secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2026-03-26T23:59:59+00:00
Accession:  0001829576-26-000021
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Carter Bankshares sells $209.5M Justice-related nonperforming loans for $289.5M cash
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- Sold all loans tied to James C. Justice II entities for $289.48M cash; principal was $209.48M, all nonperforming.
- Pro forma: nonperforming loans drop from 6.29% (Dec 2025) to 0.82% of total loans; allowance for credit losses falls from 1.84% to 1.46%.
- Transaction expected to increase tangible book value per share by ~$3.49; specific reserve of $18.04M reversed.
- Total assets rise from $4.85B to ~$4.95B; loans decline from $3.88B to ~$3.67B on a pro forma basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957626000021/0001829576-26-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957626000021/care-20260326.htm
  HTML page:      https://secwatch.observer/filing/0001829576-26-000021

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