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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street NW
Washington, D.C. 29549
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Form 8-K
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PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 6, 2006
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First Bancorp
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(Exact Name of Registrant as Specified in its Charter)
North Carolina 0-15572 56-1421916
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
341 North Main Street, Troy, North Carolina 27371
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(Address of Principal Executive Offices) (Zip Code)
(910) 576-6171
(Registrant's telephone number, including area code)
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Not Applicable
(Former Name or Former Address, if changed since last report)
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First Bancorp
INDEX
Page
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Item 1.01 - Entry into a Material Definitive Agreement 3
Signatures 4
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Item 1.01 - Entry into a Material Definitive Agreement
On June 6, 2006, the Registrant agreed to purchase the residence of Jerry
L. Ocheltree, a director and executive officer of the Registrant, for $379,000
and to pay approximately $7,000 in moving expenses associated with his move to a
residence closer to the Registrant's headquarters. Mr. Ocheltree's primary
workplace changed from High Point, North Carolina to Troy, North Carolina in
connection with his appointment as President of First Bank, a subsidiary of the
Registrant, during 2005. The purchase price of Mr. Ocheltree's residence was
based on an average of three appraisals, while the amount related to moving
expenses is the lowest of three bids obtained.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
First Bancorp
June 9, 2006 By: /s/ Anna G. Hollers
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Anna G. Hollers
Executive Vice President, Secretary and
Chief Operating Officer
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