secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0001829576-24-000067
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000067/0001829576-24-000067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957624000067/care-20241101.htm
  HTML page:      https://secwatch.observer/filing/0001829576-24-000067

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