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First Bancorp CEO Jerry Ocheltree's 2008 pay stays at $645K

First Bancorp reports 2008 executive compensation

By ExecPay News

Published: April 7, 2009

First Bancorp reported fiscal year 2008 executive compensation information on April 7, 2009.
In 2008, six executives at First Bancorp received on average a compensation package of $444K, a 7% decrease compared to previous year.
Average pay of disclosed executives at First Bancorp
Jerry L. Ocheltree, Chief Executive Officer, received $645K in total, which is about the same as previous year. 53% of Ocheltree's compensation, or $340K, was in salary. Ocheltree also received $107K of change in pension value and nonqualified deferred compensation earnings, $157K in non-equity incentive plan, as well as $41K in other compensation.
Anna G. Hollers, Chief Operating Officer, received a compensation package of $544K, which decreased by 3% compared to previous year. 49% of the compensation package, or $265K, was in salary.
Teresa C. Nixon, Executive Vice President Chief Lending Officer, earned $429K in 2008, a 2% decrease compared to previous year.
John F. Burns, Executive Vice President, received $373K in 2008, which decreases by 4% compared to 2007.
David G. Grigg, Executive Vice President and Chief Information Officer, earned $340K in 2008.
Eric P. Credle, Chief Financial Officer, received $332K in 2008, which decreases by 3% compared to 2007.

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Anna Hollers

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Teresa Nixon

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Eric Credle

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David Grigg

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Source: SEC filing on April 7, 2009.