First Bank Wins Mastercard's Doing Well By Doing Good Award

SOUTHERN PINES, N.C., Aug. 31, 2021 /PRNewswire/ -- First Bank has been selected by Mastercard for the Doing Well by Doing Good Award in its third annual Mastercard Community Institution Segment Awards.

The Doing Well by Doing Good award is being given in recognition of the bank's "unique and meaningful approach in leveraging its assets and strategies to positively serve and impact the community in 2020," according to a statement from Mastercard.

The Community Institution Segment Awards were created to bring attention to Mastercard's partners and to celebrate their achievements. It has three categories:

1. Innovation: most creative and impactful use of technology.
2. Doing Well by Doing Good: best use of assets in community service or charitable contributions.
3. Optimizing Operations: best use of streamlining operational efficiencies within an organization.

"The Doing Well by Doing Good Award perfectly captures everything we've been aiming to do, especially over the last year in the face of COVID and everything else," said Mike Mayer, First Bank president and CEO. "Our team has taken their community commitment to the next level, and it shows in all that we've done and continue to do."

This award comes shortly after First Bank was recognized by Forbes as the Best-In-State Bank in North Carolina and was the only company on the list for the state. This was the third time the bank had made the list and the second year in a row that it appeared as the top selection in NC by the publication. First Bank also recently announced the acquisition of Select Bank, a deal that is expected to close in the fourth quarter of this year. Upon completion of the acquisition, the combined company is expected to have over $9 billion in assets, $6 billion in loans, and $8 billion in deposits.

First Bank's website is at www.LocalFirstBank.com.

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 $8.2 billion. As a state-chartered community bank, First Bank operates 100 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