---
schema_version: "secwatch.filing_event.v1"
accession: "0001829576-24-000035"
form_type: "8-K"
ticker: "CARE"
cik: "0001829576"
company_name: "Carter Bankshares, Inc."
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:18:16.438447+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001829576-24-000035
- form_type: 8-K
- ticker: CARE
- cik: 0001829576
- company_name: Carter Bankshares, Inc.
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000035/0001829576-24-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000035/care-20240503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829576-24-000035
- JSON: https://secwatch.observer/filing/0001829576-24-000035.json
- Plain text: https://secwatch.observer/filing/0001829576-24-000035.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.