NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 12. TRUST PREFERRED SECURITIES Os enc uS reipt iteesmabnedr $2104, 02, 00 00 04 , cFoimr smt Bo annsct oo rc pk . ( FViAr s) tSBt aa tnuctoorrpy (TVrAu)s tS tI aitsus tuoerdy $T4r u. 5s tmI ,i lal i Do ne l oa wf fal or ea tSi nt agt ur at ot er yt rbuusst i np er es sf etrrruesdt iosf aF wl o ha toi lnl yg- oRwa tnee Jdu snui obrs iSdui abroyr do if nt ahtee Cd oDmepbat nSye, cwu ri ti ht i ei tss ds uo el e Saesps teet ms bbeeirn g2 4$ ,42. 50 m3 4i l loi of nF iargs gt rBeagna ct eo rppr,i nI nc icp. a( lt ha emtoruuns tt debenture). The trust preferred securities are non-voting, pay quarterly distributions at a variable rate, and carry a liquidation v3 a1l, u2e0o2f5$) 1a, 0n 0d 0d pi set rr i sbhuat ri oe n. sTfhoer v2a0r2i a5bol en rtahtee tirsutsht eptrherf ee er r- me do snet chuCr Mi t i Ee sSaOnFdR srt aotcek pt lout sa l2e .d2 0$ %3 0 (66, 1. 1860%. TahteDCeocme mp abneyr ht haes Ce xo emc pu at endy ’as goubal irgaant ti eo en swui tnhdreergtahred ttrou tsht ed terbuesnt tpurreef,etrhr ee di nsdeec nu trui tri ee sp. uTr hs ue agnutatroa nwt he ei c, hw thheen t traukset nd et obgeentthuerre wwi at hs iusnsdueerdtahnedtrtuhsetapprpefliecrarbeldestercuustridtioecsu. ment, provides a full and unconditional guarantee of the trust’s obligations After September 24, 2010, the trust preferred securities are redeemable, at the option of the Company, for a rSeedpetemmpbtieorn2p4r, i2c0e3o4f ,$a1t,0a 0r0edpeemr pshtiaornep. rTicheeotfru$s1t,0p0r0efpeerrresdhaserec.urities are subject to a mandatory redemption on On August 5, 2008, First Bancorp (VA) Statutory Trust II issued $5.0 million of floating rate trust preferred si se ca uwr iht ioelsl ya-no dw$n1e5d5s, 0u 0b s0i dc oi amr ymoofnt hs teoCc ko .mFpi rasnt yB, awnict oh ript s( Vs oAl )e Satsasteuttso br ye iTnrgu$s 5t .I0I , ma Di l el i loanwaagr ge rSetgaat ut et oprryi nbcui ps ianl easms toruuns tt odfebFelonatutirneg). Rate Junior Subordinated Debt Securities due August 15, 2035 of First Bancorp, Inc. (the trust The trust preferred securities are non-voting, pay quarterly distributions at a variable rate, and carry a liquidation v3 a1l, u2e0o2f5$) 1a, n0 d0 0d ipset rr i sbhuat iroen. sTfhoer v2a0r2i a5bol en rt ha tee t irsu tsht ep trhe rf eerer-emdosnetchu Cr iMt i eEs SaOnFdRs troa ct ek pt ol ut as l e1 d. 5 $93%0 8( 5, 0. 59 79 %. TahteDCeocme mp abne yr ht haes eCxoemc uptaendya’ s g ou ba rl iagnattei oenws i tuhn rdeegra rt hd et ot rt uh se t t rduesbt epnrteuf reer ,r et dh es ei cnudrei nt i teusr. eT ph ue rgsuuaarnatn tt eoe ,wwhhi cehn tt ahke e tnr ut os gt ept hr eefrewr riet hd d se e c b u e r n it t i u e r s e . was issued and the applicable trust document provides a full obligation under the trust preferred After August 15, 2010, the trust preferred securities are redeemable, at the option of the Company, for a rAeudgeums tp 1t i5o ,n2p0r3i c5e, oa tf $a 1r, 0e d0 e0mp pe rt i os hnapr er i. c Te hoef t$r1u, s0t0p0r epfeerr rsehda rsee.c uFriirt si et sBaarnecsourbpj, eIcnt ct. oma amy acna du as teo trhyer et rduesmt pt ot i odne loa ny ph oa yl dme er sn to fo ft hdei sttrrui bs ut tpi roenfse rorne dt hsee ct ruur si tti epsr ewf eerrree ednstei tcl ue dr i twi ei sl l. cDo mu rpi nogu ns ud cqhudaer ft ee rr rl ya l i np earri roedasr, sdai st t trhi be uat pi opnl isc at ob lwe hr ai ct he for each period.
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