First Bancorp (NASDAQ:FBNC) will acquire First Carolina Bancshares for $206M in cash and stock, adding about $831M in assets and 14 South Carolina branches with closing targeted for late 2026–early 2027, as Raymond James upgrades FBNC to Strong Buy and lifts its $75 price target.
Previous Week Recap
- First Bancorp To Buy First Carolina: First Bancorp (FBNC) to buy First Carolina Bancshares for $166M via 1,967,017 FBNC shares plus $40M cash. Deal adds ~$831M assets and 14 SC branches; closes Q4 2026–Q1 2027 pending approvals.
- Raymond James Raises FBNC Target: Raymond James reiterated a Strong Buy rating on First Bancorp NC (FBNC) and raised its price target for the stock to $75 per share from $68.
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