Carter Bankshares Q3 net income $5.6M, up 55% YoY; deposits grow 5.2% QoQ

Carter Bankshares, Inc.

2024-Q3 EPS reported $0.70

Net income $5.6M ($0.24 diluted EPS) vs $3.6M ($0.16) in Q3 2023, up 55.2%.
Net interest income $28.8M, NIM (FTE) 2.59%; loans $3.6B, up 5.4% YoY.
Deposits $4.085B, up 14.8% YoY; borrowings reduced 82.5% YoY to $90M.
NPL ratio 8.00% (driven by largest relationship); ACL coverage 2.25%.
Strong liquidity: $1.5B available, 207.8% of uninsured deposits; CET1 10.83%.

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