First Carolina Financial Services (FCBM) Investor presentation summary

Regional profile and markets

• Assets $3.4B, loans $2.7B and deposits $2.8B as of June 30, 2026; nine full-service offices across the Southeast and 650,000+ deposit accounts.

• Operating markets represent $800B+ GDP, 12M+ population and 200,000+ businesses; projected 2026–2031 population growth is 4.6% vs. 2.6% nationally.

• Core deposits grew at a 23% CAGR since 2021; loans and assets each grew at a 21% CAGR over the period.

Business model and growth platforms

• Unified model spans commercial banking, payments, consumer banking and wealth management, with commercial and real estate banking plus higher-education disbursements.

• Commercial lending targets established middle-market firms with $25M–$150M annual revenue; underwriting emphasizes conservative leverage, debt-service coverage and business cash flow.

• BM Tech processed $13.5B of 2025 refund disbursements across 750+ campuses in 46 states; the platform generates transaction and subscription fees and supports low-cost deposits and cross-selling.

• BankMobile serves 600K+ student and graduate accounts; a prepaid card was expected to launch in fall 2026, with a stated total addressable market of ~$12.0B.

• Growth priorities include expanding high-quality loans and core deposits, deepening higher-education relationships, and growing BankMobile everyday banking.

Balance sheet and credit profile

• Gross loans were $2.7B at Q2 2026: CRE 66%, C&I 21% and consumer 13%; CRE exposure was diversified across property types and geographies.

• Deposits totaled $2.8B; annualized YTD average deposit cost was 2.68%, noninterest-bearing deposits were 21% of total, and non-brokered deposits were 81%.

• Q2 2026 loan growth was $58.1M, an 8.9% annualized rate; the quarter had zero net loan charge-offs, and nonperforming assets were 0.65% of assets vs. 0.89% a year earlier.

• Q2 2026 capital ratios included 8.5% tangible common equity to tangible assets, 9.5% common equity Tier 1 and 12.1% total risk-based capital.