Annual Income Statements for Carter Bankshares
This table shows Carter Bankshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Carter Bankshares
This table shows Carter Bankshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
14 |
16 |
16 |
5.70 |
3.63 |
-1.89 |
5.81 |
4.80 |
5.63 |
8.28 |
Consolidated Net Income / (Loss) |
|
14 |
16 |
16 |
5.70 |
3.63 |
-1.89 |
5.81 |
4.80 |
5.63 |
8.28 |
Net Income / (Loss) Continuing Operations |
|
14 |
16 |
16 |
5.70 |
3.63 |
-1.89 |
5.81 |
4.80 |
5.63 |
8.28 |
Total Pre-Tax Income |
|
19 |
19 |
20 |
5.76 |
4.41 |
-1.89 |
7.23 |
5.92 |
7.03 |
11 |
Total Revenue |
|
43 |
47 |
46 |
32 |
33 |
31 |
33 |
34 |
34 |
35 |
Net Interest Income / (Expense) |
|
38 |
42 |
41 |
27 |
27 |
27 |
28 |
28 |
29 |
29 |
Total Interest Income |
|
42 |
48 |
52 |
44 |
49 |
52 |
54 |
55 |
57 |
57 |
Loans and Leases Interest Income |
|
37 |
41 |
44 |
36 |
41 |
43 |
46 |
46 |
49 |
50 |
Investment Securities Interest Income |
|
5.66 |
6.94 |
7.80 |
8.17 |
8.37 |
8.56 |
8.19 |
8.09 |
7.54 |
6.97 |
Deposits and Money Market Investments Interest Income |
|
0.00 |
0.00 |
0.02 |
0.01 |
0.01 |
0.03 |
0.01 |
0.03 |
0.04 |
0.01 |
Total Interest Expense |
|
4.60 |
6.69 |
11 |
17 |
21 |
24 |
26 |
26 |
28 |
27 |
Deposits Interest Expense |
|
4.47 |
5.34 |
7.52 |
12 |
15 |
18 |
21 |
23 |
26 |
26 |
Long-Term Debt Interest Expense |
|
0.11 |
1.20 |
3.48 |
5.15 |
6.06 |
6.43 |
4.91 |
3.77 |
2.28 |
0.88 |
Total Non-Interest Income |
|
5.24 |
5.54 |
4.74 |
5.03 |
5.27 |
3.25 |
5.05 |
5.53 |
5.42 |
5.37 |
Trust Fees by Commissions |
|
- |
- |
0.17 |
0.51 |
0.87 |
0.40 |
0.61 |
0.93 |
1.06 |
1.07 |
Other Service Charges |
|
0.47 |
17 |
4.23 |
4.18 |
4.06 |
4.01 |
4.08 |
4.20 |
3.98 |
3.88 |
Net Realized & Unrealized Capital Gains on Investments |
|
-0.01 |
-0.34 |
-0.01 |
0.00 |
-0.00 |
-1.51 |
0.00 |
0.04 |
0.00 |
0.03 |
Other Non-Interest Income |
|
4.77 |
-13 |
0.34 |
0.34 |
0.35 |
0.35 |
0.35 |
0.37 |
0.38 |
0.39 |
Provision for Credit Losses |
|
0.08 |
0.37 |
1.42 |
0.45 |
0.98 |
3.57 |
0.02 |
0.26 |
-0.24 |
-5.08 |
Total Non-Interest Expense |
|
23 |
28 |
24 |
26 |
27 |
29 |
26 |
27 |
27 |
29 |
Salaries and Employee Benefits |
|
14 |
15 |
14 |
14 |
14 |
15 |
14 |
14 |
15 |
15 |
Net Occupancy & Equipment Expense |
|
4.25 |
5.00 |
4.12 |
4.66 |
4.62 |
4.55 |
4.64 |
5.03 |
5.28 |
5.58 |
Marketing Expense |
|
0.37 |
0.56 |
0.34 |
0.43 |
0.36 |
0.56 |
0.36 |
0.53 |
0.59 |
1.07 |
Property & Liability Insurance Claims |
|
0.54 |
0.48 |
0.64 |
0.70 |
1.37 |
2.19 |
1.69 |
1.57 |
1.53 |
1.42 |
Other Operating Expenses |
|
5.55 |
6.75 |
4.82 |
6.10 |
6.97 |
7.17 |
5.37 |
6.11 |
5.44 |
5.91 |
Income Tax Expense |
|
5.01 |
3.47 |
4.50 |
0.05 |
0.78 |
-0.00 |
1.42 |
1.12 |
1.40 |
2.40 |
Basic Earnings per Share |
|
$0.59 |
$0.64 |
$0.67 |
$0.24 |
$0.16 |
($0.07) |
$0.25 |
$0.21 |
$0.24 |
$0.36 |
Weighted Average Basic Shares Outstanding |
|
24.27M |
24.60M |
23.77M |
23.51M |
22.95M |
23.24M |
22.77M |
22.83M |
22.83M |
22.82M |
Diluted Earnings per Share |
|
$0.59 |
$0.64 |
$0.67 |
$0.24 |
$0.16 |
($0.07) |
$0.25 |
$0.21 |
$0.24 |
$0.36 |
Weighted Average Diluted Shares Outstanding |
|
24.27M |
24.60M |
23.77M |
23.51M |
22.95M |
23.24M |
22.77M |
22.83M |
22.83M |
22.82M |
Weighted Average Basic & Diluted Shares Outstanding |
|
24.11M |
23.92M |
23.94M |
23.33M |
22.96M |
23.02M |
23.02M |
23.07M |
23.07M |
23.13M |
Annual Cash Flow Statements for Carter Bankshares
This table details how cash moves in and out of Carter Bankshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-231 |
7.66 |
77 |
Net Cash From Operating Activities |
71 |
47 |
37 |
Net Cash From Continuing Operating Activities |
71 |
47 |
37 |
Net Income / (Loss) Continuing Operations |
50 |
23 |
25 |
Consolidated Net Income / (Loss) |
50 |
23 |
25 |
Provision For Loan Losses |
2.93 |
6.40 |
-5.05 |
Depreciation Expense |
6.06 |
6.25 |
7.06 |
Amortization Expense |
6.37 |
8.46 |
4.11 |
Non-Cash Adjustments to Reconcile Net Income |
4.68 |
2.29 |
2.87 |
Changes in Operating Assets and Liabilities, net |
0.64 |
-0.05 |
3.43 |
Net Cash From Investing Activities |
-382 |
-307 |
-68 |
Net Cash From Continuing Investing Activities |
-382 |
-307 |
-68 |
Purchase of Property, Leasehold Improvements and Equipment |
-5.89 |
-9.80 |
-8.13 |
Purchase of Investment Securities |
-486 |
-396 |
-146 |
Sale of Property, Leasehold Improvements and Equipment |
0.41 |
0.00 |
0.00 |
Sale and/or Maturity of Investments |
109 |
99 |
86 |
Net Cash From Financing Activities |
80 |
268 |
108 |
Net Cash From Continuing Financing Activities |
80 |
268 |
108 |
Net Change in Deposits |
-68 |
89 |
432 |
Issuance of Debt |
301 |
3,442 |
1,870 |
Repayment of Debt |
-127 |
-3,229 |
-2,193 |
Repurchase of Common Equity |
-43 |
-16 |
0.00 |
Other Financing Activities, Net |
18 |
-18 |
0.00 |
Cash Interest Paid |
19 |
69 |
106 |
Cash Income Taxes Paid |
5.79 |
5.72 |
0.48 |
Quarterly Cash Flow Statements for Carter Bankshares
This table details how cash moves in and out of Carter Bankshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-4.53 |
-19 |
35 |
-28 |
2.12 |
-0.87 |
54 |
-46 |
43 |
26 |
Net Cash From Operating Activities |
|
21 |
23 |
22 |
7.16 |
9.26 |
7.88 |
18 |
-2.46 |
10 |
11 |
Net Cash From Continuing Operating Activities |
|
21 |
23 |
22 |
7.16 |
9.26 |
7.88 |
18 |
-2.46 |
10 |
11 |
Net Income / (Loss) Continuing Operations |
|
14 |
16 |
16 |
5.70 |
3.63 |
-1.89 |
5.81 |
4.80 |
5.63 |
8.28 |
Consolidated Net Income / (Loss) |
|
14 |
16 |
16 |
5.70 |
3.63 |
-1.89 |
5.81 |
4.80 |
5.63 |
8.28 |
Provision For Loan Losses |
|
0.08 |
0.37 |
1.50 |
0.45 |
0.98 |
3.48 |
-0.03 |
0.26 |
-0.24 |
-5.03 |
Depreciation Expense |
|
1.52 |
1.57 |
1.51 |
1.57 |
1.61 |
1.56 |
1.67 |
1.75 |
1.79 |
1.84 |
Amortization Expense |
|
0.62 |
1.36 |
1.88 |
1.60 |
1.65 |
3.32 |
1.21 |
0.99 |
0.89 |
1.02 |
Non-Cash Adjustments to Reconcile Net Income |
|
0.11 |
3.54 |
0.30 |
0.31 |
-0.30 |
1.97 |
0.27 |
-1.65 |
2.47 |
1.78 |
Changes in Operating Assets and Liabilities, net |
|
4.16 |
0.64 |
1.30 |
-2.48 |
1.70 |
-0.57 |
8.70 |
-8.61 |
-0.23 |
3.57 |
Net Cash From Investing Activities |
|
-20 |
-112 |
-125 |
-51 |
-79 |
-52 |
10 |
-22 |
-23 |
-34 |
Net Cash From Continuing Investing Activities |
|
-20 |
-112 |
-125 |
-51 |
-79 |
-52 |
10 |
-22 |
-23 |
-34 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-1.66 |
-1.70 |
-1.93 |
-4.05 |
-2.00 |
-1.82 |
-1.31 |
-1.81 |
-1.88 |
-3.14 |
Purchase of Investment Securities |
|
-40 |
-125 |
-136 |
-71 |
-81 |
-107 |
-4.87 |
-54 |
-39 |
-48 |
Sale and/or Maturity of Investments |
|
21 |
14 |
13 |
24 |
4.18 |
58 |
16 |
34 |
18 |
17 |
Net Cash From Financing Activities |
|
-5.18 |
70 |
138 |
16 |
72 |
43 |
26 |
-22 |
56 |
48 |
Net Cash From Continuing Financing Activities |
|
-5.18 |
70 |
138 |
16 |
72 |
43 |
26 |
-22 |
56 |
48 |
Net Change in Deposits |
|
-27 |
-96 |
-97 |
44 |
-21 |
164 |
109 |
51 |
204 |
68 |
Issuance of Debt |
|
23 |
278 |
255 |
-28 |
107 |
3,108 |
0.00 |
- |
- |
1,870 |
Repayment of Debt |
|
7.00 |
-127 |
0.00 |
- |
- |
-3,229 |
-83 |
-73 |
-148 |
-1,890 |
Cash Interest Paid |
|
4.66 |
5.64 |
9.10 |
15 |
21 |
24 |
25 |
26 |
28 |
27 |
Cash Income Taxes Paid |
|
2.92 |
2.54 |
0.03 |
5.53 |
0.11 |
0.06 |
0.03 |
0.24 |
0.19 |
0.02 |
Annual Balance Sheets for Carter Bankshares
This table presents Carter Bankshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
4,205 |
4,513 |
4,659 |
Cash and Due from Banks |
47 |
55 |
131 |
Trading Account Securities |
836 |
779 |
718 |
Loans and Leases, Net of Allowance |
3,055 |
3,409 |
3,549 |
Loans and Leases |
3,149 |
3,506 |
3,625 |
Allowance for Loan and Lease Losses |
94 |
97 |
76 |
Premises and Equipment, Net |
72 |
74 |
74 |
Other Assets |
194 |
196 |
176 |
Total Liabilities & Shareholders' Equity |
4,205 |
4,513 |
4,659 |
Total Liabilities |
3,876 |
4,161 |
4,275 |
Non-Interest Bearing Deposits |
706 |
685 |
634 |
Interest Bearing Deposits |
2,927 |
3,037 |
3,519 |
Long-Term Debt |
181 |
393 |
70 |
Other Long-Term Liabilities |
43 |
43 |
48 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
329 |
351 |
384 |
Total Preferred & Common Equity |
329 |
351 |
384 |
Total Common Equity |
329 |
351 |
384 |
Common Stock |
129 |
114 |
115 |
Retained Earnings |
286 |
309 |
334 |
Accumulated Other Comprehensive Income / (Loss) |
-86 |
-71 |
-65 |
Quarterly Balance Sheets for Carter Bankshares
This table presents Carter Bankshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
4,114 |
4,366 |
4,384 |
4,452 |
4,555 |
4,533 |
4,613 |
Cash and Due from Banks |
|
61 |
81 |
53 |
55 |
108 |
62 |
105 |
Trading Account Securities |
|
853 |
863 |
822 |
793 |
769 |
746 |
743 |
Loans and Leases, Net of Allowance |
|
2,937 |
3,154 |
3,236 |
3,316 |
3,413 |
3,453 |
3,515 |
Loans and Leases |
|
3,031 |
3,249 |
3,330 |
3,411 |
3,509 |
3,550 |
3,596 |
Allowance for Loan and Lease Losses |
|
94 |
95 |
94 |
94 |
97 |
97 |
81 |
Premises and Equipment, Net |
|
73 |
72 |
75 |
74 |
73 |
73 |
73 |
Other Assets |
|
185 |
194 |
198 |
213 |
192 |
193 |
172 |
Total Liabilities & Shareholders' Equity |
|
4,114 |
4,366 |
4,384 |
4,452 |
4,555 |
4,533 |
4,613 |
Total Liabilities |
|
3,799 |
4,011 |
4,040 |
4,122 |
4,196 |
4,168 |
4,227 |
Non-Interest Bearing Deposits |
|
719 |
687 |
686 |
661 |
672 |
653 |
629 |
Interest Bearing Deposits |
|
3,007 |
2,846 |
2,891 |
2,895 |
3,159 |
3,228 |
3,456 |
Long-Term Debt |
|
30 |
435 |
407 |
514 |
311 |
238 |
90 |
Other Long-Term Liabilities |
|
44 |
42 |
48 |
51 |
52 |
46 |
48 |
Total Equity & Noncontrolling Interests |
|
315 |
355 |
344 |
331 |
359 |
364 |
387 |
Total Preferred & Common Equity |
|
315 |
355 |
344 |
331 |
359 |
364 |
387 |
Total Common Equity |
|
315 |
355 |
344 |
331 |
359 |
364 |
387 |
Common Stock |
|
131 |
127 |
119 |
113 |
114 |
114 |
115 |
Retained Earnings |
|
270 |
302 |
307 |
311 |
315 |
320 |
325 |
Accumulated Other Comprehensive Income / (Loss) |
|
-86 |
-73 |
-82 |
-94 |
-70 |
-70 |
-53 |
Annual Metrics And Ratios for Carter Bankshares
This table displays calculated financial ratios and metrics derived from Carter Bankshares' official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
15.41% |
-13.03% |
-3.39% |
EBITDA Growth |
53.10% |
-41.44% |
-3.20% |
EBIT Growth |
72.89% |
-53.46% |
7.48% |
NOPAT Growth |
58.65% |
-53.34% |
4.87% |
Net Income Growth |
58.65% |
-53.34% |
4.87% |
EPS Growth |
70.59% |
-50.74% |
6.00% |
Operating Cash Flow Growth |
-8.70% |
-33.99% |
-20.95% |
Free Cash Flow Firm Growth |
-148.24% |
-376.99% |
248.46% |
Invested Capital Growth |
22.81% |
46.24% |
-38.99% |
Revenue Q/Q Growth |
8.92% |
-10.45% |
2.92% |
EBITDA Q/Q Growth |
18.02% |
-31.11% |
34.06% |
EBIT Q/Q Growth |
24.24% |
-42.88% |
69.89% |
NOPAT Q/Q Growth |
24.92% |
-42.80% |
70.83% |
Net Income Q/Q Growth |
24.92% |
-42.80% |
70.83% |
EPS Q/Q Growth |
27.67% |
-41.52% |
68.25% |
Operating Cash Flow Q/Q Growth |
8.55% |
-24.57% |
10.72% |
Free Cash Flow Firm Q/Q Growth |
-133.90% |
53.80% |
-17.64% |
Invested Capital Q/Q Growth |
47.67% |
-11.85% |
-4.72% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
45.87% |
30.89% |
30.95% |
EBIT Margin |
38.18% |
20.43% |
22.73% |
Profit (Net Income) Margin |
31.00% |
16.63% |
18.05% |
Tax Burden Percent |
81.21% |
81.42% |
79.44% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
18.79% |
18.58% |
20.56% |
Return on Invested Capital (ROIC) |
10.85% |
3.73% |
4.09% |
ROIC Less NNEP Spread (ROIC-NNEP) |
10.85% |
3.73% |
4.09% |
Return on Net Nonoperating Assets (RNNOA) |
2.76% |
3.15% |
2.58% |
Return on Equity (ROE) |
13.61% |
6.88% |
6.67% |
Cash Return on Invested Capital (CROIC) |
-9.63% |
-33.83% |
52.52% |
Operating Return on Assets (OROA) |
1.48% |
0.66% |
0.67% |
Return on Assets (ROA) |
1.20% |
0.54% |
0.53% |
Return on Common Equity (ROCE) |
13.61% |
6.88% |
6.67% |
Return on Equity Simple (ROE_SIMPLE) |
15.25% |
6.66% |
6.38% |
Net Operating Profit after Tax (NOPAT) |
50 |
23 |
25 |
NOPAT Margin |
31.00% |
16.63% |
18.05% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
44.18% |
53.70% |
59.62% |
Operating Expenses to Revenue |
60.01% |
75.02% |
80.99% |
Earnings before Interest and Taxes (EBIT) |
62 |
29 |
31 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
74 |
43 |
42 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.22 |
0.98 |
1.06 |
Price to Tangible Book Value (P/TBV) |
1.22 |
0.98 |
1.06 |
Price to Revenue (P/Rev) |
2.47 |
2.44 |
2.99 |
Price to Earnings (P/E) |
7.98 |
14.70 |
16.55 |
Dividend Yield |
0.00% |
0.00% |
0.00% |
Earnings Yield |
12.53% |
6.80% |
6.04% |
Enterprise Value to Invested Capital (EV/IC) |
1.05 |
0.92 |
0.76 |
Enterprise Value to Revenue (EV/Rev) |
3.30 |
4.85 |
2.54 |
Enterprise Value to EBITDA (EV/EBITDA) |
7.20 |
15.72 |
8.20 |
Enterprise Value to EBIT (EV/EBIT) |
8.65 |
23.76 |
11.17 |
Enterprise Value to NOPAT (EV/NOPAT) |
10.65 |
29.19 |
14.05 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
7.54 |
14.61 |
9.33 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.00 |
1.09 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.55 |
1.12 |
0.18 |
Long-Term Debt to Equity |
0.55 |
1.12 |
0.18 |
Financial Leverage |
0.25 |
0.84 |
0.63 |
Leverage Ratio |
11.33 |
12.82 |
12.47 |
Compound Leverage Factor |
11.33 |
12.82 |
12.47 |
Debt to Total Capital |
35.46% |
52.83% |
15.41% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
35.46% |
52.83% |
15.41% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
64.54% |
47.17% |
84.59% |
Debt to EBITDA |
2.43 |
9.06 |
1.67 |
Net Debt to EBITDA |
1.80 |
7.80 |
-1.46 |
Long-Term Debt to EBITDA |
2.43 |
9.06 |
1.67 |
Debt to NOPAT |
3.60 |
16.82 |
2.85 |
Net Debt to NOPAT |
2.67 |
14.49 |
-2.49 |
Long-Term Debt to NOPAT |
3.60 |
16.82 |
2.85 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-44 |
-212 |
315 |
Operating Cash Flow to CapEx |
1,291.34% |
476.93% |
454.17% |
Free Cash Flow to Firm to Interest Expense |
-2.20 |
-2.86 |
2.94 |
Operating Cash Flow to Interest Expense |
3.50 |
0.63 |
0.34 |
Operating Cash Flow Less CapEx to Interest Expense |
3.22 |
0.50 |
0.27 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.04 |
0.03 |
0.03 |
Fixed Asset Turnover |
2.19 |
1.93 |
1.84 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
509 |
745 |
454 |
Invested Capital Turnover |
0.35 |
0.22 |
0.23 |
Increase / (Decrease) in Invested Capital |
95 |
235 |
-290 |
Enterprise Value (EV) |
534 |
683 |
345 |
Market Capitalization |
400 |
344 |
406 |
Book Value per Share |
$13.63 |
$15.30 |
$16.66 |
Tangible Book Value per Share |
$13.63 |
$15.30 |
$16.66 |
Total Capital |
509 |
745 |
454 |
Total Debt |
181 |
393 |
70 |
Total Long-Term Debt |
181 |
393 |
70 |
Net Debt |
134 |
339 |
-61 |
Capital Expenditures (CapEx) |
5.48 |
9.80 |
8.13 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
181 |
393 |
70 |
Total Depreciation and Amortization (D&A) |
12 |
15 |
11 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$2.03 |
$1.00 |
$1.06 |
Adjusted Weighted Average Basic Shares Outstanding |
24.60M |
23.24M |
22.82M |
Adjusted Diluted Earnings per Share |
$2.03 |
$1.00 |
$1.06 |
Adjusted Weighted Average Diluted Shares Outstanding |
24.60M |
23.24M |
22.82M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
23.92M |
23.02M |
23.13M |
Normalized Net Operating Profit after Tax (NOPAT) |
50 |
23 |
25 |
Normalized NOPAT Margin |
31.00% |
16.63% |
18.05% |
Pre Tax Income Margin |
38.18% |
20.43% |
22.73% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
3.05 |
0.39 |
0.29 |
NOPAT to Interest Expense |
2.47 |
0.32 |
0.23 |
EBIT Less CapEx to Interest Expense |
2.78 |
0.26 |
0.21 |
NOPAT Less CapEx to Interest Expense |
2.20 |
0.18 |
0.15 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
85.65% |
70.20% |
0.00% |
Quarterly Metrics And Ratios for Carter Bankshares
This table displays calculated financial ratios and metrics derived from Carter Bankshares' official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
18.30% |
39.14% |
35.65% |
-16.61% |
-23.97% |
-34.85% |
-26.49% |
5.94% |
4.76% |
12.56% |
EBITDA Growth |
|
41.10% |
105.86% |
66.37% |
-44.90% |
-64.44% |
-86.79% |
-57.91% |
-2.97% |
26.73% |
367.32% |
EBIT Growth |
|
61.22% |
171.19% |
92.72% |
-54.19% |
-77.30% |
-110.34% |
-64.97% |
2.88% |
59.47% |
643.64% |
NOPAT Growth |
|
28.95% |
178.24% |
70.99% |
-47.08% |
-74.83% |
-108.47% |
-63.55% |
-15.80% |
55.20% |
726.18% |
Net Income Growth |
|
28.95% |
178.24% |
70.99% |
-47.08% |
-74.83% |
-112.10% |
-63.55% |
-15.80% |
55.20% |
538.56% |
EPS Growth |
|
40.48% |
220.00% |
86.11% |
-45.45% |
-72.88% |
-110.94% |
-62.69% |
-12.50% |
50.00% |
614.29% |
Operating Cash Flow Growth |
|
-42.87% |
31.83% |
79.91% |
-50.05% |
-55.68% |
-65.90% |
-21.40% |
-134.36% |
11.32% |
45.41% |
Free Cash Flow Firm Growth |
|
124.83% |
-219.31% |
-705.22% |
-489.17% |
-570.61% |
-199.84% |
130.39% |
137.36% |
175.27% |
226.11% |
Invested Capital Growth |
|
-20.89% |
22.81% |
120.33% |
124.87% |
144.99% |
46.24% |
-15.25% |
-19.83% |
-43.55% |
-38.99% |
Revenue Q/Q Growth |
|
12.87% |
9.56% |
-3.28% |
-30.27% |
2.91% |
-6.12% |
9.13% |
0.48% |
1.77% |
0.87% |
EBITDA Q/Q Growth |
|
33.00% |
2.12% |
6.23% |
-62.68% |
-14.16% |
-62.07% |
246.41% |
-13.96% |
12.12% |
39.85% |
EBIT Q/Q Growth |
|
54.47% |
-1.75% |
4.81% |
-71.95% |
-23.46% |
-144.77% |
464.47% |
-17.62% |
18.64% |
52.62% |
NOPAT Q/Q Growth |
|
33.68% |
8.34% |
2.13% |
-64.22% |
-36.41% |
-136.46% |
539.46% |
-17.35% |
17.20% |
47.10% |
Net Income Q/Q Growth |
|
33.68% |
8.34% |
2.13% |
-64.22% |
-36.41% |
-152.05% |
407.79% |
-17.35% |
17.20% |
47.10% |
EPS Q/Q Growth |
|
34.09% |
8.47% |
4.69% |
-64.18% |
-33.33% |
-143.75% |
457.14% |
-16.00% |
14.29% |
50.00% |
Operating Cash Flow Q/Q Growth |
|
45.87% |
10.49% |
-2.85% |
-68.10% |
29.43% |
-14.98% |
123.92% |
-113.94% |
519.36% |
11.05% |
Free Cash Flow Firm Q/Q Growth |
|
-0.27% |
-174.88% |
-426.16% |
0.96% |
-20.60% |
52.29% |
153.32% |
21.78% |
142.94% |
-20.06% |
Invested Capital Q/Q Growth |
|
3.19% |
47.67% |
55.16% |
-4.89% |
12.43% |
-11.85% |
-10.08% |
-10.03% |
-20.85% |
-4.72% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
50.17% |
46.77% |
52.55% |
28.13% |
23.47% |
9.48% |
30.09% |
25.77% |
28.39% |
39.36% |
EBIT Margin |
|
45.20% |
40.53% |
45.10% |
18.14% |
13.49% |
-6.43% |
21.49% |
17.62% |
20.54% |
31.08% |
Profit (Net Income) Margin |
|
33.54% |
33.16% |
35.02% |
17.97% |
11.10% |
-6.16% |
17.36% |
14.28% |
16.45% |
23.99% |
Tax Burden Percent |
|
74.20% |
81.82% |
77.97% |
99.06% |
82.30% |
99.95% |
80.33% |
81.08% |
80.09% |
77.51% |
Interest Burden Percent |
|
100.00% |
100.00% |
99.59% |
100.00% |
100.00% |
95.74% |
100.60% |
100.00% |
100.00% |
99.60% |
Effective Tax Rate |
|
25.80% |
18.18% |
22.03% |
0.94% |
17.70% |
0.00% |
19.67% |
18.92% |
19.91% |
22.49% |
Return on Invested Capital (ROIC) |
|
12.75% |
11.61% |
10.59% |
5.54% |
2.93% |
-0.97% |
3.06% |
2.75% |
3.29% |
5.44% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
12.75% |
11.61% |
10.59% |
5.54% |
2.93% |
-1.16% |
3.06% |
2.75% |
3.29% |
5.44% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.06% |
2.96% |
6.46% |
3.32% |
2.47% |
-0.98% |
3.19% |
2.51% |
2.77% |
3.42% |
Return on Equity (ROE) |
|
13.81% |
14.56% |
17.04% |
8.86% |
5.40% |
-1.95% |
6.25% |
5.26% |
6.05% |
8.86% |
Cash Return on Invested Capital (CROIC) |
|
33.60% |
-9.63% |
-65.25% |
-67.35% |
-77.18% |
-33.83% |
18.32% |
23.83% |
57.85% |
52.52% |
Operating Return on Assets (OROA) |
|
1.63% |
1.57% |
1.84% |
0.71% |
0.49% |
-0.21% |
0.62% |
0.52% |
0.60% |
0.92% |
Return on Assets (ROA) |
|
1.21% |
1.29% |
1.43% |
0.71% |
0.41% |
-0.20% |
0.50% |
0.42% |
0.48% |
0.71% |
Return on Common Equity (ROCE) |
|
13.81% |
14.56% |
17.04% |
8.86% |
5.40% |
-1.95% |
6.25% |
5.26% |
6.05% |
8.86% |
Return on Equity Simple (ROE_SIMPLE) |
|
12.74% |
0.00% |
15.99% |
15.01% |
12.36% |
0.00% |
3.69% |
3.39% |
3.71% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
14 |
16 |
16 |
5.70 |
3.63 |
-1.32 |
5.81 |
4.80 |
5.63 |
8.28 |
NOPAT Margin |
|
33.54% |
33.16% |
35.02% |
17.97% |
11.10% |
-4.31% |
17.36% |
14.28% |
16.45% |
23.99% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.20% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
42.21% |
43.00% |
39.79% |
59.04% |
57.99% |
64.26% |
57.36% |
58.80% |
59.82% |
62.40% |
Operating Expenses to Revenue |
|
54.62% |
58.68% |
51.79% |
80.46% |
83.52% |
94.81% |
78.46% |
81.62% |
80.17% |
83.63% |
Earnings before Interest and Taxes (EBIT) |
|
19 |
19 |
21 |
5.76 |
4.41 |
-1.97 |
7.19 |
5.92 |
7.03 |
11 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
22 |
22 |
24 |
8.93 |
7.67 |
2.91 |
10 |
8.66 |
9.71 |
14 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.26 |
1.22 |
0.94 |
1.03 |
0.88 |
0.98 |
0.81 |
0.95 |
1.04 |
1.06 |
Price to Tangible Book Value (P/TBV) |
|
1.26 |
1.22 |
0.94 |
1.03 |
0.88 |
0.98 |
0.81 |
0.95 |
1.04 |
1.06 |
Price to Revenue (P/Rev) |
|
2.67 |
2.47 |
1.93 |
2.12 |
1.86 |
2.44 |
2.26 |
2.67 |
3.04 |
2.99 |
Price to Earnings (P/E) |
|
9.86 |
7.98 |
5.90 |
6.85 |
7.15 |
14.70 |
21.96 |
28.17 |
27.95 |
16.55 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
10.14% |
12.53% |
16.94% |
14.59% |
13.99% |
6.80% |
4.55% |
3.55% |
3.58% |
6.04% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.04 |
1.05 |
0.87 |
0.94 |
0.89 |
0.92 |
0.74 |
0.87 |
0.81 |
0.76 |
Enterprise Value to Revenue (EV/Rev) |
|
2.43 |
3.30 |
3.97 |
4.23 |
4.78 |
4.85 |
3.84 |
4.02 |
2.93 |
2.54 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
5.73 |
7.20 |
8.18 |
9.20 |
11.91 |
15.72 |
16.69 |
17.89 |
12.32 |
8.20 |
Enterprise Value to EBIT (EV/EBIT) |
|
7.25 |
8.65 |
9.55 |
10.84 |
14.94 |
23.76 |
32.07 |
33.72 |
21.26 |
11.17 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
8.97 |
10.65 |
12.14 |
13.70 |
18.37 |
29.19 |
37.23 |
42.44 |
26.91 |
14.05 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
5.52 |
7.54 |
8.53 |
9.62 |
12.12 |
14.61 |
11.77 |
16.22 |
11.58 |
9.33 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
2.74 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
3.69 |
3.25 |
1.01 |
1.09 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.10 |
0.55 |
1.23 |
1.18 |
1.56 |
1.12 |
0.86 |
0.65 |
0.23 |
0.18 |
Long-Term Debt to Equity |
|
0.10 |
0.55 |
1.23 |
1.18 |
1.56 |
1.12 |
0.86 |
0.65 |
0.23 |
0.18 |
Financial Leverage |
|
0.08 |
0.25 |
0.61 |
0.60 |
0.84 |
0.84 |
1.04 |
0.91 |
0.84 |
0.63 |
Leverage Ratio |
|
11.45 |
11.33 |
11.90 |
12.54 |
13.27 |
12.82 |
12.49 |
12.58 |
12.64 |
12.47 |
Compound Leverage Factor |
|
11.45 |
11.33 |
11.85 |
12.54 |
13.27 |
12.28 |
12.57 |
12.58 |
12.64 |
12.42 |
Debt to Total Capital |
|
8.70% |
35.46% |
55.08% |
54.19% |
60.86% |
52.83% |
46.37% |
39.51% |
18.87% |
15.41% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
8.70% |
35.46% |
55.08% |
54.19% |
60.86% |
52.83% |
46.37% |
39.51% |
18.87% |
15.41% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
91.30% |
64.54% |
44.92% |
45.81% |
39.14% |
47.17% |
53.63% |
60.49% |
81.13% |
84.59% |
Debt to EBITDA |
|
0.48 |
2.43 |
5.17 |
5.29 |
8.16 |
9.06 |
10.50 |
8.12 |
2.87 |
1.67 |
Net Debt to EBITDA |
|
-0.57 |
1.80 |
4.20 |
4.60 |
7.28 |
7.80 |
6.84 |
6.01 |
-0.48 |
-1.46 |
Long-Term Debt to EBITDA |
|
0.48 |
2.43 |
5.17 |
5.29 |
8.16 |
9.06 |
10.50 |
8.12 |
2.87 |
1.67 |
Debt to NOPAT |
|
0.75 |
3.60 |
7.67 |
7.88 |
12.58 |
16.82 |
23.43 |
19.27 |
6.27 |
2.85 |
Net Debt to NOPAT |
|
-0.89 |
2.67 |
6.24 |
6.85 |
11.22 |
14.49 |
15.27 |
14.27 |
-1.04 |
-2.49 |
Long-Term Debt to NOPAT |
|
0.75 |
3.60 |
7.67 |
7.88 |
12.58 |
16.82 |
23.43 |
19.27 |
6.27 |
2.85 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
105 |
-79 |
-416 |
-412 |
-496 |
-237 |
126 |
154 |
374 |
299 |
Operating Cash Flow to CapEx |
|
1,256.76% |
1,359.21% |
1,165.45% |
176.63% |
462.69% |
432.93% |
1,351.26% |
-135.78% |
548.51% |
365.03% |
Free Cash Flow to Firm to Interest Expense |
|
22.92 |
-11.80 |
-37.20 |
-24.20 |
-23.09 |
-9.69 |
4.93 |
5.80 |
13.44 |
10.92 |
Operating Cash Flow to Interest Expense |
|
4.54 |
3.45 |
2.01 |
0.42 |
0.43 |
0.32 |
0.69 |
-0.09 |
0.37 |
0.42 |
Operating Cash Flow Less CapEx to Interest Expense |
|
4.18 |
3.20 |
1.84 |
0.18 |
0.34 |
0.25 |
0.64 |
-0.16 |
0.30 |
0.30 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
Fixed Asset Turnover |
|
2.00 |
2.19 |
2.38 |
2.26 |
2.13 |
1.93 |
1.76 |
1.76 |
1.79 |
1.84 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
345 |
509 |
790 |
751 |
845 |
745 |
670 |
602 |
477 |
454 |
Invested Capital Turnover |
|
0.38 |
0.35 |
0.30 |
0.31 |
0.26 |
0.22 |
0.18 |
0.19 |
0.20 |
0.23 |
Increase / (Decrease) in Invested Capital |
|
-91 |
95 |
431 |
417 |
500 |
235 |
-120 |
-149 |
-368 |
-290 |
Enterprise Value (EV) |
|
360 |
534 |
689 |
708 |
751 |
683 |
493 |
524 |
386 |
345 |
Market Capitalization |
|
396 |
400 |
335 |
354 |
292 |
344 |
291 |
348 |
401 |
406 |
Book Value per Share |
|
$12.81 |
$13.63 |
$14.83 |
$14.38 |
$14.17 |
$15.30 |
$15.60 |
$15.83 |
$16.77 |
$16.66 |
Tangible Book Value per Share |
|
$12.81 |
$13.63 |
$14.83 |
$14.38 |
$14.17 |
$15.30 |
$15.60 |
$15.83 |
$16.77 |
$16.66 |
Total Capital |
|
345 |
509 |
790 |
751 |
845 |
745 |
670 |
602 |
477 |
454 |
Total Debt |
|
30 |
181 |
435 |
407 |
514 |
393 |
311 |
238 |
90 |
70 |
Total Long-Term Debt |
|
30 |
181 |
435 |
407 |
514 |
393 |
311 |
238 |
90 |
70 |
Net Debt |
|
-36 |
134 |
354 |
354 |
459 |
339 |
202 |
176 |
-15 |
-61 |
Capital Expenditures (CapEx) |
|
1.66 |
1.70 |
1.93 |
4.05 |
2.00 |
1.82 |
1.31 |
1.81 |
1.88 |
3.14 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.57 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
30 |
181 |
435 |
407 |
514 |
393 |
311 |
238 |
90 |
70 |
Total Depreciation and Amortization (D&A) |
|
2.14 |
2.93 |
3.39 |
3.17 |
3.26 |
4.88 |
2.88 |
2.74 |
2.69 |
2.86 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.59 |
$0.64 |
$0.67 |
$0.24 |
$0.16 |
($0.07) |
$0.25 |
$0.21 |
$0.24 |
$0.36 |
Adjusted Weighted Average Basic Shares Outstanding |
|
24.27M |
24.60M |
23.77M |
23.51M |
22.95M |
23.24M |
22.77M |
22.83M |
22.83M |
22.82M |
Adjusted Diluted Earnings per Share |
|
$0.59 |
$0.64 |
$0.67 |
$0.24 |
$0.16 |
($0.07) |
$0.25 |
$0.21 |
$0.24 |
$0.36 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
24.27M |
24.60M |
23.77M |
23.51M |
22.95M |
23.24M |
22.77M |
22.83M |
22.83M |
22.82M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
24.11M |
23.92M |
23.94M |
23.33M |
22.96M |
23.02M |
23.02M |
23.07M |
23.07M |
23.13M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
14 |
16 |
16 |
5.70 |
3.63 |
-1.32 |
5.81 |
4.80 |
5.63 |
8.28 |
Normalized NOPAT Margin |
|
33.54% |
33.16% |
35.02% |
17.97% |
11.10% |
-4.31% |
17.36% |
14.28% |
16.45% |
23.99% |
Pre Tax Income Margin |
|
45.20% |
40.53% |
44.91% |
18.14% |
13.49% |
-6.16% |
21.62% |
17.62% |
20.54% |
30.95% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
4.22 |
2.85 |
1.84 |
0.34 |
0.21 |
-0.08 |
0.28 |
0.22 |
0.25 |
0.39 |
NOPAT to Interest Expense |
|
3.13 |
2.33 |
1.43 |
0.34 |
0.17 |
-0.05 |
0.23 |
0.18 |
0.20 |
0.30 |
EBIT Less CapEx to Interest Expense |
|
3.86 |
2.60 |
1.67 |
0.10 |
0.11 |
-0.16 |
0.23 |
0.16 |
0.19 |
0.28 |
NOPAT Less CapEx to Interest Expense |
|
2.77 |
2.08 |
1.25 |
0.10 |
0.08 |
-0.13 |
0.18 |
0.11 |
0.13 |
0.19 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
|
100.42% |
85.65% |
38.46% |
39.87% |
46.99% |
70.20% |
106.81% |
51.25% |
0.00% |
0.00% |
Key Financial Trends
Carter Bankshares (NASDAQ: CARE) has shown notable financial trends over the last four years through its quarterly statements from Q3 2022 through Q4 2024. Here's a breakdown of key financial performance highlights and trends that retail investors should consider:
- Net Interest Income Growth: Net interest income has generally increased from about $37.7 million in Q3 2022 to approximately $29.1 million in Q4 2024 per quarter, with some fluctuations. The bank is earning more from loans and leases interest income, which reached nearly $49.5 million in Q4 2024, up from $36.7 million in Q3 2022, reflecting growth in interest-earning assets.
- Increasing Net Income: Net income has improved from a loss of approximately $1.9 million in Q4 2023 to a positive $8.28 million in Q4 2024, showing solid profitability recovery and growth for the bank.
- Earnings Per Share (EPS) Improvement: Basic and diluted EPS rose from a negative $0.07 in Q4 2023 to $0.36 in Q4 2024, underlining improved profitability on a per-share basis, attractive for shareholders.
- Strong Operating Cash Flow: Net cash from operating activities showed positive figures, increasing from $7.87 million in Q4 2023 to $11.45 million in Q4 2024, indicating good cash generation capability from core operations.
- Growing Deposits: Deposits have increased substantially, with net changes in deposits being positive in recent quarters, which supports loan growth and liquidity.
- Investment in Property and Securities: The bank has consistently purchased property, leasehold improvements, equipment, and investment securities, which while supporting growth, has resulted in substantial cash outflows in investing activities (e.g., -$51.5 million in Q4 2023 to -$33.6 million in Q4 2024).
- Stable Total Assets: Total assets have generally grown steadily with some volatility, standing at about $4.61 billion in Q3 2024, indicating expansion of the balance sheet.
- Common Equity Growth: Common equity has increased over time, reaching nearly $386.8 million by Q3 2024, showing strengthened capital position but also representing significant shareholder equity investment.
- Rising Interest Expense on Long-Term Debt: Interest expense related to long-term debt has increased from $110k in Q3 2022 to $881k by Q4 2024 in quarterly results, indicating higher financing costs that could pressure net interest margins.
- Provision for Credit Losses Volatility: The provision for credit losses swung from a positive charge in earlier quarters (e.g., $3.57 million in Q4 2023) to a negative provision (benefit) of about -$5.07 million in Q4 2024, which could indicate volatility in loan loss expectations and impact earnings predictability.
Overall, Carter Bankshares demonstrates improved profitability, higher earnings per share, and stronger operating cash flow, supported by growth in net interest income and deposits. However, investors should be cautious of the volatility in credit loss provisions and rising interest expenses, which may affect future margins and earnings consistency.
10/21/25 07:18 PM ETAI Generated. May Contain Errors.