First Carolina Financial Services Announces Pricing of Initial Public Offering
RALEIGH, N.C.–(BUSINESS WIRE)–First Carolina Financial Services, Inc. (“First Carolina” or the “Company”), the holding company for First Carolina Bank (“Bank”), announced today the pricing of its initial public offering of 5,500,000 shares of its common stock at an initial public offering price of $12.50 per share. The shares are expected to begin trading on June 18, 2026 on the New York Stock Exchange under the ticker symbol “FCBM.” The closing of the offering is expected to occur on June 22, 2026, subject to the satisfaction of customary closing conditions. In addition, First Carolina has granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.
First Carolina intends to use the net proceeds from the offering for general corporate purposes, which may include supporting organic growth, potential acquisitions, refinancing of outstanding indebtedness, and working capital.
Keefe, Bruyette & Woods, A Stifel Company, is acting as sole bookrunner in the offering. Raymond James and Hovde Group are acting as co-managers.
A registration statement on Form S-1 (including a preliminary prospectus) relating to these securities was declared effective by the Securities and Exchange Commission on June 17, 2026. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering, when available, may be obtained by contacting Keefe, Bruyette & Woods, Inc., Attn: Equity Capital Markets, by Telephone: (800) 966-1559 or Email: [email protected].
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Investors may also view the registration statement, preliminary prospectus and, when available, the final prospectus on the SEC’s website at www.sec.gov.
About First Carolina Financial Services, Inc.
First Carolina Financial Services, Inc. operates as a bank holding company for First Carolina Bank that provides financial services for businesses, higher education institutions, and individuals. First Carolina offers a range of deposit and loan products and trust services. First Carolina is headquartered in Raleigh, North Carolina with full-service banking offices in Rocky Mount, Raleigh, Wilmington, Cary, and Reidsville, North Carolina; Virginia Beach, Virginia; Columbia and Greenville, South Carolina; and Atlanta, Georgia.
Company Note Regarding Forward-Looking Statements
This press release contains, and future oral and written statements by us and our management may contain, forward-looking statements. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include, without limitation, statements concerning the satisfaction of customary closing conditions and the completion of the offering, the anticipated use of proceeds from the offering, the expected listing on the New York Stock Exchange and any other statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan” or words or phases of similar meaning. We caution that the forward-looking statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control and could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to: adverse developments in our borrowers’ industries and, in particular, declines in real estate values; our ability to maintain compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed by our business; our ability to manage growth; the loss of any of our key employees; changes in the interest rates affecting our deposits, loans, and securities portfolio; our ability to maintain adequate liquidity and control our cost of funds; the strength of the economy in our current and future market areas, as well as general economic, market, or business conditions; negative developments in the financial industry and credit markets; an insufficient allowance for credit losses as a result of inaccurate assumptions or otherwise; the ability of our current and any future markets to weather a downturn in the economy; our potential growth, including our entrance or expansion into new markets, the opportunities that may be presented to and pursued by us and the need for sufficient capital to support that growth; changes in our competitive position, competitive actions by other financial institutions and the competitive nature of the financial services industry and our ability to compete effectively against other financial institutions in our banking markets; changes in laws, regulations and the policies of federal or state regulators and agencies; governmental monetary and fiscal policies, including the policies of the Federal Reserve; our ability to maintain internal control over financial reporting and an effective risk management framework; our effective use of technology or an interruption or breach in security of our information systems; our reliance on secondary sources, such as FHLB advances, sales of securities and loans, federal funds lines of credit from correspondent banks and out-of-market time deposits, to meet our liquidity needs; inaccurate or incomplete information about our clients; our ability to assess and manage our asset quality; natural disasters, pandemics or other public health crises, war, terrorist activities or civil unrest and their effects on the economic and business environments in which we operate; and risks associated with unauthorized access, cyber-crime and other threats to data security. We assume no obligation and do not intend to update these forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260617463394/en/
Kristen Brabble
Chief Operating Officer
252-451-2964
Diane Fitzgibbons
The IR Group
206-388-5789
KEYWORDS: United States North America North Carolina
INDUSTRY KEYWORDS: Personal Finance Finance Banking Professional Services Small Business
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