[LOGO] First Bancorp


                                  News Release

For Immediate Release:                                     For More Information,
September 27, 2005                                     Contact:  James H. Garner
                                                                    910-576-6171


           First Bancorp Announces Election of Chief Operating Officer



      TROY,  N.C.  - The Board of  Directors  of First  Bancorp  (NASDAQ - FBNC)
announced today that Anna G. Hollers has been named Chief  Operating  Officer of
First Bancorp and First Bank, the Company's  principal banking  subsidiary.  Ms.
Hollers will also  continue  serving as Executive  Vice  President and Corporate
Secretary of both companies.  Ms. Hollers has been with First Bank for 33 years,
serving in many different capacities during her career.

      "This is an advancement for Anna that is important and most deserved" said
James H. Garner,  President and CEO of First Bancorp.  "Anna has been a valuable
leader at our company for a long time, and so much of our success over the years
is  attributable  to her  efforts.  I'm very happy that the board has decided to
name Anna as Chief Operating Officer."

      Jerry Ocheltree, recently named President of First Bank, also commented on
the  announcement.  "This is great news for First Bank," he said.  "Anna Hollers
has been one of the key players in building  First Bank, and we will all benefit
from her serving in this role. I know already from personal experience how great
Anna is to work with, and I look forward to continuing that  relationship in the
years to come."

      First Bancorp is a bank holding company based in Troy, North Carolina with
total  assets of  approximately  $1.7  billion.  Its  principal  activity is the
ownership and  operation of First Bank, a  state-chartered  community  bank that
operates 60 branch  offices,  with 54 branches  operating  in a nineteen  county
market  area in the central  piedmont  region of North  Carolina,  3 branches in
Dillon County,  South Carolina,  and 3 branches in Virginia (Abingdon,  Radford,
and Wytheville), where First Bank does business as First Bank of Virginia. First
Bancorp's  common stock is traded on the NASDAQ National Market under the symbol
FBNC.

     Please visit our website at www.firstbancorp.com. For additional
information, please contact:
                  Mr. James H. Garner
                  President & Chief Executive Officer
                  Telephone: (910) 576-6171