The Bank was originally founded in 2000, starting from the Rocky Mount location based on local investors. In 2004, the Bank was acquired by Lansing, Michigan-based Capital Bancorp (CBC), a bank holding company serving approximately 60 bank charters. Reidsville Community Bank was started with local investors petitioning for a community institution in 2008, and was licensed as a division of First Carolina State Bank within the CBC organizational structure.
In July 2012, Ron Day, President & Chief Executive Officer, along with a group of mostly Rocky Mount-based shareholders acquired First Carolina State Bank and Reidsville Community Bank located in Rocky Mount, Reidsville, and Greenville.
Over the next few months, the Bank rebranded to be First Carolina Bank.
In June 2015, a Loan Production Office was opened in Raleigh, NC and then expanded to full service in the same Raleigh location'.
In September 2017, a Loan Production Office was opened in Wilmington, NC.
In June 2019, a Loan Production Office was opened in Virginia Beach, VA.