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Press Release

First Bank Participates In Nationwide Financial Bee Created By EVERFI

Company Release - 4/21/2020 1:00 PM ET

SOUTHERN PINES, N.C., April 21, 2020 /PRNewswire/ -- Maintaining its long-standing commitment to support financial literacy in the communities across the Carolinas, First Bank is sponsoring the EVERFI National Financial Bee—a first-of-its-kind nationwide financial literacy challenge for students in 7th to 10th grade.

Hosted and created by EVERFI, the National Financial Bee takes place April 20-30, 2020, and provides an opportunity for students to have some fun and learn critical financial concepts at home while social distancing during the current pandemic. It features a short daily digital lesson and capstone essay contest in which students will share a financial dream of theirs and how they plan to get there.

The winners of the National Financial Bee will receive a total of $20,000 in college scholarships. First Bank is also offering three $1,000 scholarships to students in the Carolinas who enter through its contest website.

"We've always believed in the power of teaching children to save and to be smart with their money," said Bill Bunn, EVP and branch banking executive. "The National Financial Bee was an ideal vehicle to do that at a time of unprecedented uncertainty. We are proud to support parents and students in this way, and hope it helps drive dinner-table conversations about important financial topics."

During each day of the challenge, participating students will gain new skills to create a personalized financial decision-making framework that they can apply to their lives now and in the future. Topics include spending and saving, credit and debt, employment and income, investing, and insurance.

"Across the country, families are facing unprecedented uncertainties and challenges. Parents are dealing with the loss of income or are adjusting to working from home, while students are trying to continue their studies outside of the classroom," said Ray Martinez, founder, and president, EVERFI. "We've always been committed to helping students increase their financial literacy, and during this historic time we are also working to help parents feel secure -- and help students stay engaged. The National Financial Bee is a fun way for students to compete with their peers while social distancing."

Beyond the contest, EVERFI works with First Bank to provide free financial education courses on the bank's website and through its First@Work program to employees at companies across North Carolina and South Carolina.

To learn more about the National Financial Bee, or to participate, visit https://localfirstbank.com/everfi.

About First Bank

First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $6.1 billion. As a state-chartered community bank, First Bank operates 101 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC." Visit our website at www.LocalFirstBank.com. Member FDIC, Equal Housing Lender.

About EVERFI

EVERFI is an international technology company driving social change through education to address the most challenging issues affecting society ranging from financial wellness to prescription drug safety to workplace conduct and other critical topics. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) community engagement platform and has reached more than 41 million learners globally. Recognized as one of the World's Most Innovative Companies by Fast Company in 2020, EVERFI powers community engagement in a sustained manner to empower individuals and organizations to make an impact within their communities. The Company also convenes Networks to bring together financial institutions, colleges, and universities, and some of the largest corporations to leverage insights and connections to drive impact. Some of America's leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, as well as Advance, Rethink Education and Rethink Impact. Learn more about EVERFI at everfi.com.

 

(PRNewsfoto/First Bancorp)

 

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SOURCE First Bank