Dear Carolina Bank Customer,

As you may be aware, Carolina Bank has agreed to merge with First Bank, which is headquartered in Southern Pines, NC. You may have questions and concerns about what this may mean for your personal and business accounts. Below are some answers to some of the more common questions we’ve been hearing.

Why the acquisition?
The short answer: so we can continue to provide the best in products and services.

The longer answer is that increased regulations and low- and flat-interest rate environments have made it challenging for community banks to remain profitable. We are unwilling to shortchange our offerings to clients. This acquisition allows us to continue supplying our clients with the very best products and services, while maintaining the close-knit, family feel and traditions for which we’re known.  

What’s going to change?
Formal merger approval will take six to nine months. In the interim, there will be no interruption in staffing or service. Your Carolina Bank contacts are still here for you, ready to answer any questions and help you move forward.

Updates to products, services and branch locations (we anticipate good things!) will be forthcoming, and we will make sure to keep you in the loop well before, or as these changes occur.

What can you tell me about First Bank?
First Bank was incorporated in 1983 in the Montgomery County town of Troy, NC and moved their corporate headquarters to Southern Pines in 2013. They have $3.5 billion in total assets and presently have 87 branches in the Carolinas.

We screened many banks before the merger and couldn’t be more pleased and positive than we are for having landed with First Bank. We hope this letter answers your initial questions. If you would like more information, please free to contact a Client Service Representative at 336.288.1898. We look forward to continuing to serve you.



Robert T. Braswell

President and Chief Executive Officer