Every 8-K that Carter Bankshares, Inc. (CARE) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow CARE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CARE filings page.
Carter Bankshares, Inc. and its wholly owned subsidiary Carter Bank & Trust announced that a lawsuit in the Circuit Court of Greenbrier County, West Virginia brought by James C. Justice, II, members of his family, and related entities has been voluntarily dismissed with prejudice as of August 17, 2026.
“With prejudice” means the dismissal is final as to those claims in that court. The disclosure does not describe the underlying allegations or any financial terms, focusing solely on the procedural resolution of the case.
Carter Bankshares, Inc. established a new Dividend Reinvestment and Stock Purchase Plan for existing shareholders. The company may offer up to 1,000,000 shares of common stock, par value $1.00 per share, for purchase under the plan. Participants can acquire additional shares through both dividend reinvestment and optional cash purchases, with Computershare Trust Company, N.A. serving as plan administrator. Dividend reinvestments will begin with the first dividend, if any, declared and paid after August 24, 2026; the dividend declared on July 22, 2026 and payable on August 24, 2026 is excluded. The company filed a Form S-3D registration statement for these shares, effective August 11, 2026. Carter Bankshares reports $4.8 billion in assets and 63 branches in Virginia and North Carolina as of June 30, 2026.
Carter Bankshares, Inc. presented a second‑quarter 2026 update highlighting profitability, capital and risk metrics. Net income was $28,911 thousand, with adjusted net income of $11,598 thousand. Diluted EPS was $1.31 and adjusted diluted EPS $0.53. Adjusted return on average assets was 0.96%, adjusted return on average equity 8.83%, and net interest margin (FTE) reached 3.40% with an adjusted efficiency ratio of 62.66%.
Total assets were $4,801,883 thousand, portfolio loans $3,734,594 thousand, deposits $4,197,556 thousand, and shareholders’ equity $539,146 thousand as of June 30, 2026. Regulatory capital exceeded minimums, with a CET1 ratio of 14.26%, total risk‑based capital of 15.51%, leverage ratio of 11.65%, and adjusted book value of $25.81 per share. Total liquidity sources were $1,768,635 thousand, and total available liquidity equaled 237.9% of uninsured deposits.
Asset quality strengthened after resolution of the largest nonperforming relationship earlier in 2026. Nonperforming loans were 1.01% of portfolio loans, down from 6.69% a year earlier, and nonperforming assets were 1.09% of total assets plus OREO, with past‑due loans at 0.07%. The allowance for credit losses totaled $55,170 thousand, or 1.48% of portfolio loans, and year‑to‑date net recoveries equaled (0.82)% of average loans. Detailed hospitality, multifamily, retail and office loan exposures are provided, including average loan‑to‑value ratios and geographic concentrations.
Carter Bankshares, Inc. declared a quarterly cash dividend of $0.10 per share on its common stock. The dividend is payable on August 24, 2026 to shareholders of record as of August 10, 2026. Based on the $32.92 closing share price on July 22, 2026, the annualized dividend yield is 1.22%.
The company, headquartered in Martinsville, Virginia, reported $4.8 billion in assets and 63 branches in Virginia and North Carolina as of June 30, 2026. The report also includes forward-looking statements outlining risks related to interest rates, credit losses under CECL, capital and liquidity, and commercial real estate exposures.
Carter Bankshares, Inc. reported second quarter 2026 net income of $28.9 million, or $1.31 diluted EPS, versus $85.8 million ($3.88) in the first quarter of 2026 and $8.5 million ($0.37) a year earlier. Adjusted net income was $11.6 million. Results reflected significant nonrecurring items, including a $35.9 million gain from the sale of its interest in Bearing Insurance Group (the Insurance Transaction) and a $12.5 million loss on securities sold in a Portfolio Repositioning, following a $65.0 million gain from a large Loan Sale Transaction in the first quarter.
Core performance improved, with net interest income rising to $40.0 million and net interest margin expanding to 3.38%. Nonperforming loans were $37.6 million, or 1.01% of portfolio loans, sharply lower than $250.6 million a year earlier but up sequentially due to one commercial relationship. Total assets were $4.8 billion, shareholders’ equity $539.1 million, and the Tier 1 capital ratio 14.26%. The company held no FHLB borrowings, had 82.3% of deposits insured, and repurchased 108,601 shares for $2.9 million.
Carter Bankshares, Inc. updated its executive contracts on June 18, 2026. The company entered into second amended and restated employment agreements with CEO Litz H. Van Dyke, President and Chief Strategy Officer Bradford N. Langs, CFO Wendy S. Bell, and COO Matthew M. Speare, plus a revised change of control severance agreement with Chief Credit Officer Tony E. Kallsen.
The agreements refresh titles and set current base salary levels as floors, broaden clawback language to cover all applicable laws, regulations, exchange rules and company policies, and remove an automobile allowance tax gross-up. They refine the definition of Cause to include breach of the duty of loyalty while requiring willful conduct for certain performance or policy failures.
Termination, severance, confidentiality and noncompetition provisions are updated to reflect a new Virginia law affecting noncompetition provisions beginning July 1, 2026, including one month of severance for certain terminations that do not already trigger full severance, excluding death, Cause and voluntary departures other than for Good Reason. The change of control agreement aligns Cause, Incapacity and restrictive covenants with the employment agreements and removes an automatic full payout feature tied to Internal Revenue Code Section 409A.
Carter Bankshares, Inc. completed a strategic repositioning of part of its securities available-for-sale portfolio. The bank sold $139.4 million in book value securities yielding 2.28%, representing about 18.7% of its securities portfolio, and purchased approximately $88.5 million of higher-yielding securities with an average yield of about 5.27%, all rated AAA or AA.
The company estimates a pre-tax loss of roughly $12.5 million from the sales, to be recorded in second-quarter 2026 results. Based on current information, it expects this loss to be recovered over about 2.98 years and projects that the repositioning will improve annual interest income by approximately $4.2 million. Remaining proceeds are expected to support organic loan growth.
Carter Bankshares, Inc. reported results from its 2026 Annual Meeting of Shareholders held on May 27, 2026. A total of 17,183,400 shares were voted in person or by proxy. Shareholders elected 11 directors, each receiving over 11.7 million votes "for" with additional broker non-votes recorded.
In an advisory, non-binding vote, shareholders approved executive compensation with 11,748,459 votes for, 695,815 against, 169,767 abstentions and 4,569,359 broker non-votes. Shareholders also ratified the appointment of Crowe LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, with 17,089,948 votes for, 90,529 against and 2,923 abstentions.
Carter Bankshares, Inc. furnished a first-quarter 2026 investor presentation highlighting a major cleanup of legacy credit issues and stronger capital and liquidity. The bank completed the sale of its largest legacy nonperforming loan relationship, receiving total consideration of $289.5M and recognizing $98.0M of combined gain, recovery and reserve release.
For Q1 2026, net income was $85.8M, with adjusted net income of $8.6M excluding the one-time transaction effects. Asset quality improved sharply, as nonperforming loans fell to 0.64% of portfolio loans and past due loans were 0.08%. The bank reported $4.8B in assets, $3.7B in loans and $4.2B in deposits, with a Common Equity Tier 1 ratio of 13.52% and total available liquidity of about $1.6B.
Carter Bankshares, Inc., holding company for Carter Bank & Trust, has completed the sale of its membership interest in Bearing Insurance Group, LLC to an unaffiliated third party, effective May 1, 2026.
Based on current information, the company estimates a pre-tax gain of approximately $35.8 million from this transaction, expected to be recognized in its financial results for the second quarter of 2026. The company also highlights that statements about the financial impact of the sale are forward-looking and subject to various risks and uncertainties.
Carter Bankshares, Inc. announced that its board reinstated a quarterly cash dividend, declaring $0.10 per share for shareholders. The dividend is payable on May 25, 2026 to shareholders of record on May 11, 2026.
Based on the April 21, 2026 closing stock price of $24.44, the annualized dividend yield is 1.64%. Management highlights that this is the first quarterly cash dividend in nearly 10 years and attributes the move to improved financial metrics and continued strong fundamentals. The company reports $4.8 billion in assets and operates 63 branches in Virginia and North Carolina as of March 31, 2026.
Carter Bankshares, Inc. reported a sharp jump in profitability for the first quarter of 2026, driven by the sale of its largest nonperforming credit relationship. Net income was $85.8 million, or $3.88 diluted EPS, versus $8.5 million ($0.38) in the prior quarter and $9.0 million ($0.39) a year earlier.
The bank sold nonperforming loans with $209.5 million of principal for $289.5 million in cash, recognizing an $80.0 million net gain, releasing $18.0 million of specific reserves and recording $15.0 million of net recoveries. This materially improved asset quality, cutting nonperforming loans to $24.0 million, or 0.64% of portfolio loans, from $244.0 million (6.29%) at year-end.
Capital and earnings metrics strengthened, with the Tier 1 capital ratio rising to 13.52% from 10.70% and book value per share increasing by $3.77 year-over-year to $22.78. However, adjusted diluted EPS excluding the transaction was $0.40, similar to $0.41 in the prior quarter, indicating core earnings remain steady rather than transformed.
Carter Bankshares completed a major cleanup of problem credits by selling all loans, subsequently reduced to judgments, tied to entities in which James C. Justice, II has an interest. The bank sold these nonperforming, nonaccrual loans in an absolute “as-is, where-is” transaction to an unaffiliated third party for $289.48 million in cash, compared with an outstanding aggregate principal balance of $209.48 million and a specific reserve of $18.04 million as of December 31, 2025.
On a pro forma basis as of December 31, 2025, the sale would have reduced total loans to approximately $3.67 billion from $3.88 billion, while total assets would have been about $4.95 billion versus previously reported $4.85 billion. The allowance for credit losses would have been approximately $53.46 million, or 1.46% of total loans, compared with $71.49 million, or 1.84%, previously. Total nonperforming loans would have declined sharply to about $29.96 million, or 0.82% of total loans, from $243.98 million, or 6.29%.
The company currently estimates the transaction will increase tangible book value by approximately $3.49 per common share. Management emphasized that all pro forma figures are unaudited, based on preliminary assumptions, and presented for illustration only, with final impacts to be detailed in the March 31, 2026 quarterly results.
Carter Bankshares, Inc. has authorized a common share repurchase program for up to $10,000,000 of its common stock. The program will run for twelve months from the date the company receives non-objection from the Federal Reserve Bank of Richmond.
The company may repurchase shares through open market purchases or privately negotiated transactions, including under Rule 10b5-1 and Rule 10b-18 trading plans. Management has full discretion over timing and amount, and the Board can modify or terminate the program at any time. The company is not required to repurchase any specific number of shares.
Carter Bankshares, Inc. furnished an updated investor presentation dated December 31, 2025 as Exhibit 99.1 to a Form 8-K under Regulation FD. Management plans to use this material with investors, analysts and other interested parties, and it is also available on the company’s website.
The investor materials are furnished, not filed, so they are not subject to Section 18 liability and are not automatically incorporated into other securities filings. The document also includes extensive cautionary language about forward-looking statements and the many economic, regulatory and credit-related risks that could cause actual results to differ.
Carter Bankshares, Inc. filed a Form 8-K to furnish a press release announcing its financial results for the three months and year ended December 31, 2025. The release is provided as Exhibit 99.1 under Item 2.02, covering results of operations and financial condition.
The company emphasizes that the earnings information is furnished, not filed, limiting certain securities law liabilities. The press release includes extensive forward-looking statements about strategy, earnings outlook, asset quality, capital and liquidity, and outlines numerous risks such as interest rate changes, credit quality, regulation, cybersecurity, economic conditions, and real estate exposure.
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.
Carter Bankshares, Inc. furnished an investor presentation under Regulation FD. The company provided an updated “September 30, 2025 Investor Presentation” as Exhibit 99.1 to a Form 8-K. The presentation is available on the company’s website.
The information was furnished under Item 7.01 and is not deemed filed for purposes of Section 18 of the Exchange Act, nor incorporated by reference unless expressly stated. Carter Bankshares’ common stock (par value $1.00) trades on the NASDAQ Global Select Market under the symbol CARE.
Carter Bankshares, Inc. furnished a Form 8-K to report that it has announced its financial results for the three and nine months ended September 30, 2025. The detailed numbers and commentary are provided in a press release attached as Exhibit 99.1, which contains the full third quarter 2025 financial results.
The filing also includes an extensive forward-looking statements disclaimer. It explains that future results can be affected by factors such as interest rates, credit quality, commercial real estate exposure, cybersecurity risks, economic conditions, regulatory actions and the outcomes of litigation. The company emphasizes that these statements are based on current assumptions and may differ materially from actual results, and it does not undertake to update them except as required by law.
Carter Bankshares disclosed that Chief Executive Officer Litz H. Van Dyke shared a letter with employees informing them of a recent medical update. The company furnished that letter as Exhibit 99.1 under a Regulation FD disclosure. The filing contains no financial metrics, operating details, transaction information, or statements about changes to leadership, succession plans, or business operations. The report is signed on the company’s behalf by Chief Financial Officer Wendy S. Bell. The 8-K therefore communicates the CEO’s employee-facing medical update without providing any information about material impacts to the company’s financial position or operations.