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Non-Tech : First Bancorp

FBNC 48.54

-0.3%

Oct 31 9:30 AM EDT

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From: Tina	8/14/2011 8:41:39 AM
	of 2

4 New Stocks Insiders Are Buying Now fool.com First Bancorp (Nasdaq: FBNC ) [There are two publicly traded banks named First Bancorp. Make sure you're looking at the right one!] Buyers since Aug. 4: Two directors. Largest trade: 5,000 shares at $10 [Current: $9.24]. At $50,000, this is a small purchase, but keep in mind that the bank's market capitalization is less than $200 million. The transaction increased the buyer's ownership stake by nearly 80%. Having briefly perused this community bank's most recent 10-K report, I think it's an intriguing situation for three reasons: Founded in 1934 in North Carolina, First Bancorp is well-embedded in the communities it serves through involvement with and sponsorship of local civic activities. Based on the discussion of their business in the report, I got the impression that the organization has a disciplined lending culture. It will not compete with large interstate banks that undercut them if the business does not meet their profitability targets, for example. First Bancorp is one of the winners of the credit crisis, having bought two banks that were closed by the FDIC. These acquisitions were significant in size and the loss-sharing agreements with the FDIC were made on very favorable terms.

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