First Carolina Q2 EPS $0.20, net income up 11%; IPO raises $69.3M

First Carolina Financial Services, Inc.

Net income $5.1M ($0.20 diluted EPS) vs $4.6M ($0.18) in Q2 2025, an 11% increase.
Completed IPO of 5.5M shares at $12.50, plus full underwriter option, net proceeds ~$69.3M.
Loan growth $58.1M (annualized 8.9%); net interest margin expanded 18 bps to 3.23%.
Zero net charge-offs; nonperforming assets improved to 0.65% of total assets from 0.89% a year ago.
Brokered deposits declined $211M replaced by $246M non-brokered deposits in H1 2026.

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