First Bancorp, Southern Pines, N.C., hired Fidelity Investments as record keeper of its 401(k) plan, according to an 8-K filing with the Securities and Exchange Commission.
Fidelity will replace Stanley, Hunt, DuPree & Rhine. A blackout period for participants will begin at 4 p.m. EDT on Sept. 20 and is expected to end the week of Oct. 28. A reason for the change was not provided and a First Bancorp spokesman could not immediately be reached for comment.
As of Dec. 31, 2017, the First Bancorp Employees' 401(k) Savings Plan had $78.9 million in net assets, according to the company's most recent Form 5500 filing.