PRESS RELEASE January 29, 2008 (For Immediate Release) For More Information, Contact: Lauren Rivers Rivers Agency 888­784­8477 Kids at First Bank Go Looney! TROY, N.C. ­ To assist parents in teaching their children good savings habits, First Bank has recruited the assistance of Bugs Bunny, the Tasmanian Devil and Tweety Bird, kids' favorite Looney Tunes characters. This week, First Bank announced the introduction of the Looney Tunes Savings Club for kids twelve & under. This fun savings program encourages good savings habits by rewarding children for positive behaviors. For example, when a child opens a Looney Tunes savings account, they receive a New Member Kit complete with membership cards, stickers, pencils and other surprises. Every time a child visits a branch and makes a deposit of any size, they get to select a fun toy from the Looney Tunes Treasure Chest. "With consumer debt rising, it's important that our children and grandchildren learn the importance of saving," notes Jerry Ocheltree, President of First Bank. "The Looney Tunes Savings Club is a fun way to teach that lesson." Adds Ocheltree, "Plus, the smile on a child's face when they reach into that Treasure Chest is priceless. That's our reward." The minimum to open a Looney Tunes Savings Club account is only $10. The account earns interest and has no monthly service charges. For more information, visit www.FirstBancorp.com. # # # Aurora, 5, delights in her new toy after opening a new Looney Tunes Savings Club account at the First Bank office in Troy. About First Bancorp First Bancorp is a bank holding company based in Troy, North Carolina with total assets of approximately $2.3 billion. Its principal activity is the ownership and operation of First Bank, a state­ chartered community bank that operates 70 branch offices, with 63 branches operating in a twenty­one county market area in the central piedmont and coastal regions of North Carolina, 3 branches in Dillon County, South Carolina, and 4 branches in Virginia (Abingdon, Dublin, Radford, and Wytheville), where First Bank does business as First Bank of Virginia. The Company 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. Member FDIC. Equal housing lender..