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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">As filed with the Securities and Exchange
Commission on June 30, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt 5in; text-align: right">Registration No. 333-</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-top: black 2.25pt double"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">REGISTRATION STATEMENT UNDER THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES ACT OF 1933</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center"><FONT STYLE="font-size: 10pt"><B>FIRST
BANCORP</B></FONT><BR>
(Exact Name of Registrant as Specified in its Charter)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">North Carolina</P></td>
    <TD STYLE="width: 34%; text-align: center; font-size: 10pt">&nbsp;</td>
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">56-1421916</P></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt">(State or Other Jurisdiction of <br>
Incorporation or Organization)</td>
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</td>
    <TD STYLE="text-align: center; font-size: 10pt">(I.R.S. Employer <br>
Identification No.)</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>300 SW Broad Street, Southern Pines, North
Carolina 28387</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>First Bancorp 2014 Equity Plan</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center">(Full Title of the Plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Richard H. Moore</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">President and Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First Bancorp</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">300 SW Broad Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Southern Pines, North Carolina 28387</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2in 12pt; text-align: center; border-top: Black 0.5pt solid">(Name
and Address of Agent for Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(910) 246-2500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2in 12pt; text-align: center; border-top: Black 0.5pt solid">(Telephone
Number, Including Area Code, of Agent for Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting
company&rdquo; in Rule 12b-2 of the Exchange Act. (Check one):</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 61%; padding-bottom: 12pt; text-align: justify; font-size: 10pt; padding-left: 30pt"><font style="font-size: 10pt">Large accelerated filer&nbsp;&nbsp;<font style="font-family: Wingdings">&uml;</font></font></td>
    <td style="width: 39%; padding-bottom: 12pt; text-align: justify; font-size: 10pt"><font style="font-size: 10pt">Accelerated filer&nbsp;&nbsp;<font style="font-family: Wingdings">&yacute;</font></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt; padding-left: 30pt"><font style="font-size: 10pt">Non-accelerated filer&nbsp;&nbsp;<font style="font-family: Wingdings">&uml;</font></font></td>
    <td style="text-align: justify; font-size: 10pt"><font style="font-size: 10pt">Smaller reporting company&nbsp;&nbsp;<font style="font-family: Wingdings">&uml;</font></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">(Do not check if a smaller reporting
company)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">___________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Copy to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Henry H. Ralston</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Robinson, Bradshaw &amp; Hinson, P.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">101 North Tryon Street, Suite 1900</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Charlotte, North Carolina 28246</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(704) 377-2536</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

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<tr style="vertical-align: bottom">
    <td style="width: 37%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.9pt 5.75pt 2pt; text-align: center">Title of Securities<br>
To Be Registered</td>
    <td style="width: 15%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.9pt 5.75pt 2pt; text-align: center">Amount To Be <br>
Registered</td>
    <td style="width: 16%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.9pt 5.75pt 2pt; text-align: center">Proposed <br>
Maximum <br>
Offering Price <br>
Per Share<sup>(2)</sup></td>
    <td style="width: 17%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2.9pt 5.75pt 2pt; text-align: center">Proposed <br>
Maximum <br>
Aggregate <br>
Offering Price</td>
    <td style="width: 15%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; padding: 2.9pt 5.75pt 2pt; text-align: center">Amount of <br>
Registration <br>
Fee</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; padding: 2.9pt 5.75pt; text-align: left">Common Stock, no par value per share</td>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; padding: 2.9pt 5.75pt; text-align: center; vertical-align: bottom">1,000,000<sup>(1)</sup></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; padding: 2.9pt 5.75pt; text-align: center">$18.11</td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; padding: 2.9pt 5.75pt; text-align: center">$18,110,000<sup>(2)</sup></td>
    <td style="border-bottom: Black 1.5pt double; padding: 2.9pt 5.75pt; text-align: center">$2,332.57<sup>(2)</sup></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt 0.25in; text-align: justify; text-indent: -0.25in">_____________</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
this Registration Statement also relates to an indeterminate number of additional shares of common stock that may be necessary
to adjust the number of shares issuable under the First Bancorp 2014 Equity Plan as a result of a stock split, stock dividend,
recapitalization or similar adjustment of the outstanding common stock of the Registrant.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Estimated pursuant to Rule 457(c) and Rule 457(h) of the Securities Act solely for the purpose
of calculating the registration fee, based on the average of the high and low prices of the Registrant&rsquo;s common stock on
June&nbsp;24, 2014 as reported on the NASDAQ Global Select Market.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Registration
Statement on Form S-8 is filed by First Bancorp (the &ldquo;Company&rdquo; or the &ldquo;Registrant&rdquo;), relating to 1,000,000
shares of the Company&rsquo;s common stock, no par value per share (the &ldquo;Common Stock&rdquo;), issued or issuable under the
Company&rsquo;s 2014 Equity Plan (the &ldquo;Plan&rdquo;), and which may be offered for resale from time to time by certain of
the Company&rsquo;s executive officers and the other selling stockholders named in the following reoffer prospectus (the &ldquo;Selling
Stockholders&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The material which
immediately follows constitutes a reoffer prospectus, prepared in accordance with the requirements of Part I of Form S-3, in accordance
with General Instruction C to Form S-8, to be used in connection with resales of securities registered hereunder by the Selling
Stockholders, some of whom may be considered affiliates of the Company, as defined in Rule 405 under the Securities Act of 1933,
as amended, or who may be selling up to an aggregate of 10,065 shares of Common Stock that constitute &ldquo;restricted securities&rdquo;
that have been issued prior to the filing of this Registration Statement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">PART
I</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION
10(a) PROSPECTUS</B></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding-left: 0; text-indent: 0; width: 0.75in">Item 1.</TD>
    <TD STYLE="text-align: justify; padding-left: 0; text-indent: 0">Plan Information.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Not filed as part
of this Registration Statement pursuant to the Note to Part I of Form S-8.</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 2.</TD>
    <TD STYLE="text-align: justify">Registrant Information and Employee Plan Annual Information.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Not filed as part
of this Registration Statement pursuant to the Note to Part I of Form S-8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>REOFFER PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1,000,000 Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>First Bancorp</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This reoffer prospectus
relates to 1,000,000 shares of our common stock, no par value per share (the &ldquo;Common Stock&rdquo;) that may be reoffered
or resold from time to time by stockholders identified in this reoffer prospectus and that have been acquired or that may be acquired
under our 2014 Equity Plan (the &ldquo;Plan&rdquo;) by certain individuals described in the section of this prospectus entitled
&ldquo;Selling Stockholders,&rdquo; some of whom are deemed to be our affiliates, as that term is defined in Rule 405 under the
Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The shares of Common
Stock included in this reoffer prospectus may be sold by the Selling Stockholders in transactions at fixed prices that may be changed,
at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices, and
may be made on the NASDAQ Global Select Market or the over-the-counter market or otherwise. See &ldquo;Plan of Distribution,&rdquo;
which begins on page 2 of this reoffer prospectus, for a discussion of the various methods by which the shares included in this
reoffer prospectus may be sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We will not receive
any proceeds from the sale by the Selling Stockholders of the shares covered by this reoffer prospectus. We are paying the cost
of registering the shares covered by this reoffer prospectus, as well as various related expenses. The Selling Stockholders are
responsible for all selling commissions, transfer taxes and other costs related to the offer and sale of their shares under this
reoffer prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our Common Stock
is listed on the NASDAQ Global Select Market under the symbol &ldquo;FBNC.&rdquo; On June&nbsp;24,&nbsp;2014, the average of the
high and low prices per share of our Common Stock on the NASDAQ Global Select Market was $18.11 per share. Our principal executive
offices are located at 300 SW Broad Street, Southern Pines, North Carolina 28387.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><B>In reviewing
this reoffer prospectus, you should carefully consider the matters described under the heading &ldquo;Risk Factors&rdquo; beginning
on page 1.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Neither the Securities
and Exchange Commission (the &ldquo;Commission&rdquo;) nor any state securities has approved or disapproved of these securities
or determined if this reoffer prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">The date of this reoffer prospectus is June
30, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="toc"></A>TABLE OF CONTENTS</P>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 89%; padding-right: 0.5in; padding-bottom: 3pt">&nbsp;</td>
    <TD STYLE="width: 11%; padding-bottom: 10pt; text-align: right; padding-right: 0"><b>Page</b></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt">&nbsp;</td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_001">REOFFER PROSPECTUS SUMMARY</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">1</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_002">RISK FACTORS</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">1</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_003">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">2</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_004">PLAN OF DISTRIBUTION</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">2</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_005">USE OF PROCEEDS</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">4</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_006">SELLING STOCKHOLDERS</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">4</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_007">LEGAL MATTERS</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">6</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_008">EXPERTS</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">6</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_009">WHERE YOU CAN FIND ADDITIONAL INFORMATION</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">6</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 0.5in; padding-bottom: 3pt"><A HREF="#a_010">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></td>
    <TD STYLE="padding-right: 0; padding-bottom: 3pt; text-align: right">6</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 12pt; text-align: justify; text-indent: 0.5in">All references
to &ldquo;First Bancorp,&rdquo; &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our,&rdquo; &ldquo;us&rdquo; and similar terms
in this reoffer prospectus refer to First Bancorp and its consolidated subsidiaries (unless the context indicates another meaning).
The terms &ldquo;Common Stock&rdquo; and &ldquo;Shares&rdquo; as defined and used in this reoffer prospectus refer to the common
stock, no par value, of First Bancorp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">You should rely
only on the information contained in this reoffer prospectus or a prospectus supplement. We have not authorized anyone to provide
you with additional or different information. If anyone provides you with additional or different information, you should not rely
on it. The information contained in this prospectus, or any applicable prospectus supplement and the documents incorporated by
reference herein or therein are accurate only as of the date such information is presented. Our business, prospects, financial
condition, liquidity and results of operations may have changed since the date of this reoffer prospectus. You should also read
this reoffer prospectus together with the additional information described under the headings &ldquo;Where You Can Find Additional
Information&rdquo; and &ldquo;Incorporation of Certain Documents by Reference.&rdquo; This reoffer prospectus may be supplemented
from time to time to add, update or change information in this prospectus. Any statement contained in this reoffer prospectus will
be deemed to be modified or superseded for purposes of this reoffer prospectus to the extent that a statement contained in such
prospectus supplement modifies or supersedes such statement. Any statement so modified will be deemed to constitute a part of this
reoffer prospectus only as so modified, and any statement so superseded will be deemed not to constitute a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 100%; border: Black 1pt solid; padding: 2.9pt 5.75pt">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_001"></A>REOFFER PROSPECTUS
        SUMMARY</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><i>The following summary highlights
        information contained elsewhere in this reoffer prospectus and the information included or incorporated by reference in this reoffer
        prospectus. It may not contain all the information that may be important to you. You should read this entire reoffer prospectus
        carefully, especially the risks relating to our business and common stock discussed under the heading &ldquo;Risk Factors.&rdquo;</i></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">Our Company</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">First Bancorp (the
        &ldquo;Company&rdquo;) is a bank holding company. Our principal activity is the ownership and operation of First Bank (the &ldquo;Bank&rdquo;),
        a state-chartered bank with its main office in Southern Pines, North Carolina. The Company is also the parent to a series of statutory
        business trusts organized under the laws of the State of Delaware that were created for the purpose of issuing trust preferred
        debt securities. Our outstanding debt associated with these trusts was $46.4 million at December 31, 2013 and 2012.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Company was
        incorporated in North Carolina on December 8, 1983, as Montgomery Bancorp, for the purpose of acquiring 100% of the outstanding
        common stock of the Bank through a stock-for-stock exchange. On December 31, 1986, the Company changed its name to First Bancorp
        to conform its name to the name of the Bank, which had changed its name from Bank of Montgomery to First Bank in 1985.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Bank was organized
        in 1934 and began banking operations in 1935 as the Bank of Montgomery, named for the county in which it operated. Until September
        2013, the Bank&rsquo;s main office was in Troy, North Carolina, located in the center of Montgomery County. In September 2013,
        the Company and the Bank moved their main offices approximately 45 miles to Southern Pines, North Carolina, in Moore County. As
        of December&nbsp;31, 2013, we conducted business from 96 branches covering a geographical area from Florence, South Carolina to
        the southeast, to Wilmington, North Carolina to the east, to Kill Devil Hills, North Carolina to the northeast, to Salem, Virginia
        to the north, to Abingdon, Virginia to the northwest, and to Asheville, North Carolina to the west. We also have loan production
        offices in Charlotte, Greenville, and Fayetteville, all in North Carolina. Of the Bank&rsquo;s 96 branches, 81 branches are in
        North Carolina, seven branches are in South Carolina and eight branches are in Virginia (where we operate under the name &ldquo;First
        Bank of Virginia&rdquo;). Ranked by assets, the Bank was the fifth largest bank headquartered in North Carolina as of December
        31, 2013.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of December 31,
        2013, the Bank had two wholly owned subsidiaries, First Bank Insurance Services, Inc. (&ldquo;First Bank Insurance&rdquo;) and
        First Troy SPE, LLC. First Bank Insurance&rsquo;s primary business activity is the placement of property and casualty insurance
        coverage. First Troy SPE, LLC, which was organized in December 2009, is a holding entity for certain foreclosed properties.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our principal executive
        offices are located at 300 SW Broad Street, Southern Pines, North Carolina, 28387, and our telephone number is (910) 246-2500.
        Our website address is www.LocalFirstBank.com. Information contained on, or that can be accessed through, our website is not part
        of, nor incorporated into, this prospectus.</P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_002"></A>RISK FACTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">An investment in
our Common Stock involves a high degree of risk. You should carefully consider the risks and uncertainties and all other information
contained in this reoffer prospectus, including the risks and uncertainties discussed under &ldquo;Risk Factors&rdquo; in our Annual
Report on Form 10-K for the year ended December&nbsp;31, 2013 (the &ldquo;2013 Form 10-K), filed with the Securities and Exchange
Commission (the &ldquo;SEC&rdquo; or the &ldquo;Commission&rdquo;) on March 17, 2014. All of these &ldquo;Risk Factors&rdquo; are
incorporated by reference herein in their entirety. These risks and uncertainties are not the only ones facing us. Additional risks
of which we are not presently aware or that we currently believe are immaterial may also harm our business and results of operations.
The trading price of our common stock could decline due to the occurrence of any of these risks, and investors could lose all or
part of their investment. In assessing these risks, investors should also refer to the information contained or incorporated by
reference in our other filings with the Commission.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_003"></A>SPECIAL NOTE REGARDING
FORWARD-LOOKING STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This reoffer prospectus,
the documents incorporated by reference herein and other written reports, documents and oral statements made from time to time
by us may constitute &ldquo;forward-looking statements&rdquo; within the meaning of the Private Securities Litigation Reform Act
of 1995 regarding our future plans, objectives and expected performance. Specifically, statements that are not historical facts,
including statements accompanied by qualifying words (and their derivatives) such as &ldquo;may,&rdquo; &ldquo;would,&rdquo; &ldquo;could,&rdquo;
&ldquo;should,&rdquo; &ldquo;will,&rdquo; &ldquo;expect,&rdquo; &ldquo;believe,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;plan,&rdquo; &ldquo;project&rdquo; or similar expressions are intended to identify forward-looking
statements and convey the uncertainty of future events or outcomes. We caution you that any such forward-looking statements are
based on assumptions that we believe are reasonable, but are subject to a wide range of risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following factors,
among others, could cause our financial performance to differ materially from that expressed in such forward-looking statements:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">local, regional, national and international economic, political and market conditions and the impact
they may have on us and our customers, and our assessment of that impact;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest
rate policies of the Board of Governors of the Federal Reserve System; inflation or deflation; and interest rate, market and monetary
fluctuations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">changes in deposit flows, loan demand, real estate values and competition within the banking industry;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">unanticipated changes in the regulatory environment, including the impact of changes in financial
services laws, regulations and policies and the results of examinations of us by our regulatory authorities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the effect of acquisitions we have made or may make in the future, including the failure to achieve
the expected revenue growth, synergies and/or expense savings from such acquisitions; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">adverse changes in the securities market.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">You should also
consider carefully the statements in the &ldquo;Risk Factors&rdquo; section and other sections of this prospectus, any prospectus
supplement, and the documents we incorporate by reference, including, but not limited to, our 2013 Form 10-K, which address additional
factors that could cause our actual results to differ from those set forth in the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Because of these
and other uncertainties, our actual future results, performance or achievements, or industry results, may be materially different
from the results contemplated by these forward-looking statements. In addition, our past results do not necessarily indicate our
future results. You should not place undue reliance on any forward-looking statement, which speaks only as of the date it was made.
We do not intend to update these forward-looking statements, even though our situation may change in the future, unless we are
obligated to do so under the federal securities laws. We qualify all of our forward-looking statements by these cautionary statements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_004"></A>PLAN OF DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The 1,000,000 shares
of our Common Stock (the &ldquo;Shares&rdquo;) offered by this reoffer prospectus may be sold by the Selling Stockholders. Such
sales may be made in one or more transactions at fixed prices that may be changed, at market prices prevailing at the time of sale,
at prices related to such prevailing market prices or at negotiated prices, and may be made on the NASDAQ Global Select Market
or the over-the-counter market or otherwise. In addition, the Selling Stockholders may sell some or all of the Shares through:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a block trade in which a broker-dealer may resell a portion of the block, as principal, in order
to facilitate the transaction;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">purchases by a broker-dealer, as principal, and resale by the broker-dealer for its account;</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">ordinary brokerage transactions and transactions in which a broker-dealer solicits purchasers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">an exchange distribution in accordance with the rules of the applicable exchange;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">in negotiated transactions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">in a combination of any of the above methods of sale; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any other method permitted under applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Selling Stockholders
may, to the extent permitted under Company policies and applicable law, also engage in short sales against the box, puts and calls
and other hedging transactions in the Shares or derivatives of the Shares and may sell or deliver the Shares in connection with
these trades. For example, the Selling Stockholders may:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enter into transactions involving short sales of our Common Stock by broker-dealers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sell our Common Stock short themselves and redeliver any portion of the Shares to close out their
short positions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enter into option or other types of transactions that require the Selling Stockholder to deliver
Shares to a broker-dealer, who will then resell or transfer the Shares under this reoffer prospectus; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">loan or pledge Shares to a broker-dealer, who may sell the loaned Shares or, in the event of default,
sell the pledged Shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">There is no assurance
that any of the Selling Stockholders will sell any or all of the Shares offered by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Selling Stockholders
may negotiate and pay broker-dealers commissions, discounts or concessions for their services. Broker-dealers engaged by the Selling
Stockholders may allow other broker-dealers to participate in resales. However, the Selling Stockholders and any broker-dealers
involved in the sale or resale of the Shares may qualify as &ldquo;underwriters&rdquo; within the meaning of Section 2(a)(11) of
the Securities Act. In addition, the broker-dealers&rsquo; commissions, discounts or concessions may qualify as underwriters&rsquo;
compensation under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Selling Stockholders
will be subject to the reoffer prospectus delivery requirements of the Securities Act, unless exempted therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition to selling
the Shares under this reoffer prospectus, the Selling Stockholders may:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">transfer their Shares in other ways not involving market makers or established trading markets,
including, but not limited to, directly by gift, distribution, privately negotiated transactions in compliance with applicable
law or other transfer; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sell their Shares under Rule 144 of the Securities Act rather than under this reoffer prospectus,
if the transaction meets the requirements of Rule 144.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each Selling Stockholder
will bear all expenses with respect to the offering of the Shares by such Selling Stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each Selling Stockholder
will be subject to the applicable provisions of the Securities Exchange Act of&nbsp;1934, as amended (the &ldquo;Exchange Act&rdquo;),
and the associated rules and regulations under the Exchange Act, including Regulation M, which provisions may limit the timing
of purchases and sales of shares of our Common Stock by the Selling Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Selling Stockholders
may from time to time pledge or grant a security interest in some or all of the Shares owned by them and, if they default in the
performance of their secured obligations, the pledgees or secured parties may offer and sell the Shares from time to time under
this reoffer prospectus after an amendment has been filed under Rule 424(b) or other applicable provision of the Securities Act
amending the list of Selling Stockholders to include the pledgee, transferee or other successors in interest as &ldquo;Selling
Stockholders&rdquo; under this reoffer prospectus.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Selling Stockholders
also may transfer the Shares in other circumstances, in which case the respective pledgees, transferees or other successors in
interest may be the selling beneficial owners for purposes of this reoffer prospectus and may sell such Shares from time to time
under this reoffer prospectus after an amendment or supplement has been filed under Rule 424(b) or other applicable provision of
the Securities Act amending or supplementing the list of Selling Stockholders to include the pledgee, transferee or other successors
in interest as &ldquo;Selling Stockholders&rdquo; under this reoffer prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We will make copies
of this reoffer prospectus available to the Selling Stockholders and have informed them of the need to deliver copies of this reoffer
prospectus to purchasers at or prior to the time of any sale of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We will bear all
costs, expenses and fees in connection with the registration of the Shares. The Selling Stockholders will bear all commissions
and discounts, if any, attributable to the resale of the Shares. The Selling Stockholders may agree to indemnify any broker-dealer
or agent that participates in transactions involving sales of the Shares against certain liabilities, including liabilities arising
under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Once sold under
the registration statement of which this reoffer prospectus is a part, the Shares will be freely tradable in the hands of persons
other than our affiliates.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_005"></A>USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Selling Stockholders
will receive all of the proceeds from the sale of the Shares offered for sale under this reoffer prospectus. We will not receive
any proceeds from the sale of the Shares by the Selling Stockholders.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_006"></A>SELLING STOCKHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This prospectus
relates to Shares that are being registered for reoffers and resale by the Selling Stockholders listed below, or future Selling
Stockholders. The Selling Stockholders are the holders of &ldquo;restricted securities&rdquo; or &ldquo;control securities&rdquo;
acquired under the Plan and include, and may include in the future, certain directors, officers and others who may be deemed to
be &ldquo;affiliates&rdquo; who acquired or may acquire Shares under the Plan. The Selling Stockholders may resell any or all of
the Shares at any time while this prospectus is current.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Executive officers,
directors or others who are considered to be affiliates of the Company who may acquire Common Stock under the Plan may be added
to the list of Selling Stockholders and the Shares to be sold may be increased or decreased by the use of a prospectus supplement
filed with the SEC.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The inclusion of
Shares in the table below does not constitute a commitment to sell any of the Shares.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Selling Stockholder(1)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Position</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><b>Number of<BR>
 Shares <BR>
Beneficially <BR>
Owned Before<BR>
 Offering<font style="font-family: Times New Roman, Times, Serif"><sup>(1)(2)</sup></font></b></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><b>Number of<BR>
 Shares <BR>
Covered by <BR>
This <BR>
Prospectus<font style="font-family: Times New Roman, Times, Serif"><sup>(3)</sup></font></b></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><b>Number of<BR>
 Shares <BR>
Beneficially <BR>
Owned After <BR>
Offering<font style="font-family: Times New Roman, Times, Serif"><sup>(2)(4)</sup></font></b></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><b>Percentage <BR>
of Shares <BR>
Beneficially <BR>
Owned after <BR>
Offering<font style="font-family: Times New Roman, Times, Serif"><sup>(5)</sup></font></b></P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify">Daniel T. Blue, Jr.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">Director</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">8,511</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">915</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">7,596</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Jack D. Briggs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">149,518</TD><TD STYLE="text-align: left">(6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">148,603</TD><TD STYLE="text-align: left">(6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Mary Clara Capel</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,959</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,044</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">James C. Crawford, III</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,357</TD><TD STYLE="text-align: left">(7)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,442</TD><TD STYLE="text-align: left">(7)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">James G. Hudson, Jr.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101,351</TD><TD STYLE="text-align: left">(8)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,436</TD><TD STYLE="text-align: left">(8)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">George R. Perkins, Jr.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">509,606</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">508,691</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2.58%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Thomas F. Phillips</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,186</TD><TD STYLE="text-align: left">(9)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90,271</TD><TD STYLE="text-align: left">(9)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Frederick L. Taylor, II</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,225</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Virginia C. Thomasson</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,848</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,933</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Dennis A. Wicker</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,342</TD><TD STYLE="text-align: left">(10)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,427</TD><TD STYLE="text-align: left">(10)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">John C. Willis</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">321,802</TD><TD STYLE="text-align: left">(11)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">915</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">320,887</TD><TD STYLE="text-align: left">(11)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.63%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 22.3pt; text-align: justify; text-indent: -22.3pt">*Less than
1%</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(1)</TD><TD STYLE="text-align: justify">If required, information about other selling stockholders, except for any future transferees, pledgees
or other successors of Selling Stockholders named in this table, will be set forth in a reoffer prospectus supplement or amendment
to the registration statement of which this reoffer prospectus is a part. Additionally, post-effective amendments to the registration
statement will, to the extent necessary, be filed to disclose any material changes to the plan of distribution from the description
contained in the final reoffer prospectus.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(2)</TD><TD STYLE="text-align: justify">Amounts include Common Stock beneficially owned or that may be acquired upon the exercise of options
within 60 days of June 27, 2014. The amounts above include options for the following individuals in the following amounts: Mr.
Briggs, 13,500; Ms. Capel, 11,250; Mr. Crawford, 4,500; Mr. Hudson, 4,500; Mr. Perkins, 13,500; Mr. Phillips, 13,500; Mr. Taylor,
11,250; Ms. Thomasson, 13,500; Mr. Wicker, 13,500; and Mr. Willis, 13,500.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(3)</TD><TD STYLE="text-align: justify">Does not constitute a commitment to sell any or all of the stated number of Shares of Common Stock.
The number of Shares offered shall be determined from time to time by each Selling Stockholder at its sole discretion.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(4)</TD><TD STYLE="text-align: justify">This assumes the sale of all Shares offered by the reoffer prospectus and the sale of none of the
other shares of Common Stock listed as beneficially owned before any offering of the Shares.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(5)</TD><TD STYLE="text-align: justify">Based upon 19,695,316 shares of Common Stock outstanding on June 27, 2014.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(6)</TD><TD STYLE="text-align: justify">Mr. Briggs&rsquo; shares include 1,701 shares held as custodian for his daughter, 1,682 shares
held as custodian for his grandchildren, and 42,324 shares held by his spouse.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(7)</TD><TD STYLE="text-align: justify">Mr. Crawford&rsquo;s shares include 6,325 shares held by his spouse and 6,600 shares held jointly
with his children.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(8)</TD><TD STYLE="text-align: justify">Mr. Hudson&rsquo;s shares include 3,014 shares held by his spouse.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(9)</TD><TD STYLE="text-align: justify">Mr. Phillips&rsquo; shares include 1,965 shares held by his spouse and 186 shares that his spouse
owns jointly with two of their children.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(10)</TD><TD STYLE="text-align: justify">Mr. Wicker&rsquo;s shares include 2,000 shares held by his spouse.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.3pt">(11)</TD><TD STYLE="text-align: justify">Mr. Willis&rsquo; shares include 164,737 shares held by his spouse.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_007"></A>LEGAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Certain legal matters
relating to the validity of the Shares offered by this reoffer prospectus will be passed upon for us by Robinson, Bradshaw &amp;
Hinson, P.A., Charlotte, North Carolina. As of June 27, 2014, members of Robinson, Bradshaw &amp; Hinson, P.A. beneficially owned
less than 1% of the Company&rsquo;s Common Stock.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_008"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The consolidated
financial statements of First Bancorp as of December 31, 2013 and 2012, and for each of the three years in the three-year period
ended December 31, 2013, have been incorporated by reference herein and in the reoffer prospectus, in reliance upon the report
of Elliott Davis, PLLC, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_009"></A>WHERE YOU CAN
FIND ADDITIONAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are required
to comply with the reporting requirements of the Exchange Act and file annual, quarterly and other reports with the Commission.
We are also subject to the proxy solicitation requirements of the Exchange Act. We make available free of charge on our website
our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K and amendments to those reports
filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, as soon as reasonably practicable after we electronically
file such material with, or furnish it to, the Commission. We also deliver to our holders of common stock annual reports containing
consolidated financial statements prepared in accordance with United States generally accepted accounting principles and audited
and reported on, with an opinion expressed thereto, by an independent registered public accounting firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">You may read and
copy all or any portion of the registration statement, of which this reoffer prospectus is a part, or any reports, statements or
other information we file with the Commission at the Commission&rsquo;s public reference room at 100 F Street, NE, Washington,
DE 20549. You can request copies of these documents upon payment of a duplicating fee, by writing to the Commission. Please call
the Commission at 1-800-SEC-0330 for further information on the operation of the public reference rooms. Our Commission filings,
including the registration statement, will also be available to you on the Commission&rsquo;s website at <I>www.sec.gov</I>. In
addition, you may request a copy of these filings (excluding exhibits) at no cost by writing or telephoning us at the following
address or telephone number:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First Bancorp</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">300 SW Broad Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Southern Pines, North Carolina 28387</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(910) 246-2500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We maintain a website
at www.LocalFirstBank.com. Our website and the information contained on that site, or connected to that site, is not part of or
incorporated by reference into this reoffer prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">No person is authorized
to give any information or to make any representations other than those contained in this reoffer prospectus, and, if given or
made, such information or representations must not be relied upon as having been authorized. Neither the delivery of this reoffer
prospectus nor any distribution of securities made hereunder shall imply that there has been no change in the information set forth
herein or in our affairs since the date of this reoffer prospectus.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><A NAME="a_010"></A>INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The SEC allows us
to &ldquo;incorporate by reference&rdquo; in this prospectus the information in documents filed with it. This means that we can
disclose important information to you by referring you to these documents. The information incorporated by reference is considered
to be a part of this prospectus, and information in documents that we file later with the SEC will automatically update and supersede
information contained in documents filed earlier with the SEC or contained in this prospectus or any prospectus supplement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We incorporate by
reference in this prospectus the documents listed below, except to the extent that any information contained in any such document
is deemed &ldquo;furnished&rdquo; in accordance with the rules of the SEC:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our Annual Report on Form 10-K for the year ended December 31, 2013;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our Quarterly Report on Form 10-Q for the quarter ended March 31, 2014;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our Current Reports on Form 8-K filed February 27, 2014, March 14, 2014, May 13, 2014, May 28,
2014 and June 16, 2014;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The description of our Common Stock contained in our Registration Statement on Form 8-A as filed
with the SEC on April 8, 1987, including any amendment or report filed for the purpose of updating such description; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">All documents subsequently filed by us with the SEC pursuant to Section 13(a), 13(c), 14 and 15(d)
of the Securities Exchange Act of 1934 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 that deregisters all securities
then remaining unsold.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any statement contained
herein or in the documents incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded
for purposes of this prospectus to the extent that a statement contained herein or in any other subsequently filed document that
also is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">You may request
a copy of these documents, at no cost to you, by writing or telephoning us at:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First Bancorp</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">300 SW Broad Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Southern Pines, North Carolina 28387</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(910) 246-5000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any statement made
in this prospectus or any prospectus supplement concerning the contents of any contract, agreement or other document is only a
summary of the actual document. You may obtain a copy of any document summarized in this prospectus or any prospectus supplement
at no cost by writing to or telephoning us at the address and telephone number given above. Each statement regarding a contract,
agreement or other document is qualified in its entirety by reference to the actual document.</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">PART
II</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 3.</TD>
    <TD STYLE="text-align: justify">Incorporation of Documents by Reference.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following documents
previously filed by the Company with the Commission are incorporated by reference into this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Company&rsquo;s
Annual Report on Form 10-K for the fiscal year ended December 31, 2013;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Company&rsquo;s
Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2014;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Company&rsquo;s
Current Reports on Form 8-K filed on February 27, 2014, March 14, 2014, May&nbsp;13, 2014, May 28, 2014 and June 16, 2014; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the description
of the Company&rsquo;s common stock, no par value per share, contained in the Company&rsquo;s registration statement on Form 8-A
as filed with the SEC on April 8, 1987, including any amendment or report filed for the purpose of updating such description.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All documents subsequently
filed by the Company with the SEC pursuant to Section 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (the &ldquo;Exchange
Act&rdquo;) 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 that deregisters all securities then remaining unsold
shall be deemed incorporated by reference into this Registration Statement to be a part hereof from the date of the filing of such
documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any statement contained
herein or in the documents incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed
document that also is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 4.</TD>
    <TD STYLE="text-align: justify">Description of Securities.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 5.</TD>
    <TD STYLE="text-align: justify">Interests of Named Experts And Counsel.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Certain matters
relating to the validity of the Common Stock offered by this reoffer prospectus will be passed upon for the Company by Robinson,
Bradshaw &amp; Hinson, P.A., Charlotte, North Carolina. As of June&nbsp;27, 2014, members of Robinson, Bradshaw &amp; Hinson, P.A.
beneficially owned less than 1% of the Company&rsquo;s Common Stock.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 6.</TD>
    <TD STYLE="text-align: justify">Indemnification of Directors and Officers.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 55-2-02
of the North Carolina Business Corporation Act (the &ldquo;Business Corporation Act&rdquo;) 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&rsquo;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)&nbsp;acts or omissions occurring prior to the date the exculpatory
provision became effective. The Company&rsquo;s articles of incorporation, as amended, limit the personal liability of its directors
to the fullest extent permitted by the Business Corporation Act, as amended from time to time. Any repeal or modification of this
provision by the Company&rsquo;s shareholders will not adversely affect any limitation on the personal liability of a director
of the Company existing at the time of the repeal or modification.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">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 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 of the corporation, or is or was serving at the request of such corporation as a director
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 (i) conducted himself in
good faith, (ii) reasonably believed (a) that any action taken in his official capacity with the corporation was in the best interests
of the corporation or (b) that in all other cases his conduct was not opposed to the corporation&rsquo;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 a majority vote of a quorum
of the board of directors (excluding any director party to the proceeding at question), a committee of directors, special legal
counsel or the shareholders in accordance with Section 55-8-55 of the Business Corporation Act. Under the statutory scheme, a corporation
may not indemnify a director in connection with a proceeding by or in the right of the corporation in which the director was adjudged
liable to the corporation or in connection with any other proceeding in which the director was adjudged liable on the basis of
having received an improper personal benefit. Pursuant to Section 55-8-56 of the Business Corporation Act, a corporation may also
indemnify officers, employees or agents under this statutory scheme.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">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 entitled to mandatory indemnification under Section 55-8-52 of the Business
Corporation Act or is fairly and reasonably entitled to indemnification in view of all the relevant circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">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, in its articles of incorporation or bylaws, by contract or by resolution,
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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition, 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 Company has
purchased and maintains such insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
amended and restated bylaws provide that the Company shall indemnify, to the fullest extent permitted by law, any person who at
any time serves or has served as a director, officer, employee or agent of the Company against reasonable expenses (including attorneys&rsquo;
fees) incurred or reasonable payments made in connection with any pending, threatened or completed civil, criminal, administrative
or investigative action, suit or proceeding, whether or not brought by or on behalf of the Company, by reason of the fact that
he is or was a director, officer, employee or agent of the Company or serves or served any other enterprise as a director, officer,
employee or agent at the request of the Company. The rights of any director or officer include advancement of expenses from time
to time to the fullest extent permitted by law. The amended and restated bylaws provide that the right of indemnification is not
exclusive of other rights to which such person may be entitled, and that the right inures to the legal representatives of such
person. The Company also has separate indemnification agreements with various current and past directors and officers.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 7.</TD>
    <TD STYLE="text-align: justify">Exemption from Registration Claimed.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The restricted securities
to be reoffered and resold by the Selling Stockholders pursuant to this Registration Statement consist of shares of common stock
that were granted to them as stock awards granted under the Company&rsquo;s 2014 Equity Plan. These awards were exempt from registration
as a private offering under Section&nbsp;4(a)(2) of the Securities Act.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 8.</TD>
    <TD STYLE="text-align: justify">Exhibits.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">See the Exhibit
Index.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.75in">Item 9.</TD>
    <TD STYLE="text-align: justify">Undertakings.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.8in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company
hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.8in; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.3in; text-align: justify; text-indent: 0.6in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
include any prospectus required by Section 10(a)(3) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.3in; text-align: justify; text-indent: 0.6in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.3in; text-align: justify; text-indent: 0.6in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>provided, however</I>, that paragraphs
(a)(1)(i) and (a)(1)(ii) above 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 Company pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) that are incorporated by reference in this
Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.8in; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.8in; text-align: justify; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.8in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company
hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company&rsquo;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&rsquo;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.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.8in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company
hereby undertakes that insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company 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
Company of expenses incurred or paid by a director, officer or controlling person of the Company 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 Company 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">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 Southern Pines, State of North Carolina on this 27th day of June, 2014.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 24pt; text-align: justify">&nbsp;</td>
    <td colspan="2" style="padding-bottom: 24pt; text-align: justify"><b>FIRST BANCORP</b></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="width: 0.25in; text-align: justify">By:</td>
    <TD STYLE="width: 3in; text-align: justify; text-decoration: none; border-bottom: Black 1pt solid">/s/ Richard H. Moore</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">Richard H. Moore</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 24pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 24pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-bottom: 24pt; text-align: justify">President and Chief Executive Officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 24.5pt">KNOW ALL MEN BY
THESE PRESENTS, that each person whose signature appears below constitutes and appoints Richard H. Moore and Eric P. Credle his
true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution, for him or her and in his
name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments, to this
Registration Statement, and any registration statement relating to the offering covered by this Registration Statement and filed
pursuant to Rule 462(b) under the Securities Act of 1933, and to file the same, with exhibits thereto and other documents in connection
therewith, with the Securities and Exchange Commission, granting 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, as fully to all intents
and purposes as he or she might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact
and agents or their substitute or substitutes may lawfully so or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the
dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 33%; padding-bottom: 12pt; text-align: center; text-decoration: underline"><b><u>Signature</u></b></td>
    <TD STYLE="width: 3%; padding-bottom: 12pt; text-align: center"><b>&nbsp;</b></td>
    <TD STYLE="width: 45%; padding-bottom: 12pt; text-align: left; text-decoration: underline; vertical-align: bottom; padding-left: 60pt"><b><u>Title</u></b></td>
    <TD STYLE="width: 19%; padding-bottom: 12pt; text-align: center; text-decoration: underline"><b><u>Date</u></b></td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Richard
        H. Moore</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Richard H. Moore</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">President, Chief Executive Officer and Director <BR>
(<i>Principal Executive Officer</i>)</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Eric P.
        Credle</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Eric P. Credle</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Executive Vice President and Chief Financial Officer <BR>
(<i>Principal Financial and Accounting Officer</i>)</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Daniel T.
        Blue, Jr.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Daniel T. Blue, Jr.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P></td>
    <TD STYLE="text-align: left">&nbsp;</td>
    <TD STYLE="text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Jack D.
        Briggs</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Jack D. Briggs</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Mary Clara
        Capel</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Mary Clara Capel</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ James C.
        Crawford, III</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">James C. Crawford</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-align: center; text-decoration: underline; width: 33%"><b><u>Signature</u></b></td>
    <TD STYLE="padding-bottom: 12pt; text-align: center; width: 3%"><b>&nbsp;</b></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left; text-decoration: underline; width: 45%; vertical-align: bottom; padding-left: 10pt"><b><u>Title</u></b></td>
    <TD STYLE="padding-bottom: 12pt; text-align: center; text-decoration: underline; width: 19%"><b><u>Date</u></b></td></tr>

<tr style="vertical-align: top">
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ James G.
        Hudson, Jr.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">James G. Hudson, Jr.</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left; width: 3%">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left; width: 45%">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center; width: 19%">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">George R. Perkins, Jr.</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Thomas F.
        Phillips</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Thomas F. Phillips</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Frederick
        L. Taylor, II</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Frederick L. Taylor II</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Virginia
        C. Thomasson</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Virginia C. Thomasson</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ Dennis A.
        Wicker</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Dennis A. Wicker</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; border-bottom: Black 0.5pt solid">/s/ John C.
        Willis</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">John C. Willis</P></td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">&nbsp;</td>
    <TD STYLE="padding-bottom: 12pt; text-align: left">Director</td>
    <TD STYLE="padding-bottom: 12pt; text-align: center">June 27, 2014</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXHIBIT INDEX</B></P>

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    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-decoration: underline; vertical-align: top"><u>EXHIBIT NO.</u></td>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left; text-decoration: underline"><u>DESCRIPTION</u></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: top">4.1</td>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left">Form of Common Stock Certificate filed as Exhibit 4 to the Company&rsquo;s Quarterly Report on Form 10-Q for the quarter ended June 30, 1999, is incorporated herein by reference</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; vertical-align: top">5.1*</td>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left">Opinion of Robinson, Bradshaw &amp; Hinson, P.A.</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; vertical-align: top">23.1*</td>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left">Consent of Robinson, Bradshaw &amp; Hinson, P.A. (included in Exhibit 5.1)</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; vertical-align: top">23.2*</td>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left">Consent of Elliott Davis, PLLC</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt; text-align: center; vertical-align: top">24.1*</td>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 0.25in; padding-left: 5.4pt; text-align: left">Powers of Attorney (included in the signature pages to the Registration Statement)</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">______________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*Filed herewith</P>


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[{"type": "S-8", "sequence": "1", "filename": "s8-139179_fbnc.htm", "description": "S-8", "secsgml_size_bytes": 123062}]
{"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": "333-197115", "film-number": "14948327"}, "business-address": {"street1": "341 NORTH MAIN ST", "street2": "PO BOX 508", "city": "TROY", "state": "NC", "zip": "27371-0508", "phone": "9105766171"}}
As filed with the Securities and Exchange
Commission on June 30, 2014
Registration No. 333-
UNITED STATES
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.)
300 SW Broad Street, Southern Pines, North
Carolina 28387
(Address of Principal Executive Offices)
First Bancorp 2014 Equity Plan
(Full Title of the Plan)
Richard H. Moore
President and Chief Executive Officer
First Bancorp
300 SW Broad Street
Southern Pines, North Carolina 28387
(Name
and Address of Agent for Service)
(910) 246-2500
(Telephone
Number, Including Area Code, of Agent for Service)
Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting
company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
¨
Accelerated filer
ý
Non-accelerated filer
¨
Smaller reporting company
¨
(Do not check if a smaller reporting
company)
___________________
Copy to:
Henry H. Ralston
Robinson, Bradshaw & Hinson, P.A.
101 North Tryon Street, Suite 1900
Charlotte, North Carolina 28246
(704) 377-2536
CALCULATION OF REGISTRATION FEE
Title of Securities
To Be Registered
Amount To Be
Registered
Proposed
Maximum
Offering Price
Per Share
(2)
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
Common Stock, no par value per share
1,000,000
(1)
$18.11
$18,110,000
(2)
$2,332.57
(2)
_____________
(1)
Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"),
this Registration Statement also relates to an indeterminate number of additional shares of common stock that may be necessary
to adjust the number of shares issuable under the First Bancorp 2014 Equity Plan as a result of a stock split, stock dividend,
recapitalization or similar adjustment of the outstanding common stock of the Registrant.
(2)
Estimated pursuant to Rule 457(c) and Rule 457(h) of the Securities Act solely for the purpose
of calculating the registration fee, based on the average of the high and low prices of the Registrant's common stock on
June 24, 2014 as reported on the NASDAQ Global Select Market.
EXPLANATORY NOTE
This Registration
Statement on Form S-8 is filed by First Bancorp (the "Company" or the "Registrant"), relating to 1,000,000
shares of the Company's common stock, no par value per share (the "Common Stock"), issued or issuable under the
Company's 2014 Equity Plan (the "Plan"), and which may be offered for resale from time to time by certain of
the Company's executive officers and the other selling stockholders named in the following reoffer prospectus (the "Selling
Stockholders").
The material which
immediately follows constitutes a reoffer prospectus, prepared in accordance with the requirements of Part I of Form S-3, in accordance
with General Instruction C to Form S-8, to be used in connection with resales of securities registered hereunder by the Selling
Stockholders, some of whom may be considered affiliates of the Company, as defined in Rule 405 under the Securities Act of 1933,
as amended, or who may be selling up to an aggregate of 10,065 shares of Common Stock that constitute "restricted securities"
that have been issued prior to the filing of this Registration Statement.
PART
I
INFORMATION REQUIRED IN THE SECTION
10(a) PROSPECTUS
Item 1.
Plan Information.
Not filed as part
of this Registration Statement pursuant to the Note to Part I of Form S-8.
Item 2.
Registrant Information and Employee Plan Annual Information.
Not filed as part
of this Registration Statement pursuant to the Note to Part I of Form S-8.
REOFFER PROSPECTUS
1,000,000 Shares
First Bancorp
Common Stock
This reoffer prospectus
relates to 1,000,000 shares of our common stock, no par value per share (the "Common Stock") that may be reoffered
or resold from time to time by stockholders identified in this reoffer prospectus and that have been acquired or that may be acquired
under our 2014 Equity Plan (the "Plan") by certain individuals described in the section of this prospectus entitled
"Selling Stockholders," some of whom are deemed to be our affiliates, as that term is defined in Rule 405 under the
Securities Act of 1933, as amended (the "Securities Act").
The shares of Common
Stock included in this reoffer prospectus may be sold by the Selling Stockholders in transactions at fixed prices that may be changed,
at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices, and
may be made on the NASDAQ Global Select Market or the over-the-counter market or otherwise. See "Plan of Distribution,"
which begins on page 2 of this reoffer prospectus, for a discussion of the various methods by which the shares included in this
reoffer prospectus may be sold.
We will not receive
any proceeds from the sale by the Selling Stockholders of the shares covered by this reoffer prospectus. We are paying the cost
of registering the shares covered by this reoffer prospectus, as well as various related expenses. The Selling Stockholders are
responsible for all selling commissions, transfer taxes and other costs related to the offer and sale of their shares under this
reoffer prospectus.
Our Common Stock
is listed on the NASDAQ Global Select Market under the symbol "FBNC." On June 24, 2014, the average of the
high and low prices per share of our Common Stock on the NASDAQ Global Select Market was $18.11 per share. Our principal executive
offices are located at 300 SW Broad Street, Southern Pines, North Carolina 28387.
In reviewing
this reoffer prospectus, you should carefully consider the matters described under the heading "Risk Factors" beginning
on page 1.
Neither the Securities
and Exchange Commission (the "Commission") nor any state securities has approved or disapproved of these securities
or determined if this reoffer prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this reoffer prospectus is June
30, 2014.
TABLE OF CONTENTS
Page
REOFFER PROSPECTUS SUMMARY
1
RISK FACTORS
1
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
2
PLAN OF DISTRIBUTION
2
USE OF PROCEEDS
4
SELLING STOCKHOLDERS
4
LEGAL MATTERS
6
EXPERTS
6
WHERE YOU CAN FIND ADDITIONAL INFORMATION
6
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
6
All references
to "First Bancorp," "the Company," "we," "our," "us" and similar terms
in this reoffer prospectus refer to First Bancorp and its consolidated subsidiaries (unless the context indicates another meaning).
The terms "Common Stock" and "Shares" as defined and used in this reoffer prospectus refer to the common
stock, no par value, of First Bancorp.
You should rely
only on the information contained in this reoffer prospectus or a prospectus supplement. We have not authorized anyone to provide
you with additional or different information. If anyone provides you with additional or different information, you should not rely
on it. The information contained in this prospectus, or any applicable prospectus supplement and the documents incorporated by
reference herein or therein are accurate only as of the date such information is presented. Our business, prospects, financial
condition, liquidity and results of operations may have changed since the date of this reoffer prospectus. You should also read
this reoffer prospectus together with the additional information described under the headings "Where You Can Find Additional
Information" and "Incorporation of Certain Documents by Reference." This reoffer prospectus may be supplemented
from time to time to add, update or change information in this prospectus. Any statement contained in this reoffer prospectus will
be deemed to be modified or superseded for purposes of this reoffer prospectus to the extent that a statement contained in such
prospectus supplement modifies or supersedes such statement. Any statement so modified will be deemed to constitute a part of this
reoffer prospectus only as so modified, and any statement so superseded will be deemed not to constitute a part of this prospectus.
-
i
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Table of Contents
REOFFER PROSPECTUS
        SUMMARY
The following summary highlights
        information contained elsewhere in this reoffer prospectus and the information included or incorporated by reference in this reoffer
        prospectus. It may not contain all the information that may be important to you. You should read this entire reoffer prospectus
        carefully, especially the risks relating to our business and common stock discussed under the heading "Risk Factors."
Our Company
First Bancorp (the
        "Company") is a bank holding company. Our principal activity is the ownership and operation of First Bank (the "Bank"),
        a state-chartered bank with its main office in Southern Pines, North Carolina. The Company is also the parent to a series of statutory
        business trusts organized under the laws of the State of Delaware that were created for the purpose of issuing trust preferred
        debt securities. Our outstanding debt associated with these trusts was $46.4 million at December 31, 2013 and 2012.
The Company was
        incorporated in North Carolina on December 8, 1983, as Montgomery Bancorp, for the purpose of acquiring 100% of the outstanding
        common stock of the Bank through a stock-for-stock exchange. On December 31, 1986, the Company changed its name to First Bancorp
        to conform its name to the name of the Bank, which had changed its name from Bank of Montgomery to First Bank in 1985.
The Bank was organized
        in 1934 and began banking operations in 1935 as the Bank of Montgomery, named for the county in which it operated. Until September
        2013, the Bank's main office was in Troy, North Carolina, located in the center of Montgomery County. In September 2013,
        the Company and the Bank moved their main offices approximately 45 miles to Southern Pines, North Carolina, in Moore County. As
        of December 31, 2013, we conducted business from 96 branches covering a geographical area from Florence, South Carolina to
        the southeast, to Wilmington, North Carolina to the east, to Kill Devil Hills, North Carolina to the northeast, to Salem, Virginia
        to the north, to Abingdon, Virginia to the northwest, and to Asheville, North Carolina to the west. We also have loan production
        offices in Charlotte, Greenville, and Fayetteville, all in North Carolina. Of the Bank's 96 branches, 81 branches are in
        North Carolina, seven branches are in South Carolina and eight branches are in Virginia (where we operate under the name "First
        Bank of Virginia"). Ranked by assets, the Bank was the fifth largest bank headquartered in North Carolina as of December
        31, 2013.
As of December 31,
        2013, the Bank had two wholly owned subsidiaries, First Bank Insurance Services, Inc. ("First Bank Insurance") and
        First Troy SPE, LLC. First Bank Insurance's primary business activity is the placement of property and casualty insurance
        coverage. First Troy SPE, LLC, which was organized in December 2009, is a holding entity for certain foreclosed properties.
Our principal executive
        offices are located at 300 SW Broad Street, Southern Pines, North Carolina, 28387, and our telephone number is (910) 246-2500.
        Our website address is www.LocalFirstBank.com. Information contained on, or that can be accessed through, our website is not part
        of, nor incorporated into, this prospectus.
RISK FACTORS
An investment in
our Common Stock involves a high degree of risk. You should carefully consider the risks and uncertainties and all other information
contained in this reoffer prospectus, including the risks and uncertainties discussed under "Risk Factors" in our Annual
Report on Form 10-K for the year ended December 31, 2013 (the "2013 Form 10-K), filed with the Securities and Exchange
Commission (the "SEC" or the "Commission") on March 17, 2014. All of these "Risk Factors" are
incorporated by reference herein in their entirety. These risks and uncertainties are not the only ones facing us. Additional risks
of which we are not presently aware or that we currently believe are immaterial may also harm our business and results of operations.
The trading price of our common stock could decline due to the occurrence of any of these risks, and investors could lose all or
part of their investment. In assessing these risks, investors should also refer to the information contained or incorporated by
reference in our other filings with the Commission.
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SPECIAL NOTE REGARDING
FORWARD-LOOKING STATEMENTS
This reoffer prospectus,
the documents incorporated by reference herein and other written reports, documents and oral statements made from time to time
by us may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 regarding our future plans, objectives and expected performance. Specifically, statements that are not historical facts,
including statements accompanied by qualifying words (and their derivatives) such as "may," "would," "could,"
"should," "will," "expect," "believe," "anticipate," "intend,"
"estimate," "plan," "project" or similar expressions are intended to identify forward-looking
statements and convey the uncertainty of future events or outcomes. We caution you that any such forward-looking statements are
based on assumptions that we believe are reasonable, but are subject to a wide range of risks.
The following factors,
among others, could cause our financial performance to differ materially from that expressed in such forward-looking statements:
·
local, regional, national and international economic, political and market conditions and the impact
they may have on us and our customers, and our assessment of that impact;
·
the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest
rate policies of the Board of Governors of the Federal Reserve System; inflation or deflation; and interest rate, market and monetary
fluctuations;
·
changes in deposit flows, loan demand, real estate values and competition within the banking industry;
·
unanticipated changes in the regulatory environment, including the impact of changes in financial
services laws, regulations and policies and the results of examinations of us by our regulatory authorities;
·
the effect of acquisitions we have made or may make in the future, including the failure to achieve
the expected revenue growth, synergies and/or expense savings from such acquisitions; and
·
adverse changes in the securities market.
You should also
consider carefully the statements in the "Risk Factors" section and other sections of this prospectus, any prospectus
supplement, and the documents we incorporate by reference, including, but not limited to, our 2013 Form 10-K, which address additional
factors that could cause our actual results to differ from those set forth in the forward-looking statements.
Because of these
and other uncertainties, our actual future results, performance or achievements, or industry results, may be materially different
from the results contemplated by these forward-looking statements. In addition, our past results do not necessarily indicate our
future results. You should not place undue reliance on any forward-looking statement, which speaks only as of the date it was made.
We do not intend to update these forward-looking statements, even though our situation may change in the future, unless we are
obligated to do so under the federal securities laws. We qualify all of our forward-looking statements by these cautionary statements.
PLAN OF DISTRIBUTION
The 1,000,000 shares
of our Common Stock (the "Shares") offered by this reoffer prospectus may be sold by the Selling Stockholders. Such
sales may be made in one or more transactions at fixed prices that may be changed, at market prices prevailing at the time of sale,
at prices related to such prevailing market prices or at negotiated prices, and may be made on the NASDAQ Global Select Market
or the over-the-counter market or otherwise. In addition, the Selling Stockholders may sell some or all of the Shares through:
·
a block trade in which a broker-dealer may resell a portion of the block, as principal, in order
to facilitate the transaction;
·
purchases by a broker-dealer, as principal, and resale by the broker-dealer for its account;
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·
ordinary brokerage transactions and transactions in which a broker-dealer solicits purchasers;
·
an exchange distribution in accordance with the rules of the applicable exchange;
·
in negotiated transactions;
·
in a combination of any of the above methods of sale; or
·
any other method permitted under applicable law.
The Selling Stockholders
may, to the extent permitted under Company policies and applicable law, also engage in short sales against the box, puts and calls
and other hedging transactions in the Shares or derivatives of the Shares and may sell or deliver the Shares in connection with
these trades. For example, the Selling Stockholders may:
·
enter into transactions involving short sales of our Common Stock by broker-dealers;
·
sell our Common Stock short themselves and redeliver any portion of the Shares to close out their
short positions;
·
enter into option or other types of transactions that require the Selling Stockholder to deliver
Shares to a broker-dealer, who will then resell or transfer the Shares under this reoffer prospectus; or
·
loan or pledge Shares to a broker-dealer, who may sell the loaned Shares or, in the event of default,
sell the pledged Shares.
There is no assurance
that any of the Selling Stockholders will sell any or all of the Shares offered by them.
The Selling Stockholders
may negotiate and pay broker-dealers commissions, discounts or concessions for their services. Broker-dealers engaged by the Selling
Stockholders may allow other broker-dealers to participate in resales. However, the Selling Stockholders and any broker-dealers
involved in the sale or resale of the Shares may qualify as "underwriters" within the meaning of Section 2(a)(11) of
the Securities Act. In addition, the broker-dealers' commissions, discounts or concessions may qualify as underwriters'
compensation under the Securities Act.
The Selling Stockholders
will be subject to the reoffer prospectus delivery requirements of the Securities Act, unless exempted therefrom.
In addition to selling
the Shares under this reoffer prospectus, the Selling Stockholders may:
·
transfer their Shares in other ways not involving market makers or established trading markets,
including, but not limited to, directly by gift, distribution, privately negotiated transactions in compliance with applicable
law or other transfer; or
·
sell their Shares under Rule 144 of the Securities Act rather than under this reoffer prospectus,
if the transaction meets the requirements of Rule 144.
Each Selling Stockholder
will bear all expenses with respect to the offering of the Shares by such Selling Stockholder.
Each Selling Stockholder
will be subject to the applicable provisions of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and the associated rules and regulations under the Exchange Act, including Regulation M, which provisions may limit the timing
of purchases and sales of shares of our Common Stock by the Selling Stockholders.
The Selling Stockholders
may from time to time pledge or grant a security interest in some or all of the Shares owned by them and, if they default in the
performance of their secured obligations, the pledgees or secured parties may offer and sell the Shares from time to time under
this reoffer prospectus after an amendment has been filed under Rule 424(b) or other applicable provision of the Securities Act
amending the list of Selling Stockholders to include the pledgee, transferee or other successors in interest as "Selling
Stockholders" under this reoffer prospectus.
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The Selling Stockholders
also may transfer the Shares in other circumstances, in which case the respective pledgees, transferees or other successors in
interest may be the selling beneficial owners for purposes of this reoffer prospectus and may sell such Shares from time to time
under this reoffer prospectus after an amendment or supplement has been filed under Rule 424(b) or other applicable provision of
the Securities Act amending or supplementing the list of Selling Stockholders to include the pledgee, transferee or other successors
in interest as "Selling Stockholders" under this reoffer prospectus.
We will make copies
of this reoffer prospectus available to the Selling Stockholders and have informed them of the need to deliver copies of this reoffer
prospectus to purchasers at or prior to the time of any sale of the Shares.
We will bear all
costs, expenses and fees in connection with the registration of the Shares. The Selling Stockholders will bear all commissions
and discounts, if any, attributable to the resale of the Shares. The Selling Stockholders may agree to indemnify any broker-dealer
or agent that participates in transactions involving sales of the Shares against certain liabilities, including liabilities arising
under the Securities Act.
Once sold under
the registration statement of which this reoffer prospectus is a part, the Shares will be freely tradable in the hands of persons
other than our affiliates.
USE OF PROCEEDS
The Selling Stockholders
will receive all of the proceeds from the sale of the Shares offered for sale under this reoffer prospectus. We will not receive
any proceeds from the sale of the Shares by the Selling Stockholders.
SELLING STOCKHOLDERS
This prospectus
relates to Shares that are being registered for reoffers and resale by the Selling Stockholders listed below, or future Selling
Stockholders. The Selling Stockholders are the holders of "restricted securities" or "control securities"
acquired under the Plan and include, and may include in the future, certain directors, officers and others who may be deemed to
be "affiliates" who acquired or may acquire Shares under the Plan. The Selling Stockholders may resell any or all of
the Shares at any time while this prospectus is current.
Executive officers,
directors or others who are considered to be affiliates of the Company who may acquire Common Stock under the Plan may be added
to the list of Selling Stockholders and the Shares to be sold may be increased or decreased by the use of a prospectus supplement
filed with the SEC.
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Table of Contents
The inclusion of
Shares in the table below does not constitute a commitment to sell any of the Shares.
Selling Stockholder(1)
Position
Number of
Shares
Beneficially
Owned Before
Offering
(1)(2)
Number of
Shares
Covered by
This
Prospectus
(3)
Number of
Shares
Beneficially
Owned After
Offering
(2)(4)
Percentage
of Shares
Beneficially
Owned after
Offering
(5)
Daniel T. Blue, Jr.
Director
8,511
915
7,596
*
Jack D. Briggs
Director
149,518
(6)
915
148,603
(6)
*
Mary Clara Capel
Director
20,959
915
20,044
*
James C. Crawford, III
Director
73,357
(7)
915
72,442
(7)
*
James G. Hudson, Jr.
Director
101,351
(8)
915
100,436
(8)
*
George R. Perkins, Jr.
Director
509,606
915
508,691
2.58%
Thomas F. Phillips
Director
91,186
(9)
915
90,271
(9)
*
Frederick L. Taylor, II
Director
31,225
915
30,310
*
Virginia C. Thomasson
Director
32,848
915
31,933
*
Dennis A. Wicker
Director
30,342
(10)
915
29,427
(10)
*
John C. Willis
Director
321,802
(11)
915
320,887
(11)
1.63%
_________________
*Less than
1%
(1)
If required, information about other selling stockholders, except for any future transferees, pledgees
or other successors of Selling Stockholders named in this table, will be set forth in a reoffer prospectus supplement or amendment
to the registration statement of which this reoffer prospectus is a part. Additionally, post-effective amendments to the registration
statement will, to the extent necessary, be filed to disclose any material changes to the plan of distribution from the description
contained in the final reoffer prospectus.
(2)
Amounts include Common Stock beneficially owned or that may be acquired upon the exercise of options
within 60 days of June 27, 2014. The amounts above include options for the following individuals in the following amounts: Mr.
Briggs, 13,500; Ms. Capel, 11,250; Mr. Crawford, 4,500; Mr. Hudson, 4,500; Mr. Perkins, 13,500; Mr. Phillips, 13,500; Mr. Taylor,
11,250; Ms. Thomasson, 13,500; Mr. Wicker, 13,500; and Mr. Willis, 13,500.
(3)
Does not constitute a commitment to sell any or all of the stated number of Shares of Common Stock.
The number of Shares offered shall be determined from time to time by each Selling Stockholder at its sole discretion.
(4)
This assumes the sale of all Shares offered by the reoffer prospectus and the sale of none of the
other shares of Common Stock listed as beneficially owned before any offering of the Shares.
(5)
Based upon 19,695,316 shares of Common Stock outstanding on June 27, 2014.
(6)
Mr. Briggs' shares include 1,701 shares held as custodian for his daughter, 1,682 shares
held as custodian for his grandchildren, and 42,324 shares held by his spouse.
(7)
Mr. Crawford's shares include 6,325 shares held by his spouse and 6,600 shares held jointly
with his children.
(8)
Mr. Hudson's shares include 3,014 shares held by his spouse.
(9)
Mr. Phillips' shares include 1,965 shares held by his spouse and 186 shares that his spouse
owns jointly with two of their children.
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(10)
Mr. Wicker's shares include 2,000 shares held by his spouse.
(11)
Mr. Willis' shares include 164,737 shares held by his spouse.
LEGAL MATTERS
Certain legal matters
relating to the validity of the Shares offered by this reoffer prospectus will be passed upon for us by Robinson, Bradshaw &
Hinson, P.A., Charlotte, North Carolina. As of June 27, 2014, members of Robinson, Bradshaw & Hinson, P.A. beneficially owned
less than 1% of the Company's Common Stock.
EXPERTS
The consolidated
financial statements of First Bancorp as of December 31, 2013 and 2012, and for each of the three years in the three-year period
ended December 31, 2013, have been incorporated by reference herein and in the reoffer prospectus, in reliance upon the report
of Elliott Davis, PLLC, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.
WHERE YOU CAN
FIND ADDITIONAL INFORMATION
We are required
to comply with the reporting requirements of the Exchange Act and file annual, quarterly and other reports with the Commission.
We are also subject to the proxy solicitation requirements of the Exchange Act. We make available free of charge on our website
our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K and amendments to those reports
filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, as soon as reasonably practicable after we electronically
file such material with, or furnish it to, the Commission. We also deliver to our holders of common stock annual reports containing
consolidated financial statements prepared in accordance with United States generally accepted accounting principles and audited
and reported on, with an opinion expressed thereto, by an independent registered public accounting firm.
You may read and
copy all or any portion of the registration statement, of which this reoffer prospectus is a part, or any reports, statements or
other information we file with the Commission at the Commission's public reference room at 100 F Street, NE, Washington,
DE 20549. You can request copies of these documents upon payment of a duplicating fee, by writing to the Commission. Please call
the Commission at 1-800-SEC-0330 for further information on the operation of the public reference rooms. Our Commission filings,
including the registration statement, will also be available to you on the Commission's website at
www.sec.gov
. In
addition, you may request a copy of these filings (excluding exhibits) at no cost by writing or telephoning us at the following
address or telephone number:
First Bancorp
300 SW Broad Street
Southern Pines, North Carolina 28387
Attention: Corporate Secretary
(910) 246-2500
We maintain a website
at www.LocalFirstBank.com. Our website and the information contained on that site, or connected to that site, is not part of or
incorporated by reference into this reoffer prospectus.
No person is authorized
to give any information or to make any representations other than those contained in this reoffer prospectus, and, if given or
made, such information or representations must not be relied upon as having been authorized. Neither the delivery of this reoffer
prospectus nor any distribution of securities made hereunder shall imply that there has been no change in the information set forth
herein or in our affairs since the date of this reoffer prospectus.
INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE
The SEC allows us
to "incorporate by reference" in this prospectus the information in documents filed with it. This means that we can
disclose important information to you by referring you to these documents. The information incorporated by reference is considered
to be a part of this prospectus, and information in documents that we file later with the SEC will automatically update and supersede
information contained in documents filed earlier with the SEC or contained in this prospectus or any prospectus supplement.
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Table of Contents
We incorporate by
reference in this prospectus the documents listed below, except to the extent that any information contained in any such document
is deemed "furnished" in accordance with the rules of the SEC:
·
Our Annual Report on Form 10-K for the year ended December 31, 2013;
·
Our Quarterly Report on Form 10-Q for the quarter ended March 31, 2014;
·
Our Current Reports on Form 8-K filed February 27, 2014, March 14, 2014, May 13, 2014, May 28,
2014 and June 16, 2014;
·
The description of our Common Stock contained in our Registration Statement on Form 8-A as filed
with the SEC on April 8, 1987, including any amendment or report filed for the purpose of updating such description; and
·
All documents subsequently filed by us with the SEC pursuant to Section 13(a), 13(c), 14 and 15(d)
of the Securities Exchange Act of 1934 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 that deregisters all securities
then remaining unsold.
Any statement contained
herein or in the documents incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded
for purposes of this prospectus to the extent that a statement contained herein or in any other subsequently filed document that
also is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement.
Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.
You may request
a copy of these documents, at no cost to you, by writing or telephoning us at:
First Bancorp
300 SW Broad Street
Southern Pines, North Carolina 28387
Attention: Corporate Secretary
(910) 246-5000
Any statement made
in this prospectus or any prospectus supplement concerning the contents of any contract, agreement or other document is only a
summary of the actual document. You may obtain a copy of any document summarized in this prospectus or any prospectus supplement
at no cost by writing to or telephoning us at the address and telephone number given above. Each statement regarding a contract,
agreement or other document is qualified in its entirety by reference to the actual document.
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PART
II
INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents
previously filed by the Company with the Commission are incorporated by reference into this Registration Statement:
(a)           the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2013;
(b)           the Company's
Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2014;
(c)           the Company's
Current Reports on Form 8-K filed on February 27, 2014, March 14, 2014, May 13, 2014, May 28, 2014 and June 16, 2014; and
(d)           the description
of the Company's common stock, no par value per share, contained in the Company's registration statement on Form 8-A
as filed with the SEC on April 8, 1987, including any amendment or report filed for the purpose of updating such description.
All documents subsequently
filed by the Company with the SEC pursuant to Section 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (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 that deregisters all securities then remaining unsold
shall be deemed incorporated by reference into this Registration Statement to be a part hereof from the date of the filing of such
documents.
Any statement contained
herein or in the documents incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed
document that also is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities.
Not applicable.
Item 5.
Interests of Named Experts And Counsel.
Certain matters
relating to the validity of the Common Stock offered by this reoffer prospectus will be passed upon for the Company by Robinson,
Bradshaw & Hinson, P.A., Charlotte, North Carolina. As of June 27, 2014, members of Robinson, Bradshaw & Hinson, P.A.
beneficially owned less than 1% of the Company's Common Stock.
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 Company's articles of incorporation, as amended, limit the personal liability of its directors
to the fullest extent permitted by the Business Corporation Act, as amended from time to time. Any repeal or modification of this
provision by the Company's shareholders will not adversely affect any limitation on the personal liability of a director
of the Company existing at the time of the repeal or modification.
II-
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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 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 of the corporation, or is or was serving at the request of such corporation as a director
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 (i) conducted himself in
good faith, (ii) reasonably believed (a) that any action taken in his official capacity with the corporation was in the best interests
of the corporation or (b) 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 a majority vote of a quorum
of the board of directors (excluding any director party to the proceeding at question), a committee of directors, special legal
counsel or the shareholders in accordance with Section 55-8-55 of the Business Corporation Act. Under the statutory scheme, a corporation
may not indemnify a director in connection with a proceeding by or in the right of the corporation in which the director was adjudged
liable to the corporation or in connection with any other proceeding in which the director was adjudged liable on the basis of
having received an improper personal benefit. Pursuant to Section 55-8-56 of the Business Corporation Act, a corporation may also
indemnify officers, employees or agents under this statutory scheme.
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 entitled to mandatory indemnification under Section 55-8-52 of the Business
Corporation Act or is fairly and reasonably entitled to indemnification in view of all the relevant circumstances.
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, in its articles of incorporation or bylaws, by contract or by resolution,
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.
In addition, 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 Company has
purchased and maintains such insurance.
The Company's
amended and restated bylaws provide that the Company shall indemnify, to the fullest extent permitted by law, any person who at
any time serves or has served as a director, officer, employee or agent of the Company against reasonable expenses (including attorneys'
fees) incurred or reasonable payments made in connection with any pending, threatened or completed civil, criminal, administrative
or investigative action, suit or proceeding, whether or not brought by or on behalf of the Company, by reason of the fact that
he is or was a director, officer, employee or agent of the Company or serves or served any other enterprise as a director, officer,
employee or agent at the request of the Company. The rights of any director or officer include advancement of expenses from time
to time to the fullest extent permitted by law. The amended and restated bylaws provide that the right of indemnification is not
exclusive of other rights to which such person may be entitled, and that the right inures to the legal representatives of such
person. The Company also has separate indemnification agreements with various current and past directors and officers.
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Item 7.
Exemption from Registration Claimed.
The restricted securities
to be reoffered and resold by the Selling Stockholders pursuant to this Registration Statement consist of shares of common stock
that were granted to them as stock awards granted under the Company's 2014 Equity Plan. These awards were exempt from registration
as a private offering under Section 4(a)(2) of the Securities Act.
Item 8.
Exhibits.
See the Exhibit
Index.
Item 9.
Undertakings.
(a)           The Company
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) above 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 Company pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934, as amended (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 Company
hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company'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.
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(c)           The Company
hereby undertakes that insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company 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
Company of expenses incurred or paid by a director, officer or controlling person of the Company 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 Company 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.
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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 Southern Pines, State of North Carolina on this 27th day of June, 2014.
FIRST BANCORP
By:
/s/ Richard H. Moore
Richard H. Moore
President and Chief Executive Officer
KNOW ALL MEN BY
THESE PRESENTS, that each person whose signature appears below constitutes and appoints Richard H. Moore and Eric P. Credle his
true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution, for him or her and in his
name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments, to this
Registration Statement, and any registration statement relating to the offering covered by this Registration Statement and filed
pursuant to Rule 462(b) under the Securities Act of 1933, and to file the same, with exhibits thereto and other documents in connection
therewith, with the Securities and Exchange Commission, granting 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, as fully to all intents
and purposes as he or she might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact
and agents or their substitute or substitutes may lawfully so or cause to be done by virtue hereof.
Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the
dates indicated.
Signature
Title
Date
/s/ Richard
        H. Moore
Richard H. Moore
President, Chief Executive Officer and Director
(
Principal Executive Officer
)
June 27, 2014
/s/ Eric P.
        Credle
Eric P. Credle
Executive Vice President and Chief Financial Officer
(
Principal Financial and Accounting Officer
)
June 27, 2014
/s/ Daniel T.
        Blue, Jr.
Daniel T. Blue, Jr.
Director
June 27, 2014
/s/ Jack D.
        Briggs
Jack D. Briggs
Director
June 27, 2014
/s/ Mary Clara
        Capel
Mary Clara Capel
Director
June 27, 2014
/s/ James C.
        Crawford, III
James C. Crawford
Director
June 27, 2014
Table of Contents
Signature
Title
Date
/s/ James G.
        Hudson, Jr.
James G. Hudson, Jr.
Director
June 27, 2014
George R. Perkins, Jr.
Director
June 27, 2014
/s/ Thomas F.
        Phillips
Thomas F. Phillips
Director
June 27, 2014
/s/ Frederick
        L. Taylor, II
Frederick L. Taylor II
Director
June 27, 2014
/s/ Virginia
        C. Thomasson
Virginia C. Thomasson
Director
June 27, 2014
/s/ Dennis A.
        Wicker
Dennis A. Wicker
Director
June 27, 2014
/s/ John C.
        Willis
John C. Willis
Director
June 27, 2014
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EXHIBIT INDEX
EXHIBIT NO.
DESCRIPTION
4.1
Form of Common Stock Certificate filed as Exhibit 4 to the Company'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. (included in Exhibit 5.1)
23.2*
Consent of Elliott Davis, PLLC
24.1*
Powers of Attorney (included in the signature pages to the Registration Statement)
______________
*Filed herewith