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.
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.
Carter Bankshares, Inc. executive Jane Ann Davis, EVP and Chief Administrative Officer, reported two stock transactions involving the company’s common stock. She acquired 1,230 shares as a grant or award at $0.00 per share, described as restricted stock awards with three-year vesting in equal annual thirds. She also disposed of 291 shares at $22.01 per share to cover tax obligations through share withholding rather than an open-market sale. Following these transactions, she held 12,739 common shares directly.
Carter Bankshares, Inc. reported that President and Chief Strategy Officer Bradford N. Langs received equity compensation in the form of restricted stock awards and had a small share disposition for tax purposes. On February 25, 2026, he acquired 3,689 shares of common stock as a restricted stock award with three-year vesting at one-third per year, and an additional 4,428 shares as a restricted stock award with three-year cliff vesting. On February 14, 2026, 781 shares of common stock were disposed of at $22.01 per share to satisfy tax withholding obligations, rather than an open-market sale.
Carter Bankshares, Inc. director and CEO Van Dyke Litz reported stock-based compensation and a tax-related share disposition. On February 25, 2026, he acquired 4,870 and 7,198 shares of common stock at $0.00 per share as restricted stock awards, with three-year vesting structures (one vests 1/3 each year, the other after three years). On February 14, 2026, 1,158 shares were disposed of at $22.01 per share to cover tax obligations. Following one of the awards, his direct holdings were reported as 68,286 common shares.
Adams Arthur Loran reported acquisition or exercise transactions in this Form 4 filing.
Carter Bankshares, Inc. executive vice president Arthur Loran Adams received a grant of 1,002 shares of common stock as a restricted stock award with three-year vesting in equal annual installments. Following this award, he directly owns 11,412 shares of Carter Bankshares common stock.
Carter Bankshares, Inc. reported that Senior Executive Vice President and Chief Operating Officer Matthew M. Speare acquired common stock through two restricted stock awards on February 25, 2026. He received 2,220 shares and an additional 3,075 shares at no purchase price. After these awards, his directly owned common stock holdings increased to 27,204 shares. One grant consists of restricted stock that vests over three years at one-third each year, while the other is restricted stock that vests on a three-year cliff schedule.
Fourthstone LLC and affiliated funds report beneficial ownership of 1,236,393 shares of Carter Bankshares, Inc. common stock, representing 5.60% of the class as of the reporting date.
The stake is held by Fourthstone as a registered investment adviser on behalf of advisory clients and, together with related entities and L. Phillip Stone IV, is certified as being acquired and held in the ordinary course of business, not for changing or influencing control. The percentage is based on 22,087,044 shares outstanding as of October 29, 2025, as disclosed in Carter Bankshares’ Form 10-Q.
Carter Bankshares director Elizabeth L. Walsh reported an insider transaction involving the company’s common stock. On 01/30/2026, she gifted 900 shares of Carter Bankshares common stock to her mother, a transfer reported at a price of $0 per share, which is typical for a gift.
After this transaction, Walsh directly owned 54,178 shares of Carter Bankshares common stock. She also reported indirect ownership positions, including 4,769 shares held by Carriage Square, 367,771 shares held by EASG, LLC, and 16,000 shares held by Lester Family Holdings. The filing reflects a change in how a portion of her holdings is allocated within her family, rather than a market sale for cash.