First Carolina Bank
First Carolina Bank is a $3.4 billion-asset community bank operating nine branches across North Carolina, South Carolina, Georgia, and Virginia, providing commercial and consumer banking, treasury management, wealth services, and digital banking (via the BankMobile platform) to SMBs, individuals, professionals, and higher education institutions.
- Company typePublic
- Founded2000
- HeadquartersRocky Mount, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What First Carolina Bank does
First Carolina Bank, operating through holding company First Carolina Financial Services, Inc. (NYSE: FCBM since June 2026), is a $3.4 billion-asset community bank headquartered in Raleigh, North Carolina, with nine full-service branches across North Carolina, South Carolina, Georgia, and Virginia. The bank provides commercial and consumer banking products including business and personal checking and savings, commercial financing, commercial real estate lending, consumer loans, credit cards, treasury management, merchant services, remote deposit capture, and wealth management services through the First Carolina Wealth division. Its primary customer segments are small and medium-sized businesses, individuals and professionals, and — following the February 2025 acquisition of BM Technologies — institutions of higher education served via the BankMobile digital banking platform.
The bank operates on a third-party-driven technology stack: Jack Henry for business online banking and treasury management, ProfitStars/SmartPay for remote deposit capture, Broadridge for shareholder services, and mobile banking applications for iOS and Android. The February 2025 BM Technologies acquisition added digital-first banking infrastructure including disbursement services and identity verification capabilities for higher education and consumer segments, plus proprietary mobile banking apps (VibeUp). The bank is FDIC-insured and offers specialized products including IOLTA attorney trust accounts and ICS/CDARS reciprocal deposit programs.
The revenue model is dominated by net interest income from loans and deposits ($25.5M in Q1 2026, up 7.2% YoY), supplemented by fee-based revenue from treasury management, merchant services, wealth management, and higher education disbursement services. Distribution is via a relationship-led community banking model with dedicated market executives in each region, supported by digital channels and a newly public capital structure following the June 2026 NYSE IPO that raised approximately $68.75 million at $12.50 per share.
First Carolina Bank firmographics
Firmographics- Name
- First Carolina Bank
- Legal name
- First Carolina Financial Services, Inc.
- Website
- https://firstcarolinabank.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Ipo
- Headcount range
- 501–1,000 employees
- Short description
- First Carolina Bank is a $3.4 billion-asset community bank operating nine branches across North Carolina, South Carolina, Georgia, and Virginia, providing commercial and consumer banking, treasury management, wealth services, and digital banking (via the BankMobile platform) to SMBs, individuals, professionals, and higher education institutions.
- Ownership category
- akta.pro rank
First Carolina Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022), National Commercial Banks (6021)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
Keywords
Where First Carolina Bank is headquartered
LocationHeadquarters
- HQ city
- Rocky Mount
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
First Carolina Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Net Interest Income: Primary revenue stream from interest earned on loans (commercial financing, commercial real estate, consumer loans) minus interest paid on deposits. Q1 2026 net interest income was $25.5 million, up 7.2% year-over-year.
- Deposit Products: Revenue from checking, savings, money market, CDs & IRAs, and ICS & CDARS deposit products. Includes commercial and personal deposit accounts.
- Commercial Banking Services: Revenue from commercial financing, commercial real estate lending, credit cards, merchant services, and specialized industry accounts including attorney trust accounts (IOLTAs) and higher education services.
- Wealth Management: First Carolina Wealth division providing wealth management services through Capital Investment Companies Partnership and Wise Wealth programs, targeting high-net-worth individuals and families.
- Higher Education Services: Revenue from BM Technologies partnership providing digital banking and disbursement services to institutions of higher education including BM Technologies, Inc., BankMobile, and identity verification services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Standard banking products with fee schedules available upon request |
Go-to-market motion1 record
Distribution channels9 records
Marketing channels7 records
First Carolina Bank product offering
Product offeringCore offering
First Carolina Bank is a community bank that provides deposit products (checking, savings, money market, CDs, IRAs, ICS & CDARS), commercial and consumer lending (commercial financing, commercial real estate, consumer loans, credit cards), treasury management (remote deposit capture, merchant services, lockbox), and wealth management services through First Carolina Wealth. It also serves institutions of higher education with digital banking, disbursement, and identity verification services through its BM Technologies subsidiary and the BankMobile platform.
Product overview
First Carolina Bank offers a unified community banking platform with a comprehensive suite of deposit, lending, and treasury management products for consumers and businesses. The product portfolio is organized across three main lines: Consumer Banking (checking, savings, loans, credit cards, online/mobile banking), Business Banking (commercial financing, commercial real estate, treasury management, merchant services, remote deposit capture), and Wealth Management (investment advisory, retirement planning, estate planning). Following the February 2025 acquisition of BM Technologies, the bank expanded its digital banking capabilities through the BankMobile platform, adding disbursement services and identity verification for higher education and fintech segments. Services are delivered through physical branches, digital channels (online banking, mobile app), and integrated third-party platforms (Jack Henry for treasury, ProfitStars for remote deposit).
Differentiator
Problem solved
Functional benefit
Brands
- First Carolina Wealth: Wealth management services including investment management, financial planning, and trust services.
- BankMobile
- BM Technologies
Products and services
- Business Checking
Quantifiable outcome
- Q1 2026 net income of $5.9 million, up from $4.7 million year-over-year
- +3 more outcomes
Companies that use First Carolina Bank
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
First Carolina Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature5 records
First Carolina Bank partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and secondary.
- BM Technologies, Inc. (BMTX)coreFirst Carolina Bank completed the acquisition of BM Technologies, Inc. in February 2025, marking a transformative milestone in digital banking. BMTX provides digital-first banking infrastructure, disbursement services, and identity verification solutions. The partnership enables First Carolina to offer fintech-powered banking services to higher education institutions and their students, including BankMobile brand services.
- Jack Henry & AssociatescoreTechnology provider for business online banking and treasury management services. The Jack Henry platform enables First Carolina to offer comprehensive treasury management solutions to commercial customers.
- ProfitStars (Jack Henry subsidiary)secondaryProvides remote deposit capture services for business customers, enabling electronic check deposits through the SmartPay platform.
- Capital Investment CompaniessecondaryWealth management partnership providing investment services and products through the First Carolina Wealth division.
Scale indicators12 records
Recent moves9 records
Expansion highlights6 records
First Carolina Bank competitors and assessment
Company assessmentDirect peers
- First Bancorp: North Carolina-headquartered community bank holding company with similar Southeast regional footprint, comparable asset size, and SMB/commercial banking focus—most directly comparable peer.
- Live Oak Bancshares: North Carolina-chartered community bank with national SMB lending franchise and digital banking focus; comparable size and SMB target market.
- Pinnacle Financial Partners: Southeast-based community bank with branches in NC, SC, GA, TN, VA serving SMBs and professionals with relationship banking model—closely aligned operating philosophy.
- TowneBank: Virginia-based community bank serving similar Mid-Atlantic/Southeast markets with comparable commercial banking focus and similar asset size range.
- Atlantic Union Bankshares: Virginia-headquartered community bank with branches across VA, NC, MD, SC—directly overlapping geographic footprint and similar SMB/commercial banking customer base.
- United Community Banks: Georgia-headquartered community bank with branches throughout the Southeast including NC, SC, GA—directly competing in multiple of First Carolina's core markets.
- First National Bank (FNB Corporation): Mid-Atlantic and Southeast community bank with similar SMB/commercial focus and recently expanded into Carolinas—comparable size and operating model.
Broad incumbents
- Truist Financial: Large Southeast regional bank with significant presence across all four of First Carolina's states; key competitor for SMB and consumer banking customers and a source of market-share migration opportunity.
- Wells Fargo: National money-center bank with substantial Southeast presence and the type of large-bank competitor from which First Carolina's testimonials indicate SMB customers are switching.
Emerging players
- BankMobile (BMTX predecessor): Digital-first banking platform now wholly owned by First Carolina; comparable peer to other digital-first student banking and disbursement fintechs like Varo or Chime in the consumer-facing segment.
Market position
Strengths1 record
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
First Carolina Bank social profiles
Digital presenceFirst Carolina Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Carolina Bank leadership team
Management profileNumber of profiles
Profiles16 records
First Carolina Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
First Carolina Bank funding detail
Funding detailFunding overview
Funding rounds9 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Carolina Bank M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Carolina Bank
What does First Carolina Bank do?
First Carolina Bank is a community bank that provides deposit products (checking, savings, money market, CDs, IRAs, ICS & CDARS), commercial and consumer lending (commercial financing, commercial real estate, consumer loans, credit cards), treasury management (remote deposit capture, merchant services, lockbox), and wealth management services through First Carolina Wealth. It also serves institutions of higher education with digital banking, disbursement, and identity verification services through its BM Technologies subsidiary and the BankMobile platform.
Is First Carolina Bank a public or private company?
First Carolina Bank is a public company. It is classified as public and is currently ipo.
When was First Carolina Bank founded?
First Carolina Bank was founded in 2000. It employs 501 to 1,000 people.
Where is First Carolina Bank based?
First Carolina Bank is headquartered in Rocky Mount, United States, in the North America region.
How does First Carolina Bank make money?
Five revenue lines are on record. Net Interest Income is the primary driver. The others are deposit Products, commercial Banking Services, wealth Management and higher Education Services.
Who are First Carolina Bank's main competitors?
Direct peers on record are First Bancorp, Live Oak Bancshares, Pinnacle Financial Partners, TowneBank, Atlantic Union Bankshares, United Community Banks and First National Bank (FNB Corporation). Broad incumbents are Truist Financial and Wells Fargo. BankMobile (BMTX predecessor) is listed as an emerging player.
Does First Carolina Bank have an API?
No public API is recorded for First Carolina Bank.
What industry is First Carolina Bank in?
First Carolina Bank's product category is Community Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.