Q1 net income $5.8M, EPS $0.25; NPL/loans 8.76% remains high

Carter Bankshares, Inc.

2024-Q1 EPS reported $0.25

Net income $5.8M ($0.25 diluted EPS) vs Q4 net loss $1.9M (-$0.08); down 63.5% YoY.
Net interest margin (FTE) 2.60%, up 11bps QoQ but down 138bps YoY; efficiency ratio 79.01%.
Total deposits $3.83B (+2.9% QoQ, +8.3% YoY); total liquidity $1.3B covers 199% of uninsured deposits.
NPLs/portfolio loans 8.76% (vs 8.83% Q4), ACL 2.75%; net charge-offs annualized 0.06%.
Book value $15.60, adjusted book value $20.52; CET1 10.89%, all capital ratios above well-capitalized.

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