--- title: "First Carolina Financial Services | 8-K: FY2026 Q2 Revenue: USD 53.52 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294363460.md" datetime: "2026-07-30T12:13:30.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294363460.md) - [en](https://longbridge.com/en/news/294363460.md) - [zh-HK](https://longbridge.com/zh-HK/news/294363460.md) --- # First Carolina Financial Services | 8-K: FY2026 Q2 Revenue: USD 53.52 M Revenue: As of FY2026 Q2, the actual value is USD 53.52 M. EPS: As of FY2026 Q2, the actual value is USD 0.2. EBIT: As of FY2026 Q2, the actual value is USD 7.795 M. ### Net Income First Carolina Financial Services, Inc. reported net income of $5.1 million for the second quarter of 2026, an 11.0% increase from $4.6 million in the second quarter of 2025. For the six months ended June 30, 2026, net income was $11.007 million, compared to $9.296 million for the same period in 2025. ### Net Interest Income Net interest income totaled $25.588 million for the second quarter of 2026, an increase of $2.1 million, or 8.8%, over the second quarter of 2025. For the six months ended June 30, 2026, net interest income was $51.115 million, compared to $47.315 million for the six months ended June 30, 2025. ### Net Interest Margin The company’s net interest margin was 3.23% for the second quarter of 2026, an 18-basis point improvement over the 3.05% reported in the prior year period. This margin modestly declined by two basis points from 3.25% in the first quarter of 2026. For the six months ended June 30, 2026, the net interest margin was 3.24%, up from 3.14% for the same period in 2025. ### Noninterest Income Noninterest income for the second quarter of 2026 was $6.675 million, a decrease of $6.5 million, or 49.5%, from $13.206 million in the second quarter of 2025, primarily reflecting the planned discontinuation of a banking-as-a-service partnership in 2025. For the first six months of 2026, noninterest income totaled $14.316 million, down from $22.894 million in the first six months of 2025. ### Noninterest Expense Noninterest expense totaled $25.502 million for the second quarter of 2026, a decrease of $5.2 million, or 17.1%, from $30.746 million in the second quarter of 2025, driven by workforce right-sizing and reduced consumer fraud and transaction losses. For the six months ended June 30, 2026, total noninterest expense was $51.734 million, compared to $57.864 million for the same period in 2025. ### Provision (Recovery) for Credit Losses During the second quarter of 2026, First Carolina Financial Services, Inc. recorded a provision for credit losses of $273 thousand, compared to a recovery for credit losses of - $169 thousand in the second quarter of 2025. For the six months ended June 30, 2026, there was a recovery for credit losses of - $125 thousand, compared to a provision of $363 thousand for the same period in 2025. ### Total Assets Total assets stood at $3.405 billion at June 30, 2026, an increase of $19.4 million, or 0.6%, compared to $3.386 billion at June 30, 2025. ### Gross Loans Held for Investment Gross loans were $2.742 billion at June 30, 2026, an increase of $45.7 million, or 1.7%, compared to $2.697 billion at June 30, 2025. This also represents an increase of $58.1 million, or 2.2%, from $2.684 billion at March 31, 2026. ### Total Deposits Total deposits were $2.830 billion at June 30, 2026, reflecting a decrease of $107.5 million, or 3.7%, compared to $2.938 billion at June 30, 2025. ### Certificates of Deposit Certificates of deposit were $678.265 million at June 30, 2026, a decrease of $780.8 million, or 53.5%, compared to $1.459 billion at June 30, 2025. This also marked a $219.3 million, or 24.4%, decrease compared to $897.584 million at March 31, 2026. ### Nonperforming Assets Nonperforming assets totaled $22.272 million, or 0.65% of total assets, at June 30, 2026, an improvement from $30.025 million, or 0.89% of total assets, at June 30, 2025. ### Capital Ratios Average shareholders’ equity represented 10.53% of average assets for the second quarter of 2026. Total shareholders’ equity to total assets was 12.66% at June 30, 2026, compared to 10.32% at June 30, 2025. Tangible common equity to tangible assets was 10.85% at June 30, 2026, compared to 8.49% at June 30, 2025. ### Return on Average Assets (ROAA) ROAA was 0.60% for the second quarter of 2026, an increase from 0.56% in the second quarter of 2025. ### Return on Average Equity (ROAE) ROAE was 5.71% for the second quarter of 2026, up from 5.36% in the second quarter of 2025. ### Return on Average Tangible Common Equity (ROATCE) ROATCE was 7.09% for the second quarter of 2026, compared to 6.69% for the second quarter of 2025. ### Efficiency Ratio The efficiency ratio was 79.05% for the second quarter of 2026, an improvement from 83.70% in the second quarter of 2025. ### Cost of Funds The total cost of funds was 2.84% for the second quarter of 2026, a decrease of 30 basis points compared to 3.14% in the second quarter of 2025. Deposit costs were 2.75% for the second quarter of 2026, down 30 basis points from 3.05% in the second quarter of 2025. ### IPO and Strategic Initiatives First Carolina Financial Services, Inc. successfully completed its initial public offering (IPO) on June 22, 2026, selling 5,500,000 shares of common stock at $12.50 per share, resulting in net proceeds of approximately $69.3 million after underwriters exercised their option for additional shares. The company is expanding its Payments business service offerings, including a partnership with U.S. Bank for a prepaid card option for higher-education institution clients. Since acquiring BM Technologies, Inc. in January 2025, the company has placed $37 million in loan facilities and secured over $37 million in deposits from higher-education institution clients as of June 30, 2026. ### Outlook Management believes their diversified business model will be a key differentiator and sees emerging tailwinds that instill confidence in their ability to deliver strong shareholder returns. The company is focused on deepening relationships with commercial clients through treasury management solutions to enhance customer engagement and drive valuable operating deposit growth. Additionally, a new prepaid card option with U.S. Bank is anticipated to expand disbursement choices for higher-education institution clients and students. ### Related Stocks - [FCBM.US](https://longbridge.com/en/quote/FCBM.US.md) ## Related News & Research - [First Carolina Financial Services, Inc. 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