Highest-materiality recent filing
Carter Bankshares lawsuit by Justice Parties dismissed with prejudice
On Aug 17, 2026, Carter Bankshares and Carter Bank & Trust announced voluntary dismissal with prejudice of lawsuit.
Net income $28.9M ($1.31 diluted EPS) vs $85.8M Q1 2026 and $8.5M Q2 2025; adjusted net income $11.6M.
Carter Bankshares completes $139.4M securities repositioning; expects $12.5M pre-tax loss in Q2 2026
Sold $139.4M of securities (weighted avg yield 2.28%) and bought $88.5M of AAA/AA-rated securities (5.27% yield).
Carter Bankshares completes sale of Bearing Insurance Group; expects $35.8M pre-tax gain in Q2 2026
Sold membership interest in Bearing Insurance Group, LLC to unaffiliated third party, effective May 1, 2026.
Carter Bankshares Q1 net income $85.8M from $80M gain on sale of Justice loans
Net income $85.8M, diluted EPS $3.88; vs $9.0M/$0.39 in Q1 2025.
Carter Bankshares reinstates quarterly dividend at $0.10/share, first in nearly 10 years
Quarterly cash dividend of $0.10 per share declared, payable May 25, 2026 to holders of record May 11, 2026.
Carter Bankshares sells $209.5M Justice-related nonperforming loans for $289.5M cash
Sold all loans tied to James C. Justice II entities for $289.48M cash; principal was $209.48M, all nonperforming.
Carter Bankshares Q4 net income $8.5M, EPS $0.38; NPLs improve to $244M
Q4 net income $8.5M ($0.38 EPS) vs $5.4M in Q3 and $8.3M in Q4 2024.
Carter Bank gains Fed approval to become state member bank, regulated by Richmond Fed
Carter Bank received approval from the Board of Governors of the Federal Reserve System to become a state member bank.
Carter Bankshares Q3 net income $5.4M ($0.24 EPS), down 36% from Q2; NPLs rise to $258.6M
Q3 2025 net income $5.4M ($0.24 diluted EPS) vs $8.5M ($0.37) Q2 2025; YoY flat with $5.6M ($0.24).
Carter Bankshares Q2 net income $8.5M ($0.37 EPS); NIM expands to 2.82%
Net income of $8.5M, down from $9.0M in Q1 2025 but up from $4.8M in Q2 2024; diluted EPS $0.37.
Carter Bank completes $55.9M deposit purchase of two First Reliance Bank branches in NC
Acquired $55.9M in deposits from branches in Mooresville and Winston-Salem, NC; no loans acquired.
CARE Q1 net income $9.0M, EPS $0.39; Justice NPLs $245.1M
Net income $9.0M ($0.39 diluted EPS), up from $8.3M ($0.36) Q4 2024 and $5.8M ($0.25) Q1 2024.
Carter Bankshares Q4 net income $8.3M, EPS $0.36; NPLs decline to $259.3M
Net income $8.3M ($0.36 diluted EPS) vs $5.6M in Q3 2024 and net loss $1.9M in Q4 2023.
Carter Bankshares Q3 net income $5.6M, up 55% YoY; deposits grow 5.2% QoQ
Net income $5.6M ($0.24 diluted EPS) vs $3.6M ($0.16) in Q3 2023, up 55.2%.
Carter Bankshares Q3 net income $5.6M ($0.24 EPS); NPLs decline, lawsuit dismissed
Q3 net income $5.6M ($0.24 diluted EPS), up from $4.8M ($0.21) in Q2 and $3.6M ($0.16) in year-ago quarter.
Carter Bankshares resolves GLAS Trust lawsuit with prejudice; Justice entities reaffirm loans
GLAS Trust lawsuit dismissed with prejudice on Aug 28, 2024; cannot be refiled.
Carter Bankshares Q2 EPS $0.21, down from Q1 $0.25 and YoY $0.24; NPL drag continues
Net income $4.8M ($0.21 diluted EPS) vs $5.8M ($0.25) Q1 2024 and $5.7M ($0.24) Q2 2023.
Federal lawsuit voluntarily dismissed with prejudice; WV lawsuit expected to be dismissed similarly.
Q1 net income $5.8M, EPS $0.25; NPL/loans 8.76% remains high
Net income $5.8M ($0.25 diluted EPS) vs Q4 net loss $1.9M (-$0.08); down 63.5% YoY.
Carter Bankshares Q1 net income $5.8M ($0.25 EPS); NPL drag persists
Net income $5.8M vs Q4 loss $1.9M, but down 63% from $15.9M in Q1 2023.
Carter Bankshares faces $226M lawsuit from GLAS over Bluestone loan repayments
GLAS Trust seeks $226M from Carter Bank for funds received as loan repayments from Bluestone Entities owned by Gov. Justice.
Carter Bankshares Q4 net loss $1.9M; NPL ratio 8.83% on $301.9M nonaccrual loan
Net loss $1.9M ($0.08 diluted EPS) vs $3.6M income ($0.16) in Q3 2023 and $15.6M ($0.65) in Q4 2022.
Carter Bankshares wins court ruling allowing collection of $302M from Justice entities
Circuit Court denied Justice Entities' motions to set aside confessions of judgment in 21 civil cases.
Lawsuit filed Nov 10, 2023 by WV Governor Jim Justice and related entities (Justice Parties) against Carter Bank & Trust in S.D. West Virginia.
Carter Bankshares Q3 net income drops 75% YoY to $3.6M; NPL ratio hits 9.04% on $302M nonaccrual
Diluted EPS $0.16 vs $0.59 in Q3 2022; pre-tax pre-provision income falls to $5.4M from $19.5M.
On March 18, 2025, director E. Warren Matthews notified the Board of Directors of Carter Bankshares, Inc. (the “Company”) that he will retire and not stand for re-election to the Board of Directors of the Company (the “Board”) at its 2025 Annual Meeting of Shareholders to be held on May 28, 2025 (the “Annual Meeting”).
On March 10, 2023, directors Robert W. Conner and Lanny A. Kyle, O.D. notified the Board of Directors of Carter Bankshares, Inc. (the “Company”) that they will retire and not stand for re-election to the Board of Directors of the Company (the “Board”) at its 2023 Annual Meeting of Shareholders to be held on May 24, 2023 (the “Annual Meeting”).
On March 10, 2023, directors Robert W. Conner and Lanny A. Kyle, O.D. notified the Board of Directors of Carter Bankshares, Inc. (the “Company”) that they will retire and not stand for re-election to the Board of Directors of the Company (the “Board”) at its 2023 Annual Meeting of Shareholders to be held on May 24, 2023 (the “Annual Meeting”).
On March 10, 2023, directors Robert W. Conner and Lanny A. Kyle, O.D. notified the Board of Directors of Carter Bankshares, Inc. (the “Company”) that they will retire and not stand for re-election to the Board of Directors of the Company (the “Board”) at its 2023 Annual Meeting of Shareholders to be held on May 24, 2023 (the “Annual Meeting”).
On March 10, 2023, directors Robert W. Conner and Lanny A. Kyle, O.D. notified the Board of Directors of Carter Bankshares, Inc. (the “Company”) that they will retire and not stand for re-election to the Board of Directors of the Company (the “Board”) at its 2023 Annual Meeting of Shareholders to be held on May 24, 2023 (the “Annual Meeting”).
On March 23, 2022, the Board of Directors (the “Board”) of Carter Bankshares, Inc. (the “Company”) unanimously appointed two new members to the Board, Jacob A. Lutz, III and Curtis E. Stephens, effective immediately on that date.
On March 23, 2022, the Board of Directors (the “Board”) of Carter Bankshares, Inc. (the “Company”) unanimously appointed two new members to the Board, Jacob A. Lutz, III and Curtis E. Stephens, effective immediately on that date.
Max materiality 0.85 · Median 0.60 · Most common event other_material