secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2025-04-24T23:59:59+00:00
Accession:  0001829576-25-000025
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CARE Q1 net income $9.0M, EPS $0.39; Justice NPLs $245.1M
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- Net income $9.0M ($0.39 diluted EPS), up from $8.3M ($0.36) Q4 2024 and $5.8M ($0.25) Q1 2024.
- Net interest margin expanded 12 bps to 2.70%; total deposits grew $47.5M (4.6% annualized).
- Justice Entities NPL principal $245.1M; received $6.9M curtailment in Q1; NPL ratio 7.09%.
- Recovery provision for credit losses $(2.0)M vs $(5.1)M recovery in Q4; reserve rate on Other segment declined.
- Total assets $4.7B; all capital ratios well above regulatory minimums; FHLB borrowings cut to $55M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957625000025/0001829576-25-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957625000025/care-20250424.htm
  HTML page:      https://secwatch.observer/filing/0001829576-25-000025

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