Defined Benefit (Pension) · DOL Form 5500 · 2023

First Bancorp Pension Plan

Data updated 2026-08-25

$3M
Total assets Small plan by assets
162
Participants Small participant base
38th
Percentile by assets National rank
$21,227
Avg per participant Low balance/head
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Official DOL plan name: First Bancorp Employees' Pension Plan · Sponsored by First Bancorp · North Carolina · Finance & Insurance

$3M in assets, 162 participants

First Bancorp's First Bancorp Employees' Pension Plan reported $3M in total assets and 162 participants in its 2023 DOL Form 5500 filing, ranking in the 38th 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.

  • #2,328 in Finance & Insurance (8,869 peers)

Coverage in North Carolina

First Bancorp Employees' Pension Plan covers 162 participants in North Carolina, about 20% of the average North Carolina filer (state average ~819 per filing). Assets: $3M.

#2,328
in Finance & Insurance (8,869 peers)
-89.8%
assets change YoY

The plan reported a net loss of $30M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

First Bancorp Employees' Pension Plan's mid-pack asset rank among Finance & Insurance and all filers

First Bancorp Employees' Pension Plan vs every filed plan by assets

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

$3,438,704 38th percentile higher than 38% 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' Pension Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. First Bancorp Employees' Pension Plan sits mid-pack in the medium band (162 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • First Bancorp Employees' Pension Plan reported net income fell from -$11M in the plan year 2022 filing to -$30M in the plan year 2023 filing.
  • First Bancorp Employees' Pension Plan end-of-year assets fell from $34M in the plan year 2022 filing to $3M in the plan year 2023 filing.
  • First Bancorp Employees' Pension Plan reported participants fell from 182 in the plan year 2022 filing to 162 in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 561421916 · First Bancorp PY 2023 · Defined Benefit (Pension)

First Bancorp Employees' Pension Plan · $3M · 162 · 38th

  • SCH $3M
  • SCH 162
  • SCH 38th
  • SCH Defined Benefit (Pension)
  • SCH near American Lending Center Holdings Inc. Defined Benefit Pension Plan
  • SCH ind #2328

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' Pension Plan in the asset neighbourhood

American Lending Center Holdings Inc. Defined Benefit Pension PlanAmerican Lending Center Hold…$3MSfmb Management, LLC Cash Balance Pension PlanSfmb Management, LLC Cash Ba…$3MFirst Bancorp Employees' Pension PlanFirst Bancorp Employees' Pen…$3MThe College of Saint Rose Non-Contract Employees' Pension PlanThe College of Saint Rose No…$3MTioga State Bank Pension Plan as a Member of the New York State Bankers Retirement SystemTioga State Bank Pension Pla…$3M
End-of-year total assets ($M) among First Bancorp Employees' Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

North Carolina filing particulars

Total Assets (Beginning of Year)$34M
Net Assets (End of Year)$3M
Net Income-$30M
Employer EIN561421916
Plan Effective Date1987-04-01
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 Defined Benefit (Pension) Plans in North Carolina

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

First Bancorp Employees' Pension Plan vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -200000200004000060000 -505101520 Total assets ($B) Participants First Bancorp Employees' Pension Plan, Total assets ($B): 0.003438704 · Participants: 162First Bancorp Employees' Pension PlanHoneywell Retirement Earnings Plan, Total assets ($B): 16.613752395 · Participants: 11145Honeywell Retirement Earnings PlanTruist Financial Corporation Pension Plan, Total assets ($B): 14.582387965 · Participants: 45818Truist Financial Corporation Pension PlanDuke Energy Retirement Cash Balance Plan, Total assets ($B): 4.0264 · Participants: 14485Duke Energy Retirement Cash Balance PlanDuke Energy Legacy Pension Plan, Total assets ($B): 3.3721 · Participants: 371Duke Energy Legacy Pension PlanEmployees' Retirement Plan of Duke University, Total assets ($B): 2.616859519 · Participants: 21020Employees' Retirement Plan of Duke University
First Bancorp Employees' Pension Plan vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants
Compare First Bancorp Employees' Pension Plan side-by-side with 3 peers →

First Bancorp Employees' Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside North Carolina, the nearest Defined Benefit (Pension) by assets is American Lending Center Holdings Inc. Defined Benefit Pension Plan in CA ($3M); by covered participants it is Lazard Freres & Co. LLC Employees' Pension Plan in NY (162 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (162 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' Pension Plan assets move in 2023? ▼
First Bancorp Employees' Pension Plan contracted severely - down 89.8% during 2023, from $34M to $3M. Reported net income was -$30M.
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.
Which Defined Benefit (Pension) plans are similar in size to First Bancorp Employees' Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is American Lending Center Holdings Inc. Defined Benefit Pension Plan in CA ($3M, 11 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to First Bancorp Employees' Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Lazard Freres & Co. LLC Employees' Pension Plan in NY (162 participants, $16M 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.