Welcome to our dedicated page for Carter Bankshares SEC filings (Ticker: CARE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Carter Bankshares, Inc. filings document the company’s role as the holding company for Carter Bank, its CARE common stock listed on the Nasdaq Global Select Market, and recurring bank disclosures on results of operations, financial condition, investor presentations, capital returns, and asset quality. Form 8-K reports cover quarterly results, Regulation FD presentations, dividend actions, completed loan and asset sales, and other material events.
Proxy materials disclose board matters, executive compensation, equity awards, shareholder voting items, and governance practices. The filings also address bank-specific disclosures tied to credit performance, liquidity, capital levels, regulatory oversight, loan portfolio composition, and forward-looking statements used in financial and strategic reporting.
The Vanguard Group filed an Amendment No. 2 to a Schedule 13G/A reporting zero beneficial ownership in Carter Bankshares Inc common stock. The amendment states The Vanguard Group holds 0 shares and 0% of the class and disaggregates certain subsidiaries following an internal realignment.
The filing is signed by Ashley Grim, Head of Global Fund Administration, and reiterates that no single outside person holds more than 5% of the reported securities.
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. Chief Executive Officer Van Dyke Litz reported a small tax-related share disposition. On the reported date, 819 shares of common stock were delivered at $20.98 per share to satisfy a tax liability, rather than sold in the open market. After this transaction, he directly held 67,467 shares of common stock, indicating the move was a routine administrative adjustment rather than a change in his overall investment position.
Carter Bankshares, Inc. president and chief strategy officer Bradford N. Langs reported a Form 4 transaction involving company common stock. On March 4, he had 638 shares disposed of at $20.98 per share to cover tax obligations, a routine tax-withholding event rather than an open-market sale. After this transaction, he directly owned 32,593 shares of Carter Bankshares common stock.
Carter Bankshares, Inc. senior executive vice president and chief operating officer Matthew M. Speare reported a tax-related share disposition. On March 4, 411 shares of common stock were withheld at $20.98 per share to cover tax obligations, leaving him with 26,793 shares held directly.
Carter Bankshares, Inc. reported that Senior Executive VP and CFO Wendy S. Bell had 435 shares of Common Stock withheld on March 4 to cover tax obligations, at a reported value of $20.98 per share. After this tax-withholding disposition, she directly holds 40,223 shares of Carter Bankshares common stock.
Carter Bankshares, Inc. executive vice president and chief administrative officer Jane Ann Davis reported a small tax-related share disposition. On this Form 4, 309 shares of common stock were withheld at $20.98 per share to cover tax obligations, and she now directly holds 12,430 shares.
Carter Bankshares, Inc., a Martinsville, Virginia-based financial holding company with $4.9 billion in assets at December 31, 2025, operates 64 branches in Virginia and North Carolina through Carter Bank & Trust. The company earns most of its revenue from interest on loans and securities, supplemented by fees from a broad mix of commercial and consumer banking products and extensive digital services.
During 2025 it completed the purchase of two North Carolina branches, adding $55.9 million in deposits, and elected financial holding company status while the bank joined the Federal Reserve System. Human capital remains a focus, with 687 full-time associates, a 15.1% voluntary turnover rate, structured training and leadership programs, and stock awards for high performers.
The filing emphasizes significant credit and concentration risk. Nonperforming loans total $244.0 million, or 6.29% of the loan portfolio, dominated by a single large relationship with Justice-affiliated entities totaling $214.0 million, representing 87.7% of nonperforming assets and 5.5% of total loans. These loans are on nonaccrual, causing approximately $91.2 million of foregone interest and higher FDIC insurance assessments. The bank also holds substantial commercial real estate exposure, with CRE (excluding construction) of about $2.2 billion (57.1% of loans), hospitality loans of $373.5 million (9.6%), and CRE construction loans of $481.8 million (12.4%), which regulators may scrutinize closely.
Carter Bankshares, Inc. executive Tony E. Kallsen, SEVP and Chief Credit Officer, reported multiple common stock transactions. On February 25, 2026, he acquired 2,023 shares and 2,335 shares of common stock at $0.00 per share through grant or award transactions, increasing his direct holdings after each grant. Footnotes describe these as restricted stock awards with three-year vesting, including both annual vesting and three-year cliff vesting structures. On February 14, 2026, 351 shares were disposed of at $22.01 per share to cover tax obligations by delivering shares, a tax-withholding disposition rather than an open-market sale.
Carter Bankshares, Inc. senior executive VP and CFO Wendy S. Bell reported equity awards and a tax-related share disposition. On February 25, 2026, she acquired 2,513 and 3,292 common shares at no cost as restricted stock awards, with one grant vesting over three years in equal thirds and the other after three years in a single tranche. On February 14, 2026, 554 shares were disposed of at $22.01 per share to cover tax obligations by delivering stock, leaving direct holdings of 34,853 shares after that transaction and 40,658 shares after the subsequent grants.