital ratio, actual	$ 535,566	$ 456,826
Total capital ratio, actual	609,428	532,907
Tier I capital ratio, actual	587,764	508,791
Leverage ratio, actual	587,764	508,791
Common equity Tier 1 capital ratio, fully phased-in regulatory guidelines minimum	305,287	298,406
Total capital ratio, fully phased-in regulatory guidelines minimum	457,930	447,609
Tier I capital ratio, fully phased-in regulatory guidelines minimum	370,705	362,350
Leverage ratio, for capital adequacy purposes	$ 224,014	$ 212,536
Ratio
Common equity Tier 1 capital ratio, actual	12.28%	10.72%
Total capital ratio, actual	13.97%	12.50%
Tier I capital ratio, actual	13.48%	11.94%
Leverage ratio, actual	10.50%	9.58%
Common equity Tier 1 capital ratio, fully phased-in regulatory guidelines minimum	7.00%	7.00%
Total capital ratio, for capital adequacy purposes	10.47%	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	$ 586,053	$ 507,496
Total capital ratio, actual	607,717	531,612
Tier I capital ratio, actual	586,053	507,496
Leverage ratio, actual	586,053	507,496
Common equity Tier 1 capital ratio, fully phased-in regulatory guidelines minimum	305,163	298,277
Total capital ratio, fully phased-in regulatory guidelines minimum	457,745	447,416
Tier I capital ratio, fully phased-in regulatory guidelines minimum	370,555	362,194
Leverage ratio, for capital adequacy purposes	224,406	212,224
Common equity Tier 1 capital ratio, to be well capitalized under prompt corrective action provisions	283,366	276,972
Total capital ratio, to be well capitalized under prompt corrective action provisions	435,948	426,111
Tier I capital ratio, to be well capitalized under prompt corrective action provisions	348,758	340,889
Leverage ratio, to be well capitalized under prompt corrective action provisions	$ 280,508	$ 265,281
Ratio
Common equity Tier 1 capital ratio, actual	13.44%	11.91%
Total capital ratio, actual	13.94%	12.48%
Tier I capital ratio, actual	13.44%	11.91%
Leverage ratio, actual	10.45%	9.57%
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 Statemen_3

Supplementary Income Statement Information (Schedule of Components of Other Noninterest Income/Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplementary Income Statement Information [Abstract]
Other service charges, commissions, and fees - debit card interchange income	$ 10,466	$ 7,732	$ 6,564
Other service charges, commissions, and fees - other interchange income	4,140	3,722	3,018
Other operating expenses - dues and subscriptions (includes software subscriptions)	3,431	1,889	1,604
Other operating expenses - credit/debit card processing expense	3,411	2,797	2,296
Other operating expenses - data processing expense	3,234	2,910	2,010
Other operating expenses - marketing	3,065	2,549	1,999
Other operating expenses - telephone and data line expense	3,024	2,470	2,311
Other operating expenses - stationery and supplies	2,582	2,399	2,066
Other operating expenses - FDIC insurance expense	2,333	2,350	2,009
Other operating expenses - outside consultants	1,820	2,511	1,700
Other operating expenses - repossession and collection	$ 1,366	$ 1,736	$ 1,842

Condensed Parent Company Info_3

Condensed Parent Company Information (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash on deposit with bank subsidiary	$ 462,898	$ 489,490	$ 305,993	$ 267,268
Premises and equipment	119,000	116,233
Other assets	66,524	64,677
Total assets	5,864,116	5,547,037
Liabilities and shareholders' equity
Trust preferred securities	406,609	407,543
Other liabilities	31,962	38,325
Total liabilities	5,099,886	4,854,058
Shareholders' equity	764,230	692,979	368,101	342,190
Total liabilities and shareholders' equity	5,864,116	5,547,037
Parent Company [Member]
Assets
Cash on deposit with bank subsidiary	5,544	4,535	$ 4,530	$ 3,816
Investment in wholly-owned subsidiaries, at equity	816,648	745,669
Premises and equipment	7	7
Other assets
Total assets	822,199	750,211
Liabilities and shareholders' equity
Trust preferred securities	53,902	53,758
Other liabilities	4,067	3,474
Total liabilities	57,969	57,232
Shareholders' equity	764,230	692,979
Total liabilities and shareholders' equity	$ 822,199	$ 750,211

Condensed Parent Company Info_4

Condensed Parent Company Information (Condensed Statements of Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest expense	$ (23,777)	$ (12,671)	$ (7,607)
Net income	89,289	45,972	27,509
Preferred stock dividends			(175)
Net income available to common shareholders	89,289	45,972	27,334
Parent Company [Member]
Dividends from wholly-owned subsidiaries	15,525	52,732	9,000
Earnings of wholly-owned subsidiaries, net of dividends	77,050	(4,793)	20,517
Interest expense	(2,498)	(1,867)	(1,216)
All other income and expenses, net	(788)	(100)	(792)
Net income	89,289	45,972	27,509
Preferred stock dividends			(175)
Net income available to common shareholders	$ 89,289	$ 45,972	$ 27,334

Condensed Parent Company Info_5

Condensed Parent Company Information (Condensed Statements of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Activities:
Net income	$ 89,289	$ 45,972	$ 27,509
Decrease in other assets	3,525	6,724	(724)
Increase (decrease) in other liabilities	(6,629)	(10,729)	2,868
Net cash provided by operating activities	46,410	26,838	41,271
Investing Activities:
Net cash paid in acquisitions		72,519	(53,640)
Net cash used by investing activities	(313,279)	(128,532)	(240,112)
Financing Activities:
Stock withheld for payment of taxes	(406)	(231)	(166)
Net cash provided by financing activities	240,277	285,191	237,566
Net increase (decrease) in cash	(26,592)	183,497	38,725
Cash and Cash Equivalents, Beginning of Year	489,490	305,993	267,268
Cash and Cash Equivalents, End of Year	462,898	489,490	305,993
Parent Company [Member]
Operating Activities:
Net income	89,289	45,972	27,509
Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries)	(77,050)	4,793	(20,517)
Decrease in other assets	(13)	283	15
Increase (decrease) in other liabilities	146	(67)	130
Net cash provided by operating activities	12,372	50,981	7,137
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	(11,281)	(7,596)	(6,632)
Proceeds from issuance of common stock	324	287	375
Stock withheld for payment of taxes	(406)	(231)	(166)
Net cash provided by financing activities	(11,363)	(7,540)	(6,423)
Net increase (decrease) in cash	1,009	5	714
Cash and Cash Equivalents, Beginning of Year	4,535	4,530	3,816
Cash and Cash Equivalents, End of Year	$ 5,544	$ 4,535	$ 4,530

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 21, 2012	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2012	Mar. 31, 2017
Preferred stock dividends				$ 175
Carolina Bank [Member]
Deferred compensation plan		$ 3,200	$ 4,500			$ 7,700
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				$ 175,000
Common Stock [Member]
Stock issued, shares					2,656,294
Common Stock [Member] | Series C Preferred Stock [Member]
Net proceeds from the sale of preferred and common stock	$ 33,800

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Book values and approximate fair values of investment securities
Service charges on deposit accounts		$ 12,690	$ 11,862	$ 10,571
Interchange income		14,606	11,454	9,582
Other fees		5,339	3,156	2,331
Fees from presold mortgage loans	[1]	2,735	5,695	2,033
Commissions from sales of insurance and financial products:
Insurance income		6,038	3,148	1,763
Wealth management income		2,693	2,152	2,027
SBA consulting fees		4,675	4,024	3,199
SBA loan sale gains	[1]	10,366	5,479	1,433
Bank-owned life insurance income		2,534	2,321	2,052
Foreclosed property gains (losses), net		(565)	(531)	(625)
FDIC indemnification asset income (expense), net	[1]			(10,255)
Securities gains (losses), net	[1]		(235)	3
Gain on branch sale	[1]			1,466
Other gains (losses), net	[1]	723	383	(29)
Total noninterest income		$ 61,834	$ 48,908	$ 25,551
[1]	Not within the scope of ASC 606.