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FIRST BANCORP SUBSIDIARY MONTGOMERY DATA SERVICES ACQUIRES 'HORIZON' INTEGRATED FINANCIAL SOFTWARE SYSTEM FROM SYSTEMATICS, INC.

 TROY, N.C., May 20 /PRNewswire/ -- Montgomery Data Services, Incorporated, Troy, N.C., a subsidiary of First Bancorp (NASDAQ-NMS: FBNC), has just acquired the "HORIZON" Integrated Financial Software System from Systematics, Inc., of Orlando, Fla. Systematics is an industry leader and provider of data processing software to community and savings banks. Systematics is also the largest remarketer of IBM hardware to the financial industry. The "HORIZON" System is a comprehensive banking software system that operates on the highly touted IBM AS/400 computer for processing.
 Montgomery Data Services, Inc., will process a full range of financial applications to include Checking, Savings, IRA and Certificates of Deposit, Commercial, Consumer and Mortgage Loans, General Ledger, ATM and ACH processing, plus a fully integrated Customer Information File (CIF). Montgomery Data Services, Inc., will also utilize the advanced functions of the IBM AS/400 for new client services such as information upload/download, optical disk and report writing.
 David Grigg, president of MDS, states: "The advanced technology and `HORIZON' application functions will provide all community bankers and savings banks with `mainframe capabilities' at a substantial cost savings. The MDS product offering will provide an excellent price-to- performance solution for its clients."
 Montgomery Data Services, Inc., has been in the data processing business since 1980 and has been providing outside data processing services since 1984. Montgomery Data Services, Inc., is a wholly owned subsidiary of First Bancorp, Inc., of Troy, N.C., which is also the parent company of Fist Bank and First Recovery.
 -0- 5/20/93
 /CONTACT: Anna G. Hollars of First Bancorp, 919-576-6171/
 (FBNC)


CO: Montgomery Data Services, Incorporated; First Bancorp, Inc.;
 Systematics, Inc. ST: North Carolina, Florida IN: CPR FIN SU: TNM


CM -- CH005 -- 0221 05/20/93 12:31 EDT
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Publication:PR Newswire
Date:May 20, 1993
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