First Bancorp operates as the bank holding company for First Bank that provides various banking services to individuals and small to medium-sized businesses. It offers deposit products, such as checking, savings, NOW, and money market accounts, as well as time deposits, including certificates of deposits and individual retirement accounts. The company also provides loans for various consumer and commercial purposes comprising loans for business, agriculture, real estate, personal uses, home improvement, and automobiles. In addition, it offers credit cards, debit cards, letters of credit, and safe deposit box rental services, as well as electronic funds transfer services, consisting of wire transfers. Further, the company provides Internet banking, mobile banking, cash management, and bank-by-phone capabilities, as well as access to approximately 67,000 automated teller machines. Additionally, it engages in the placement of property and casualty insurance products. As of May 22, 2012, the company operated 97 branches, including 82 branches in North Carolina, 9 branches in South Carolina, and 6 branches in Virginia, as well as 1 loan production office in Blacksburg, Virginia. First Bancorp was founded in 1934 and is headquartered in Troy, North Carolina.