secwatch.observer — SEC 8-K summary
======================================

Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001829576-22-000053
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957622000053/0001829576-22-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957622000053/care-20221027.htm
  HTML page:      https://secwatch.observer/filing/0001829576-22-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer