401(k) · DOL Form 5500 · 2023

First Bancorp 401(k) Plan

Data updated 2026-08-25

$138M
Total assets Near avg plan size
1,169
Participants Near avg headcount
93rd
Percentile by assets National rank
$118,416
Avg per participant Near avg balance/head
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Official DOL plan name: First Bancorp Employees' 401(k) Savings Plan · Sponsored by First Bancorp · North Carolina · Finance & Insurance

$138M in assets, 1,169 participants

First Bancorp's First Bancorp Employees' 401(k) Savings Plan reported $138M in total assets and 1,169 participants in its 2023 DOL Form 5500 filing, ranking in the 93rd percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #7,915 in Finance & Insurance (8,869 peers)

Where First Bancorp Employees' 401(k) Savings Plan sits by assets

First Bancorp Employees' 401(k) Savings Plan sits in the top 10% of all filed plans by assets, $138M for 1,169 participants (~$118,416/participant), up 28.3% in 2023.

#7,915
in Finance & Insurance (8,869 peers)
+28.3%
assets growth YoY
1.4×
vs typical plan assets (national mean)

First Bancorp Employees' 401(k) Savings Plan's outsized position by total assets

First Bancorp Employees' 401(k) Savings Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$138,427,806 Top 7% higher than 93% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

First Bancorp Employees' 401(k) Savings Plan's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. First Bancorp Employees' 401(k) Savings Plan lands in the large band (1,169 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • First Bancorp Employees' 401(k) Savings Plan reported net income rose from -$19M in the plan year 2022 filing to $17M in the plan year 2023 filing.
  • First Bancorp Employees' 401(k) Savings Plan end-of-year assets rose from $108M in the plan year 2022 filing to $138M in the plan year 2023 filing.
  • First Bancorp Employees' 401(k) Savings Plan reported participants rose from 1,155 in the plan year 2022 filing to 1,169 in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 561421916 · First Bancorp PY 2023 · 401(k)

First Bancorp Employees' 401(k) Savings Plan · $138M · 1,169 · 93rd

  • BOY $138M
  • BOY 1,169
  • BOY 93rd
  • BOY 401(k)
  • BOY near Infoblox 401(k) Retirement Plan
  • BOY ind #7915

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in North Carolina →

First Bancorp Employees' 401(k) Savings Plan in the asset neighbourhood

Ig Design Group Americas Inc. 401(k) PlanIg Design Group Americas Inc…$138MInfoblox 401(k) Retirement PlanInfoblox 401(k) Retirement P…$138MFirst Bancorp Employees' 401(k) Savings PlanFirst Bancorp Employees' 401…$138MSky Lakes Medical Center 401(k)Sky Lakes Medical Center 401…$138MUnitil Corporation Tax Deferred Savings and Investment PlanUnitil Corporation Tax Defer…$138M
End-of-year total assets ($M) among First Bancorp Employees' 401(k) Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$108M
Net Assets (End of Year)$138M
Net Income$17M
Employer EIN561421916
Plan Effective Date1985-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (First Bancorp)

Sponsor-wide plan assets over time

All First Bancorp plans reported in each filing year

Latest sponsor-wide plan assets
$164M 15.966377133420373% vs 2022
2024 filing year
$130M$140M$150M$160M$170M 202220232024 $142M $164M ▲ +16.0%
Year Plans Participants Total Assets
2022 2 1,337 $142M
2023 2 1,331 $142M
2024 1 1,378 $164M

Nearby 401(k) Plans in North Carolina

Peer 401(k) plans, same state, same plan type, ranked by total assets.

First Bancorp Employees' 401(k) Savings Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000200000 -200204060 Total assets ($B) Participants First Bancorp Employees' 401(k) Savings Plan, Total assets ($B): 0.138427806 · Participants: 1169First Bancorp Employees' 401(k) Savings PlanThe Bank of America 401(k) Plan, Total assets ($B): 54.848846192 · Participants: 173899The Bank of America 401(k) PlanHoneywell 401(k) Plan, Total assets ($B): 15.388124058 · Participants: 40004Honeywell 401(k) PlanDuke Energy Retirement Savings Plan, Total assets ($B): 10.354065 · Participants: 28121Duke Energy Retirement Savings PlanTruist Financial Corporation 401(k) Savings Plan, Total assets ($B): 10.120701726 · Participants: 55480Truist Financial Corporation 401(k) Savings PlanNucor Corporation Profit Sharing and Retirement Savings Plan, Total assets ($B): 8.510660989 · Participants: 24174Nucor Corporation Profit Sharing and Retirement Savings Plan
First Bancorp Employees' 401(k) Savings Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants
Compare First Bancorp Employees' 401(k) Savings Plan side-by-side with 3 peers →

First Bancorp Employees' 401(k) Savings Plan's out-of-state 401(k) peers by assets and headcount

Outside North Carolina, the nearest 401(k) by assets is Infoblox 401(k) Retirement Plan in CA ($138M); by covered participants it is Ventra Health Retirement Plan in TX (1,169 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($138M here).

Similar participant headcount

Nearest other-state filings by covered participants (1,169 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did First Bancorp Employees' 401(k) Savings Plan assets move in 2023? ▼
First Bancorp Employees' 401(k) Savings Plan grew sharply - up 28.3% during 2023, from $108M to $138M. Reported net income was $17M.
How have First Bancorp plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), First Bancorp's sponsor-wide assets grew 16.0%, from $142M to $164M.
Where does First Bancorp Employees' 401(k) Savings Plan rank by assets among Form 5500 filers? ▼
First Bancorp Employees' 401(k) Savings Plan ranks in the 93rd percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to First Bancorp Employees' 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is Infoblox 401(k) Retirement Plan in CA ($138M, 679 participants).
Which 401(k) plans cover a similar participant headcount to First Bancorp Employees' 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Ventra Health Retirement Plan in TX (1,169 participants, $29M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 561421916.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.