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In a recent transaction reported to the Securities and Exchange Commission, Ingrid Kachmar, a director at First Bancorp (NASDAQ:FBNC), Inc (NASDAQ:FNLC), purchased 4,000 shares of the company’s common stock. The shares were acquired at a price of $24.10 each, amounting to a total transaction value of $96,400. The stock, currently trading at $24.74, offers a notable 5.82% dividend yield. According to InvestingPro analysis, FNLC appears slightly overvalued at current levels. Following this acquisition, Kachmar’s direct ownership in First Bancorp increased to 5,015.4483 shares. Additionally, she holds 104.5354 shares indirectly through an employee stock purchase plan. This transaction was executed on April 28, 2025, and is part of the regular reporting requirements for company insiders. The $277 million market cap company has maintained dividend payments for 27 consecutive years, with six straight years of dividend increases. InvestingPro subscribers can access additional insights about FNLC’s financial health and growth prospects.
In other recent news, First Bancorp, the parent company of First National Bank, has announced several changes in its executive team. The company promoted Jody Brown to Executive Vice President, Chief Risk Officer, and Marcia Benner to Executive Vice President, Chief Administrative Officer. These promotions follow the retirement of Susan A. Norton, marking a significant transition in the company’s leadership structure. Additionally, Christopher J. Austin has been appointed as the new Clerk of the Company, succeeding Norton in this role. Austin has been with First National Bank since 2024, serving as Executive Vice President and Chief Legal Counsel. These developments are part of First Bancorp’s strategic management changes, as detailed in a recent 8-K filing with the Securities and Exchange Commission. The company continues to operate within the national commercial banks sector, maintaining its fiscal year-end on December 31. Investors are likely to monitor these leadership changes closely, as they often attract market interest.
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