Moore County, Southern Pines Incentivize First Bank Move

We first reported yesterday morning that First Bank will be moving its headquarters from Troy to Southern Pines. Now, The Pilot newspaper from Southern Pines is reporting that public officials in Moore County yesterday approved a package of financial incentives to help lure the bank.

The paper reports that Moore County Commissioners voted 4-to-1 to approve $150,000 over 10 years to defray moving costs, and the Southern Pines Town Council voted unanimously to another $120,000 over 10 years.

Our item yesterday said that First Bank CEO Richard Moore told employees Monday that about 15 executive staff members would be relocating to the new headquarters. The Pilot said yesterday that Moore issued a statement saying that “about 150 of the current 190 jobs” would be kept in Montgomery County.

Bank officials have not confirmed it, but indications are that the move will take place by the middle of the year.

This entry was posted in Finance, First Bank, Government, Moore County, News, Southern Pines and tagged , , , , , , , . Bookmark the permalink.

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