Winston-Salem expansion is key to First Bancorp's urban strategy

Winston-Salem and the Triad are the right markets at the right time for an expanding First Bancorp, according to its top executive.

The Southern Pines bank completes its takeover of four Winston-Salem branches of First Community Bancshares Inc., including unveiling its dark red signage, on Monday.

“We’re an 80-year-old bank that’s the fifth largest based in North Carolina,” said Richard Moore, First Bancorp’s chief executive and former state treasurer.

“We’ve had a small presence in the southern Triad, but knew our future would be tied to having a bigger presence in the parts of the state growing the fastest.

“Our goal the past three years is to make that happen, and Winston-Salem will play a key role as part of the most natural expansion we can make right now,” Moore said.

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