First Bank Appoints New Chief Risk Officer: Bridget Welborn

Core Insights - First Bank has appointed Bridget Welborn as the new Chief Risk Officer and Head of Legal, bringing over 15 years of experience in legal, risk, privacy, and regulatory compliance [1][2][3] - Welborn's previous roles include Senior Counsel at Wyrick Robbins and Chief Privacy & Risk Officer at State Employees' Credit Union, which has over $50 billion in assets [2][3] - The CEO of First Bank, Adam Currie, expressed confidence in Welborn's strategic vision and expertise in risk management as essential for the bank's growth and innovation [3][4] Company Overview - First Bank is a community-focused bank headquartered in Southern Pines, North Carolina, with total assets of approximately $12.8 billion and operates 113 branches in North Carolina and South Carolina [5] - The bank is a subsidiary of First Bancorp, whose common stock is traded on the NASDAQ under the symbol "FBNC" [5] Leadership Transition - Peter Seitz, the current Executive Vice President of Enterprise Risk, will collaborate with Welborn until his retirement at the end of January 2026 [4] - Seitz highlighted Welborn's experience in managing risks in a growing bank as a key factor for her leadership role [4]