Carter Bankshares (CARE) Financials

$30.16 -0.31 (-1.02%)

Closing price 10/9/2026 04:00 PM Eastern

Extended Trading

$30.17 +0.01 (+0.03%)

As of 10/9/2026 04:38 PM Eastern

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.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	27	-46	32	50	23	25	31
Consolidated Net Income / (Loss)	27	-46	32	50	23	25	31
Net Income / (Loss) Continuing Operations	27	-46	32	50	23	25	31
Total Pre-Tax Income	28	-45	36	62	29	31	40
Total Revenue	130	132	140	162	141	136	153
Net Interest Income / (Expense)	112	105	111	140	122	114	131
Total Interest Income	159	141	134	160	196	222	232
Loans and Leases Interest Income	138	125	120	139	163	191	205
Investment Securities Interest Income	20	16	13	21	33	31	27
Deposits and Money Market Investments Interest Income	1.27	0.08	0.10	0.03	0.06	0.09	0.27
Total Interest Expense	47	36	23	20	74	107	101
Deposits Interest Expense	47	35	22	19	53	95	96
Long-Term Debt Interest Expense	0.12	0.43	0.47	1.45	21	12	5.22
Federal Funds Purchased and Securities Sold Interest Expense	0.00	0.00	0.00	0.19	0.37	0.00	0.00
Total Non-Interest Income	17	27	29	22	18	21	22
Trust Fees by Commissions	-	-	-	1.96	1.95	3.69	2.73
Other Service Charges	1.19	-	21	18	16	16	18
Net Realized & Unrealized Capital Gains on Investments	2.21	-	6.87	0.05	-1.52	0.07	0.05
Other Non-Interest Income	14	-	1.38	1.36	1.38	1.47	1.51
Provision for Credit Losses	3.40	18	2.08	2.93	6.40	-5.05	-3.83
Total Non-Interest Expense	98	159	102	97	105	110	117
Salaries and Employee Benefits	53	52	54	52	56	58	58
Net Occupancy & Equipment Expense	14	16	17	18	18	21	23
Marketing Expense	1.45	1.63	0.95	1.43	1.69	2.54	3.17
Property & Liability Insurance Claims	1.27	2.31	2.16	2.02	4.90	6.20	5.84
Other Operating Expenses	26	23	26	23	25	23	27
Income Tax Expense	1.21	0.77	4.11	12	5.34	6.35	8.64
Basic Earnings per Share	$1.01	($1.74)	$1.19	$2.03	$1.00	$1.06	$1.38
Weighted Average Basic Shares Outstanding	26.26M	26.38M	26.34M	24.60M	23.24M	22.82M	22.46M
Diluted Earnings per Share	$1.01	($1.74)	$1.19	$2.03	$1.00	$1.06	$1.38
Weighted Average Diluted Shares Outstanding	26.26M	26.38M	26.34M	24.60M	23.24M	22.82M	22.46M
Weighted Average Basic & Diluted Shares Outstanding	-	-	25.36M	23.92M	23.02M	23.13M	22.16M

This table shows Carter Bankshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.89	5.81	4.80	5.63	8.28	8.95	8.51	5.42	8.48	86	29
Consolidated Net Income / (Loss)	-1.89	5.81	4.80	5.63	8.28	8.95	8.51	5.42	8.48	86	29
Net Income / (Loss) Continuing Operations	-1.89	5.81	4.80	5.63	8.28	8.95	8.51	5.42	8.48	86	29
Total Pre-Tax Income	-1.89	7.23	5.92	7.03	11	11	11	7.15	11	110	37
Total Revenue	31	33	34	34	35	37	37	39	40	107	69
Net Interest Income / (Expense)	27	28	28	29	29	30	32	34	35	36	40
Total Interest Income	52	54	55	57	57	56	58	59	59	59	61
Loans and Leases Interest Income	43	46	46	49	50	49	51	52	53	53	54
Investment Securities Interest Income	8.56	8.19	8.09	7.54	6.97	6.83	7.00	6.88	6.45	5.89	5.84
Deposits and Money Market Investments Interest Income	0.03	0.01	0.03	0.04	0.01	0.05	0.07	0.06	0.10	0.11	1.19
Total Interest Expense	24	26	26	28	27	26	25	25	25	23	22
Deposits Interest Expense	18	21	23	26	26	25	24	24	23	22	21
Long-Term Debt Interest Expense	6.43	4.91	3.77	2.28	0.88	0.85	1.33	1.43	1.62	1.70	0.14
Total Non-Interest Income	3.25	5.05	5.53	5.42	5.37	6.90	4.91	5.37	5.23	71	29
Trust Fees by Commissions	0.40	0.61	0.93	1.06	1.07	0.34	-	1.00	0.67	0.95	0.16
Other Service Charges	4.01	4.08	4.20	3.98	3.88	6.22	4.55	4.01	4.06	4.50	4.69
Net Realized & Unrealized Capital Gains on Investments	-1.51	-	0.04	0.00	0.03	0.00	0.00	0.00	-	65	23
Other Non-Interest Income	0.35	0.35	0.37	0.38	0.39	0.34	0.36	0.36	0.46	0.44	0.46
Provision for Credit Losses	3.57	-0.03	0.26	-0.24	-5.08	-2.14	-2.67	3.23	-2.26	-34	1.46
Total Non-Interest Expense	29	26	27	27	29	28	29	29	31	31	30
Salaries and Employee Benefits	15	14	14	15	15	14	14	14	16	15	14
Net Occupancy & Equipment Expense	4.55	4.64	5.03	5.28	5.58	5.92	5.63	5.95	5.83	6.71	6.76
Marketing Expense	0.56	0.36	0.53	0.59	1.07	0.91	0.71	0.67	0.88	0.93	0.82
Other Operating Expenses	7.17	5.37	6.11	5.44	5.91	6.13	8.89	6.61	6.79	6.95	8.60
Income Tax Expense	-0.00	1.42	1.12	1.40	2.40	2.18	2.12	1.74	2.60	24	8.33
Basic Earnings per Share	($0.07)	$0.25	$0.21	$0.24	$0.36	$0.39	$0.37	$0.24	$0.38	$3.88	$1.31
Weighted Average Basic Shares Outstanding	23.24M	22.77M	22.83M	22.83M	22.82M	22.87M	22.81M	22.29M	22.46M	21.85M	21.84M
Diluted Earnings per Share	($0.07)	$0.25	$0.21	$0.24	$0.36	$0.39	$0.37	$0.24	$0.38	$3.88	$1.31
Weighted Average Diluted Shares Outstanding	23.24M	22.77M	22.83M	22.83M	22.82M	22.87M	22.81M	22.29M	22.46M	21.85M	21.84M
Weighted Average Basic & Diluted Shares Outstanding	23.02M	23.02M	23.07M	23.07M	23.13M	23.16M	22.67M	22.09M	22.16M	22.22M	22.16M

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	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-168	116	36	-231	7.66	77	-26
Net Cash From Operating Activities	38	7.70	78	71	47	37	40
Net Cash From Continuing Operating Activities	38	7.70	78	71	47	37	40
Net Income / (Loss) Continuing Operations	27	-46	32	50	23	25	31
Consolidated Net Income / (Loss)	27	-46	32	50	23	25	31
Provision For Loan Losses	3.40	18	2.08	2.93	6.40	-5.05	-3.83
Depreciation Expense	5.34	6.14	6.23	6.06	6.25	7.06	7.86
Amortization Expense	6.22	4.53	6.51	6.37	8.46	4.11	3.82
Non-Cash Adjustments to Reconcile Net Income	-16	49	24	4.68	2.29	2.87	0.98
Changes in Operating Assets and Liabilities, net	12	-24	6.99	0.64	-0.05	3.43	-0.33
Net Cash From Investing Activities	-129	-93	-106	-382	-307	-68	-156
Net Cash From Continuing Investing Activities	-129	-93	-106	-382	-307	-68	-156
Purchase of Property, Leasehold Improvements and Equipment	-8.45	-10	-8.48	-5.89	-9.80	-8.13	-8.06
Purchase of Investment Securities	-723	-354	-464	-486	-396	-146	-276
Sale and/or Maturity of Investments	601	271	440	109	99	86	121
Other Investing Activities, net	-	-	-	-	0.00	0.00	7.27
Net Cash From Financing Activities	-77	202	65	80	268	108	90
Net Cash From Continuing Financing Activities	-77	202	65	80	268	108	90
Net Change in Deposits	-87	180	93	-68	89	432	1.54
Issuance of Debt	10	25	0.00	301	3,442	1,870	610
Repayment of Debt	0.00	0.00	-28	-127	-3,229	-2,193	-502
Repurchase of Common Equity	0.00	0.00	-0.16	-43	-16	0.00	-20
Other Financing Activities, Net	-	0.00	0.00	18	-18	0.00	0.00
Cash Interest Paid	46	37	23	19	69	106	103
Cash Income Taxes Paid	0.22	0.42	2.72	5.79	5.69	0.30	3.72

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-0.87	54	-46	43	26	-42	11	7.04	-1.79	123	48
Net Cash From Operating Activities	7.88	18	-2.46	10	11	6.38	9.60	12	12	304	-261
Net Cash From Continuing Operating Activities	7.88	18	-2.46	10	11	6.38	9.60	12	12	304	-261
Net Income / (Loss) Continuing Operations	-1.89	5.81	4.80	5.63	8.28	8.95	8.51	5.42	8.48	86	29
Consolidated Net Income / (Loss)	-1.89	5.81	4.80	5.63	8.28	8.95	8.51	5.42	8.48	86	29
Provision For Loan Losses	3.48	-0.03	0.26	-0.24	-5.03	-2.14	-2.67	3.23	-2.26	-34	1.46
Depreciation Expense	1.56	1.67	1.75	1.79	1.84	1.91	1.94	1.97	2.04	2.13	2.15
Amortization Expense	3.32	1.21	0.99	0.89	1.02	1.04	1.00	0.95	0.84	0.69	13
Non-Cash Adjustments to Reconcile Net Income	1.97	0.27	-1.65	2.47	1.78	-0.40	0.72	-0.76	1.47	231	-314
Changes in Operating Assets and Liabilities, net	-0.57	8.70	-8.61	-0.23	3.57	-2.99	0.11	1.01	1.50	19	7.65
Net Cash From Investing Activities	-52	10	-22	-23	-34	-81	-13	-50	-11	-27	352
Net Cash From Continuing Investing Activities	-52	10	-22	-23	-34	-81	-13	-50	-11	-27	352
Purchase of Property, Leasehold Improvements and Equipment	-1.82	-1.31	-1.81	-1.88	-3.14	-1.52	-1.92	-1.54	-3.08	-1.54	-2.35
Purchase of Investment Securities	-107	-4.87	-54	-39	-48	-97	-26	-93	-59	-65	-121
Sale and/or Maturity of Investments	58	16	34	18	17	17	14	38	51	31	476
Other Investing Activities, net	-	-	-	-	-	0.61	-	-	-	8.35	-1.19
Net Cash From Financing Activities	43	26	-22	56	48	33	15	45	-2.42	-154	-43
Net Cash From Continuing Financing Activities	43	26	-22	56	48	33	15	45	-2.42	-154	-43
Net Change in Deposits	164	109	51	204	68	48	-35	-12	0.54	24	-38
Cash Interest Paid	24	25	26	28	27	27	25	25	25	24	22

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	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4,179	4,134	4,205	4,513	4,659	4,852
Cash and Due from Banks	202	278	47	55	131	93
Interest Bearing Deposits at Other Banks	40	-	-	-	-	12
Trading Account Securities	804	3,639	836	779	718	692
Loans and Leases, Net of Allowance	2,893	2,716	3,055	3,409	3,549	3,808
Loans and Leases	2,947	2,812	3,149	3,506	3,625	3,880
Allowance for Loan and Lease Losses	54	96	94	97	76	71
Premises and Equipment, Net	88	75	72	74	74	72
Goodwill	-	-	-	-	0.00	1.19
Intangible Assets	-	-	-	-	0.00	0.94
Other Assets	143	142	194	196	170	145
Total Liabilities & Shareholders' Equity	4,179	4,134	4,205	4,513	4,659	4,852
Total Liabilities	3,739	3,726	3,876	4,161	4,275	4,432
Non-Interest Bearing Deposits	699	748	706	685	634	620
Interest Bearing Deposits	2,985	2,951	2,927	3,037	3,519	3,590
Long-Term Debt	35	7.00	181	393	70	179
Other Long-Term Liabilities	19	21	43	43	48	40
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	440	408	329	351	384	420
Total Preferred & Common Equity	440	408	329	351	384	420
Total Common Equity	440	408	329	351	384	420
Common Stock	170	170	129	114	115	97
Retained Earnings	255	235	286	309	334	365
Accumulated Other Comprehensive Income / (Loss)	16	1.70	-86	-71	-65	-42

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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	4,366	4,384	4,452	4,555	4,533	4,613	4,700	4,784	4,840	4,799	4,802
Cash and Due from Banks	81	53	55	108	62	105	89	100	107	228	109
Interest Bearing Deposits at Other Banks	-	-	-	-	-	-	-	-	-	-	167
Trading Account Securities	863	822	793	769	746	743	745	755	728	662	641
Loans and Leases, Net of Allowance	3,154	3,236	3,316	3,413	3,453	3,515	3,614	3,676	3,762	3,676	3,679
Loans and Leases	3,249	3,330	3,411	3,509	3,550	3,596	3,687	3,747	3,836	3,728	3,735
Allowance for Loan and Lease Losses	95	94	94	97	97	81	74	71	74	53	55
Premises and Equipment, Net	72	75	74	73	73	73	74	72	72	71	70
Goodwill	-	-	-	-	-	-	-	1.19	1.19	1.19	1.19
Intangible Assets	-	-	-	-	-	-	-	1.07	1.01	0.87	0.81
Other Assets	194	198	213	192	193	172	168	168	159	141	112
Total Liabilities & Shareholders' Equity	4,366	4,384	4,452	4,555	4,533	4,613	4,700	4,784	4,840	4,799	4,802
Total Liabilities	4,011	4,040	4,122	4,196	4,168	4,227	4,299	4,378	4,427	4,294	4,263
Non-Interest Bearing Deposits	687	686	661	672	653	629	632	635	606	638	655
Interest Bearing Deposits	2,846	2,891	2,895	3,159	3,228	3,456	3,569	3,587	3,604	3,597	3,542
Long-Term Debt	435	407	514	311	238	90	55	114	176	0.00	0.00
Other Long-Term Liabilities	42	48	51	52	46	48	40	40	38	56	63
Commitments & Contingencies	-	-	-	-	-	-	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	355	344	331	359	364	387	402	406	413	505	539
Total Preferred & Common Equity	355	344	331	359	364	387	402	406	413	505	539
Total Common Equity	355	344	331	359	364	387	402	406	413	505	539
Common Stock	127	119	113	114	114	115	116	107	102	97	95
Retained Earnings	302	307	311	315	320	325	343	351	356	451	477
Accumulated Other Comprehensive Income / (Loss)	-73	-82	-94	-70	-70	-53	-56	-52	-46	-43	-33

This table displays calculated financial ratios and metrics derived from Carter Bankshares' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	26,461,426.00	-	-	-	22,087,044.00
DEI Adjusted Shares Outstanding	0.00	0.00	26,461,426.00	-	-	-	22,087,044.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	1.19	-	-	-	1.42
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	1.33%	6.35%	15.41%	-13.03%	-3.39%	12.81%
EBITDA Growth	0.00%	-185.86%	240.73%	53.10%	-41.44%	-3.20%	22.95%
EBIT Growth	0.00%	-258.03%	179.18%	72.89%	-53.46%	7.48%	29.58%
NOPAT Growth	0.00%	-218.76%	200.09%	58.65%	-53.34%	4.87%	27.89%
Net Income Growth	0.00%	-272.56%	168.89%	58.65%	-53.34%	4.87%	27.89%
EPS Growth	0.00%	-272.28%	168.39%	70.59%	-50.74%	6.00%	30.19%
Operating Cash Flow Growth	0.00%	-79.88%	906.46%	-8.70%	-33.99%	-20.95%	7.92%
Free Cash Flow Firm Growth	0.00%	0.00%	118.19%	-148.24%	-376.99%	248.46%	-135.74%
Invested Capital Growth	0.00%	0.00%	-12.75%	22.81%	46.24%	-38.99%	31.67%
Revenue Q/Q Growth	0.00%	0.00%	-1.78%	8.92%	-10.45%	2.92%	3.59%
EBITDA Q/Q Growth	0.00%	0.00%	0.23%	18.02%	-31.11%	34.06%	0.84%
EBIT Q/Q Growth	0.00%	0.00%	-2.21%	24.24%	-42.88%	69.89%	1.01%
NOPAT Q/Q Growth	0.00%	0.00%	9.22%	24.92%	-42.80%	70.83%	0.64%
Net Income Q/Q Growth	0.00%	0.00%	9.22%	24.92%	-42.80%	70.83%	0.64%
EPS Q/Q Growth	0.00%	0.00%	8.18%	27.67%	-41.52%	68.25%	1.47%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-1.74%	8.55%	-24.57%	10.72%	1.58%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-133.90%	53.80%	-17.64%	-40.04%
Invested Capital Q/Q Growth	0.00%	0.00%	-4.88%	47.67%	-11.85%	-4.72%	1.68%
Profitability Metrics	-	-	-	-	-	-	-
EBITDA Margin	30.84%	-26.13%	34.58%	45.87%	30.89%	30.95%	33.73%
EBIT Margin	21.95%	-34.24%	25.49%	38.18%	20.43%	22.73%	26.11%
Profit (Net Income) Margin	20.45%	-34.82%	22.55%	31.00%	16.63%	18.05%	20.47%
Tax Burden Percent	95.65%	101.71%	88.49%	81.21%	81.42%	79.44%	78.40%
Interest Burden Percent	97.39%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	4.35%	0.00%	11.51%	18.79%	18.58%	20.56%	21.60%
Return on Invested Capital (ROIC)	0.00%	-13.28%	7.10%	10.85%	3.73%	4.09%	5.96%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-94.99%	7.10%	10.85%	3.73%	4.09%	5.96%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-7.55%	0.35%	2.76%	3.15%	2.58%	1.84%
Return on Equity (ROE)	0.00%	-20.84%	7.45%	13.61%	6.88%	6.67%	7.80%
Cash Return on Invested Capital (CROIC)	0.00%	-213.28%	20.72%	-9.63%	-33.83%	52.52%	-21.38%
Operating Return on Assets (OROA)	0.00%	-1.08%	0.86%	1.48%	0.66%	0.67%	0.84%
Return on Assets (ROA)	0.00%	-1.10%	0.76%	1.20%	0.54%	0.53%	0.66%
Return on Common Equity (ROCE)	0.00%	-20.84%	7.45%	13.61%	6.88%	6.67%	7.80%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-10.42%	7.75%	15.25%	6.66%	6.38%	7.47%
Net Operating Profit after Tax (NOPAT)	27	-32	32	50	23	25	31
NOPAT Margin	20.45%	-23.96%	22.55%	31.00%	16.63%	18.05%	20.47%
Net Nonoperating Expense Percent (NNEP)	0.00%	81.70%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	52.61%	53.18%	51.71%	44.18%	53.70%	59.62%	54.97%
Operating Expenses to Revenue	75.43%	120.56%	73.03%	60.01%	75.02%	80.99%	76.39%
Earnings before Interest and Taxes (EBIT)	29	-45	36	62	29	31	40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	40	-34	48	74	43	42	52
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.00	1.22	0.98	1.06	1.03
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.00	1.22	0.98	1.06	1.04
Price to Revenue (P/Rev)	0.00	0.00	2.91	2.47	2.44	2.99	2.83
Price to Earnings (P/E)	0.00	0.00	12.89	7.98	14.70	16.55	13.85
Dividend Yield	0.00%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	7.76%	12.53%	6.80%	6.04%	7.22%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.33	1.05	0.92	0.76	0.85
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.97	3.30	4.85	2.54	3.31
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	2.82	7.20	15.72	8.20	9.82
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	3.82	8.65	23.76	11.17	12.69
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	4.32	10.65	29.19	14.05	16.18
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	1.76	7.54	14.61	9.33	12.73
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	1.48	0.00	0.00	1.09	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.08	0.02	0.55	1.12	0.18	0.43
Long-Term Debt to Equity	0.00	0.08	0.02	0.55	1.12	0.18	0.43
Financial Leverage	0.00	0.08	0.05	0.25	0.84	0.63	0.31
Leverage Ratio	0.00	9.49	9.81	11.33	12.82	12.47	11.83
Compound Leverage Factor	0.00	9.49	9.81	11.33	12.82	12.47	11.83
Debt to Total Capital	0.00%	7.37%	1.69%	35.46%	52.83%	15.41%	29.84%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	7.37%	1.69%	35.46%	52.83%	15.41%	29.84%
Preferred Equity to Total Capital	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%
Common Equity to Total Capital	0.00%	92.63%	98.31%	64.54%	47.17%	84.59%	70.16%
Debt to EBITDA	0.00	-1.02	0.14	2.43	9.06	1.67	3.45
Net Debt to EBITDA	0.00	6.01	-5.59	1.80	7.80	-1.46	1.42
Long-Term Debt to EBITDA	0.00	-1.02	0.14	2.43	9.06	1.67	3.45
Debt to NOPAT	0.00	-1.11	0.22	3.60	16.82	2.85	5.69
Net Debt to NOPAT	0.00	6.56	-8.57	2.67	14.49	-2.49	2.34
Long-Term Debt to NOPAT	0.00	-1.11	0.22	3.60	16.82	2.85	5.69
Noncontrolling Interest Sharing Ratio	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)	0.00	-507	92	-44	-212	315	-113
Operating Cash Flow to CapEx	523.18%	75.98%	913.93%	1,291.34%	476.93%	454.17%	494.87%
Free Cash Flow to Firm to Interest Expense	0.00	-14.14	4.06	-2.20	-2.86	2.94	-1.11
Operating Cash Flow to Interest Expense	0.82	0.22	3.41	3.50	0.63	0.34	0.39
Operating Cash Flow Less CapEx to Interest Expense	0.66	-0.07	3.04	3.22	0.50	0.27	0.31
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.03	0.03	0.04	0.03	0.03	0.03
Fixed Asset Turnover	0.00	1.50	1.72	2.19	1.93	1.84	2.09
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	475	415	509	745	454	598
Invested Capital Turnover	0.00	0.55	0.31	0.35	0.22	0.23	0.29
Increase / (Decrease) in Invested Capital	0.00	475	-61	95	235	-290	144
Enterprise Value (EV)	0.00	0.00	136	534	683	345	508
Market Capitalization	0.00	0.00	407	400	344	406	434
Book Value per Share	$0.00	$16.69	$15.40	$13.63	$15.30	$16.66	$19.00
Tangible Book Value per Share	$0.00	$16.69	$15.40	$13.63	$15.30	$16.66	$18.91
Total Capital	0.00	475	415	509	745	454	598
Total Debt	0.00	35	7.00	181	393	70	179
Total Long-Term Debt	0.00	35	7.00	181	393	70	179
Net Debt	0.00	-207	-271	134	339	-61	73
Capital Expenditures (CapEx)	7.32	10	8.48	5.48	9.80	8.13	8.06
Net Nonoperating Expense (NNE)	0.00	14	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	0.00	35	7.00	181	393	70	179
Total Depreciation and Amortization (D&A)	12	11	13	12	15	11	12
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.19	$2.03	$1.00	$1.06	$1.38
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	26.34M	24.60M	23.24M	22.82M	22.46M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.19	$2.03	$1.00	$1.06	$1.38
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	26.34M	24.60M	23.24M	22.82M	22.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	25.36M	23.92M	23.02M	23.13M	22.16M
Normalized Net Operating Profit after Tax (NOPAT)	27	12	32	50	23	25	31
Normalized NOPAT Margin	20.45%	9.09%	22.55%	31.00%	16.63%	18.05%	20.47%
Pre Tax Income Margin	21.38%	-34.24%	25.49%	38.18%	20.43%	22.73%	26.11%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.61	-1.26	1.57	3.05	0.39	0.29	0.39
NOPAT to Interest Expense	0.57	-0.88	1.39	2.47	0.32	0.23	0.31
EBIT Less CapEx to Interest Expense	0.45	-1.54	1.20	2.78	0.26	0.21	0.32
NOPAT Less CapEx to Interest Expense	0.41	-1.16	1.02	2.20	0.18	0.15	0.23
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-8.04%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-8.04%	0.50%	85.65%	70.20%	0.00%	63.77%

This table displays calculated financial ratios and metrics derived from Carter Bankshares' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	23,130,924.00	23,159,013.00	22,669,834.00	22,087,044.00	22,164,453.00	22,222,010.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	23,130,924.00	23,159,013.00	22,669,834.00	22,087,044.00	22,164,453.00	22,222,010.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	0.39	0.37	0.24	0.38	3.87	1.30
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-34.85%	-26.49%	5.94%	4.76%	12.56%	10.68%	10.83%	14.23%	15.39%	188.64%	84.29%
EBITDA Growth	-86.79%	-57.91%	-2.97%	26.73%	367.32%	39.27%	56.53%	3.61%	3.16%	701.25%	286.25%
EBIT Growth	-110.34%	-64.97%	2.88%	59.47%	643.64%	53.94%	79.41%	1.79%	3.74%	888.07%	250.38%
NOPAT Growth	-108.47%	-63.55%	-15.80%	55.20%	726.18%	54.07%	77.18%	-3.73%	2.42%	857.86%	239.73%
Net Income Growth	-112.10%	-63.55%	-15.80%	55.20%	538.56%	54.07%	77.18%	-3.73%	2.42%	857.86%	239.73%
EPS Growth	-110.94%	-62.69%	-12.50%	50.00%	614.29%	56.00%	76.19%	0.00%	5.56%	894.87%	254.05%
Operating Cash Flow Growth	-65.90%	-21.40%	-134.36%	11.32%	45.41%	-63.84%	490.36%	14.58%	5.42%	4,666.55%	-2,814.30%
Free Cash Flow Firm Growth	-199.84%	130.39%	137.36%	175.27%	226.11%	75.63%	-40.31%	-128.40%	-145.34%	-83.03%	-90.30%
Invested Capital Growth	46.24%	-15.25%	-19.83%	-43.55%	-38.99%	-31.78%	-13.82%	23.39%	31.67%	10.54%	3.85%
Revenue Q/Q Growth	-6.12%	9.13%	0.48%	1.77%	0.87%	7.31%	0.62%	4.89%	1.89%	168.42%	-35.76%
EBITDA Q/Q Growth	-62.07%	246.41%	-13.96%	12.12%	39.85%	4.00%	-3.71%	-25.79%	38.80%	707.79%	-53.58%
EBIT Q/Q Growth	-144.77%	464.47%	-17.62%	18.64%	52.62%	4.24%	-4.56%	-32.69%	54.92%	892.79%	-66.16%
NOPAT Q/Q Growth	-136.46%	539.46%	-17.35%	17.20%	47.10%	8.13%	-4.95%	-36.32%	56.49%	911.29%	-66.29%
Net Income Q/Q Growth	-152.05%	407.79%	-17.35%	17.20%	47.10%	8.13%	-4.95%	-36.32%	56.49%	911.29%	-66.29%
EPS Q/Q Growth	-143.75%	457.14%	-16.00%	14.29%	50.00%	8.33%	-5.13%	-35.14%	58.33%	921.05%	-66.24%
Operating Cash Flow Q/Q Growth	-14.98%	123.92%	-113.94%	519.36%	11.05%	-44.32%	50.55%	23.09%	2.18%	2,417.52%	-185.73%
Free Cash Flow Firm Q/Q Growth	52.29%	153.32%	21.78%	142.94%	-20.06%	-25.74%	-58.61%	-215.59%	-27.63%	127.78%	-76.34%
Invested Capital Q/Q Growth	-11.85%	-10.08%	-10.03%	-20.85%	-4.72%	0.54%	13.65%	13.33%	1.68%	-15.60%	6.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	9.48%	30.09%	25.77%	28.39%	39.36%	38.02%	36.39%	25.75%	35.07%	105.56%	76.27%
EBIT Margin	-6.43%	21.49%	17.62%	20.54%	31.08%	30.07%	28.52%	18.30%	27.83%	102.92%	54.22%
Profit (Net Income) Margin	-6.16%	17.36%	14.28%	16.45%	23.99%	24.17%	22.84%	13.86%	21.29%	80.22%	42.10%
Tax Burden Percent	99.95%	80.33%	81.08%	80.09%	77.51%	80.40%	80.07%	75.75%	76.51%	77.94%	77.64%
Interest Burden Percent	95.74%	100.60%	100.00%	100.00%	99.60%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	19.67%	18.92%	19.91%	22.49%	19.60%	19.93%	24.25%	23.49%	22.06%	22.36%
Return on Invested Capital (ROIC)	-0.97%	3.06%	2.75%	3.29%	5.44%	5.98%	5.82%	3.85%	6.20%	37.22%	20.25%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.16%	3.06%	2.75%	3.29%	5.44%	5.98%	5.82%	3.85%	6.20%	37.22%	20.25%
Return on Net Nonoperating Assets (RNNOA)	-0.98%	3.19%	2.51%	2.77%	3.42%	2.87%	2.66%	1.28%	1.92%	2.26%	2.43%
Return on Equity (ROE)	-1.95%	6.25%	5.26%	6.05%	8.86%	8.86%	8.48%	5.13%	8.12%	39.48%	22.68%
Cash Return on Invested Capital (CROIC)	-33.83%	18.32%	23.83%	57.85%	52.52%	42.70%	20.44%	-15.09%	-21.38%	12.48%	20.52%
Operating Return on Assets (OROA)	-0.21%	0.62%	0.52%	0.60%	0.92%	0.91%	0.88%	0.57%	0.90%	4.83%	2.88%
Return on Assets (ROA)	-0.20%	0.50%	0.42%	0.48%	0.71%	0.73%	0.70%	0.43%	0.69%	3.77%	2.24%
Return on Common Equity (ROCE)	-1.95%	6.25%	5.26%	6.05%	8.86%	8.86%	8.48%	5.13%	8.12%	39.48%	22.68%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.69%	3.39%	3.71%	0.00%	6.89%	7.73%	7.55%	0.00%	21.42%	23.85%
Net Operating Profit after Tax (NOPAT)	-1.32	5.81	4.80	5.63	8.28	8.95	8.51	5.42	8.48	86	29
NOPAT Margin	-4.31%	17.36%	14.28%	16.45%	23.99%	24.17%	22.84%	13.86%	21.29%	80.22%	42.10%
Net Nonoperating Expense Percent (NNEP)	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	64.26%	57.36%	58.80%	59.82%	62.40%	55.30%	54.78%	52.81%	56.97%	21.10%	31.50%
Operating Expenses to Revenue	94.81%	78.46%	81.62%	80.17%	83.63%	75.71%	78.63%	73.43%	77.84%	29.01%	43.66%
Earnings before Interest and Taxes (EBIT)	-1.97	7.19	5.92	7.03	11	11	11	7.15	11	110	37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2.91	10	8.66	9.71	14	14	14	10	14	113	52
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.98	0.81	0.95	1.04	1.06	0.93	0.99	1.07	1.03	1.02	1.40
Price to Tangible Book Value (P/TBV)	0.98	0.81	0.95	1.04	1.06	0.93	1.00	1.07	1.04	1.03	1.41
Price to Revenue (P/Rev)	2.44	2.26	2.67	3.04	2.99	2.68	2.81	2.97	2.83	2.32	2.97
Price to Earnings (P/E)	14.70	21.96	28.17	27.95	16.55	13.53	12.80	14.12	13.85	4.78	5.88
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.29%
Earnings Yield	6.80%	4.55%	3.55%	3.58%	6.04%	7.39%	7.81%	7.08%	7.22%	20.93%	17.01%
Enterprise Value to Invested Capital (EV/IC)	0.92	0.74	0.87	0.81	0.76	0.74	0.80	0.86	0.85	0.57	0.89
Enterprise Value to Revenue (EV/Rev)	4.85	3.84	4.02	2.93	2.54	2.44	2.90	3.44	3.31	1.29	1.88
Enterprise Value to EBITDA (EV/EBITDA)	15.72	16.69	17.89	12.32	8.20	7.40	8.16	9.92	9.82	1.92	2.53
Enterprise Value to EBIT (EV/EBIT)	23.76	32.07	33.72	21.26	11.17	9.79	10.52	12.84	12.69	2.08	2.90
Enterprise Value to NOPAT (EV/NOPAT)	29.19	37.23	42.44	26.91	14.05	12.30	13.23	16.32	16.18	2.67	3.73
Enterprise Value to Operating Cash Flow (EV/OCF)	14.61	11.77	16.22	11.58	9.33	13.25	11.00	12.96	12.73	0.86	7.13
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	3.69	3.25	1.01	1.09	1.42	3.62	0.00	0.00	4.81	4.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.12	0.86	0.65	0.23	0.18	0.14	0.28	0.43	0.43	0.00	0.00
Long-Term Debt to Equity	1.12	0.86	0.65	0.23	0.18	0.14	0.28	0.43	0.43	0.00	0.00
Financial Leverage	0.84	1.04	0.91	0.84	0.63	0.48	0.46	0.33	0.31	0.06	0.12
Leverage Ratio	12.82	12.49	12.58	12.64	12.47	12.16	12.10	11.82	11.83	10.48	10.15
Compound Leverage Factor	12.28	12.57	12.58	12.64	12.42	12.16	12.10	11.82	11.83	10.48	10.15
Debt to Total Capital	52.83%	46.37%	39.51%	18.87%	15.41%	12.04%	21.86%	29.83%	29.84%	0.00%	0.00%
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%	0.00%
Long-Term Debt to Total Capital	52.83%	46.37%	39.51%	18.87%	15.41%	12.04%	21.86%	29.83%	29.84%	0.00%	0.00%
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%	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%	0.00%
Common Equity to Total Capital	47.17%	53.63%	60.49%	81.13%	84.59%	87.96%	78.14%	70.17%	70.16%	100.00%	100.00%
Debt to EBITDA	9.06	10.50	8.12	2.87	1.67	1.20	2.23	3.42	3.45	0.00	0.00
Net Debt to EBITDA	7.80	6.84	6.01	-0.48	-1.46	-0.74	0.27	1.34	1.42	0.00	0.00
Long-Term Debt to EBITDA	9.06	10.50	8.12	2.87	1.67	1.20	2.23	3.42	3.45	0.00	0.00
Debt to NOPAT	16.82	23.43	19.27	6.27	2.85	1.99	3.62	5.63	5.69	0.00	0.00
Net Debt to NOPAT	14.49	15.27	14.27	-1.04	-2.49	-1.23	0.43	2.20	2.34	0.00	0.00
Long-Term Debt to NOPAT	16.82	23.43	19.27	6.27	2.85	1.99	3.62	5.63	5.69	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	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)	-237	126	154	374	299	222	92	-106	-135	38	8.90
Operating Cash Flow to CapEx	432.93%	1,351.26%	-135.78%	548.51%	365.03%	418.65%	500.73%	767.71%	392.46%	19,773.26%	-11,096.51%
Free Cash Flow to Firm to Interest Expense	-9.69	4.93	5.80	13.44	10.92	8.57	3.62	-4.17	-5.48	1.62	0.41
Operating Cash Flow to Interest Expense	0.32	0.69	-0.09	0.37	0.42	0.25	0.38	0.46	0.49	13.07	-12.10
Operating Cash Flow Less CapEx to Interest Expense	0.25	0.64	-0.16	0.30	0.30	0.19	0.30	0.40	0.36	13.00	-12.20
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.05	0.05
Fixed Asset Turnover	1.93	1.76	1.76	1.79	1.84	1.89	1.97	2.04	2.09	3.08	3.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	745	670	602	477	454	457	519	588	598	505	539
Invested Capital Turnover	0.22	0.18	0.19	0.20	0.23	0.25	0.26	0.28	0.29	0.46	0.48
Increase / (Decrease) in Invested Capital	235	-120	-149	-368	-290	-213	-83	112	144	48	20
Enterprise Value (EV)	683	493	524	386	345	340	415	509	508	289	479
Market Capitalization	344	291	348	401	406	374	402	440	434	517	756
Book Value per Share	$15.30	$15.60	$15.83	$16.77	$16.66	$17.37	$17.52	$18.21	$19.00	$22.78	$24.26
Tangible Book Value per Share	$15.30	$15.60	$15.83	$16.77	$16.66	$17.37	$17.42	$18.11	$18.91	$22.69	$24.17
Total Capital	745	670	602	477	454	457	519	588	598	505	539
Total Debt	393	311	238	90	70	55	114	176	179	0.00	0.00
Total Long-Term Debt	393	311	238	90	70	55	114	176	179	0.00	0.00
Net Debt	339	202	176	-15	-61	-34	14	69	73	-228	-277
Capital Expenditures (CapEx)	1.82	1.31	1.81	1.88	3.14	1.52	1.92	1.54	3.08	1.54	2.35
Net Nonoperating Expense (NNE)	0.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	393	311	238	90	70	55	114	176	179	0.00	0.00
Total Depreciation and Amortization (D&A)	4.88	2.88	2.74	2.69	2.86	2.95	2.93	2.91	2.89	2.82	15
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.07)	$0.25	$0.21	$0.24	$0.36	$0.39	$0.37	$0.24	$0.38	$3.88	$1.31
Adjusted Weighted Average Basic Shares Outstanding	23.24M	22.77M	22.83M	22.83M	22.82M	22.87M	22.81M	22.29M	22.46M	21.85M	21.84M
Adjusted Diluted Earnings per Share	($0.07)	$0.25	$0.21	$0.24	$0.36	$0.39	$0.37	$0.24	$0.38	$3.88	$1.31
Adjusted Weighted Average Diluted Shares Outstanding	23.24M	22.77M	22.83M	22.83M	22.82M	22.87M	22.81M	22.29M	22.46M	21.85M	21.84M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	23.02M	23.02M	23.07M	23.07M	23.13M	23.16M	22.67M	22.09M	22.16M	22.22M	22.16M
Normalized Net Operating Profit after Tax (NOPAT)	-1.32	5.81	4.80	5.63	8.28	8.95	8.51	5.42	8.48	86	29
Normalized NOPAT Margin	-4.31%	17.36%	14.28%	16.45%	23.99%	24.17%	22.84%	13.86%	21.29%	80.22%	42.10%
Pre Tax Income Margin	-6.16%	21.62%	17.62%	20.54%	30.95%	30.07%	28.52%	18.30%	27.83%	102.92%	54.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.08	0.28	0.22	0.25	0.39	0.43	0.42	0.28	0.45	4.73	1.73
NOPAT to Interest Expense	-0.05	0.23	0.18	0.20	0.30	0.35	0.34	0.21	0.34	3.69	1.34
EBIT Less CapEx to Interest Expense	-0.16	0.23	0.16	0.19	0.28	0.37	0.34	0.22	0.32	4.67	1.62
NOPAT Less CapEx to Interest Expense	-0.13	0.18	0.11	0.13	0.19	0.29	0.26	0.15	0.22	3.62	1.23
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%	0.00%
Augmented Payout Ratio	70.20%	106.81%	51.25%	0.00%	0.00%	0.00%	29.13%	45.06%	63.77%	0.00%	10.69%

Financials Breakdown Chart

Key Financial Trends

Carter Bankshares’ (NASDAQ: CARE) latest results show improving core banking trends, but quarterly earnings remain volatile. In Q2 2026, net interest income increased to $40.0 million from $32.4 million in Q2 2025 and $35.9 million in Q1 2026. The improvement reflects higher loan interest income and lower interest expense, including a sharp decline in long-term debt interest expense. Net interest income has generally recovered from the $27 million–$29 million range seen during much of 2023 and 2024.

Reported net income was $28.9 million, or $1.31 per diluted share, in Q2 2026, compared with $8.5 million, or $0.37 per share, in Q2 2025. However, the comparison is affected by investment gains and unusual credit-loss adjustments. Q2 included $23.4 million of net realized and unrealized investment gains, while Q1 2026 included $65.1 million of gains and a $34.1 million credit-loss benefit. This suggests that reported earnings are stronger than in prior years, but not all of the recent improvement is coming from recurring banking operations.

The balance sheet has also strengthened. Net loans increased modestly to $3.68 billion from $3.62 billion in Q1 2025, while the allowance for loan losses declined to $55.2 million from $71.0 million in Q2 2025. Total common equity rose to $539.1 million from $405.6 million over the same period, helped by retained earnings and a less negative accumulated other comprehensive income balance. Still, Q2 operating cash flow was negative $260.5 million, and the quarter’s positive cash change depended heavily on proceeds from investment security sales and maturities.

Core net interest income is trending higher: Q2 2026 net interest income of $40.0 million was approximately 24% above Q2 2025 and the highest level in the supplied quarterly data since at least 2022.
Loan interest income continues to grow: Loan and lease interest income rose to $54.5 million in Q2 2026 from $50.7 million in Q2 2025 and $45.8 million in Q1 2024.
Credit reserves have declined: The allowance for loan and lease losses fell to $55.2 million from $71.0 million a year earlier, while net loans remained broadly stable, indicating improved credit-loss expectations.
Capital has improved materially: Total common equity reached $539.1 million in Q2 2026, up from $405.6 million in Q2 2025. Equity represented roughly 11% of total assets at the latest quarter.
Non-interest expenses remain relatively controlled: Q2 2026 non-interest expense was $30.0 million, close to $29.3 million in Q2 2025 and below $31.0 million in Q1 2026.
Loan growth is modest: Gross loans and leases were $3.73 billion in Q2 2026 versus $3.75 billion in Q2 2025, suggesting a stable loan base rather than rapid balance-sheet expansion.
Investment activity is significant: Carter purchased $121.3 million of investment securities and sold or received maturities totaling $476.4 million in Q2 2026. This generated substantial liquidity, but the level of activity may vary considerably from quarter to quarter.
Operating cash flow was sharply negative: Q2 2026 operating cash flow was negative $260.5 million, compared with positive cash flow of $303.9 million in Q1 2026 and $9.6 million in Q2 2025. The result was heavily affected by a $313.7 million non-cash adjustment.
Deposit balances declined during the quarter: Net deposits fell by $37.7 million in Q2 2026, and interest-bearing deposits declined from $3.60 billion in Q1 to $3.54 billion in Q2. Continued deposit pressure could raise funding costs or limit loan growth.
Earnings quality remains volatile: Recent profits have been materially influenced by investment gains and unusual provision benefits. Q2 2026’s $23.4 million investment gain and Q1 2026’s $34.1 million credit-loss benefit may not be repeatable.

10/10/26 02:50 PM ETAI Generated. May Contain Errors.

Carter Bankshares Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Carter Bankshares' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Carter Bankshares' net income appears to be on an upward trend, with a most recent value of $31.36 million in 2025, rising from $26.58 million in 2019. The previous period was $24.52 million in 2024. View Carter Bankshares' forecast to see where analysts expect Carter Bankshares to go next.

Over the last 6 years, Carter Bankshares' total revenue changed from $129.96 million in 2019 to $153.22 million in 2025, a change of 17.9%.

In the past 13 quarters, Carter Bankshares' cash and equivalents has ranged from $53.28 million in Q2 2023 to $228.32 million in Q1 2026, and is currently $109.11 million as of their latest financial filing in Q2 2026.

Carter Bankshares had total debt of $178.50 million at the end of 2025, a 155.0% increase from 2024, and none in 2019.

Over the last 6 years, Carter Bankshares' book value per share changed from 0.00 in 2019 to 19.00 in 2025, a change of 1,900.2%.

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Financial statements for NASDAQ:CARE last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Carter Bankshares (CARE) Financials

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Carter Bankshares (CARE) Financials

Annual Income Statements for Carter Bankshares

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Quarterly Cash Flow Statements for Carter Bankshares

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Quarterly Balance Sheets for Carter Bankshares

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Quarterly Metrics And Ratios for Carter Bankshares

Financials Breakdown Chart

Key Financial Trends

Carter Bankshares Financials - Frequently Asked Questions

When does Carter Bankshares' fiscal year end?

How has Carter Bankshares' net income changed over the last 6 years?

How has Carter Bankshares' revenue changed over the last 6 years?

How much cash does Carter Bankshares have?

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How has Carter Bankshares' book value per share changed over the last 6 years?

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