SOUTHERN PINES, N.C. - First Bancorp (NASDAQ:FBNC), a North Carolina-based bank holding company, announced the retirement of Mason Y. Garrett from its Board of Directors, effective July 26, 2024. Garrett, a seasoned banker with over five decades of experience, has been a significant figure in the banking sector, particularly in the Carolinas.
Garrett's banking career includes founding and leading GrandSouth Bank as Chairman and CEO until its merger with First Bancorp in 2023. He also co-founded First United Bancorporation in 1984 and served as its CEO until its sale to Regions Financial Corporation (NYSE:RF) in March 1998. At First Bancorp, Garrett was a member of the Executive & Loan Committee of First Bank (NASDAQ:FRBA).
Richard Moore, Chairman of the Board of Directors and CEO of First Bancorp, acknowledged Garrett's contributions, stating, "On behalf of the Board of Directors, I want to thank Mason for his years of dedicated service and commitment to the banking industry in the Carolinas."
First Bancorp, headquartered in Southern Pines, operates First Bank, which has 113 branches across North Carolina and South Carolina. The company focuses on tailored banking solutions, local expertise, and technology for managing personal and business finances. Additionally, First Bank provides SBA loans through its nationwide network of lenders.
The company, with total assets of $12.1 billion, trades its common stock on The NASDAQ Global Select Market under the symbol "FBNC."
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