FCBM 8-K
First Carolina Financial Services, Inc. (FCBM)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 14, 2026, Steven G. Deaton, Chief Financial Officer and Chief Risk Officer of First Carolina Financial Services, Inc. (the “Company”), provided notice of his retirement from his roles as Chief Financial Officer and Chief Risk Officer of the Company and First Carolina Bank (the “Bank”), a subsidiary of the Company, effective January 1, 2027.
Item 7.01 Regulation FD.
On September 18, 2026, the Company issued a press release announcing the retirement of Mr. Deaton. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
On September 6, 2026, 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. The Company estimated its consolidated and the Bank’s nonconsolidated net interest margin for the months of July, August and September (based on averages from August) 2026 on month-to-date, year-to-date and quarter-to-date bases as follows:
| First Carolina Financial Services, Inc. (Consolidated) | ||||||
| NIM MTD | NIM YTD | NIM QTD | ||||
| July | 3.34% | 3.25% | - | |||
| August | 3.34% | 3.27% | - | |||
| September (Estimate) | 3.34% | 3.28% | 3.34% | |||
| First Carolina Bank | ||||||
| NIM MTD | NIM YTD | NIM QTD | ||||
| July | 3.46% | 3.38% | - | |||
| August | 3.47% | 3.39% | - | |||
| September (Estimate) | 3.47% | 3.40% | 3.47% | |||
The information being furnished pursuant to this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section. Further, the information being furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933 or the Exchange Act.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This report contains, and future oral and written statements by us and our management may contain, forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include discussion of plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include, without limitation, statements that may predict, forecast, indicate or imply future results, performance or achievements. We caution that the forward-looking statements are based largely on our expectations, including estimated financial figures which are preliminary in nature, and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control and could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties are described under “Risk Factors” in our Registration Statement on Form S-1 and subsequent filings with the U.S. Securities and Exchange Commission. We assume no obligation and do not intend to update these forward-looking statements, except as required by law.
Item 9.01 Financial Statements and Exhibits.
Exhibits
| Number |
Description | |
| 99.1 | Press Release by First Carolina Financial Services, Inc., dated September 18, 2026 | |
| 104 | Cover Page Interactive Data File (Embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FIRST CAROLINA FINANCIAL SERVICES, INC. | ||
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Date: September 18, 2026 |
By: |
/s/ Ronald A. Day |
| Ronald A. Day | ||
| Chairman, President and Chief Executive Officer | ||
Exhibit 99.1
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PRESS RELEASE |
FOR IMMEDIATE RELEASE:
First Carolina Financial Services Announces CFO Retirement
RALEIGH, N.C. (September 18, 2026) – First Carolina Financial Services, Inc. (NYSE: FCBM) (“First Carolina” or the “Company”), the holding company for First Carolina Bank (“Bank”), announced today that Steven Deaton, Chief Financial Officer and Chief Risk Officer of the Company and the Bank, plans to retire, effective January 1, 2027.
“We are extremely grateful for Steven’s many contributions to First Carolina,” said Ron Day, Chairman, President, and CEO. “He has led us through a number of key milestones including recent periods of substantial expansion and growth, the acquisition of BM Technologies and our recent initial public offering. Steven has decided to retire from his banking career to focus on his family and personal pursuits. We’re thrilled for him as he steps into this next chapter and wish him much happiness.”
A seasoned banking executive with more than 40 years of broad experience with regional and community banks, Deaton held senior leadership roles, including President, CEO, CFO, Chief Credit Officer, and Chief Risk Officer, across a range of financial institutions.
About First Carolina Financial Services, Inc.
First Carolina Financial Services, Inc. (NYSE: FCBM) operates as a bank holding company for First Carolina Bank that provides financial services for businesses, higher education institutions, and individuals. First Carolina offers a range of deposit and loan products and trust services. First Carolina is headquartered in Raleigh, North Carolina with full-service banking offices in Rocky Mount, Raleigh, Wilmington, Cary, and Reidsville, North Carolina; Virginia Beach, Virginia; Columbia and Greenville, South Carolina; and Atlanta, Georgia. For more information, please visit firstcarolinabank.com. The information contained in, or that can be accessed through, our website is not incorporated by reference in, and is not part of, this press release. The inclusion of our website address in this press release is only as an inactive textual reference.
Investor Relations Contact:
Kristen Brabble
Chief Operating Officer
252-451-2964