North Carolina-based lender seeks to raise capital for growth and debt refinancing in its planned US initial public offering.
First Carolina Financial Services has initiated an initial public offering on the New York Stock Exchange, targeting the ticker FCBM. The bank aims to use proceeds for general corporate purposes, including capital enhancement, debt refinancing, and potential acquisitions. Keefe, Bruyette & Woods leads the transaction as sole bookrunner, with Raymond James and Hovde Group as co-managers.
The Raleigh-based lender reported net income of $5.9m on net interest income of $25.5m for Q1 2026, up from $4.7m on $23.8m a year earlier. As of March 31, 2026, it held $3.4bn in total assets, $2.7bn in loans, and $3bn in deposits. The bank has raised $313.9m through private placements since its 2012 founding.
First Carolina completed its $67m acquisition of digital banking platform BM Technologies in 2025. The IPO remains subject to NYSE approval, according to an SEC filing.