First Carolina Financial Services, Inc. (NYSE:FCBM) filed a Form 8-K on September 18, 2026, disclosing the planned retirement of its Chief Financial Officer and Chief Risk Officer, a completed subordinated notes redemption, and preliminary net interest margin estimates for July through September 2026.

Key Highlights

  • CFO retirement notice: Steven G. Deaton provided notice on September 14, 2026, of his retirement as Chief Financial Officer and Chief Risk Officer, effective January 1, 2027.
  • Subordinated notes redeemed: On September 6, 2026, the company completed a full redemption of $32.0 million aggregate principal amount of its Fixed to Floating Rate Subordinated Notes due December 6, 2029.
  • Consolidated NIM (September estimate): The company estimated its consolidated net interest margin at 3.34% month-to-date, 3.28% year-to-date, and 3.34% quarter-to-date for September 2026.
  • Bank-level NIM (September estimate): First Carolina Bank's estimated net interest margin for September 2026 was 3.47% month-to-date, 3.40% year-to-date, and 3.47% quarter-to-date.
  • Emerging growth company: The registrant indicated it qualifies as an emerging growth company under applicable securities regulations.

CFO Departure, Debt Redemption, and NIM Data Disclosed by First Carolina

According to the filing, Steven G. Deaton, who serves as both Chief Financial Officer and Chief Risk Officer of First Carolina Financial Services, Inc. and its subsidiary First Carolina Bank, notified the company on September 14, 2026, of his intention to retire from both roles effective January 1, 2027. The company issued a press release on September 18, 2026, announcing the retirement, attached as Exhibit 99.1 to the filing.

The filing also disclosed that on September 6, 2026, the company completed a full redemption of $32.0 million aggregate principal amount of its Fixed to Floating Rate Subordinated Notes due December 6, 2029. No additional details regarding the redemption mechanics or funding source were provided in the filing text.

Under Item 7.01 (Regulation FD), the company furnished preliminary net interest margin data for July, August, and September 2026. On a consolidated basis, the month-to-date NIM held at 3.34% for all three months, while the year-to-date NIM rose from 3.25% in July to an estimated 3.28% in September. At the First Carolina Bank level, the month-to-date NIM was 3.46% in July, 3.47% in August, and an estimated 3.47% in September. The filing noted that September figures are estimates based on averages from August. The company cautioned that the information furnished under Item 7.01, including the press release, is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into other company filings. The filing was signed by Ronald A. Day, Chairman, President and Chief Executive Officer.

What Was Disclosed

The 8-K disclosed the retirement of First Carolina's CFO and Chief Risk Officer effective January 1, 2027, the completed $32.0 million redemption of subordinated notes, and preliminary consolidated and bank-level net interest margin figures for July through September 2026.