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First Bank Streamlines Loan Origination with Baker Hills Consumer Lending and Online Loan Application Solution

Baker
Hill, a leading provider of technology solutions for common loan
origination, risk management, relationship management and smart data
analytics, announced that First
Bank selected Baker Hill’s consumer lending and online loan
application solution to support the bank’s continued growth in the most
efficient manner.

First Bank, the largest community bank headquartered in North Carolina
(Southern Pines) with $5.6 billion in assets and 102 locations, prides
itself on serving the local community and empowering its customers to
reach their financial goals. Following multiple mergers that increased
the community bank’s size, First Bank needed a loan origination system
that would generate efficiencies and enable the bank to better meet the
needs of their customers. First Bank also sought a tool that would
support fast and easy completion of loan applications and ultimately,
streamline the decisioning process.

“Given my familiarity with the company’s technology and the direction
they are taking with the Baker Hill NextGen® platform, our team felt
that Baker Hill’s consumer loan origination system and online loan
application would be the best solutions on the market to accommodate
First Bank’s needs,” said George Lewis, senior vice president, credit
administration. “The ongoing support we have received throughout the
onboarding process paired with the company’s longstanding reputation
within the industry makes this a valuable partnership for us. We look
forward to the benefits these implementations bring to both our
customers and our employees.”

Baker Hill’s consumer lending solution automates the entire consumer
loan origination process from submission to booking and reporting. This
will help reduce the number of manual processes around loan
applications, decrease our time from application to decision, and better
support our strategic growth objectives, all while controlling risk to
the bank. With Baker Hill’s online loan application solution, First Bank
will streamline the loan application process for both customers and
employees, respectively. These solutions facilitate sharing of
information between the field and underwriting, which improves
transparency and expedites decisioning. Together, these solutions will
empower First Bank to achieve and maintain profitable loan growth, as
well as improve the overall lending experience.

“Our goal at Baker Hill is to help community financial institutions,
like First Bank, generate efficient and profitable growth,” said John M.
Deignan, President and CEO of Baker Hill. “With the support and
expertise of our team, combined with the intuitive design of our
solutions, First Bank is positioned to maximize its growth potential and
more importantly, best serve its customers by providing a positive
lending experience.”

About Baker Hill

Baker Hill empowers financial institutions to work smarter and drive
more profitable relationships. The company delivers a single unified
platform with solutions that streamline origination and portfolio
management for business, consumer direct and indirect lending. The Baker
Hill NextGen® platform also delivers sophisticated business
intelligence and revenue enhancement solutions that support sound
business decisions to mitigate risk and generate growth. Baker Hill is
the #1 provider of member business lending services, serving 500
financial institutions, including more than 20% of the top 150 U.S.
banks and 20% of the top 25 U.S. credit unions. For more information,
visit www.bakerhill.com.

About First Bancorp

First Bancorp is the holding company for First Bank and is headquartered
in Southern Pines, North Carolina, with total assets of approximately
$5.6 billion. Its principal activity is the ownership and operation of
First Bank, a state-chartered community bank that operates 102 bank
branches in North Carolina and South Carolina. Since 1935, First Bank
has taken a tailored approach to banking, combining best-in-class
financial solutions, helpful local expertise, and technology to manage a
home or business. First Bancorp’s common stock is traded on the NASDAQ
Global Select Market under the symbol “FBNC.” Visit the website at www.LocalFirstBank.com.
Member FDIC, Equal Housing Lender.

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