FIRST BANCORP /NC/ — Earnings Release 2010

Apr 29, 2010

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 29, 2010

First Bancorp

(Exact Name of Registrant as Specified in its Charter)

| North
Carolina | 0-15572 | 56-1421916 |
| --- | --- | --- |
| (State
or Other Jurisdiction | (Commission | (I.R.S.
Employer |
| of
Incorporation) | File
Number) | Identification
Number) |

| 341
North Main Street, Troy, North Carolina | 27371 |
| --- | --- |
| (Address
of Principal Executive Offices) | (Zip
Code) |

(910) 576-6171

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

First Bancorp

INDEX

| Item 2.02
– Results of Operations and Financial Condition | 3 |
| --- | --- |
| Item 9.01
– Financial Statements and Exhibits | 3 |
| Signatures | 4 |
| Exhibit 99.1 News
Release dated April 29, 2010 | Exhibit |

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Item 2.02 – Results of Operations and Financial Condition

On April 29, 2010, the Registrant issued a news release to announce its financial results for the three month period ended March 31, 2010. The news release is attached hereto as Exhibit 99.1. The news release includes disclosure of net interest income on a tax-equivalent basis, which is a performance measure used by management in operating its business, which management believes provides investors with a more accurate picture of net interest income and net interest margins for comparative purposes.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits

| Exhibit
No. | Description |
| --- | --- |
| 99.1 | Press
release issued on April 29, 2010 |

Disclosures About Forward Looking Statements

The discussions included in this document and its exhibits may contain forward looking statements within the meaning of the Private Securities Litigation Act of 1995, including Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be forward looking statements. Such statements are often characterized by the use of qualifying words such as “expects,” “anticipates,” “believes,” “estimates,” “plans,” “projects,” or other statements concerning opinions or judgments of the Registrant and its management about future events. The accuracy of such forward looking statements could be affected by such factors as, including but not limited to, the financial success or changing conditions or strategies of the Registrant’s customers or vendors, fluctuations in interest rates, actions of government regulators, the availability of capital and personnel or general economic conditions.

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

| First
Bancorp — /s/
Jerry L. Ocheltree |
| --- |
| Jerry
L. Ocheltree |
| President
and Chief Executive Officer |

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