CARE
Carter Bankshares, Inc.20.12
+0.05+0.25%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
456.12MP/E (TTM)
14.79Basic EPS (TTM)
1.36Dividend Yield
0%Recent Filings
8-K
Carter Bank joins Fed membership
Carter Bankshares' subsidiary, Carter Bank, secured Federal Reserve approval on November 13, 2025, to join as a state member bank under the Richmond Fed, aligning its regulation with the parent company's structure. This move streamlines oversight and boosts operational efficiency, building on the recent financial holding company conversion for expanded growth flexibility. Yet risks could alter projected benefits.
10-Q
Q3 FY2025 results
Carter Bankshares posted steady Q3 results, with net interest income climbing 17% year-over-year to $33.7 million, fueled by loan growth and lower funding costs amid Fed rate cuts, while net income held at $5.4 million or $0.24 per diluted share. Total assets hit $4.8 billion, driven by a 7.8% annualized rise in portfolio loans to $3.8 billion, though nonperforming loans lingered at 6.74% of the total, largely tied to one large hospitality-agriculture relationship now at $228.6 million after $23.4 million in curtailments. Deposits edged up 1.4% to $4.2 billion, bolstered by a May branch acquisition adding $55.9 million, with FHLB borrowings at $175.5 million supporting liquidity; free cash flow wasn't disclosed in the 10-Q. The bank repurchased $4.9 million in shares under its program. Yet competition in regional banking could squeeze margins further.
8-K
Q3 earnings dip on nonaccrual drag
Carter Bankshares reported Q3 2025 net income of $5.4 million, down from $8.5 million in Q2 amid ongoing drag from a $228.6 million nonaccrual loan cluster tied to Justice Entities, which slashed interest income by $6.5 million. Yet loans surged 9.4% annualized to $3.8 billion, net interest income climbed 4.2% to $33.7 million, and margin edged up to 2.86%. Nonperforming loans hit 6.74% of portfolio. Resolution drags on metrics, but core growth persists.
8-K
CEO announces surgery
Carter Bankshares CEO Litz H. Van Dyke disclosed on August 11, 2025, that he will undergo abdominal surgery later that week to remove a growth, requiring a couple of weeks of recuperation. He plans to stay fully engaged in bank operations with support from the executive team, ensuring no disruptions. Faith guides him through this. The board and team stand ready.
10-Q
Q2 FY2025 results
Carter Bankshares posted solid Q2 FY2025 results, with net interest income up 15.2% year-over-year to $32.4M, fueled by loan growth and a 25 basis point expansion in net interest margin to 2.80%. Earnings climbed to $8.5M or $0.37 diluted EPS, a 77% y/y jump, while a $2.3M credit loss recovery—versus a $0.5M provision last year—bolstered profitability amid shrinking reserves on the large nonaccrual relationship. Deposits rose 1.7% q/q to $4.2B, including $55.9M from the May 2025 North Carolina branch acquisition that added $1.2M goodwill, and FHLB borrowings hit $113.5M for liquidity. Free cash flow wasn't disclosed in the 10-Q. Yet nonperforming loans linger at 6.7% of the portfolio, tied to that single troubled credit.
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