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FIRST RECOVERY ANNOUNCES MERGER OF EASTCHESTER RECOVERY SERVICES INTO ITS BUSINESS RECOVERY OPERATION IN TROY, N.C.

 FIRST RECOVERY ANNOUNCES MERGER OF EASTCHESTER RECOVERY SERVICES
 INTO ITS BUSINESS RECOVERY OPERATION IN TROY, N.C.
 TROY, N.C., March 19 /PRNewswire/ -- First Recovery, Inc. announces the merger of Eastchester Recovery Services, High Point, N.C., into its business recovery operation located in Troy, N.C., effective March 10, 1992. First Recovery now serves twenty-five clients located in four states, and is the only commercial hotsite vendor for Unisys mid-range mainframes and IBM S/36 computers, between Baltimore, Md., and Atlanta, Ga.
 James Williford, Vice President of First Recovery, reports, "First Recovery has made a significant commitment to the recovery needs of mid-range clients, by installing a powerful Unisys A5 computer, a high speed DP1800 item sorter for financial institutions, and the additional protection of both a computer equipment UPS system and a diesel generator to keep the building in operation."
 "We have been impressed with First Recovery's investment in and commitment to providing computer 'hotsite' facilities," said Michael Miller, Eastchester President. "Joining the business operations of these two companies avoids duplication and makes good economic sense."
 First Recovery, Inc., is a wholly-owned subsidiary of First Bancorp (NASDAQ-NMS: FBNC), Troy, N.C., a bank holding company, with assets over $230 million.
 -0- 3/19/092
 /CONTACT: James A. Williford, Vice President, First Recovery, 919-576-0901, or Michael C. Miller, President, Eastchester Recovery Services, 919-626-8300/
 (FBNC) CO: First Recovery, Inc.; Eastchester Recovery Services; First Bancorp,
 Inc. ST: North Carolina IN: FIN SU: TNM


CM -- CH007 -- 9705 03/19/92 13:04 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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