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Exhibit 21

First Bancorp and Subsidiaries

List of Subsidiaries of Registrant

Name of Subsidiary and Name under Which Subsidiary Transacts Business			State of Incorporation
First Bank (1)			North Carolina
First Bancorp Capital Trust II			Delaware
First Bancorp Capital Trust III			Delaware
First Bancorp Capital Trust IV			Delaware
Carolina Capital Trust			Delaware
New Century Statutory Trust I			Delaware
GrandSouth Capital Trust I			Delaware
(1) First Bank has three wholly owned subsidiaries –
First Troy SPE, LLC			North Carolina
Magnolia Financial, Inc.			South Carolina