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First Bancorp to Acquire First Carolina Bancshares in $166 Million Deal

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First Bancorp (FBNC) said Tuesday it has signed a definitive agreement to acquire First Carolina Bancshares in a stock-and-cash deal valued at $166 million.

The deal price consists of $40 million in cash and about 2 million First Bancorp shares, based on its stock price of $64.22 as of Monday, the bank said.

The acquisition is expected to close in Q4 2026 or early Q1 2027, subject to customary closing conditions and First Carolina shareholder and regulatory approvals, First Bancorp said.

First Bancorp shares were up 2.3% in Tuesday's premarket trading.

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