Sep. 14, 2009 (PR Newswire) --

TROY, N.C., Sept. 14 /PRNewswire-FirstCall/ -- First Bancorp (Nasdaq: FBNC), the parent company of First Bank, announced today that First Bancorp was recently recognized by investment banking firm Sandler O'Neill & Partners, L.P., as one of the top performing small-cap banks in the nation for the second year in a row. New York-based Sandler O'Neill is one of the best-known and most highly regarded investment firms specializing in the commercial banking industry.

Out of 509 publicly traded banks and thrifts with a market cap of less than $2 billion, First Bancorp was one of only 30 institutions in the nation that was selected to Sandler O'Neill's "Sm-All Star" list for 2009. First Bancorp was one of only eight institutions to be selected for this list in both 2008 and 2009, and First Bancorp was the only North Carolina bank on the 2009 list. The Sandler O'Neill analysis focused on growth, profitability, credit quality, and capital strength.

Jerry L. Ocheltree, President and Chief Executive Officer, said, "We are very pleased to be recognized as one of the nation's elite banks for the second year in a row. We thank our customers who allow us to provide them with their community banking services. Without our customers, this honor would not be possible."

First Bancorp is a bank holding company headquartered in Troy, North Carolina with total assets of approximately $3.5 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 98 branches, with 83 branches operating in the central piedmont and coastal regions of North Carolina, 10 branches in South Carolina (Cheraw, Dillon, Florence, Latta, Jefferson, Myrtle Beach and Little River), and 5 branches in Virginia (Abingdon, Dublin, Fort Chiswell, Radford, and Wytheville), where First Bank does business as First Bank of Virginia. First Bank also has a loan production office in Blacksburg, Virginia. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC."

Please visit our website at www.FirstBancorp.com.

SOURCE First Bancorp