secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /NC/ (FBNC)
CIK:        0000811589
Form:       8-K
Filed at:   2025-03-10T23:59:59+00:00
Accession:  0000811589-25-000010
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Bancorp replaces auditor BDO with Crowe LLP effective March 6, 2025
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- Audit Committee engaged Crowe LLP for FY ending Dec 31, 2025; BDO USA dismissed same day.
- No disagreements or adverse opinions between company and BDO for 2023 or 2024.
- Material weakness in IT user access controls (disclosed in 2023 10-K) was fully remediated by June 30, 2024.
- No prior consultations with Crowe regarding accounting principles or audit opinions.
- BDO USA provided letter agreeing with above statements, filed as Exhibit 16.1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811589/000081158925000010/0000811589-25-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811589/000081158925000010/fbnc-20250310.htm
  HTML page:      https://secwatch.observer/filing/0000811589-25-000010

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