---
schema_version: "secwatch.filing_event.v1"
accession: "0001829576-24-000062"
form_type: "8-K"
ticker: "CARE"
cik: "0001829576"
company_name: "Carter Bankshares, Inc."
filed_at: "2024-10-24T23:59:59+00:00"
generated_at: "2026-05-30T10:36:59.803173+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Carter Bankshares Q3 net income $5.6M ($0.24 EPS); NPLs decline, lawsuit dismissed

## Summary
- Q3 net income $5.6M ($0.24 diluted EPS), up from $4.8M ($0.21) in Q2 and $3.6M ($0.16) in year-ago quarter.
- GLAS Trust lawsuit voluntarily dismissed with prejudice; $15M charge-off taken related to settlement payment and Justice Entities promissory note.
- Nonperforming loans fell $12.5M to $287.7M (8.00% of loans); largest relationship received $13.2M curtailment payments in Q3.
- Specific reserves on largest nonperforming relationship reduced to $36.9M from $52.9M at June 30, 2024, reflecting updated cash flow analysis.
- Net interest margin improved to 2.59% (FTE), up 3 bps QoQ, but still pressured by $280.9M nonaccrual relationship; deposits grew $203.8M QoQ.

## SEC filing metadata
- accession: 0001829576-24-000062
- form_type: 8-K
- ticker: CARE
- cik: 0001829576
- company_name: Carter Bankshares, Inc.
- filed_at: 2024-10-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000062/0001829576-24-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829576/000182957624000062/care-20241024.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829576-24-000062
- JSON: https://secwatch.observer/filing/0001829576-24-000062.json
- Plain text: https://secwatch.observer/filing/0001829576-24-000062.txt

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