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

Forbright

18/06/2026 15:34

Updates
** U.S. bank First Carolina Financial Services FCBM.N set for New York debut later on Thursday after $68.8 million IPO

    ** Stock recently indicated to open between $12.50 and $13.50 apiece versus $12.50 IPO price
  
** FCBM sold 5.5 million shares below marketed range of between $14 and $16 
** Stronger valuations have paved the 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 the offering, while Raymond James and Hovde Group acted as co-managers

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