First Bancorp is a bank holding company that operates through its subsidiary First Bank, providing comprehensive retail and commercial banking services across North Carolina and South Carolina. The company's core business includes traditional lending (commercial, real estate, residential mortgages, and consumer loans), deposit-taking operations, investment securities management, and specialty services such as SBA loan origination, mortgage origination, and wealth management. The company generates revenue primarily through net interest income on its loan and securities portfolios, supplemented by noninterest income from service fees, SBA loan sales, and bank-owned life insurance, with deposits serving as its principal funding source.