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<DIV align="right"><FONT size="2">Registration
No.&nbsp;333-______</FONT></DIV>

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<DIV align="center"><FONT size="4"><B>SECURITIES AND EXCHANGE
COMMISSION</B></FONT></DIV>
<DIV align="center"><FONT size="2"><B>Washington, D.C. 20549</B></FONT></DIV>

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<P align="center"><FONT size="4"><B>Form&nbsp;S-8</B></FONT>

<P align="center"><FONT size="2">REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933
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<P align="center"><FONT size="4"><B>FIRST BANCORP</B></FONT><BR>
<FONT size="2">(Exact name of registrant, as specified in its charter)
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        <TD align="center" valign="top"><FONT size="2">North Carolina</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
56-1421916</FONT></TD>
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        <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(I.R.S. Employer)<BR>
Identification No.)</FONT></TD>
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<P align="center"><FONT size="2">341 North Main Street, P.O. Box 508, Troy, North Carolina 27371-0508<BR>
(Address of Principal Executive Offices)
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<P align="center"><FONT size="2">AMENDED AND RESTATED FIRST BANCORP<BR>
CCB NON-QUALIFIED STOCK OPTION PLAN<BR>
(Full Title of the Plan)
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<P align="center"><FONT size="2">James H. Garner<BR>
President, Chief Executive Officer and Treasurer<BR>
341 North Main Street<BR>
Post Office Box 508<BR>
Troy, North Carolina 27371-0508<BR>
(Name and Address of Agent For Service)
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<P align="center"><FONT size="2">(910)&nbsp;576-6171<BR>
(Telephone Number, Including Area Code, of Agent For Service)
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<P align="center"><FONT size="2">Copy to:<BR>
Henry H. Ralston, Esq.<BR>
Robinson, Bradshaw &#038; Hinson, P.A.<BR>
101 North Tryon Street<BR>
Suite&nbsp;1900<BR>
Charlotte, North Carolina 28246<BR>
(704)&nbsp;377-2536
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<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>

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        <TD width="7%">&nbsp;</TD>
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        <TD width="3%">&nbsp;</TD>
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        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>Title of Each Class of Securities</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount To Be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price Per</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount Of</B></FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>To Be Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered (1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Unit (2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price</B></FONT></TD>
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        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
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        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Stock, no par value,
issuable under the First Bancorp
CCB Non-Qualified Stock Option
Plan</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">52,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">6.25</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">325,000.00</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">26.29</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Represents the number of unexercised options outstanding under the plan,
which was assumed in connection with the merger of Carolina Community
Bancshares, Inc. into the Registrant, multiplied by
two times the exchange ratio of 0.8 as set forth in the merger agreement for
such merger. Pursuant to Rule&nbsp;416 under the Securities Act of 1933, this
registration statement also relates to an indeterminate number of additional
shares of Common Stock issuable with respect to the shares registered hereunder
in the event of a stock split, stock dividend or other similar transaction.</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Represents the original exercise price of all unexercised options
outstanding under the plan assumed in connection with the merger of Carolina
Community Bancshares, Inc. into the Registrant, divided by two times the
exchange ratio of 0.8 as set forth in the merger agreement for such merger,
resulting in the new exercise price.</FONT></TD>
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<P align="center"><FONT size="2"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation by Reference.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents are incorporated by reference into this
registration statement:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; The Registrant&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 2001;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; The Company&#146;s Quarterly Reports on Form&nbsp;10-Q for the fiscal quarters
ended September&nbsp;30, 2002, June&nbsp;30, 2002, and March&nbsp;31, 2002;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; The Registrant&#146;s Current Report on Form&nbsp;8-K filed with the Securities
and Exchange Commission (the &#147;Commission&#148;) on July&nbsp;17, 2002;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp; The description of the Registrant&#146;s common stock contained in the
Registrant&#146;s Registration Statement on Form&nbsp;S-4 filed with the Commission on
March&nbsp;16, 2001, and Amendment No.&nbsp;1 thereto filed with the Commission on April
18, 2001;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp; All documents subsequently filed by the Registrant with the Commission
pursuant to Section&nbsp;13(a), 13(c), 14 and 15(d) of the Securities Exchange Act
of 1934, as amended (the &#147;Exchange Act&#148;) after the date of this registration
statement and prior to the filing of a post-effective amendment which indicates
that all securities offered by this registration statement have been sold or
which deregisters all securities then remaining unsold; and
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp; All other reports filed by the Registrant pursuant to Section&nbsp;13(a) or
15(d) of the Exchange Act since the end of its latest fiscal year.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;55-2-02 of the North Carolina Business Corporation Act (the
&#147;Business Corporation Act&#148;) enables a corporation in its articles of
incorporation to eliminate or limit, with certain exceptions, the personal
liability of a director for monetary damages for breach of duty as a director.
No such provision is effective to eliminate or limit a director&#146;s liability for
(i)&nbsp;acts or omissions that the director at the time of the breach knew or
believed to be clearly in conflict with the best interests of the corporation,
(ii)&nbsp;improper distributions as described in Section&nbsp;55-8-33 of the Business
Corporation Act, (iii)&nbsp;any transaction from which the director derived an
improper personal benefit or (iv)&nbsp;acts or omissions occurring prior to the date
the exculpatory provision became effective. The Registrant&#146;s articles of
incorporation limit the personal liability of its directors to the fullest
extent permitted by the Business Corporation Act.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;55-8-50 through 55-8-58 of the Business Corporation Act permit a
corporation to indemnify its directors, officers, employees or agents under
either or both a statutory or nonstatutory scheme of indemnification. Under
the statutory scheme, a corporation may, with certain exceptions, indemnify a
director, officer, employee or agent of the corporation who was, is, or is
threatened to be made, a party to any threatened, pending or completed legal
action, suit or proceeding, whether civil, criminal, administrative, or
investigative because of the fact that such person was or is a director,
officer, agent or employee of the corporation, or is or was serving at the
request of such corporation as a director, officer, employee or agent of
another corporation or enterprise. This indemnity may include the obligation
to pay any judgment, settlement, penalty, fine (including an excise tax
assessed with respect to an employee benefit plan) or reasonable expenses
incurred in connection with a proceeding (including counsel fees), but no such
indemnification may be granted unless such director, officer, employee or agent
(i)&nbsp;conducted himself in good faith, (ii)&nbsp;reasonably believed (1)&nbsp;that any
action taken in his official capacity with the corporation was in the best
interests of the corporation or (2)&nbsp;that in all other cases his conduct was not
opposed to the corporation&#146;s best interests, and (iii)&nbsp;in the case of any
criminal proceeding, had no reasonable cause to believe his conduct was
unlawful. Whether a director has met the
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<P><FONT size="2">requisite standard of conduct for the type of indemnification set forth
above is determined by the board of directors, a committee of directors,
special legal counsel or the shareholders in accordance with Section&nbsp;55-8-55 of
the Business Corporation Act. A corporation may not indemnify a director under
the statutory scheme in connection with a proceeding by or in the right of the
corporation in which a director was adjudged liable to the corporation or in
connection with any other proceeding in which a director was adjudged liable on
the basis of having received an improper personal benefit.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to, and notwithstanding the conditions of and limitations on,
the indemnification described above under the statutory scheme, Section&nbsp;55-8-57
of the Business Corporation Act permits a corporation to indemnify, or agree to
indemnify, any of its directors, officers, employees or agents against
liability and expenses (including counsel fees) in any proceeding (including
proceedings brought by or on behalf of the corporation) arising out of their
status as such or their activities in such capacities, except for any
liabilities or expenses incurred on account of activities that were, at the
time taken, known or believed by the person to be clearly in conflict with the
best interests of the corporation. The Registrant&#146;s bylaws provide for
indemnification to the fullest extent permitted under the Business Corporation
Act, and the Registrant has separate indemnification agreements with various
current and past directors and officers.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because of its agreements to indemnify, the Registrant may indemnify its
directors, officers, employees and agents in accordance with either the
statutory or nonstatutory standard. Sections&nbsp;55-8-52 and 55-8-56 of the
Business Corporation Act require a corporation, unless its articles of
incorporation provide otherwise, to indemnify a director or officer who has
been wholly successful, on the merits or otherwise, in the defense of any
proceeding to which such director or officer was, or was threatened to be, made
a party because he is or was a director or officer of the corporation. Unless
prohibited by the articles of incorporation, a director or officer also may
make application and obtain court-ordered indemnification if the court
determines that such director or officer is fairly and reasonably entitled to
such indemnification as provided in Sections&nbsp;55-8-54 and 55-8-56 of the
Business Corporation Act.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally, Section&nbsp;55-8-57 of the Business Corporation Act authorizes a
corporation to purchase and maintain insurance on behalf of an individual who
is or was a director, officer, employee or agent of the corporation against
certain liabilities incurred by such a person, whether or not the corporation
is otherwise authorized by the Business Corporation Act to indemnify that
person. The Registrant has purchased and maintains such insurance.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits.</B></FONT>

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        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
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        <TD nowrap align="center"><FONT size="1"><B>Exhibit Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD>&nbsp;<BR></TD>
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        <TD valign="top"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Copy of Articles of Incorporation of the Registrant and amendments thereto
were filed as Exhibits 3.a.i-3.a.v to the Registrant&#146;s Quarterly Report on
Form&nbsp;10-Q for the period ended June&nbsp;30, 2002, and are incorporated herein by
reference.</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Copy of the Bylaws of the Registrant was filed as Exhibit&nbsp;3.b to the
Registrant&#146;s Annual Report on<BR>
Form&nbsp;10-K for the year ended December&nbsp;31, 2001,
and is incorporated herein by reference.</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Form of common stock certificate, filed as Exhibit&nbsp;4 to the Registrant&#146;s
Quarterly Report on Form&nbsp;10-Q for the quarter ended June&nbsp;30, 1999, is
incorporated herein by reference.</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Robinson, Bradshaw &#038; Hinson, P.A.</FONT></TD>
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        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Robinson, Bradshaw &#038; Hinson, P.A. (contained
in Exhibit&nbsp;5.1)</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of KPMG LLP.</FONT></TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Powers of Attorney (included on signature page to this registration statement)</FONT></TD>
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<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings.</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; The undersigned Registrant hereby undertakes:
</FONT>
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        <TD width="3%"></TD>
        <TD width="97%"></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:</FONT></TD>
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        <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(i)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="87%"><FONT size="2">to include any prospectus
required by Section&nbsp;10(a)(3) of the Securities Act
of 1933, as amended (the &#147;Securities Act&#148;);</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(ii)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">to reflect in the prospectus
any facts or events arising after the effective date
of this registration statement (or the most recent
post-effective amendment hereof) which, individually
or in the aggregate, represent a fundamental change
in the information set forth in this registration
statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered
(if the total dollar value of securities offered
would not exceed that which was registered) and any
deviation from the low or high end of the estimated
maximum offering range may be reflected in the form
of prospectus filed with the Commission pursuant to
Rule&nbsp;424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in
the &#147;Calculation of Registration Fee&#148; table in the
effective registration statement; and</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(iii)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">to include any material
information with respect to the plan of distribution
not previously disclosed in this registration
statement or any material change to such information
in this registration statement;</FONT></TD>
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<P><FONT size="2"><I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the
Exchange Act that are incorporated by reference in this registration statement.
</FONT>
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        <TD width="3%"></TD>
        <TD width="97%"></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be
deemed to be the initial <I>bona fide </I>offering thereof.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold
at the termination of the offering.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefit plan&#146;s annual
report pursuant to section 15(d) of the Exchange Act) that is incorporated by
reference in this registration statement shall be deemed to be a new
registration statement relating to the securities offered herein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona
fide </I>offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; The undersigned Registrant hereby undertakes that insofar as
indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it
is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">&nbsp;</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Troy, State of North Carolina on the 25th day of
February, 2003.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="45%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="44%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" align="left" valign="top"><FONT size="2">First Bancorp</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">/s/ James H. Garner</FONT></TD>
</TR>
<TR>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">James H. Garner</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">President, Chief Executive Officer and Treasurer</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the undersigned hereby constitutes and appoints James H. Garner,
Anna G. Hollers and Eric P. Credle, and each of them, with full power to act
without the other and with full power of substitution and resubstitution, his
true and lawful attorneys-in-fact and agents, for him and in his name, place,
and stead, in any and all capacities, to sign on his behalf any and all
amendments (including post-effective amendments and amendments thereto) to this
registration statement and any related registration statement (and any
amendments thereto) filed pursuant to Rule&nbsp;462(b) under the Securities Act, and
to file the same, with all exhibits thereto and other documents in connection
therewith, with the Commission, and grants unto said attorneys-in-fact and
agents, and each of them, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the
premises as fully as to all intents and purposes as he might or could do in
person, and hereby ratifies and confirms all that such attorneys-in-fact or
agents, or any of them, or their substitutes shall lawfully do or cause to be
done by virtue hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
registration statement or amendment thereto has been signed by the following
persons in the capacities indicated on the 25th day of February, 2003.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">
<TR valign="bottom">
        <TD width="56%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="39%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ James H. Garner</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ Anna G. Hollers</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">James H. Garner</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Anna G. Hollers</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">President, Chief Executive Officer, Treasurer
and Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Executive Vice President and Secretary</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">(Principal Executive Officer)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
        <TD valign="top"><FONT size="2">/s/ Eric P. Credle
<HR size="1" noshade>
Eric P. Credle</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Senior Vice President and Chief Financial Officer</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">(Principal Financial Officer
and Principal Accounting Officer)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Jesse S. Capel</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ William E. Samuels</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Jesse S. Capel</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
William E. Samuels</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Chairman of the Board</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Vice-Chairman of the Board</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Jack D. Briggs</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ Edward T. Taws</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Jack D. Briggs</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Edward T. Taws</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ H. David Bruton, M.D.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ Frederick H. Taylor</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">H. David Bruton, M.D.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Frederick H. Taylor</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ David L. Burns</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ Virginia C. Thomasson</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">David L. Burns</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Virginia C. Thomasson</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ John F. Burns</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ Goldie H. Wallace-Gainey</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">John F. Burns</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Goldie H. Wallace-Gainey</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">
<TR valign="bottom">
        <TD width="56%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="39%">&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ James G. Hudson, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ A. Jordan Washburn</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">James G. Hudson, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
A. Jordan Washburn</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ George R. Perkins, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ Dennis A. Wicker</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">George R. Perkins, Jr.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Dennis A. Wicker</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Thomas F. Phillips</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ John C. Willis</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Thomas F. Phillips</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
John C. Willis</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;</FONT>
</BODY>
</HTML>
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{"company-data": {"conformed-name": "FIRST BANCORP /NC/", "cik": "0000811589", "assigned-sic": "6022", "irs-number": "561421916", "state-of-incorporation": "NC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-103741", "film-number": "03599419"}, "business-address": {"street1": "341 NORTH MAIN ST", "street2": "PO BOX 508", "city": "TROY", "state": "NC", "zip": "27371-0508", "phone": "9105766171"}}
FIRST BANCORP
Registration
No. 333-______
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
FIRST BANCORP
(Exact name of registrant, as specified in its charter)
North Carolina
56-1421916
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer)
Identification No.)
341 North Main Street, P.O. Box 508, Troy, North Carolina 27371-0508
(Address of Principal Executive Offices)
AMENDED AND RESTATED FIRST BANCORP
CCB NON-QUALIFIED STOCK OPTION PLAN
(Full Title of the Plan)
James H. Garner
President, Chief Executive Officer and Treasurer
341 North Main Street
Post Office Box 508
Troy, North Carolina 27371-0508
(Name and Address of Agent For Service)
(910) 576-6171
(Telephone Number, Including Area Code, of Agent For Service)
Copy to:
Henry H. Ralston, Esq.
Robinson, Bradshaw & Hinson, P.A.
101 North Tryon Street
Suite 1900
Charlotte, North Carolina 28246
(704) 377-2536
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Each Class of Securities
Amount To Be
Offering Price Per
Aggregate Offering
Amount Of
To Be Registered
Registered (1)
Unit (2)
Price
Registration Fee
Common Stock, no par value,
issuable under the First Bancorp
CCB Non-Qualified Stock Option
Plan
52,000
$
6.25
$
325,000.00
$
26.29
(1)
Represents the number of unexercised options outstanding under the plan,
which was assumed in connection with the merger of Carolina Community
Bancshares, Inc. into the Registrant, multiplied by
two times the exchange ratio of 0.8 as set forth in the merger agreement for
such merger. Pursuant to Rule 416 under the Securities Act of 1933, this
registration statement also relates to an indeterminate number of additional
shares of Common Stock issuable with respect to the shares registered hereunder
in the event of a stock split, stock dividend or other similar transaction.
(2)
Represents the original exercise price of all unexercised options
outstanding under the plan assumed in connection with the merger of Carolina
Community Bancshares, Inc. into the Registrant, divided by two times the
exchange ratio of 0.8 as set forth in the merger agreement for such merger,
resulting in the new exercise price.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation by Reference.
The following documents are incorporated by reference into this
registration statement:
(a)  The Registrant's Annual Report on Form 10-K for the fiscal year ended
December 31, 2001;
(b)  The Company's Quarterly Reports on Form 10-Q for the fiscal quarters
ended September 30, 2002, June 30, 2002, and March 31, 2002;
(c)  The Registrant's Current Report on Form 8-K filed with the Securities
and Exchange Commission (the "Commission") on July 17, 2002;
(d)  The description of the Registrant's common stock contained in the
Registrant's Registration Statement on Form S-4 filed with the Commission on
March 16, 2001, and Amendment No. 1 thereto filed with the Commission on April
18, 2001;
(e)  All documents subsequently filed by the Registrant with the Commission
pursuant to Section 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act
of 1934, as amended (the "Exchange Act") after the date of this registration
statement and prior to the filing of a post-effective amendment which indicates
that all securities offered by this registration statement have been sold or
which deregisters all securities then remaining unsold; and
(f)  All other reports filed by the Registrant pursuant to Section 13(a) or
15(d) of the Exchange Act since the end of its latest fiscal year.
Item 6. Indemnification of Directors and Officers.
Section 55-2-02 of the North Carolina Business Corporation Act (the
"Business Corporation Act") enables a corporation in its articles of
incorporation to eliminate or limit, with certain exceptions, the personal
liability of a director for monetary damages for breach of duty as a director.
No such provision is effective to eliminate or limit a director's liability for
(i) acts or omissions that the director at the time of the breach knew or
believed to be clearly in conflict with the best interests of the corporation,
(ii) improper distributions as described in Section 55-8-33 of the Business
Corporation Act, (iii) any transaction from which the director derived an
improper personal benefit or (iv) acts or omissions occurring prior to the date
the exculpatory provision became effective. The Registrant's articles of
incorporation limit the personal liability of its directors to the fullest
extent permitted by the Business Corporation Act.
Sections 55-8-50 through 55-8-58 of the Business Corporation Act permit a
corporation to indemnify its directors, officers, employees or agents under
either or both a statutory or nonstatutory scheme of indemnification. Under
the statutory scheme, a corporation may, with certain exceptions, indemnify a
director, officer, employee or agent of the corporation who was, is, or is
threatened to be made, a party to any threatened, pending or completed legal
action, suit or proceeding, whether civil, criminal, administrative, or
investigative because of the fact that such person was or is a director,
officer, agent or employee of the corporation, or is or was serving at the
request of such corporation as a director, officer, employee or agent of
another corporation or enterprise. This indemnity may include the obligation
to pay any judgment, settlement, penalty, fine (including an excise tax
assessed with respect to an employee benefit plan) or reasonable expenses
incurred in connection with a proceeding (including counsel fees), but no such
indemnification may be granted unless such director, officer, employee or agent
(i) conducted himself in good faith, (ii) reasonably believed (1) that any
action taken in his official capacity with the corporation was in the best
interests of the corporation or (2) that in all other cases his conduct was not
opposed to the corporation's best interests, and (iii) in the case of any
criminal proceeding, had no reasonable cause to believe his conduct was
unlawful. Whether a director has met the
requisite standard of conduct for the type of indemnification set forth
above is determined by the board of directors, a committee of directors,
special legal counsel or the shareholders in accordance with Section 55-8-55 of
the Business Corporation Act. A corporation may not indemnify a director under
the statutory scheme in connection with a proceeding by or in the right of the
corporation in which a director was adjudged liable to the corporation or in
connection with any other proceeding in which a director was adjudged liable on
the basis of having received an improper personal benefit.
In addition to, and notwithstanding the conditions of and limitations on,
the indemnification described above under the statutory scheme, Section 55-8-57
of the Business Corporation Act permits a corporation to indemnify, or agree to
indemnify, any of its directors, officers, employees or agents against
liability and expenses (including counsel fees) in any proceeding (including
proceedings brought by or on behalf of the corporation) arising out of their
status as such or their activities in such capacities, except for any
liabilities or expenses incurred on account of activities that were, at the
time taken, known or believed by the person to be clearly in conflict with the
best interests of the corporation. The Registrant's bylaws provide for
indemnification to the fullest extent permitted under the Business Corporation
Act, and the Registrant has separate indemnification agreements with various
current and past directors and officers.
Because of its agreements to indemnify, the Registrant may indemnify its
directors, officers, employees and agents in accordance with either the
statutory or nonstatutory standard. Sections 55-8-52 and 55-8-56 of the
Business Corporation Act require a corporation, unless its articles of
incorporation provide otherwise, to indemnify a director or officer who has
been wholly successful, on the merits or otherwise, in the defense of any
proceeding to which such director or officer was, or was threatened to be, made
a party because he is or was a director or officer of the corporation. Unless
prohibited by the articles of incorporation, a director or officer also may
make application and obtain court-ordered indemnification if the court
determines that such director or officer is fairly and reasonably entitled to
such indemnification as provided in Sections 55-8-54 and 55-8-56 of the
Business Corporation Act.
Additionally, Section 55-8-57 of the Business Corporation Act authorizes a
corporation to purchase and maintain insurance on behalf of an individual who
is or was a director, officer, employee or agent of the corporation against
certain liabilities incurred by such a person, whether or not the corporation
is otherwise authorized by the Business Corporation Act to indemnify that
person. The Registrant has purchased and maintains such insurance.
Item 8. Exhibits.
Exhibit Number
Description
4.1
Copy of Articles of Incorporation of the Registrant and amendments thereto
were filed as Exhibits 3.a.i-3.a.v to the Registrant's Quarterly Report on
Form 10-Q for the period ended June 30, 2002, and are incorporated herein by
reference.
4.2
Copy of the Bylaws of the Registrant was filed as Exhibit 3.b to the
Registrant's Annual Report on
Form 10-K for the year ended December 31, 2001,
and is incorporated herein by reference.
4.3
Form of common stock certificate, filed as Exhibit 4 to the Registrant's
Quarterly Report on Form 10-Q for the quarter ended June 30, 1999, is
incorporated herein by reference.
5.1
Opinion of Robinson, Bradshaw & Hinson, P.A.
23.1
Consent of Robinson, Bradshaw & Hinson, P.A. (contained
in Exhibit 5.1)
23.2
Consent of KPMG LLP.
24.1
Powers of Attorney (included on signature page to this registration statement)
Item 9. Undertakings.
(a)  The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:
(i)
to include any prospectus
required by Section 10(a)(3) of the Securities Act
of 1933, as amended (the "Securities Act");
(ii)
to reflect in the prospectus
any facts or events arising after the effective date
of this registration statement (or the most recent
post-effective amendment hereof) which, individually
or in the aggregate, represent a fundamental change
in the information set forth in this registration
statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered
(if the total dollar value of securities offered
would not exceed that which was registered) and any
deviation from the low or high end of the estimated
maximum offering range may be reflected in the form
of prospectus filed with the Commission pursuant to
Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in
the "Calculation of Registration Fee" table in the
effective registration statement; and
(iii)
to include any material
information with respect to the plan of distribution
not previously disclosed in this registration
statement or any material change to such information
in this registration statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the Registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act that are incorporated by reference in this registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be
deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold
at the termination of the offering.
(b)  The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to section 15(d) of the Exchange Act) that is incorporated by
reference in this registration statement shall be deemed to be a new
registration statement relating to the securities offered herein, and the
offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(c)  The undersigned Registrant hereby undertakes that insofar as
indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it
is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Troy, State of North Carolina on the 25th day of
February, 2003.
First Bancorp
By:
/s/ James H. Garner
James H. Garner
President, Chief Executive Officer and Treasurer
POWER OF ATTORNEY
Each of the undersigned hereby constitutes and appoints James H. Garner,
Anna G. Hollers and Eric P. Credle, and each of them, with full power to act
without the other and with full power of substitution and resubstitution, his
true and lawful attorneys-in-fact and agents, for him and in his name, place,
and stead, in any and all capacities, to sign on his behalf any and all
amendments (including post-effective amendments and amendments thereto) to this
registration statement and any related registration statement (and any
amendments thereto) filed pursuant to Rule 462(b) under the Securities Act, and
to file the same, with all exhibits thereto and other documents in connection
therewith, with the Commission, and grants unto said attorneys-in-fact and
agents, and each of them, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the
premises as fully as to all intents and purposes as he might or could do in
person, and hereby ratifies and confirms all that such attorneys-in-fact or
agents, or any of them, or their substitutes shall lawfully do or cause to be
done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
registration statement or amendment thereto has been signed by the following
persons in the capacities indicated on the 25th day of February, 2003.
/s/ James H. Garner
/s/ Anna G. Hollers
James H. Garner
Anna G. Hollers
President, Chief Executive Officer, Treasurer
and Director
Executive Vice President and Secretary
(Principal Executive Officer)
/s/ Eric P. Credle
Eric P. Credle
Senior Vice President and Chief Financial Officer
(Principal Financial Officer
and Principal Accounting Officer)
/s/ Jesse S. Capel
/s/ William E. Samuels
Jesse S. Capel
William E. Samuels
Chairman of the Board
Vice-Chairman of the Board
Director
Director
/s/ Jack D. Briggs
/s/ Edward T. Taws
Jack D. Briggs
Edward T. Taws
Director
Director
/s/ H. David Bruton, M.D.
/s/ Frederick H. Taylor
H. David Bruton, M.D.
Frederick H. Taylor
Director
Director
/s/ David L. Burns
/s/ Virginia C. Thomasson
David L. Burns
Virginia C. Thomasson
Director
Director
/s/ John F. Burns
/s/ Goldie H. Wallace-Gainey
John F. Burns
Goldie H. Wallace-Gainey
Director
Director
/s/ James G. Hudson, Jr.
/s/ A. Jordan Washburn
James G. Hudson, Jr.
A. Jordan Washburn
Director
Director
/s/ George R. Perkins, Jr.
/s/ Dennis A. Wicker
George R. Perkins, Jr.
Dennis A. Wicker
Director
Director
/s/ Thomas F. Phillips
/s/ John C. Willis
Thomas F. Phillips
John C. Willis
Director
Director