First Bank Makes $55,000 In Donations To Support Children, Fight Hunger

Rhea-AI Summary

First Bank, North Carolina's largest community bank, announced a series of charitable donations totaling $55,000, aimed at supporting food security and youth programs in the region. Beneficiaries include NourishNC for a new facility, the Boys & Girls Club for a gym renovation, the United Way of Asheville, and Feeding the Carolinas. President Mike Mayer emphasized the bank's commitment to aiding vulnerable communities, building on previous outreach initiatives throughout 2020. First Bancorp, the bank's parent company, trades on NASDAQ under the symbol FBNC.

Positive

• Total charitable donations of $55,000 to support local initiatives.
• Focus on community support enhances brand image and local engagement.
• Increased support for food security and programs aiding vulnerable populations.

Negative

• None.

SOUTHERN PINES, N.C, Dec. 17, 2020 /PRNewswire/ -- First Bank, North Carolina's largest community bank, made a number of donations of this week to charities within its footprint. These include:

• NourishNC: to support the construction of a new, larger facility that will increase access to and efficiency of its many programs, as well as provide additional storage for fresh and nonperishable food donations.
• The Boys & Girls Club of the Sandhills: in support of a capital project that will allow the nonprofit to purchase and refurbish a new gym for the program.
• The United Way of Asheville and Buncombe County: in support of their many programs and grants to local nonprofits designed to lift up those who are most vulnerable and at risk.
• Feeding the Carolinas: in support of those food banks and charitable agencies in the bank's footprint that help feed thousands and support those in need.

"Now, more than ever, it is so important to fulfill our mission as a pillar of support in the Carolinas," said Mike Mayer, First Bank president and CEO. "Our hope is that these donations, in combination with everything else that First Bank team members have done in 2020, will help those who need it most as we look ahead to 2021 and to hopefully brighter days."

These donations are in addition to several other initiatives First Bank began this year, including the establishment of an annual scholarship at Shaw University (Raleigh, NC), the 12 Days of Giving campaign (currently underway bank-wide in each branch and department), the sponsorship of the EverFi National Financial Bee and subsequent local scholarships this April, and its continued support of and financing for numerous chapters of Habitat for Humanity across the state.

About First Bank

First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $7.1 billion. As a state-chartered community bank, First Bank operates 101 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC." Visit our website at www.LocalFirstBank.com. Member FDIC, Equal Housing Lender.

 

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SOURCE First Bank

FAQ

What charitable donations did First Bank announce on December 17, 2020?

First Bank announced $55,000 in donations to NourishNC, the Boys & Girls Club, the United Way of Asheville, and Feeding the Carolinas.

How does First Bank support its community?

First Bank supports its community through financial donations and various outreach initiatives aimed at aiding local nonprofits and vulnerable populations.

What is the stock symbol for First Bancorp?

The stock symbol for First Bancorp is FBNC, which is traded on the NASDAQ.

What is the significance of the 2020 donations by First Bank?

The donations reflect First Bank's commitment to community support, particularly in addressing food insecurity and supporting youth programs during challenging times.