---
schema_version: "secwatch.filing_event.v1"
accession: "0001829576-22-000053"
form_type: "8-K"
ticker: "CARE"
cik: "0001829576"
company_name: "Carter Bankshares, Inc."
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-23T00:11:00.882773+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001829576-22-000053
- form_type: 8-K
- ticker: CARE
- cik: 0001829576
- company_name: Carter Bankshares, Inc.
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829576/000182957622000053/0001829576-22-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829576/000182957622000053/care-20221027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829576-22-000053
- JSON: https://secwatch.observer/filing/0001829576-22-000053.json
- Plain text: https://secwatch.observer/filing/0001829576-22-000053.txt

## Key facts
- Earnings Releases
  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
  source text: On October 27, 2022, Carter Bankshares, Inc. announced by press release its earnings for the three and nine months ended September 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829576/000182957622000053/0001829576-22-000053-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.