secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001829576-24-000035
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000035/0001829576-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000035/care-20240503.htm
  HTML page:      https://secwatch.observer/filing/0001829576-24-000035

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