---
schema_version: "secwatch.filing_event.v1"
accession: "0001829576-24-000050"
form_type: "8-K"
ticker: "CARE"
cik: "0001829576"
company_name: "Carter Bankshares, Inc."
filed_at: "2024-07-25T23:59:59+00:00"
generated_at: "2026-05-31T16:21:59.506958+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Carter Bankshares Q2 EPS $0.21, down from Q1 $0.25 and YoY $0.24; NPL drag continues

## Summary
- Net income $4.8M ($0.21 diluted EPS) vs $5.8M ($0.25) Q1 2024 and $5.7M ($0.24) Q2 2023.
- Justice Entities lawsuit dismissed; NPL balance reduced to $294.1M from $301.9M at Q1 2024.
- Net interest income $28.1M, NIM (FTE) 2.56%, down 4bp QoQ; up 2bp YoY.
- Nonperforming loans/total loans 8.46% (8.76% Q1); allowance for credit losses 2.72%.
- Efficiency ratio worsened to 81.62% from 78.46% Q1; pre-tax pre-provision income $6.2M.

## SEC filing metadata
- accession: 0001829576-24-000050
- form_type: 8-K
- ticker: CARE
- cik: 0001829576
- company_name: Carter Bankshares, Inc.
- filed_at: 2024-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000050/0001829576-24-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000050/care-20240725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829576-24-000050
- JSON: https://secwatch.observer/filing/0001829576-24-000050.json
- Plain text: https://secwatch.observer/filing/0001829576-24-000050.txt

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