First Carolina Financial Services, Inc. (NYSE: FCBM) announced that Steven G. Deaton, the Company’s Chief Financial Officer and Chief Risk Officer, has provided notice of his retirement. The retirement is effective January 1, 2027, and will conclude his tenure at both First Carolina Financial Services, Inc. and its subsidiary, First Carolina Bank.
According to the filing, Mr. Deaton has held senior leadership roles across a range of financial institutions, including President, CEO, CFO, Chief Credit Officer, and Chief Risk Officer. In a statement regarding the departure, Ronald A. Day, Chairman, President, and CEO of First Carolina Financial Services, stated that the Company is grateful for Mr. Deaton’s contributions. Mr. Day noted that Mr. Deaton led the Company through key milestones, including substantial expansion and growth, the acquisition of BM Technologies, and the recent initial public offering.
The Company indicated that Mr. Deaton is retiring to focus on his family and personal pursuits. The filing notes that Mr. Deaton is a seasoned banking executive with more than 40 years of broad experience with regional and community banks.
In addition to the leadership update, the filing reported 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.
