Carter Bankshares posts record Q3 net income of $14.4M; diluted EPS $0.59

Carter Bankshares, Inc.

2022-Q3 EPS reported $1.38

Net income of $14.4M ($0.59 diluted EPS) vs. $11.2M ($0.42) in Q3 2021 and $10.8M ($0.44) in Q2 2022.
Net interest margin (FTE) rose 48 bps QoQ to 3.75%; net interest income up 16.2% to $37.7M.
Portfolio loans grew 4.4% annualized to $3.0B; nonperforming loans fell 41.7% to $7.0M.
Provision for credit losses was negative $(0.1)M vs. $1.8M in Q2 2022; net charge-offs $3.7M.
Efficiency ratio improved to 57.1% from 61.3% in Q2 2022; ROA of 1.38%, ROE of 16.75%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Carter Bankshares, Inc. reported the three and nine months ended September 30, 2022 results: net income record net income of $14.4 million, or $0.59 diluted earnings per share ("EPS"), for the third quarter of 2022, EPS $0.59 diluted EPS.

Period: the three and nine months ended September 30, 2022
Net income: record net income of $14.4 million, or $0.59 diluted earnings per share ("EPS"), for the third quarter of 2022
EPS: $0.59 diluted EPS
Result: reported results

Exact text from the filing

On October 27, 2022, Carter Bankshares, Inc. announced by press release its earnings for the three and nine months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001829576-22-000053

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