Updates

** U.S. bank First Carolina Financial Services' FCBM.N shares rise 3% to $12.86 in New York debut after $68.8 million IPO

** Stock opened at $13.25 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 the 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 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 FCBM offering, while Raymond James and Hovde Group acted as co-managers