Highest-materiality recent filing
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.
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”).
Max materiality 0.85 · Median 0.60 · Most common event other_material