Every 8-K that First Carolina Financial Services, Inc. (FCBM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow FCBM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FCBM filings page.
First Carolina Financial Services, Inc. (FCBM) announced that Steven G. Deaton, its Chief Financial Officer and Chief Risk Officer, plans to retire from his roles at the company and First Carolina Bank effective January 1, 2027.
The company completed a full redemption of $32.0 million aggregate principal amount of its Fixed to Floating Rate Subordinated Notes due December 6, 2029. It also reported estimated consolidated net interest margin for 2026 of about 3.34% for July, August and September month‑to‑date, and bank-level net interest margin of about 3.46%–3.47% over the same period.
First Carolina Financial Services reported second-quarter 2026 net income of $5.1 million, or $0.20 per diluted share, up from $4.6 million, or $0.18, a year earlier, an 11.0% increase in net income. Return on average assets was 0.60%, with return on average equity of 5.71% and return on average tangible common equity of 7.09%. Net interest income rose to $25.6 million, an 8.8% year-over-year increase, and net interest margin expanded to 3.23%, 18 basis points higher than the prior-year quarter as deposit and funding costs declined.
Total assets were $3.41 billion at June 30, 2026. Gross loans reached $2.74 billion, up $45.7 million year over year and $58.1 million from March 31, representing an annualized growth rate of 8.9%. The company continued shifting its funding mix by reducing higher-cost certificates of deposit by 53.5% year over year, helping lower the total cost of funds to 2.84%. Credit quality remained strong, with zero net loan charge-offs and nonperforming assets declining to 0.65% of total assets from 0.89% a year earlier.
During the quarter, First Carolina completed an initial public offering of 5,500,000 shares at $12.50 per share, followed by the underwriters’ full exercise of an option for 825,000 additional shares, generating approximately $69.3 million in net proceeds. Shareholders’ equity increased to $431.2 million, and the tangible common equity to tangible assets ratio improved to 10.85%. Noninterest income fell to $6.7 million, down 49.5% from a year earlier, primarily due to the planned discontinuation of a banking-as-a-service partnership, while noninterest expense decreased 17.1% as the company right-sized the acquired BM Technologies workforce and reduced fraud and processing costs.
First Carolina Financial Services, Inc. completed a major step by closing its initial public offering. On June 22, 2026, the company sold 5,500,000 shares of common stock at $12.50 per share, generating gross proceeds of about $68.75 million before fees and expenses.
In connection with going public, the company implemented a 2-for-1 forward stock split of its $0.50 par value common stock and amended its articles of incorporation. It also adopted amended and restated bylaws, with key terms described in its final prospectus related to the IPO.