March 6, 2013
Hobbs Upchurch & Associates at the corner of SW Broad and Massachusetts streets.
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Moore County officials have subtly tried to recruit First Bank for years, and they agree that it took a team effort to make the deal happen so quickly once they learned earlier this year that the bank was serious.
The bank’s announcement came after the Moore County Board of Commissioners and Southern Pines Town Council on Tuesday approved an economic development grant to lure the corporate headquarters.
The transaction closed Tuesday, according to documents filed at the county courthouse in Carthage. First Bancorp paid $2.65 million for the property, which has an assessed tax value of $3.25 million.
Hobbs Upchurch & Associates has sold its building in downtown Southern Pines to First Bancorp amid published reports that the Troy-based bank may soon move some operations to Moore County.