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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street NW
Washington, D.C. 29549
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Form 8-K
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PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 14, 2003
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First Bancorp
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(Exact Name of Registrant as Specified in its Charter)
North Carolina 0-15572 56-1421916
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
341 North Main Street, Troy, North Carolina 27371
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(Address of Principal Executive Offices) (Zip Code)
(910) 576-6171
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(Registrant's telephone number, including area code)
Not Applicable
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(Former Name or Former Address, if changed since last report)
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First Bancorp
INDEX
Page
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Item 7 - Exhibits 3
Item 9 - Regulation FD 3
Signatures 4
Exhibit 99 (a) News Release dated August 14, 2003 5
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Item 7 -- Exhibits
99(a) Additional Exhibits - News Release dated August 14, 2003
Item 9 -- Regulation FD Disclosure
On August 14, 2003, the Registrant issued a news release to announce that
it has reached a definitive agreement to purchase four RBC Centura Bank branches
located in Wallace, Kenansville, Fairmont, and Harmony, all in North Carolina.
The terms of the agreement call for First Bancorp to acquire the premises and
equipment for each location, as well as assume substantially all of the deposits
and loans of each branch. Subject to certain limitations, the deposit premium
for the branches is 14.1%. As of June 30, 2003, the four branches had aggregate
deposits of approximately $109 million with loans outstanding of approximately
$28 million. The transaction is subject to regulatory approval and is expected
to occur in the fourth quarter of 2003.
The news release is attached hereto as Exhibit 99(a) and is incorporated by
reference.
Disclosures About Forward Looking Statements
The discussions included in this document and its exhibits may contain
forward looking statements within the meaning of the Private Securities
Litigation Act of 1995, including Section 21E of the Securities Exchange Act of
1934 and Section 27A of the Securities Act of 1933. Such statements involve
known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially. For the purposes of these discussions, any
statements that are not statements of historical fact may be deemed to be
forward looking statements. Such statements are often characterized by the use
of qualifying words such as "expects," "anticipates," "believes," "estimates,"
"plans," "projects," or other statements concerning opinions or judgments of the
Company and its management about future events. The accuracy of such forward
looking statements could be affected by such factors as, including but not
limited to, difficulties or delays in obtaining regulatory approval for the
acquisitions, the discovery of unanticipated or unknown problems relating to the
assets or deposits being acquired, difficulty integrating the operations of the
acquired branches into First Bank's operations, the loss of key employees, the
financial success or changing conditions or strategies of the Company's
customers or vendors, fluctuations in interest rates, actions of government
regulators, the availability of capital and personnel or general economic
conditions.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
First Bancorp
August 14, 2003 By: /s/ James H. Garner
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James H. Garner
President and Chief Executive Officer
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