{"schema_version":"secwatch.filing_event.v1","accession":"0001829576-23-000051","form_type":"8-K","ticker":"CARE","cik":"0001829576","company_name":"Carter Bankshares, Inc.","filed_at":"2023-10-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.822319+00:00","generated_at":"2026-06-09T08:47:35.436351+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Carter Bankshares Q3 net income drops 75% YoY to $3.6M; NPL ratio hits 9.04% on $302M nonaccrual","bullets":["Diluted EPS $0.16 vs $0.59 in Q3 2022; pre-tax pre-provision income falls to $5.4M from $19.5M.","Large lending relationship ($301.9M) remains on nonaccrual; represents 97.9% of total NPLs and 8.9% of loans.","Net interest margin narrows to 2.52% (-120 bps YoY) due to 194 bps rise in funding costs.","Total deposits decline $169.7M (-4.6%) YoY; CDs now 42.5% of deposits, up from 33.5%.","Loan growth of 9.6% annualized QoQ, but efficiency ratio worsens to 83.5% from 54.6% a year ago."],"urls":{"canonical":"https://secwatch.observer/filing/0001829576-23-000051","json":"https://secwatch.observer/filing/0001829576-23-000051.json","markdown":"https://secwatch.observer/filing/0001829576-23-000051.md","text":"https://secwatch.observer/filing/0001829576-23-000051.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1829576/000182957623000051/0001829576-23-000051-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1829576/000182957623000051/care-20231026.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T08:47:35.436351+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8f430482dd022b98514787b30540511262d7c91c","claim":"Carter Bankshares, Inc. reported nine months ended September 30, 2023 results: net income $25.3 million, EPS $1.07 diluted EPS.","evidence_excerpt":"For the nine months ended September 30, 2023, net income was $25.3 million, or $1.07 diluted EPS, compared to net income of $34.5 million, or $1.38 diluted EPS for the same period in 2022.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1829576/000182957623000051/0001829576-23-000051-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"nine months ended September 30, 2023"},{"label":"Net income","value":"$25.3 million"},{"label":"EPS","value":"$1.07 diluted EPS"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"a429ef1bdeb95147323cf555af7e1db47adbd443","claim":"Carter Bankshares, Inc. reported third quarter of 2023 results: revenue $27.4 million, net income $3.6 million, EPS $0.16 diluted earnings per share.","evidence_excerpt":"return on average equity (“ROE”) of 4.19% and annualized year-to-date ROA and ROE of 0.78% and 9.71%, respectively; • Net interest income, increased $0.7 million, or 2.6%, to $27.4 million compared to the second quarter of 2023 primarily due to a 38 basis point increase in the yield on earning assets, offset by a 46 basis point increase in funding costs and","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1829576/000182957623000051/0001829576-23-000051-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter of 2023"},{"label":"Revenue","value":"$27.4 million"},{"label":"Net income","value":"$3.6 million"},{"label":"EPS","value":"$0.16 diluted earnings per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}