First Carolina Financial Services, Inc. · NYSE:FCBM
First Carolina Financial Services — 2026 Hovde Group Financial Services Conference
25 slides from First Carolina Financial Services's conference presentation, Nov 5, 2026
Slide 1: Investor Presentation: 2026 Hovde Group Financial Services Conference
NYSE: FCBM Investor Presentation 2026 Hovde Group Financial Services Conference The Ritz-Carlton Orlando, Grande Lakes • Nov 4th to 6th, 2026 © 2026 First Carolina Financial Services, Inc. | All Rights Reserved.
Slide 2: Forward-Looking Statements & Disclaimers
Forward-Looking Statements & Disclaimers NYSE: FCBM This presentation has been prepared by First Carolina Financial Services, Inc. ("First Carolina," "FCBM," or the "Company"). Cautionary Note Regarding Forward-Looking Statements. This presentation contains, and future oral and written statements by
Slide 3: Regional Middle-Market Bank
Regional Middle-Market Bank NYSE: FCBM $3.7B $2.9B $3.2B VA Total Assets Total Loans Total Deposits 64 Richmond • Leveraging a national footprint Virginia Virginia Beach Greensboro Rocky Mount Rocky Mount NC Charlotte Raleigh 95 North Carolina 40 Greenville 85 Columbia Wilmington $13.5B 628,000+ Atl
Slide 4: Unified Business Model
Unified Business Model NYSE: FCBM Customer-driven, product-led, data-informed First Carolina Financial Services Wealth Commercial Banking Payments Consumer Banking Management Higher Commercial Real Estate BankMobile Trust & Education Retail Banking & Industrial Banking Platform Fiduciary Disbursemen
Slide 5: Commercial Banking
Commercial Banking NYSE: FCBM Commercial & Industrial Real Estate Banking • Middle-market banking solutions, • Term and construction financing targeting firms with $25M-150M in solutions for selective CRE properties annual revenue with consistent profitability and deep management teams • Relationshi
Slide 6: Payments (BM Tech)
Payments (BM Tech) NYSE: FCBM Refund Disbursements Strategic Rationale • We are an industry leader in higher • Sticky, low-churn relationships that education funds disbursement provide an enduring source of low-cost • Offering schools seamless options to deposits process financial aid disbursements
Slide 7: Consumer Banking
Consumer Banking NYSE: FCBM BankMobile Retail Banking • Digital-first checking and savings • Built on personalized, relationship-driven accounts through our BankMobile service with local market expertise Platform app • Strong focus on commercial client • Offers market-competitive features, such prin
Slide 8: Wealth Management
Wealth Management NYSE: FCBM • Natural wrap-around offering to complement banking services • Defensive hedge to preclude disintermediation by competitors • Over $109 million of assets under management* • We partner with leaders, such as … * As of September 30, 2026 (Source: Company documents). Note:
Slide 9: Our Core Values
Our Core Values NYSE: FCBM • Built on a culture of stable, consistent leadership and a deeply ingrained high-performance mentality We do the day-to-day things in banking extremely well Enterprising Intentional Responsive Considerate • Can-do business • Do what we say we • Strive to exceed • Lean int
Slide 10: Diversified Loan Portfolio
Diversified Loan Portfolio NYSE: FCBM Commercial & Industrial Commercial Real Estate (CRE) Consumer $633M Total Loans $1.9BTotal Loans $374M Total Loans Middle market commercial banking targeting Commercial real estate financing to sophisticated Residential real estate and other personal financing m
Slide 11: Deposit Portfolio
Deposit Portfolio NYSE: FCBM • Total deposits of $3.2B as of September 30, 2026 • YTD Average Cost of Total Deposits (annualized) of 2.70% • Non-Interest-Bearing Deposits/ Total Deposits of 25% • Non-Brokered Deposits/ Total Deposits of 86% • Strong core deposit growth at a $3.2B Total Deposits 25%
Slide 12: Balance Sheet Growth
Balance Sheet Growth NYSE: FCBM CAGR $3.7B Gross Loans 21% Deposits 25% $3.3B $3.2B Assets 22% $3.0B $2.9B $2.7B $2.8B $2.6B $2.6B $2.5B $2.4B $2.2B $2.1B $1.8B $1.7B $1.4B $1.2B $1.1B 2021 2022 2023 2024 2025 Q3 '26 Gross Loans Deposits Assets Data presented on consolidated basis Dollars in billion
Slide 13: Payments Product Suite
Payments Product Suite NYSE: FCBM Options Product Disbursements Banking Services Prepaid Card Target Customer Universities & Colleges Students & Graduates Students Existing Base 750+ >600K Launched (EOP Q3 ‘26) campuses across 46 states accounts Fall ‘26 Total Addressable Market Money Flows $13.5B $
Slide 14: End-to-End Money Flows
End-to-End Money Flows NYSE: FCBM Source: Company documents, volume measures for the full year 2025. 13
Slide 15: Everyday Banking through BankMobile
Everyday Banking through BankMobile NYSE: FCBM Source: Company documents; Volume measures for the full year 2025. Note: Monetary Active Accts means a Checking account ended a given month during the period with a non-zero balance or had money movement in or out during such month; deposits flows and b
Slide 16: Disciplined Execution
Disciplined Execution NYSE: FCBM • We are focused on: Returning to our historical level of profitability Growing core deposits commensurate with loan growth Maintaining an unwavering focus on credit quality Adhering to self-imposed guardrails Running BM Tech as a suite of products and relationships
Slide 17: Third Quarter 2026 Performance Highlights
Third Quarter 2026 Performance Highlights NYSE: FCBM • Net income of $7.9 million, an increase of $9.9 million from the third quarter of 2025 • Generated $154.1 million of loan growth in the quarter (annualized growth rate of 22.3%) • Expanded net interest margin to 3.38%, up 32 bps from last year •
Slide 18: Profitability Metrics
Profitability Metrics NYSE: FCBM Core Return on Average Assets (%) 1 Core Return on Average Tangible Common Equity (%) 1 Efficiency Ratio (%) 1 Net Interest Margin (%) Note: Quarterly measures reflect annualized ratios. 1. Non-GAAP financial measure; see appendix for a reconciliation of non-GAAP fin
Slide 19: Capital Ratios
Capital Ratios NYSE: FCBM Tangible Common Equity / Tangible Assets (%) 1 Common Equity Tier 1 Ratio (%) CRE Concentration Ratio (%) Total Risk-Based Capital Ratio (%) 1. Non-GAAP financial measure; see appendix for a reconciliation of non-GAAP financial measures. 18
Slide 20: Key Growth Vectors
Key Growth Vectors NYSE: FCBM Expand High- Quality Loan Continue to Grow Portfolio within Core Deposit Base Footprint Deepen and Expand Grow BankMobile Higher Education Everyday Banking Client Relationships Franchise and Services 19
Slide 21: Investment Highlights
Investment Highlights NYSE: FCBM Significant TAMs Across All LOBs Operating in Several of the Best Markets in the Country Strategic Expansion NYSE: FCBM and Scarcity Value Strong Balance Sheet and Public Currency Proven Organic Growth Engine Strong Enterprise Risk Management Foundation and Track Rec
Slide 22: Thank You
Thank You Appendices Follow NYSE: FCBM 21
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures NYSE: FCBM Our accounting and reporting policies conform to GAAP and the prevailing practices in the banking industry. However, we also evaluate our performance based on certain additional non-GAAP financial measures. Management uses these non-GAAP financial measures beca
Slide 24: Non-GAAP Reconciliations
Non-GAAP Reconciliations NYSE: FCBM Note: Historical shares outstanding and per share information for years 2021-2025 and Q1 2026 adjusted for the 2-for-1 forward stock split effected June 17, 2026. 23
Slide 25: Non-GAAP Reconciliations
Non-GAAP Reconciliations NYSE: FCBM Note: Historical shares outstanding and per share information for years 2021-2025 and Q1 2026 adjusted for the 2-for-1 forward stock split effected June 17, 2026. 24
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