TROY, N.C., Aug. 26 /PRNewswire-FirstCall/ -- The Board of Directors of First Bancorp (Nasdaq: FBNC), the parent company of First Bank, has declared a cash dividend of 19 cents per share payable October 24, 2008 to shareholders of record as of September 30, 2008. The dividend of 19 cents per share is unchanged from both the dividend declared in the prior quarter of 2008 and the dividend declared in the third quarter of 2007.

First Bancorp is a bank holding company headquartered in Troy, North Carolina with total assets exceeding $2.6 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 74 branch offices with 63 branches operating in a 21-county market area in the central piedmont and coastal regions of North Carolina, 6 branches in South Carolina (Cheraw, Dillon, Florence, and Latta), and 5 branches in Virginia (Abingdon, Dublin, Fort Chiswell, Radford, and Wytheville), where First Bank does business as First Bank of Virginia. First Bank also has a loan production office in Blacksburg, Virginia. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol 'FBNC.'

Please visit our website at www.FirstBancorp.com. For additional information, please contact:

Mr. Jerry L. Ocheltree

President & Chief Executive Officer

Telephone: (910) 576-6171

SOURCE First Bancorp