secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2025-01-23T23:59:59+00:00
Accession:  0001829576-25-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Carter Bankshares Q4 net income $8.3M, EPS $0.36; NPLs decline to $259.3M
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- Net income $8.3M ($0.36 diluted EPS) vs $5.6M in Q3 2024 and net loss $1.9M in Q4 2023.
- Nonperforming loans fell $28.4M to $259.3M (7.15% of loans); $28.9M curtailment from largest credit relationship.
- Net interest margin (FTE) 2.58%, up 9 bps YoY; efficiency ratio 83.6%.
- Announced acquisition of two branches in Winston-Salem and Mooresville, NC to expand footprint.
- Allowance for credit losses 2.09%; specific reserves on large nonperforming credit $30.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957625000003/0001829576-25-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957625000003/care-20250123.htm
  HTML page:      https://secwatch.observer/filing/0001829576-25-000003

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