US bank First Carolina set for New York debut after $68.8 million IPO

Forbright

18/06/2026 12:47

** U.S. bank First Carolina Financial Services FCBM.N set for New York debut later on Thursday after $68.8 million IPO
** FCBM sold 5.5 million shares at $12.50 each, below marketed range of $14 and $16 
** Stronger valuations have paved way for a pickup in U.S. bank IPOs over the past 12 months after 2023 regional banking crisis hampered activity
** "The fact that 2025 bank IPOs have outperformed remains a key consideration," said Matt Kennedy, senior ‍strategist at Renaissance Capital, a provider of IPO-focused research and ETFs
** FCBM marks the second U.S. bank IPO of 2026, with John Delaney's Forbright FRBT.O debuting earlier this month
** Keefe, Bruyette & Woods acted as sole bookrunner for offering, while Raymond James and Hovde Group acted as co-managers

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))