About Us
Commitment
We do the day-to-day things in banking extremely well.
The History of First Carolina Bank
First Carolina Bank has a unique history that is celebrated throughout the organization. It drives our culture and helps us to stay focused on our present communities.
2012
A group of primarily Rocky Mount-area and NC-based individual investors acquire First Carolina Bank.
2013
Employees work diligently to rebrand First Carolina and remedy asset quality issues resulting from the financial crisis. An investment portfolio and asset-liability advisory relationship is formed with principals at Atlanta-based Angel Oak Capital Advisors.
2015
First Carolina partners with Capital Investment Companies to offer wealth management products to its customers and opens a loan production office in Raleigh, NC.
2017
Raleigh loan production office is converted to a full-service branch, and a loan production office opens in Wilmington, NC.
2019
Loan production office opens in Virginia Beach, VA, and a new trust division, First Carolina Wealth, opens in Raleigh.
2020
Wilmington loan production office is converted into a full-service branch, and a full-service branch opens in Cary, NC.
2021
Virginia Beach loan production office is converted to a full-service branch.
2022
Full-service branches open in Columbia, SC and Atlanta, GA.
2023
Full-service branch opens in Greenville, SC. In addition, a sizable partnership with BM Technologies, Inc. is onboarded to add core, insured deposit relationships with students across the country - many of whom are in the Bank's footprint.
2025
Q1 of 2025
After announcing plan of a merger in Q4 of 2024, First Carolina's acquisition of BM Technologies, Inc. is completed demonstrating the Bank's greater commitment to digital banking solutions and higher education financial services.
Today, First Carolina Bank is a premier community financial services institution with a developed presence in the Carolinas, Virginia, and Georgia and has become one of the safest and more efficient banks in the US as measured by credit quality, liquidity, and overall operating practices.
- Headquartered in Rocky Mount, NC with eight additional branches spread across the Carolinas, Georgia, and Virginia (Atlanta, GA; Cary, NC; Columbia, SC; Greenville, SC; Raleigh, NC; Reidsville, NC; Wilmington, NC; Virginia Beach, VA)
- Rated in the top 1% in asset quality and the top 10% in tangible common equity/total assets and efficiency ratio (over the last 12 months) for banks nationwide as of May 2023
- Rated as fastest organically growing bank in the US over the 5-year period ending in December 2020 based on composite growth in assets, loans and deposits
- Established as a full-service institution that can handle all financial needs for individuals and businesses as well as wealth management services through our trust division, First Carolina Wealth and our strategic partnership with Raleigh-based Capital Investment Companies
- Equipped to offer all technology solutions for clients preferring to transact electronically while also providing high touch personal service in client homes or offices
- Focused on building extensive community relationships by hiring highly capable, experienced, and personable personnel
- Recent and future growth being driven by activity from Raleigh location and greater Research Triangle area with stable, low-cost funding support from our branch network
- Top deposit market share in Rocky Mount
- Strong competitive advantage with all branches located in primary markets with growing populations
- Enterprising spirit and service-first focus, with our local teams ready to assist rather than 1-800 help line
Our nine branch locations and service model enable our market reach to span across the majority of counties in our four-state footprint. We stand ready to meet in person or online at your direction to earn your complete relationship!
