{"id":987188,"date":"2026-07-30T08:04:12","date_gmt":"2026-07-30T12:04:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/first-carolina-financial-services-reports-net-income-of-5-1-million-or-0-20-per-diluted-share-for-the-second-quarter-of-2026\/"},"modified":"2026-07-30T08:04:12","modified_gmt":"2026-07-30T12:04:12","slug":"first-carolina-financial-services-reports-net-income-of-5-1-million-or-0-20-per-diluted-share-for-the-second-quarter-of-2026","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/first-carolina-financial-services-reports-net-income-of-5-1-million-or-0-20-per-diluted-share-for-the-second-quarter-of-2026\/","title":{"rendered":"First Carolina Financial Services Reports Net Income of $5.1 Million, or $0.20 Per Diluted Share, for the Second Quarter of 2026"},"content":{"rendered":"

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First Carolina Financial Services Reports Net Income of $5.1 Million, or $0.20 Per Diluted Share, for the Second Quarter of 2026<\/b><\/p>\n

RALEIGH, N.C.–(BUSINESS WIRE<\/a>)–
\nFirst Carolina Financial Services, Inc. (NYSE: FCBM) (\u201cFirst Carolina,\u201d the \u201cCompany,\u201d \u201cwe,\u201d \u201cour,\u201d or \u201cus\u201d), today reported net income of $5.1 million, or $0.20 per diluted share, for the second quarter of 2026, compared to $4.6 million, or $0.18 per diluted share, for the second quarter of 2025, an 11.0% increase in net income. All per share data has been adjusted to reflect the two-for-one stock split completed on June 17, 2026.<\/p>\n

\nThe quarter marked a transformational milestone for First Carolina. On June 22, 2026, the Company successfully completed its initial public offering (the \u201cIPO\u201d) of 5,500,000 shares of common stock at a public offering price of $12.50 per share. First Carolina’s common stock began trading on the New York Stock Exchange (\u201cNYSE\u201d) on June 18, 2026, under the ticker symbol \u201cFCBM.\u201d On June 29, 2026, the underwriters of the IPO exercised their option to purchase additional shares in full, resulting in the sale of an additional 825,000 shares of the Company\u2019s common stock at the public offering price per share. Inclusive of the shares purchased pursuant to the underwriters’ option, the Company received net proceeds of approximately $69.3 million, after deducting underwriting discounts and commissions and expenses of the offering.<\/p>\n

\n\u201cThe first half of 2026 was a landmark period for First Carolina as we successfully completed our initial public offering while continuing to deliver solid financial performance,\u201d said Ron Day, Chairman, President, and Chief Executive Officer. \u201cOur results were driven by solid loan production and net loan growth, material deposit optimization activities, expanding year-over-year net interest margin, disciplined expense management, and exceptional execution across the organization. In particular, in our traditional banking business, for the first six months of 2026, brokered deposits declined $211 million and were replaced by $246 million in less expensive, non-brokered deposits.<\/p>\n

\n\u201cWhat continues to set First Carolina apart is the strength and diversity of our business model. Through our Commercial Banking, Payments, Consumer Banking, and Wealth Management businesses, we are well positioned to serve clients across every stage of their financial journey. Commercial loan production remains robust, with a focus on new variable-rate loan originations to replace maturing lower-yield legacy loans, and this has helped to improve the overall profitability of our balance sheet. At the same time, we are deepening relationships with commercial clients through treasury management solutions that enhance customer engagement and drive valuable operating deposit growth.\u201d<\/p>\n

\nDay added, \u201cWith respect to our Payments business, we continue to strengthen our competitive position by expanding our service offerings. For example, we are partnering with U.S. Bank, a leader in prepaid card solutions, to develop a prepaid card option, which we anticipate will allow us to expand the range of disbursement choices made available to our higher-education institution clients and their students. We have successfully integrated the Payments business into First Carolina and are now focused on the broader banking opportunity across higher education as a strategic growth vertical. Demonstrating this shift, as of June 30, 2026, we have successfully placed $37 million in loan facilities and secured over $37 million in deposits from our base of higher-education institution clients, since completing our acquisition of BM Technologies, Inc. in January 2025.<\/p>\n

\n“We believe our diversified model will be a true differentiator, and we see emerging tailwinds that give us great confidence in our team’s ability to deliver strong shareholder returns while staying grounded in our core values.\u201d<\/p>\n

Second Quarter 2026 Performance Highlights:<\/b><\/p>\n