401(k) · DOL Form 5500 · 2023

First Bancorp 401(k) Plan

Data updated 2026-08-11

$138M
Total assets
1,169
Participants
93rd
Percentile by assets
$118,416
Avg per participant
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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.

  • 93rd percentile by assets (of 127,072 plans)
  • #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.

$138M
total plan assets (2023 EOY)
1,169
covered participants
93rd
percentile by assets (of 127,072 plans)
$118,416
avg assets per participant

Where First Bancorp Employees' 401(k) Savings Plan sits 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 $2,010,000,000 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

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 →

State
North Carolina
Industry
Finance & Insurance

First Bancorp Employees' 401(k) Savings Plan vs the 2023 asset distribution

By assets, First Bancorp Employees' 401(k) Savings Plan outranks 93% of the 127,072 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 1.4x the national average plan size of $100M (721 average participants).

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)

$130M$140M$150M$160M$170M 202220232024 $142M $164M ▲ +16.0%
Total plan assets by year, all First Bancorp plans on file
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 ($B) Participants First Bancorp Employ…, Total assets ($B): 0.138427806 · Participants: 1169First Bancorp Employ…The Bank of America …, Total assets ($B): 54.848846192 · Participants: 173899The Bank of America …Honeywell 401(k) Plan, Total assets ($B): 15.388124058 · Participants: 40004Honeywell 401(k) PlanDuke Energy Retireme…, Total assets ($B): 10.354065 · Participants: 28121Duke Energy Retireme…Truist Financial Cor…, Total assets ($B): 10.120701726 · Participants: 55480Truist Financial Cor…Nucor Corporation Pr…, Total assets ($B): 8.510660989 · Participants: 24174Nucor Corporation Pr…
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 … side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to First Bancorp Employees' 401(k) Savings Plan by total assets, not by location.

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).

Next read for First Bancorp Employees' 401(k) Savings …

Scale reading

Ways to act on First Bancorp Employees' 401(k) Savings Plan's numbers.

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.