trending Market Intelligence /marketintelligence/en/news-insights/trending/T8LTgL2EP45nmLR9d7NmnQ2 content esgSubNav
In This List

N.C.-based First Bancorp reports share conversion related to private offering

Blog

Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


N.C.-based First Bancorp reports share conversion related to private offering

Southern Pines, N.C.-based First Bancorp converted 728,706 shares of its series C convertible perpetual preferred stock, issued to Castle Creek Partners IV LP, into an equal number of common shares.

The company issued the preferred shares to Castle Creek in a private placement Dec. 21, 2012.

This issuance of the common shares took place Dec. 22, 2016, under an exchange agreement.

The company received no cash proceeds from the transaction.