First Bancorp - Common Stock (FBNC)

Competitors to First Bancorp - Common Stock (FBNC)

Bank of America 

Bank of America is a nationwide financial institution that competes with First Bancorp in several areas, including consumer banking, small business lending, and mortgage services. With its extensive branch network and robust digital banking platform, Bank of America competes on convenience and a wider range of financial products. While First Bancorp focuses on community banking, Bank of America leverages its size and technological investments, which provides greater scalability and customer outreach capabilities, indicating a competitive advantage in larger markets.

BB&T Corporation

BB&T Corporation, now part of Truist Financial after a merger with SunTrust Banks, offers a wide range of financial services similar to First Bancorp, including banking, insurance, and wealth management. Both companies target retail and commercial clients, providing competitive loan products and deposit accounts. BB&T has a larger scale and resources due to its merger, allowing it to offer more extensive services and technology innovations in banking, giving it a potential competitive edge over First Bancorp.

Regions Financial Corporation 

Regions Financial Corporation operates in the southeastern U.S. and offers services similar to First Bancorp, like retail banking, mortgage, and investment services. Both focus on community engagement and customer service, but Regions Financial has a larger footprint in terms of branch locations and market share. This expansion allows Regions to leverage economies of scale and provide more innovative financial products and services, giving it a competitive advantage over First Bancorp in attracting a broader clientele.

South State Corporation

South State Corporation competes with First Bancorp, primarily in the southeastern U.S., by offering a comprehensive range of banking and financial services. While both institutions capitalize on community banking ideals, South State has been notably aggressive in its expansion and acquisition strategies, which enhance its market share and service offerings. This larger scale can translate into enhanced operational efficiencies and customer reach, putatively giving South State a competitive advantage over First Bancorp.

Wells Fargo & Company 

Wells Fargo is a major player in the banking sector and competes with First Bancorp in consumer and commercial banking services. The company offers an extensive suite of financial products, a robust branch network, and advanced technology-driven solutions. While First Bancorp emphasizes personalized banking and community relationships, Wells Fargo's sheer size and brand recognition offer it a competitive advantage, particularly in attracting larger commercial clients and diverse asset management opportunities.