SCHEDULE: FMR LLC and Abigail Johnson Disclose 6.7% Stake in First Bancorp NC

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have reported a combined beneficial ownership of 6.7% of First Bancorp NC's common stock as of September 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 2,789,034.69 shares of First Bancorp NC's common stock.
• This ownership represents 6.7% of the total outstanding common stock of First Bancorp NC.
• The event requiring this filing, indicating when the beneficial ownership threshold was met, occurred on September 30, 2025.
• FMR LLC holds sole voting power over 2,780,241.00 shares and sole dispositive power over 2,789,034.69 shares.
• Abigail P. Johnson, as an individual and through her role as Chairman and CEO of FMR LLC, is deemed to beneficially own the same aggregate amount of shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of First Bancorp NC.
• Subsidiaries of FMR LLC, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, and Strategic Advisers LLC, are identified as entities beneficially owning shares.

Sentiment

Score: 7

Explanation: The disclosure of a significant 6.7% stake by a prominent institutional investor like FMR LLC and its CEO, Abigail P. Johnson, is generally viewed positively as it signals strong institutional confidence and interest in First Bancorp NC. The certification that the shares are held in the ordinary course of business and not for control purposes further reinforces a stable, long-term investment perspective.

Positives

• A significant institutional investor, FMR LLC (Fidelity), and its top executive, Abigail P. Johnson, have taken a 6.7% stake in First Bancorp NC, indicating confidence in the company.
• The acquisition of shares is stated to be in the ordinary course of business, suggesting a long-term investment perspective rather than an activist stance.

Risks

• No specific risks related to First Bancorp NC's operations or financial health are disclosed in this beneficial ownership filing, as it primarily focuses on ownership disclosure.

Future Outlook

This filing is a disclosure of current beneficial ownership and does not contain any forward-looking statements or guidance regarding First Bancorp NC's future performance or FMR LLC's future investment intentions beyond the certification that shares are held in the ordinary course of business.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

This Schedule 13G filing indicates a significant passive investment by a major asset management firm, FMR LLC (Fidelity), and its principal, Abigail P. Johnson, in First Bancorp NC. Such filings are standard disclosures when an institutional investor crosses the 5% beneficial ownership threshold in a public company, signaling institutional interest in the banking sector, particularly in regional banks like First Bancorp NC.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure (Schedule 13G) required by the SEC when an entity or group acquires beneficial ownership of more than 5% of a class of a company's voting equity securities, and does not intend to influence or change control of the company.
• FMR LLC, as a large institutional investor, routinely files such reports across various industries and companies, reflecting its investment activities.
• The 6.7% stake is a notable position, demonstrating a significant allocation to First Bancorp NC within FMR's managed portfolios, comparable to other substantial institutional holdings in regional banking entities.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased institutional ownership by a reputable firm like FMR LLC can be seen as a positive signal, potentially boosting investor confidence and liquidity.
• Management: The passive nature of the investment (not for control) suggests FMR LLC is comfortable with current management and strategy, reducing immediate pressure for change.

Next Steps

• FMR LLC and Abigail P. Johnson will continue to monitor their investment in First Bancorp NC.
• Future Schedule 13G/A amendments will be filed if there are material changes to their beneficial ownership (e.g., crossing another 1% threshold up or down, or if they decide to change their investment intent).

Key Dates

Recommendation

The filing indicates a significant, passive institutional investment by FMR LLC and Abigail P. Johnson in First Bancorp NC. While this is a positive signal of confidence, a Schedule 13G filing itself does not provide new operational or financial performance data to warrant a 'buy' or 'sell' recommendation. It primarily confirms institutional interest. Investors should 'hold' and continue to monitor First Bancorp NC's fundamental performance and broader market conditions, as this filing primarily confirms a substantial, non-activist stake.

Keywords

First Bancorp NC, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Fidelity, Bank Stock, Financial Services