Carter Bankshares resolves GLAS Trust lawsuit with prejudice; Justice entities reaffirm loans

Carter Bankshares, Inc.

GLAS Trust lawsuit dismissed with prejudice on Aug 28, 2024; cannot be refiled.
GLAS Trust and affiliates executed release waiving all claims against Carter Bank.
James C. Justice II entities reaffirmed legality and binding nature of loan documents.
Financial impact of settlement to be disclosed in Q3 2024 earnings and 10-Q.

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