First Bancorp Announces Retirement of Long-Serving Director Mary Clara Capel

First Bancorp's Board Changes

On January 27, 2026, First Bancorp (NASDAQ: FBNC), the parent company of First Bank, officially announced the retirement of Mary Clara Capel from its Board of Directors, effective immediately. This noteworthy development comes as Capel steps down after serving on the board for over two decades, bringing her extensive experience and legacy in the banking sector to a close.

Mary Clara Capel has been a prominent figure in the company since 2005 and previously held the position of Chair of the Board of Directors. Her family's association with First Bancorp stretches back nearly 70 years, with her father, Jesse Capel, having joined the board in 1959. This consistent presence highlights the Capel family's long-standing commitment and contributions to the company's growth and success.

Prior to her retirement, Mary Clara Capel served as the Director of Administration and Marketing at Capel, Incorporated, a reputable rug manufacturer based in Troy, North Carolina, from 1981 until her retirement in September 2017. With over 37 years of experience in a third-generation family business, she played a critical role in evolving the company from its roots in local rug manufacturing to a global importer and exporter in the industry.

In addition to her corporate duties, Ms. Capel was also a member of the North Carolina Banking Commission and participated in the North Carolina Bank Directors' College, enriching her expertise and leadership abilities during her tenure at First Bancorp. Her contributions and insights have been invaluable to the bank, and the organization's gratitude for her service is evident.

As a local banking institution, First Bancorp has consistently demonstrated a commitment to its community, operating 113 branches across North Carolina and South Carolina. Founded in 1935, First Bank tailors its services to meet the needs of its customers, employing a blend of personalized banking solutions and advanced technology. Furthermore, First Bank is known for its dedication to small business support, offering SBA loans through a wide network of lenders across the nation.

With total assets reaching $12.7 billion, First Bancorp is positioned as a significant player in the financial services sector, navigating changes in the industry with a forward-thinking approach. As the company embarks on a new chapter with the departure of Ms. Capel, it reflects on a rich history and looks forward to continuing its mission of supporting the community and its clients with excellence.

For more information, visit Local First Bank. First Bancorp’s shares are traded on The NASDAQ Global Select Market under the ticker symbol FBNC. Member FDIC and Equal Housing Lender.