Carter Bankshares Stock Price, News & Analysis

Carter Bankshares, Inc. (NASDAQ: CARE) is a bank holding company for Carter Bank, a state‑chartered community bank headquartered in Martinsville, Virginia. According to company disclosures and regulatory filings, the business is focused on commercial banking and operates in the finance and insurance sector. Carter Bank conducts substantially all operations for Carter Bankshares, Inc., and its common stock is listed on the NASDAQ Global Select Market under the symbol CARE.

Carter Bank describes itself as a community bank that offers a full range of deposit and loan products for individuals and businesses. As outlined in public descriptions, the bank earns revenue from interest on loans and securities and from fees on financial services. Its deposit offerings include checking accounts, savings accounts, retirement accounts, money market accounts and certificates of deposit. On the lending side, Carter Bank provides commercial and consumer loans, originates and holds fixed and variable‑rate mortgage loans, and offers home equity lines of credit.

In multiple press releases, Carter Bank is characterized as a state‑chartered community bank with branches in Virginia and North Carolina. The bank traces its history back to 1974, when it began serving customers with the goal of creating opportunities for people and businesses to prosper. Over time, it has expanded its branch network across its core markets, while maintaining a focus on relationship‑based banking.

Geographic footprint and market focus

Public communications from Carter Bank highlight a branch network across Virginia and North Carolina, with locations in markets such as Greensboro, Reidsville, Eden, Mt. Airy, Charlotte, Mooresville, Raleigh, Winston‑Salem, Gastonia and Greenville. The bank has used both de novo expansion and branch purchases to deepen its presence in North Carolina, particularly in the Charlotte region and the Triad. A branch purchase agreement with First Reliance Bank, for example, added deposits and a branch facility in Winston‑Salem and expanded operations in Mooresville.

Recent announcements also describe the opening of a loan production office in Gastonia, North Carolina, and an expansion into Greenville, South Carolina, with an initial team of experienced local bankers. These moves are presented by the company as part of a strategy to support small and mid‑sized businesses and to strengthen its footprint along key corridors in the Carolinas.

Business model and services

Based on company descriptions and investor communications, Carter Bankshares, Inc. operates a traditional community banking model. The bank accepts deposits from consumers and businesses and uses those funds, along with other funding sources, to make loans and invest in securities. The bank’s loan portfolio includes commercial real estate, commercial and industrial lending, residential mortgages and consumer loans. It also offers home equity lines of credit to its customers.

In addition to interest income from loans and securities, Carter Bank reports noninterest income from activities such as service charges, commissions, fees and insurance commissions. The company also holds and manages bank owned life insurance (BOLI), which has generated both income and related expenses, as described in its financial result press releases. Management commentary in earnings releases emphasizes core deposit acquisition, diversified loan growth and noninterest income expansion as important elements of its operating focus.

Regulatory framework and corporate structure

Carter Bankshares, Inc. is incorporated in Virginia and is regulated as a bank holding company. Its common stock is registered under Section 12(b) of the Securities Exchange Act of 1934 and trades on the NASDAQ Global Select Market. Carter Bank, the wholly‑owned banking subsidiary, is a state member bank of the Federal Reserve System following approval by the Board of Governors of the Federal Reserve System through the Federal Reserve Bank of Richmond. Public filings note that both the holding company and the bank are also regulated by the Bureau of Financial Institutions of the Virginia State Corporation Commission.

The company has also disclosed that it converted to a financial holding company, which it states provides greater flexibility to pursue activities permitted for financial holding companies. Investor presentations and Form 8‑K filings reference periodic investor decks that explain the company’s financial condition, capital levels, asset quality and strategic priorities.

Growth, branch activity and capital actions

In recent periods, Carter Bankshares, Inc. has reported loan growth across its footprint and highlighted expansion of its commercial lending platform. The bank has added seasoned commercial lenders in what it describes as key strategic growth markets. Press releases detail the acquisition of deposits and branch facilities in Mooresville and Winston‑Salem, North Carolina, and the hiring of experienced local bankers to lead new markets such as Gastonia and Greenville.

The company has also taken capital management actions, including a stock repurchase program authorizing repurchases of its common stock up to a specified dollar amount over a defined period. In its financial result announcements, the company reports on repurchase activity, including the number of shares repurchased and aggregate cost, and presents this program as a way to return capital to shareholders, subject to board discretion.

Asset quality and key credit relationships

Carter Bankshares, Inc. devotes significant discussion in its earnings releases to credit quality. The company reports that its financial results are significantly affected by loans in the bank’s "Other" segment that have been on nonaccrual status since the second quarter of 2023. These loans, which are now reduced to judgments, relate to entities referred to as the "Justice Entities" and represent the bank’s largest credit relationship.

The company discloses the aggregate principal balance of this relationship, its share of total nonperforming loans (NPLs) and total portfolio loans, and the amount of curtailment payments received over time. It also reports specific reserves associated with this relationship and describes the use of a discounted cash flow model with updated assumptions and inputs to evaluate the credit, legal and related risks. Management commentary in multiple quarters notes that this relationship has a material negative impact on interest income, net interest margin and certain asset quality metrics, while also emphasizing curtailment payments and reductions in the NPL balance.

Financial performance themes

Across several quarterly and annual earnings releases, Carter Bankshares, Inc. highlights themes such as net interest income trends, net interest margin, loan and deposit growth, funding costs, noninterest income and noninterest expense. The company attributes changes in net interest income and margin to factors including Federal Reserve short‑term interest rate cuts, changes in deposit costs, loan yields, securities yields and the impact of the large nonperforming credit relationship.

Noninterest income discussions reference insurance commissions, service charges, other noninterest income items and gains related to bank owned life insurance death benefits. Noninterest expense commentary addresses salaries and employee benefits, occupancy expense, professional and legal fees, advertising, data processing and other noninterest expenses, including items related to other real estate owned (OREO) and BOLI transactions.

Investor communications and disclosures

Carter Bankshares, Inc. regularly furnishes Form 8‑K reports to the U.S. Securities and Exchange Commission (SEC) to provide earnings releases, investor presentations, regulatory developments and other material information. These filings often include cautionary language about forward‑looking statements, referencing risk factors described in the company’s Annual Report on Form 10‑K.

Investor presentations referenced in 8‑K filings are used with investors, analysts and other interested parties to explain the company’s financial data, strategy, asset quality and capital position. The company also issues press releases through newswire services to announce branch transactions, market expansions, leadership changes and regulatory milestones, such as joining the Federal Reserve System as a state member bank.

Position within the banking sector

Within the commercial banking industry, Carter Bankshares, Inc. presents itself as a community‑focused institution with a regional footprint in Virginia and North Carolina and an expanding presence in the Carolinas. Its disclosures emphasize relationship‑driven banking, local decision‑making and support for small and mid‑sized companies in its markets. At the same time, its SEC filings and earnings releases provide detailed information on credit quality, capital, liquidity and earnings, reflecting the regulatory and investor expectations for a publicly traded bank holding company.