secwatch.observer — SEC 8-K summary
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Issuer:     Carter Bankshares, Inc. (CARE)
CIK:        0001829576
Form:       8-K
Filed at:   2026-07-23T12:22:37+00:00
Accession:  0001829576-26-000070
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Carter Bankshares Q2 net income $28.9M ($1.31 EPS); completes insurance sale, securities repositioning
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- Net income $28.9M ($1.31 diluted EPS) vs $85.8M Q1 2026 and $8.5M Q2 2025; adjusted net income $11.6M.
- Completed sale of Bearing Insurance Group, recognizing $35.9M pre-tax gain, accretive $1.30 to EPS, increased TBV by $1.28.
- Repositioned securities portfolio: sold $139.4M (2.28% yield), purchased $88.5M (5.27% yield), resulting in $12.5M pre-tax loss.
- Net interest margin expanded to 3.38% from 3.07% Q1 2026 and 2.80% Q2 2025; net interest income up 11.2% linked quarter.
- Nonperforming loans increased to $37.6M (1.01% of loans) from $24.0M Q1 2026, driven by $13.4M commercial relationship.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829576/000182957626000070/0001829576-26-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829576/000182957626000070/care-20260723.htm
  HTML page:      https://secwatch.observer/filing/0001829576-26-000070

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