Leadership Transition at First Bancorp with New CEO Adam Currie
First Bancorp Announces Leadership Change
First Bancorp (NASDAQ: FBNC), parent company of First Bank, has made a significant move in its leadership. The Board of Directors has appointed G. Adam Currie as the new Chief Executive Officer (CEO) of First Bank, following his promotion from President. This transition marks a pivotal moment in the bank's journey, as Currie takes charge with the vision of continuing the institution's legacy.
Transition Over Time
Richard H. Moore, CEO and Chairman of the Board, expressed enthusiasm about this succession, highlighting that this change has been anticipated for many years. In his statement, he said, "It is my privilege to hand over the reins to Adam in our 90-year history, a milestone marked by his profound understanding of our operations and the industry. Adam is well-equipped to lead First Bank into its next chapter of success."
Currie's Background
Adam Currie's experience within First Bank has been comprehensive. He has served as President since late 2023 and has held other pivotal roles, including Chief Banking Officer and Regional President. His strategic leadership has been instrumental in expanding the bank’s footprint, particularly in competitive markets. With years of banking expertise, which began at Bank of America, Currie has a proven track record of driving success across various regions.
A Vision for the Future
Expressing his gratitude for this opportunity, Currie stated, "I am honored to lead First Bank, a company dedicated to supporting its customers and communities. I am eager to build on the solid foundation laid by Mike Mayer during his tenure as CEO. My goal is to ensure we maintain strong relationships with our customers while guiding our team toward continued growth and innovation.”
Continuing the Legacy
As part of this leadership change, it is important to note that Michael G. Mayer will continue serving as President until early 2026, ensuring a smooth transition. Moore also conveyed excitement about the future, saying, "This is indeed a thrilling time for First Bank. We are ready for Adam to lead us into this new phase of our growth and success story."
Currie's Educational Credentials
Adam Currie, originally from Charlotte, NC, has a solid academic background. He holds a Bachelor of Arts degree in Economics from the University of North Carolina at Chapel Hill and is a proud graduate of the Graduate School of Banking program at Louisiana State University. His educational qualifications have equipped him with the necessary skills to tackle the complexities of the banking industry.
Employment Agreements and Future Strategies
Recently, First Bancorp also revealed the signing of new employment agreements, including one for Mayer reflecting his adjusted role and responsibilities. Alongside, Christian Wilson will assume the Chief Operating Officer position with new defined responsibilities, highlighting a strategic reorganization aimed at bolstering the bank’s operational framework.
First Bancorp Overview
Headquartered in Southern Pines, North Carolina, First Bancorp boasts approximately $12.2 billion in total assets. The primary operations consist of running First Bank, which features 113 branches across North Carolina and South Carolina. In addition to conventional banking services, First Bank excels in providing SBA loans, broadening its service portfolio to cater to a diverse range of customer needs.
Exciting Times Ahead
This leadership transition is a testament to the forward-thinking approach of First Bancorp, ensuring they remain well-positioned for future challenges and opportunities. The management team looks forward to fully supporting the new CEO in achieving the strategic objectives laid out for growth and customer service excellence. For more information, please visit First Bank's official websites.
Frequently Asked Questions
What changes occurred in leadership at First Bank?
Adam Currie has been appointed as the new CEO, promoting from his previous position as President.
Who will support Adam Currie in this transition?
Michael G. Mayer will continue as President until early 2026, aiding in a smooth transition.
What is Adam Currie's experience in banking?
Currie has over six years in leadership roles at First Bank, including Regional President.
What are First Bank's core offerings?
They provide traditional banking services and specialize in SBA loans.
Where is First Bancorp headquartered?
First Bancorp's headquarters are in Southern Pines, North Carolina, with branches in surrounding states.
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