FIRST BANK AWARDS $130,000 IN GRANTS TO LOCAL ORGANIZATIONS

PR Newswire

SOUTHERN PINES, N.C., May 7, 2024

See accompanying photo

SOUTHERN PINES, N.C., May 7, 2024 /PRNewswire/ -- First Bank launched its unique Power of Good Grants by awarding 20 grants, totaling over $130,000, to organizations throughout the Carolinas. The first set of awards, with more to come, are a component of the Power of Good initiative, First Bank's corporate citizenship program that steers the organization's philanthropic efforts and volunteerism. The Power of Good focuses on the key areas of affordable housing, food scarcity/insecurity, education and health & wellness. In addition to the grants, the Power of Good encompasses paid volunteer time off and company-matched donations for each associate, the First Bank Book Club, the annual "Out of This World Educator" Awards, Good Deeds Week, Teach Children to Save financial education, multiple housing programs through Habitat for Humanities, and more.

First Bank received nearly 200 applications and a diverse team of reviewers conscientiously evaluated each one. The decision was extremely difficult, but ultimately the following organizations were awarded funds:

From Western North Carolina

From Central North Carolina

From Eastern North Carolina

From South Carolina

"First Bank firmly believes that the success of our company is directly tied to the wellness of our community. We think giving to these hyperlocal organizations and groups that are instrumental in shaping and supporting that wellness is a good investment. I am extremely proud that First Bank and its associates make such an effort to give back to the communities where we live and work and want to continue doing so as long as we can," said Mike Mayer, First Bank CEO. 

Between 2022 and the first part of 2024 First Bank has donated nearly $1.5million to various organizations and individuals making a difference in communities around the Carolinas. The announcement of the grant recipients coincides with the bank's recent accolades including being named Best Bank by Cary Magazine and a BEST Employer in the Triad area by Triad Business Journal. Furthermore, our associates and others engaged in over 100 "good deeds" for Good Deeds Week observed from April 18-26, 2024.

Grant applications for Round 2 winners are now being considered (winners announced in early July), and Round 3 applications are now being accepted and will be awarded in early fall. Each is reviewed by a panel of First Bank associates as well as community stakeholders. For official information about the grant application and process please visit https://localfirstbank.com/power-of-good-grants/

About us:

First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $12.1 billion. As a state-chartered community bank, First Bank operates 118 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.

Winners throughout the Carolinas receiving their grant checks with friends from First Bank.

(PRNewsfoto/First Bancorp)

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/first-bank-awards-130-000-in-grants-to-local-organizations-302138693.html

SOURCE First Bank