Carter Bankshares, Inc. reports news as the financial holding company for Carter Bank, a community bank offering deposit accounts, commercial and consumer loans, mortgage lending, and home equity lines of credit. Updates commonly cover earnings, net interest income, portfolio loan trends, credit quality, and nonperforming loan levels.
Company announcements also include product launches such as youth savings and checking accounts, market expansion across Virginia and the Carolinas, cash dividends, leadership and talent matters, regulatory status, and completed asset transactions that affect the bank’s balance sheet and loan portfolio.
Carter Bankshares (NASDAQ:CARE) declared a quarterly cash dividend of $0.10 per share, payable on November 23, 2026. Shareholders of record as of November 9, 2026 are eligible. The board approved the dividend on October 28, 2026. The annualized dividend yield is 1.32%, based on the October 28 closing stock price of $30.22.
Carter Bankshares (NASDAQ:CARE) reported third-quarter 2026 net income of $7.8 million, improving year over year but declining from the previous quarter. Diluted earnings were $0.35 per share, versus $1.31 in the second quarter and $0.24 a year earlier. Net interest income reached $41.2 million, and net interest margin rose to 3.51% from 3.38% sequentially and 2.86% a year earlier.
Loans increased $36.0 million sequentially but fell 1.7% year over year. Nonperforming loans declined to $27.9 million; the quarterly decrease primarily reflected charge-offs. Net charge-offs totaled $12.1 million, and the credit-loss provision was $10.5 million. Nine-month net income reached $122.4 million versus $22.9 million a year earlier, with first-half transactions generating approximately $100.9 million in nonrecurring pre-tax gains. A new dividend reinvestment and stock purchase plan offers up to 1.0 million shares.
Carter Bank (CARE) published CEO Litz Van Dyke's reflections on a decade with the bank on September 24, 2026. Founder Worth H. Carter, Jr. selected Van Dyke in 2016, and Van Dyke became CEO after Carter's death in April 2017. During his tenure, the bank expanded into metropolitan markets, adopted new customer-facing technology and rebranded.
Van Dyke described the pandemic as the bank's greatest challenge during that period. Carter Bank is a $4.8 billion state-chartered community bank.
Carter Bank (CARE) has appointed veteran commercial banker Kevin Lockhart to lead its commercial banking efforts in Raleigh, North Carolina.
Lockhart has more than 30 years of experience and previously served 8 years as a Regional Executive for the Roanoke and New River Valley regions in Virginia. The bank highlights his existing Raleigh business relationships, familiarity with the area, and support from an established commercial banking office and team in the Triangle as foundations to deepen relationships and pursue new regional opportunities. Long-time Raleigh banker Greg Hamlyn will continue as the bank’s Commercial Real Estate lending expert in the market.
Carter Bankshares (NASDAQ:CARE) has established a Dividend Reinvestment and Stock Purchase Plan offering up to 1,000,000 shares of common stock to existing shareholders. The Plan lets participants buy additional shares via dividend reinvestment and optional cash payments, starting with dividends declared and paid after August 24, 2026.
Carter Bankshares (NASDAQ:CARE) declared a quarterly cash dividend of $0.10 per share, approved by its board on July 22, 2026. Based on the July 22, 2026 closing price of $32.92, the annualized dividend yield is 1.22%. The dividend will be paid on August 24, 2026 to shareholders of record as of August 10, 2026. Carter Bankshares, headquartered in Martinsville, Virginia, reports $4.8 billion in assets and operates 63 branches in Virginia and North Carolina through its subsidiary Carter Bank as of June 30, 2026.
Carter Bankshares (NASDAQ: CARE) reported second quarter 2026 net income of $28.9 million, or $1.31 diluted EPS, down from $85.8 million ($3.88 EPS) in Q1 2026 and up from $8.5 million ($0.37 EPS) a year earlier. Adjusted net income was $11.6 million versus $8.6 million in Q1 2026 and $9.3 million in Q2 2025. Net interest income rose to $40.0 million from $35.9 million in Q1 and $32.4 million in Q2 2025, with net interest margin improving to 3.38%.
The Company completed the sale of its membership interest in Bearing Insurance Group, recognizing a $35.9 million pre-tax gain, adding $1.30 to EPS and $1.28 to tangible book value per share. Together with a prior large loan sale, total nonrecurring gains reached approximately $100.9 million in the first half of 2026, partially offset by a $12.5 million loss from a securities portfolio repositioning. Nonperforming loans were $37.6 million, or 1.01% of total portfolio loans, versus 0.64% in Q1 2026 and 6.69% in Q2 2025.
Carter Bank (Nasdaq: CARE), a Martinsville-based community bank with more than 50 locations across Virginia and branches in North and South Carolina, was named the Best Bank in Virginia in Forbes’ 2026 America’s Best-In-State Banks ranking, based on a survey of over 26,000 U.S. banking customers.
Carter Bank (Nasdaq: CARE) opened a new Loan Production Office in Greenville, its first physical location in South Carolina. The office, in Suite 1602 of the Daniel Building, expands the bank's commercial banking presence in the Upstate region.
The Greenville team, led by Market Executive Mike Sarvis, will offer relationship-based commercial banking solutions with local decision-making. Carter Bank views both Carolinas as attractive growth regions and indicates future plans for a full-service branch in Greenville.
Carter Bank (Nasdaq: CARE) launched Carter Youth Savings and Carter Youth Checking on May 6, 2026 for ages 6–18. Both accounts have no minimum balance, monthly maintenance fees, or transaction fees. Opening deposits: $10 (savings) and $25 (checking). Savings APY is 0.50%; checking is non‑interest‑bearing. Accounts convert at age 18 to Lifetime Free Checking and Carter Savings. Accounts must be opened in branch. The program includes financial education resources for families.