First Bancorp, a bank holding company, completed the acquisition of Select Bancorp, the parent company of Select Bank and Trust Company, for $314m. "We are very pleased with today's announcement that our merger with Select Bancorp is now official. We welcome our new customers, associates, and shareholders to First Bank. Select Bank customers can expect to continue to receive the same high level of service to which they are accustomed. Additionally, Select Bank branches will continue to operate under their current name until a systems conversion of customer accounts, which is scheduled for March 2022, and Select Bank customers should continue to conduct their business with their current Select Bank branches until that time," Richard Moore, First Bancorp CEO.