First Carolina Financial Services, a community bank with branches in North and South Carolina, Georgia, and Virginia, raised $69 million by offering 5.5 million shares at $12.50, below the $14 to $16 range.
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 will trade on the NYSE under the symbol FCBM. Keefe Bruyette Woods acted as sole bookrunner on the deal.
