First Carolina Financial Services, a community bank with branches in North and South Carolina, Georgia, and Virginia, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
First Carolina Bank provides commercial and consumer banking services to small and medium-sized businesses, individuals, professionals, and higher education institutions. The company operates a regional banking footprint alongside a national financial services business, supported by a technology-based platform for portfolio management and risk operations. As of March 31, 2026, First Carolina had $3.4 billion in total assets, $2.7 billion in loans, $3.0 billion in deposits, and $353 million in shareholders' equity, as well as over 524,000 customer deposit accounts.
The Raleigh, NC-based company was founded in 2012 and booked $141 million in revenue for the 12 months ended March 31, 2026. It plans to list on the NYSE under the symbol FCBM. Keefe Bruyette Woods is the sole bookrunner on the deal.
