secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001829576-24-000050
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000050/0001829576-24-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000050/care-20240725.htm
  HTML page:      https://secwatch.observer/filing/0001829576-24-000050

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