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

Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0001829576-23-000058
Event type: litigation
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Carter Bankshares denies allegations in lawsuit filed by WV Governor Justice, says it is fully secured
--------------------------------------------------------------------------------

- Lawsuit filed Nov 10, 2023 by WV Governor Jim Justice and related entities (Justice Parties) against Carter Bank & Trust in S.D. West Virginia.
- Carter Bank states it is fully secured on all loans, with collateral including The Greenbrier Resort and personal guarantees from Justice family.
- Justice Parties executed release and reaffirmation agreements as recently as February 2023, which the bank intends to enforce.
- Bank denies allegations as false and misleading and vows to vigorously defend the lawsuit and pursue collection actions.
- Carter Bank also evaluating potential claims by other creditors of Justice Parties related to historical transactions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957623000058/0001829576-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957623000058/care-20231114.htm
  HTML page:      https://secwatch.observer/filing/0001829576-23-000058

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