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. 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 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.
Carter Bankshares (NASDAQ:CARE) said its board approved a $0.10 per share quarterly cash dividend on April 22, 2026. Based on the April 21, 2026 close of $24.44, the company reported an annualized dividend yield of 1.64%. The dividend is payable May 25, 2026 to shareholders of record on May 11, 2026. Management described this as the first quarterly cash dividend in nearly 10 years and tied the reinstatement to improved financial metrics and operating performance in Q1 2026.
Carter Bankshares (NASDAQ:CARE) reported Q1 2026 net income of $85.8 million, or $3.88 diluted EPS, driven by a completed loan sale that produced $289.5 million in cash and an $80.0 million net gain. Core net interest income rose to $35.9 million and net interest margin widened to 3.07%.
Nonperforming loans fell to $24.0 million, allowance for credit losses to loans declined to 1.41%, and capital ratios strengthened (Tier 1 13.52%).
Carter Bank (Nasdaq:CARE) appointed Kimberly Dempsey Schaufenbuel as Executive Vice President and Chief Human Resources Officer, effective Feb. 2, 2026. Schaufenbuel will lead Human Resources and Training, bringing more than 20 years of HR, talent management, and organizational change experience.
She joins from Cherry Bekaert as a former Chief Human Resource Officer and will focus on leadership development, career pathing, integrated associate experience, and strengthening culture to support Carter Bank's long-term success.