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First Bancorp CEO James Garner receives $756K in 2006

First Bancorp reports 2006 executive compensation

By ExecPay News

Published: March 27, 2007

First Bancorp reported fiscal year 2006 executive compensation information on March 27, 2007.
In 2006, six executives at First Bancorp received on average a compensation package of $430K.
Average pay of disclosed executives at First Bancorp
James H. Garner, Chief Executive Officer, received $756K in total. 40% of Garner's compensation, or $300K, was in salary. Garner also received $106K of change in pension value and nonqualified deferred compensation earnings, $193K in non-equity incentive plan, as well as $157K in other compensation.
Anna G. Hollers, Chief Operating Officer, received a compensation package of $464K. 52% of the compensation package, or $243K, was in salary.
Jerry L. Ocheltree, Chief Executive Officer, earned $420K in 2006.
Teresa C. Nixon, Executive Vice President Chief Lending Officer, received $358K in 2006.
John F. Burns, Executive Vice President, earned $315K in 2006.
Eric P. Credle, Chief Financial Officer, received $266K in 2006.

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Teresa Nixon

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Eric Credle

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John Burns

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Source: SEC filing on March 27, 2007.