First Carolina Financial Services' (FCBM) stock soared 6.00% during intraday trading on Thursday, marking a strong debut on the New York Stock Exchange.
The surge follows the bank holding company's initial public offering, which raised $68.8 million. The company priced its IPO at $12.50 per share for 5.5 million shares, below its initially marketed range of $14 to $16. The stock was indicated to open between $12.50 and $13.50 ahead of its first trade.
The debut represents the second U.S. bank IPO of 2026 and is part of a pickup in bank listings following a period of subdued activity after the 2023 regional banking crisis. The company plans to use the net proceeds for general corporate purposes, including growth and acquisitions.