Lenders
First Carolina Bank
First Carolina Bank is a Rocky Mount, North Carolina bank whose commercial real estate group builds relationships with professional developers and investors across its four-state footprint of North Carolina, South Carolina, Georgia and Virginia.
The group makes construction loans for value-add projects and term loans for acquisition or refinance, on multifamily, industrial, medical office, storage and retail property. Its stated client profile is a borrower vertically integrated across project development, ownership, management and asset disposition, and active with both banks and the capital markets. A centralized platform handles transaction underwriting, fulfillment, account servicing, construction draw administration, portfolio management and advisory guidance.
A group of primarily Rocky Mount-area and North Carolina investors acquired the bank in 2012. It opened a Raleigh loan production office in 2015, added Wilmington in 2017, opened a Virginia Beach office and the First Carolina Wealth trust division in 2019, opened a Cary branch in 2020, Columbia, South Carolina and Atlanta in 2022, and Greenville, South Carolina in 2023. Its acquisition of BM Technologies, Inc. completed in the first quarter of 2025. Branches are in Rocky Mount, Raleigh, Cary, Wilmington and Reidsville, North Carolina; Columbia and Greenville, South Carolina; Atlanta, Georgia; and Virginia Beach, Virginia.
Loan minimums, rate structures and recourse terms are not published. Business banking around the lending relationship includes treasury management, remote deposit capture, lockbox and merchant services through a partnership with Atlantic Merchant, plus specialized accounts for attorneys and IOLTAs. The bank is an Equal Housing Lender and a member of the FDIC.
Best for
Developers and investors in North Carolina, South Carolina, Georgia or Virginia seeking construction or term debt on multifamily, industrial, medical office, storage or retail property, especially vertically integrated sponsors. Not a fit outside that four-state footprint.
What they do
- Construction loans for value-add projects
- Term loans for acquisition or refinance
- Multifamily lending
- Industrial and storage property lending
- Medical office and retail lending
- Construction draw administration
- Treasury management
- Remote deposit capture and lockbox
- Merchant services
- Attorney and IOLTA accounts
Details
| Attribute | Value |
|---|---|
| Other offices | Raleigh, NC, Cary, NC, Wilmington, NC, Reidsville, NC, Columbia, SC, Greenville, SC, Atlanta, GA, Virginia Beach, VA |
| Memberships | Member FDIC |
| Lender type | Bank, Portfolio |
What stands out
- Commercial real estate lending covers multifamily, industrial, medical office, storage and retail, in construction and term structures.
- Branches in Rocky Mount, Raleigh, Cary, Wilmington and Reidsville, NC; Columbia and Greenville, SC; Atlanta, GA; and Virginia Beach, VA.
- Underwriting, fulfillment, servicing, draw administration and portfolio management run on one centralized platform.
- Acquired by primarily Rocky Mount-area and North Carolina investors in 2012, and completed its acquisition of BM Technologies, Inc. in the first quarter of 2025.