Fourthstone LLC has filed a Schedule 13G with the SEC, revealing that it owns 5.84% of the common stock of First Carolina Financial Services, Inc. This filing, dated November 13, 2026, indicates a significant investment by Fourthstone, a registered investment adviser based in Missouri. The disclosure highlights Fourthstone's growing influence in the banking sector, particularly in state commercial banks.

First Carolina Financial Services operates under the SIC code 6022, indicating its classification as a state commercial bank. The filing reveals that Fourthstone directly holds 1,815,206 shares of First Carolina Financial Services on behalf of its advisory clients. This strategic investment could signal a shift in how investment firms approach opportunities within the banking industry.

The filing states, "Fourthstone LLC acquired the Issuer's shares in the ordinary course of business as a registered investment adviser and not with the purpose nor with the effect of influencing the control of the Issuer." This suggests that Fourthstone's investment is aimed at capitalizing on the bank's growth potential rather than seeking to exert control over its operations.

Alongside Fourthstone LLC, other entities included in the filing are Fourthstone Master Opportunity Fund Ltd, Fourthstone GP LLC, Fourthstone QP Opportunity Fund LP, and Fourthstone Small-Cap Financials Fund LP. Notably, L. Phillip Stone, IV, serves as the Managing Member of Fourthstone LLC and Fourthstone GP, further solidifying the connection between these entities in managing the investment.

Fourthstone's stake in First Carolina Financial Services may influence the competitive landscape within the state commercial banking sector. Other investment firms may need to reassess their strategies in light of this new development, especially if Fourthstone's investment leads to favorable outcomes for the bank.

The filing does not specify what actions Fourthstone may take next regarding its investment in First Carolina Financial Services. However, the implications of this stake could lead to further developments in the banking industry as firms strategize around Fourthstone's growing influence.