Carter Bankshares posts record Q4 net income $15.6M, EPS $0.65

Carter Bankshares, Inc.

2022-FY EPS reported $2.03 revenue$19,106,000

Net income $15.6M ($0.65 diluted EPS) vs $5.6M ($0.21) in Q4 2021; full year $50.1M ($2.03).
Net interest income $41.5M, up 48% YoY; NIM (FTE) expanded 125 bps to 4.07%.
Total portfolio loans grew $117.6M (15.4% annualized) to $3.1B; deposits decreased $95.6M.
Nonperforming loans declined to 0.21% of total loans; net charge-offs 0.05% annualized.
Efficiency ratio improved to 59.5% for Q4; Tier 1 capital ratio 12.61%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Carter Bankshares, Inc. reported financial results for the three and twelve months ended December 31, 2022.

Period: the three and twelve months ended December 31, 2022
Result: reported results

Exact text from the filing

On January 26, 2023, Carter Bankshares, Inc. announced by press release its earnings for the three and twelve months ended December 31, 2022.

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Source: SEC EDGAR

accession 0001829576-23-000003

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