Welcome to our dedicated page for Carter Bankshares news (Ticker: CARE), a resource for investors and traders seeking the latest updates and insights on Carter Bankshares stock.
Carter Bankshares, Inc. (NASDAQ: CARE) is the parent company of Carter Bank, a state‑chartered community bank headquartered in Martinsville, Virginia with branches in Virginia and North Carolina. This news page aggregates press releases, market announcements and other public updates related to Carter Bankshares, Inc. and its banking subsidiary.
Visitors can review earnings announcements detailing quarterly and annual financial results, including net income, net interest income, net interest margin, loan and deposit growth, allowance for credit losses and efficiency ratios. These releases also provide context on asset quality, such as nonperforming loans and the impact of the bank’s largest credit relationship in the "Other" segment of the loan portfolio.
The feed includes strategic and operational news such as branch acquisitions, market entries and expansions. Recent examples include the purchase of deposits and a branch facility in Mooresville and Winston‑Salem, the opening of a loan production office in Gastonia, and an expansion into Greenville, South Carolina. These updates describe how Carter Bank is extending its footprint across Virginia and the Carolinas and adding experienced commercial bankers in key markets.
Regulatory and corporate developments are also covered, including Carter Bank’s approval to become a state member bank of the Federal Reserve System, its conversion to a financial holding company and the launch of stock repurchase programs. Leadership and organizational updates, such as promotions within the finance and accounting teams, appear in dedicated press releases.
By following this page, readers can monitor how Carter Bankshares, Inc. reports its performance, manages credit quality, executes branch transactions and communicates strategic priorities through official news and SEC‑related disclosures.
Carter Bankshares (NASDAQ:CARE) reported Q4 2025 net income of $8.5M ($0.38 diluted EPS) and full-year 2025 net income of $31.4M ($1.38 diluted EPS), up from $24.5M in 2024. Net interest income was $34.6M in Q4 and $130.8M for 2025. Total loans grew to $3.9B (+7.0% YoY). Nonperforming loans fell to $244.0M (6.29% of loans) with the Bank's largest credit (Justice Entities) at $214.0M. Curtailment payments totaled $38.0M in 2025. Net interest margin expanded to 2.92% in Q4. Management highlighted margin expansion, loan growth, and continued resolution efforts on the largest nonperforming relationship.
Carter Bank (Nasdaq: CARE) said its 2024 rebrand has earned multiple national awards across four industry programs after one year: the Brandies, MUSE Awards, Transform Awards, and Davey Awards.
The announcement notes eight distinctions, including Brandies Best Rebrand – Financial Services; MUSE Gold for Corporate Identity and Advertising Campaign; Transform Bronze for Best Visual Identity; and Davey Gold for Integrated Campaign. Carter Bank was also named by Forbes as one of the Best Banks in Virginia.
The bank attributes the recognition to its new visual identity and team efforts and directs readers to carterbank.com for more information.
Carter Bank (Nasdaq: CARE) announced expansion into Greenville, South Carolina on November 20, 2025, extending its footprint across Virginia and the Carolinas.
The move follows recent growth in Charlotte, Winston-Salem, Raleigh, and Gastonia. Carter Bank said it hired an initial local team to lead the market: Mike Sarvis, market executive with 35+ years of experience and Greenville native, and Roslyn Gilstrap, senior commercial banker and Greenville native. The bank is searching for its first branch location in Greenville and will offer commercial and consumer banking, lending, deposit, cash management, and wealth solutions to local businesses and consumers.
Carter Bankshares (Nasdaq: CARE) announced on November 13, 2025 that Carter Bank, its wholly owned banking subsidiary, has received approval to become a state member bank and will be regulated by the Board of Governors of the Federal Reserve System through the Federal Reserve Bank of Richmond.
The company noted it is already regulated by the Federal Reserve Bank of Richmond and will continue state oversight by the Bureau of Financial Institutions of the Virginia State Corporation Commission. The company also said it recently converted to a financial holding company, which management said provides greater flexibility to innovate and grow.
Carter Bankshares (NASDAQ:CARE) reported Q3 2025 net income of $5.4M or $0.24 diluted EPS, down from $8.5M ($0.37) in Q2 2025. Net interest income was $33.7M in Q3 2025 and pre-tax pre-provision income was $10.4M. For the nine months ended September 30, 2025, net income was $22.9M or $1.00 diluted EPS.
Key balance-sheet items: total portfolio loans rose to $3.8B (annualized loan growth 9.4%), net interest margin was 2.86% (up 6 bps QoQ), and the efficiency ratio improved to 73.43%. Credit remains concentrated: loans tied to entities associated with James C. Justice II carry an aggregate principal of $228.6M and the Bank reported total NPLs of $258.6M (6.74% of loans) at September 30, 2025.
Carter Bank (Nasdaq: CARE) has expanded its presence in North Carolina by opening a new Loan Production Office in Gastonia. This expansion follows recent openings in Winston-Salem, Raleigh, and Mooresville, demonstrating the bank's continued growth strategy in the region.
The bank has assembled an experienced local banking team led by Brad Wilson as Senior Vice President and Commercial Market Executive, Jayson Philbeck as Senior Vice President of Commercial Banking, and Christie Dellinger as Commercial Support Specialist. The team brings combined experience of over 68 years in banking, particularly in Gaston and Cleveland County markets.
The new office, located at 6640 Wilkinson Boulevard, Suite 100, Belmont, NC, will offer commercial banking solutions, including business banking, lending, and cash management services.
Carter Bank (NASDAQ: CARE) has announced key leadership promotions, strengthening its executive team. Andy Meece has been elevated to Senior Vice President, Director of Strategy and Finance, bringing nearly 20 years of experience at the bank. Additionally, Charlie Sword has been promoted to Senior Vice President, Controller, after serving as Director of Internal Audit since 2020.
The promotions come less than a year after Carter Bank's rebranding initiative, highlighting the company's commitment to growth and internal talent development. Both executives will play crucial roles in driving strategic initiatives and financial operations at the community bank.
Carter Bankshares (NASDAQ:CARE) reported Q2 2025 net income of $8.5 million ($0.37 EPS), compared to $9.0 million ($0.39 EPS) in Q1 2025 and $4.8 million ($0.21 EPS) in Q2 2024. Net interest income rose to $32.4 million, up 7.4% from Q1 2025.
Key developments include the completion of a Branch Purchase from First Reliance Bank, acquiring $55.9 million in deposits and two North Carolina branches. The company also initiated a $20 million stock repurchase program, with $9.1 million already utilized.
Portfolio loans increased 6.5% annualized to $3.7 billion, while deposits grew 2.0% annualized. The company continues to manage its largest nonperforming credit relationship with the Justice Entities, which decreased to $235.5 million from $301.9 million in June 2023 through curtailment payments.
[ "Net interest income increased 15.2% year-over-year to $32.4 million", "Portfolio loans grew 6.5% annualized to $3.7 billion", "Total deposits increased 8.8% year-over-year", "Net interest margin improved by 26 basis points year-over-year to 2.82%", "Successfully acquired two branches with $55.9 million in deposits", "NPLs decreased by $10.9 million during Q2 2025" ]Carter Bankshares (NASDAQ:CARE) reported Q1 2025 net income of $9.0 million, or $0.39 diluted EPS, compared to $8.3 million ($0.36 EPS) in Q4 2024 and $5.8 million ($0.25 EPS) in Q1 2024.
Key highlights include:
- Total portfolio loans increased $62.7 million (7.0% annualized) to $3.7 billion
- Total deposits grew $47.5 million (4.6% annualized) quarter-over-quarter
- Net interest margin improved to 2.70%, up 12 basis points from Q4 2024
- Nonperforming loans (NPLs) increased $2.1 million to $261.4 million
The company continues to be impacted by its largest credit relationship with Justice Entities ($245.1 million in loans) remaining on nonaccrual status, negatively affecting interest income by $6.8 million in Q1 2025. The bank received $6.9 million in curtailment payments during the quarter, reducing the total NPL balance from $301.9 million to $245.1 million year-over-year.
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