First Bank
First Bank is the largest independent full-service community bank headquartered in North Carolina. Founded as Bank of Montgomery in Troy NC, operates 118 branches across three states offering comprehensive personal and business banking services.
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (65 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
First Bank ranks #85 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of First Bank’s 7(a) acquisition lending falls in the $500K-$1M range: 20 loans, 30.8% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 15 | 23.1% | |
| $500K-$1M | 20 | 30.8% | |
| $1M-$2M | 18 | 27.7% | |
| $2M-$3M | 5 | 7.7% | |
| $3M-$4M | 4 | 6.2% | |
| $4M-$5M | 3 | 4.6% |
Industries with highest loan volume
Residential Remodelers
6
loans
$962K
avg. amount
Landscaping Services
5
loans
$744K
avg. amount
Furniture Retailers
3
loans
$2.5M
avg. amount
Full-Service Restaurants
3
loans
$2.7M
avg. amount
Child Care Services
2
loans
$861K
avg. amount
Couriers and Express Delivery Services
2
loans
$1.5M
avg. amount
Vending Machine Operators
2
loans
$421K
avg. amount
Pet Care (except Veterinary) Services
2
loans
$334K
avg. amount
Janitorial Services
2
loans
$1.0M
avg. amount
Gasoline Stations with Convenience Stores
2
loans
$1.6M
avg. amount
10-Year
4.0%
Percentile Ranking
94th
94th percentile
First Bank’s median variable rate is + 2.50%, against a market median of Prime + 1.88%, 63 above market.
It priced below the market median in 0 of the last 8 quarters. 1 of the 65 loans in its trailing three-year book carried a fixed rate; the rest were variable.
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 2.75% |
| $500K-$1M | Prime + 2.57% |
| $1M-$2M | Prime + 2.53% |
| $2M-$3M | Prime + 2.45% |
| $3M-$4M | Prime + 2.50% |
| $4M-$5M | Prime + 2.08% |
over at time of loan origination
| Quarter | This lender | Market median | Market range | Loans |
|---|---|---|---|---|
| Q4 '23 | Prime + 2.50% | Prime + 2.00% | Prime + 1.42% – Prime + 2.50% | 8 |
| Q1 '24 | Prime + 2.50% | Prime + 2.00% | Prime + 1.48% – Prime + 2.50% | 7 |
| Q2 '24 | Prime + 2.50% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 7 |
| Q3 '24 | Prime + 2.50% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 6 |
| Q4 '24 | Prime + 3.00% | Prime + 2.25% | Prime + 1.50% – Prime + 2.75% | 3 |
| Q1 '25 | Prime + 2.25% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 3 |
| Q2 '25 | Prime + 2.63% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 6 |
| Q4 '25 | Prime + 3.00% | Prime + 2.25% | Prime + 1.67% – Prime + 2.75% | 5 |
First Bank has originated 7(a) acquisition loans in 11 states, most actively in North Carolina (30), South Carolina (8) and California (8). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| North Carolina | 30 | 46.2% |
| South Carolina | 8 | 12.3% |
| California | 8 | 12.3% |
| Georgia | 6 | 9.2% |
| Arizona | 4 | 6.2% |
| Florida | 2 | 3.1% |
| Colorado | 2 | 3.1% |
| New York | 2 | 3.1% |
| Virginia | 1 | 1.5% |
| New Jersey | 1 | 1.5% |
| Iowa | 1 | 1.5% |
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