FIRST BANK NAMES NEW CIO TO ITS EXECUTIVE LEADERSHIP

Rhea-AI Summary

First Bank, headquartered in Southern Pines, North Carolina, has appointed Terrence Thomas as its new Chief Information Officer as of May 9, 2022. Thomas, formerly with Goldman Sachs, will oversee the bank's technology and innovation strategies, enhancing service delivery and security for customers. His extensive background in engineering and technology management positions him to contribute significantly to First Bank's ongoing growth and development.

Positive

• Appointment of Terrence Thomas as CIO enhances leadership team.
• Thomas brings extensive experience from Goldman Sachs, likely improving technology and security.

Negative

• None.

SOUTHERN PINES, N.C., May 9, 2022 /PRNewswire/ -- First Bank, the fifth largest bank headquartered in North Carolina, has added to its executive leadership team with the hire of Terrence Thomas as its Chief Information Officer.

Thomas moved to Greensboro, North Carolina from the greater New York City area where he was most recently the VP of Workplace Engineering, Architecture & Strategy for Goldman Sachs. At First Bank, Thomas will manage the Information Technology, Information Security, and Data Management teams, and will lead strategic projects for the bank to ensure continued safety, soundness, and innovation for First Bank customers, employees, and shareholders.

Mike Mayer, president and CEO of First Bank noted of Thomas joining the team, "We are excited to welcome Terrence to our team. Given our growth, we felt it appropriate to continue to upgrade our talent in all areas of our company, including technology. We look forward to the extensive experience he will bring to our organization." Mayer went on to note, "Technology is helping drive our industry and Terrence is the perfect fit for us in this role."

Thomas, originally from Mississippi, received his Bachelor of Science in Electrical Engineering from the University of Mississippi and his MBA in Technology Management, Graduate Certificate in Project Management and his MSc in Telecommunications Management from Stevens Institute of Technology. When asked about his move to First Bank he said, "What's most exciting about starting at First Bank is getting to know all of the team members and customers. Technology gives us the ability to create top-of-the-line experiences for everyone, and I'm very excited for those possibilities."  He also noted "First Bank is a first-class institution with a culture that makes me feel like I'm home.  It's an amazing opportunity."

Thomas joined the team on May 9, 2022, and his office is in the bank's regional headquarters at 101 N. Spring St., Greensboro. When not innovating daily for work, he enjoys spending time with family, working out, running, and playing basketball, and is excited to get back to being involved in the community.

About us:
First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $10.7 billion. As a state-chartered community bank, First Bank operates 110 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

Who is the new Chief Information Officer of FBNC?

Terrence Thomas has been appointed as the new Chief Information Officer of First Bank (FBNC).

When did Terrence Thomas join FBNC?

Terrence Thomas joined First Bank (FBNC) on May 9, 2022.

What is Terrence Thomas's background?

Terrence Thomas previously served as VP of Workplace Engineering at Goldman Sachs and holds degrees in Electrical Engineering and Technology Management.

What are the responsibilities of the new CIO at FBNC?

The new CIO will manage Information Technology, Information Security, and Data Management teams, leading strategic projects for First Bank.