secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001829576-23-000003
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 Q4 net income $15.6M, EPS $0.65
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957623000003/0001829576-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957623000003/care-20230126.htm
  HTML page:      https://secwatch.observer/filing/0001829576-23-000003

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