FOR IMMEDIATE RELEASE

First Carolina Bank Appoints R. Gregory Ferrell, President – Real Estate Banking

RALEIGH, N.C. (January 2, 2025) ­­– First Carolina Bank (“Bank”) announced today the appointment of R. Gregory Ferrell to the newly created position of President – Real Estate Banking. In this expanded role, Ferrell will lead a team responsible for the strategic planning, growth, profitability, and overall performance of the Bank’s entire real estate-secured book of business, including commercial investor and consumer banking assets and relationships. 

Commenting on the promotion, Ron Day, President and CEO said, “Since joining the Bank over seven years ago, Gregg has exemplified the First Carolina standard of excellence in all that he does and has built a nearly $3 billion real estate banking business that has significantly enhanced shareholder and customer value along the way. He and our team are simply the best in the business, and we expect continued growth in the platform under his leadership.”

Ferrell stated, “We have a positive outlook on all aspects of our real estate banking business in 2025 and see sustained demographics and economic expansion in the Southeast, driving category-specific commercial real estate activity and continued home ownership demand. Our business line platform provides financing expertise for both commercial real estate professionals and consumers. We are open for business and look forward to serving our growing customer base in the months and years to come.”

About First Carolina Bank

First Carolina Bank is a North Carolina state-chartered bank with its main office in Rocky Mount, North Carolina. First Carolina Bank has total assets exceeding $3.1 billion and full-service banking offices in Rocky Mount, Raleigh, Wilmington, Cary and Reidsville, North Carolina; Virginia Beach, Virginia; and Columbia and Greenville, South Carolina; and Atlanta, Georgia. To learn more about First Carolina Bank, please visit our website at www.firstcarolinabank.com.