Quarterly Banking Profile

The FDIC has released the results of its latest Quarterly Banking Profile. In the first quarter of 2026, institutions reported a return on assets ratio of 1.26 percent, net income among community banks increased 3.9% from the prior quarter, and industry net interest margin declined 8 basis points from the prior quarter to 3.31 percent.

BSA Standards for Stablecoin Issuers

The FDIC has proposed a new rule to establish BSA and sanctions compliance standards for stablecoin issuers regulated by the agency. Issuers would be required to comply with applicable AML/CFT and economic sanctions programs, and reporting requirements, including requirements established by FinCEN and OFAC. 

NCBA Visits with Rep. Virginia Foxx at LifeStore Bank in Boone

NCBA President & CEO Peter Gwaltney joined U.S. Rep. Virginia Foxx (NC-05) this week for a visit hosted by Robert Washburn and Hal Hood at LifeStore Bank in Boone. Rep. Foxx, the longest-serving member of North Carolina’s congressional delegation, has represented the state in Congress for 21 years and currently chairs the House Rules Committee.

L-to-R: Peter Gwaltney, NCBA; Rep. Virginia Foxx; Hal Hood and Robert Washburn, LifeStore Bank

The visit included a productive discussion on issues affecting North Carolina communities and the banking industry, including housing affordability, local economic conditions and pending legislation of interest to banks.

BankWork$ Students Gain Real-World Banking Experience

The first North Carolina BankWork$ cohort continues to build momentum as students learn about banking careers through classroom instruction, industry speakers and hands-on exposure to financial institutions.

Recently, First Bank hosted the students for lunch and a tour, giving them a behind-the-scenes look at both customer-facing operations and back-office functions. Students have also heard from professionals at First Citizens Bank, Pinnacle Financial Partners, North State Bank and KS Bank.

In class, the cohort has covered workplace professionalism, banking regulations, customer transaction processing and bank products. Students have also begun a resume workshop in partnership with NCWorks to help prepare them for career opportunities in financial services.

BankWork$ is designed to create pathways into banking careers by equipping participants with practical knowledge, professional skills and direct connections to employers. As the program continues, students are gaining both the confidence and the industry exposure needed to take their next steps toward meaningful careers in banking.

NCBA Foundation Congratulates 2026 Scholarship Recipients

The NCBA Foundation is proud to congratulate the recipients of the 2026 NCBA Foundation Scholarships: Mary Elizabeth Martin and Amelia Bullard.

Since 1984, the NCBA Foundation Scholarship Program has supported the pursuit of higher education by awarding annual stipends to children of employees at participating financial institutions.

Mary Elizabeth Martin

Mary Elizabeth Martin, daughter of Matthew Martin with First Citizens, is graduating from St. David’s School in Raleigh and plans to attend Wofford College. A strong student leader, athlete and community volunteer, Mary Elizabeth has been active in student government, peer mentorship, varsity athletics, music and service throughout her high school career.

Amelia Bullard

Amelia Bullard, daughter of Scott Bullard with Piedmont Federal Savings, graduated from Reagan High School in Winston-Salem and plans to attend UNC-Chapel Hill to study exercise science on a pre-dental track. Amelia has demonstrated leadership through school service organizations, civic engagement, dance and youth mentorship.

We look forward to great things from these students as they begin their college journeys!

Live Oak Bank Grant Fuels Workforce Mobility Through The Forward Fund

Live Oak Bank announced a $1 million grant to The Forward Fund, North Carolina's first pay-it-forward fund dedicated to financing career training and upskilling for working adults.

The grant launched in 2025 and will be paid over five years.

The Forward Fund offers zero-percent interest financing for training, living expenses, and support services in high-demand fields, including commercial driver’s license (CDL), basic law enforcement training, registered nurse refresher, and electrical lineworker programs.

When graduates repay their loans after securing living-wage jobs, those funds are recycled back into the fund to support the next generation of students, creating a self-sustaining talent pipeline that reduces reliance on one-time grants.

Feedback on Resolution Plans

The FDIC and Federal Reserve have published their feedback letters for the resolution plans, or living wills, submitted by the largest banks. The agencies determined that derivatives-related weakness identified in 2023 plans have been satisfactorily addressed.

Comptroller of the Currency Jonathan Gould, who serves as an FDIC board member, abstained from voting, saying he believes there are problems with the current resolution planning process. 

Congress in Recess

The House and Senate have been in recess this week. The clock is ticking on remaining legislative days as Congress will be in recess or in district work weeks for approximately 16 out of the remaining 31 weeks of the year.

ABA Fraudcast: Cyber and Fraud with Paul Benda

On the latest episode of the ABA Banking Journal Podcast — a crossover episode with the ABA Fraudcast — ABA’s Rob Nichols and Paul Benda provide several updates on ABA’s work to reduce the incidence and cost of fraud for bank customers.

Eastern NC Bank Watch to Host Fraud Prevention Meeting June 25 in Greenville

Financial institutions, investigators and prosecutors across Eastern North Carolina are invited to attend the next Eastern NC Bank Watch meeting on Thursday, June 25, 2026, at Southern Bank and Trust in Greenville.

Organizing this meeting was a collaborative effort between Southern Bank and Trust, First Citizens Bank, the North Carolina State Bar, retired IRS Agent Kevin Anderson, and the NCSBI’s Financial Crimes Investigation Unit.

The meeting will focus on fraud prevention, information sharing and collaboration between law enforcement and financial institutions. The program will include a presentation on elder exploitation, followed by time for case sharing and discussion among attendees. Networking with coffee and breakfast refreshments will begin at 9:30 a.m., followed by the meeting from 10:00 a.m. to noon.

The meeting will be held at Southern Bank and Trust, located at 2275 Stantonsburg Road in Greenville. Please RSVP to NCSBI Special Agent Jenn Ryan at jryan@ncsbi.gov by June 19, 2026.

Need Credits? Earn CRCM, CPE, SHRM and More!

Looking to skill up? North Carolina Bankers Association is making it easier than ever to invest in your professional growth. Sign up for one of the upcoming webinars from our partnered providers:

The Stablecoin Market Landscape

A new report from S&P Global provides an analysis of key trends, market dynamics and strategic developments in the stablecoin ecosystem. The analysis draws on multiple research inputs, including more than two dozen analyst briefings with stablecoin issuers, infrastructure providers, financial institutions and other market participants.

[Download Report]

The report incorporates proprietary datasets from S&P Global Market Intelligence, Visible Alpha, a part of S&P Global Market Intelligence, and 451 Research’s Voice of the Connected User Landscape, alongside broader market analysis and industry disclosures.

First Carolina Financial Services Files for Initial Public Offering

First Carolina Financial Services, the parent company of First Carolina Bank, has filed for a U.S. initial public offering. The company plans to trade under the symbol FCBM. The bank has total assets of $3.4 billion. 

Lumbee Guaranty Bank Declares Semiannual Dividend

Pembroke-based Lumbee Guaranty Bank declared a semiannual cash dividend of $0.23 per share on common stock, payable June 24 to shareholders of record as of June 11. The bank also declared a $0.26 per share dividend on Class A common stock with the same record and payment dates.

Peoples Bancorp Announces Cash Dividend

Peoples Bancorp of North Carolina, Inc., headquartered in Newton, declared a regular second-quarter cash dividend of $0.21 per share. The dividend will be paid June 15 to shareholders of record as of June 3. Peoples Bank operates 16 banking offices entirely in North Carolina.

"Do what you can, 
with what you have, 
where you are."

- Theodore Roosevelt