A North Carolina-based financial institution has submitted documents to become publicly traded, announcing stronger earnings as banks across the nation continue returning to public markets in 2026.
First Carolina Financial Services, headquartered in Raleigh, North Carolina, revealed earnings of $5.9 million on interest income totaling $25.5 million during the first three months of this year. These figures represent an increase from the same period last year, when the institution earned $4.7 million on interest income of $23.8 million.
The banking sector’s return to public offerings marks a significant shift after activity slowed following the regional banking troubles of 2023. Investors have shown renewed confidence in financial institutions, moving past previous concerns.
Several banks successfully entered public trading last year, including Northpointe Bancshares, Avidbank, Commercial Bancgroup and Central Bancompany.
Another institution, Forbright, established by former U.S. Representative John Delaney, submitted its public offering documents last week as it moves toward market debut.
First Carolina intends to offer new stock shares to investors. The institution operates commercial banking, payment processing, consumer banking and wealth management divisions.
With $3.4 billion in total assets as of March 31, the bank serves customers across North Carolina, Georgia, Virginia and South Carolina.
A group of investors from Rocky Mount and other North Carolina locations purchased First Carolina in 2012, according to company information. Since then, the institution has secured approximately $313.9 million through private investment rounds.
The bank expanded its digital capabilities by purchasing banking technology company BM Technologies in 2025, targeting growth in college financial services.
Keefe, Bruyette & Woods will serve as the primary underwriter for the stock offering, while Raymond James and Hovde Group will assist as co-managers.
The institution plans to trade on the New York Stock Exchange using the ticker symbol “FCBM”.
