CARE: Carter Bank joins Richmond Fed as a state member bank

Rhea-AI Filing Summary

Carter Bankshares announced that its subsidiary, Carter Bank, received approval from the Board of Governors of the Federal Reserve System to become a state member bank. The company furnished this information under Item 7.01 (Regulation FD).

A related press release titled “Carter Bank joins the Federal Reserve of Richmond as a state member bank” was included as Exhibit 99.1. Carter Bankshares’ common stock trades on the NASDAQ Global Select Market under the symbol CARE.

Insights

Bank regulation analyst

Regulatory status changes; financial impact not detailed.

Carter Bank received approval from the Federal Reserve’s Board of Governors to become a state member bank, placing it under Federal Reserve oversight alongside state supervision. The company disclosed this via an Item 7.01 furnished update.

The filing references a press release noting membership with the Federal Reserve Bank of Richmond. No capital, earnings, or balance sheet figures accompany this disclosure, and any operational or compliance implications are not quantified in the excerpt.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20429

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 13, 2025

CARTER BANKSHARES, INC.

(Exact name of registrant as specified in its charter)

Virginia			001-39731			85-3365661
(State or other jurisdiction of incorporation)			(Commission file number)			(IRS Employer Identification No.)

1300 Kings Mountain Road, Martinsville, Virginia 24112

(Address of Principal Executive Offices) (Zip Code)

(276) 656-1776

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, $1.00 par value			CARE			NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 7.01. - Regulation FD Disclosure.

On November 13, 2025, Carter Bankshares, Inc. (the “Company”) issued a press releasing announcing that the Company’s wholly-owned banking subsidiary, Carter Bank, received approval from the Board of Governors of the Federal Reserve System to become a state member bank. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information contained in this Report on Form 8-K is furnished pursuant to Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

ITEM 9.01. - Exhibits.

(d) Exhibits.

Exhibit No.    Description

99.1        Press Release - Carter Bank joins the Federal Reserve of Richmond as a state member bank

104        Cover Page Interactive Data File (embedded within the Inline XBRL document)

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CARTER BANKSHARES, INC.

(Registrant)

Date: November 13, 2025			By:			/s/ Wendy S. Bell
			Name:			Wendy S. Bell
			Title:			Chief Financial Officer

FAQ

What did Carter Bankshares (CARE) announce?

The company reported that its subsidiary, Carter Bank, received Federal Reserve approval to become a state member bank.

Who approved Carter Bank’s state member bank status?

The Board of Governors of the Federal Reserve System approved Carter Bank’s status.

Which Federal Reserve district is Carter Bank joining?

The press release states Carter Bank is joining the Federal Reserve of Richmond as a state member bank.

How was the information provided to investors?

It was furnished under Item 7.01 (Regulation FD) via a Form 8-K.

What exhibit accompanies the disclosure?

Exhibit 99.1 is a press release about Carter Bank joining the Federal Reserve of Richmond.

What is Carter Bankshares’ trading symbol and exchange?

CARE on the NASDAQ Global Select Market.

When was the announcement made?

November 13, 2025.