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Banking & Finance

First Carolina Bank Scores Well On Performance

By Jenny Callison, posted May 6, 2022
First Carolina Bank, which operates one full-service office in Wilmington, has landed on the list of the 100 best-performing community banks in the country. The bank, which ranked 31st, is the only North Carolina-based institution on the list.
 
S&P Global Market Intelligence, which researched and compiled the data, defines community banks as those with less than $3 billion in assets.
 
To compile its ranking, S&P Global Market Intelligence calculated scores for each company, based on six metrics: pretax return on tangible common equity, efficiency ratio, operating revenue growth, net charge-offs to average loans and leases (net of Paycheck Protection Program loans ratio), nonperforming loans 90 days or more past due as a percentage of total assets (net of PPP loans), and leverage ratio.
 
The S&P Global Market Intelligence data was as of March 9.
 
Rocky Mount-based First Carolina Bank has assets of more than $1.5 billion.
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