Board of Directors

Richard H. Moore was named as President and Chief Executive Officer of the Company in June 2012. Prior to joining the Company, he served as a managing director of San Diego-based Relational Investors LLC. Prior to joining Relational Investors, Mr. Moore served two terms as State Treasurer of North Carolina and for four years as the Secretary of Crime Control and Public Safety. Mr. Moore also served as Chair of the North Carolina State Banking Commission for eight years. Mr. Moore serves on numerous New York Stock Exchange boards and committees and is the past chair of the NYSE Regulation Board of Directors. Mr. Moore was previously an Assistant U.S. Attorney and also practiced corporate, real estate and tax law for many years. Mr. Moore is a former trustee of Wake Forest University and served on its Investment Committee. Mr. Moore has been a director of the Company and First Bank since 2010.

Mr. Moore’s career has provided him with extensive financial and accounting experience and gives him keen insight with respect to budget and audit matters, as well as the oversight, governance and management of larger organizations.

Michael G. Mayer was named the President of First Bank effective in March 2014, was appointed as a director of First Bank in October 2014, and was named the Chief Executive Officer of First Bank in February 2017. Mr. Mayer was named the President of the Company in February 2016 and was appointed to the Board of Directors in February 2017. Prior to joining the Company, Mr. Mayer served as Chief Executive Officer of 1st Financial Services Corporation, the parent company of Mountain 1st Bank & Trust, a position he held from January 2010 until 1st Financial Services Corporation’s acquisition in January 2014. He previously served as President and Chief Executive Officer of Carolina Commerce Bank from 2009 until 2010 and Colony Signature Bank (In Organization) from 2007 to 2009, and has held various senior banking positions over his 30 year banking career.

Mr. Mayer has had an extensive career in the banking industry and brings experience, leadership, and managerial skills as a result of his work history.

Elizabeth B. Bostian is an Executive Vice President of the Company and First Bank and has served as the Chief Financial Officer of the Company and First Bank since November 2021. Ms. Bostian has been with the Company and First Bank since 2012, serving as Senior Counsel from 2012 to 2017, and then as General Counsel from 2017 until her appointment as Chief Financial Officer. She previously practiced as a Creditor’s Rights attorney at a private law firm for several years prior to joining the Company and First Bank.

Adam holds a Bachelor of Arts in Economics from the University of North Carolina at Chapel Hill and is a graduate of the Graduate School of Banking at Louisiana State University. Prior to joining First Bank, Adam was Managing Director of the Financial Institutions Group at PNC Capital Markets. Prior to that, Adam held a variety of positions at RBC Bank including Chief Operating Officer of Commercial Markets.

James C. Crawford, III, served on the Board of Directors, including as its Chair, of Great Pee Dee Bancorp, Inc., a bank holding company headquartered in Cheraw, SC, from 1992 until its acquisition by the Company in April 2008. Mr. Crawford is the retired Chief Executive Officer of B.C. Moore and Sons, Inc., a department store chain. He has been a director of the Company and First Bank since 2008. Mr. Crawford served as the Chair of the Board of Directors of the Company and First Bank from 2014 until January 2022 and was elected to serve in the newly-created role of Lead Independent Director of the Company in January 2022.

Mr. Crawford brings extensive experience with accounting and finance, as well as oversight and management of multiple businesses.