NASDAQ : CARE
Carter Bankshares, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 29.89 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 660.31M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 212.08M | 202.25M | 188.65M | 162.46M | 138.66M | 120.18M |
| Interest Income on Investments | 29.98M | 29.98M | 33.08M | 33.96M | 21.52M | 13.72M |
| Total Interest Income | 242.06M | 232.22M | 221.73M | 196.42M | 160.18M | 133.90M |
| Interest Paid on Deposits | 85.12M | 96.18M | 95.43M | 52.63M | 18.62M | 22.25M |
| Interest Paid on Borrowings | 5.22M | 5.22M | 11.84M | 21.48M | 1.64M | 468.00K |
| Total Interest Expense | 90.34M | 101.40M | 107.27M | 74.11M | 20.25M | 22.71M |
| Net Interest Income | 151.72M | 130.82M | 114.46M | 122.31M | 139.93M | 111.18M |
| Gain (Loss) on Sale of Assets | 73.00K | |||||
| Gain (Loss) on Sale of Investments | -12.40M | 46.00K | 68.00K | -1.52M | -575.00K | 5.16M |
| Other Non-Interest Income | 57.32M | 22.36M | 21.30M | 19.80M | 21.60M | 22.01M |
| Total Non-Interest Income | 109.91M | 22.40M | 21.37M | 18.28M | 21.10M | 27.17M |
| Revenues Before Loan Losses | 261.63M | 153.22M | 135.82M | 140.59M | 161.03M | 138.36M |
| Provision for Loan Losses | -24.60M | -3.83M | -5.05M | 6.40M | 2.93M | 2.08M |
| Revenue | 286.24M | 157.06M | 140.87M | 134.19M | 158.10M | 136.28M |
| Salaries and Employee Benefits | 59.09M | 55.57M | 55.96M | 54.59M | 51.09M | 53.12M |
| Occupancy Expenses | 18.12M | 17.37M | 15.48M | 13.98M | 13.53M | 13.56M |
| Federal Deposit Insurance | 3.25M | 5.84M | 6.20M | 4.90M | 2.02M | 2.16M |
| Selling, General & Administrative | 21.48M | 18.97M | 16.60M | 14.97M | 14.40M | 13.21M |
| Other Non-Interest Expense | 19.15M | 18.89M | 15.76M | 17.01M | 15.36M | 14.91M |
| Total Non-Interest Expense | 121.09M | 116.64M | 110.00M | 105.47M | 96.38M | 100.58M |
| EBT Excluding Unusual Items | 165.15M | 40.42M | 30.87M | 28.72M | 61.72M | 35.70M |
| Pretax Income | 164.73M | 40.00M | 30.87M | 28.72M | 61.72M | 35.70M |
| Income Tax Expense | 33.82M | 8.64M | 6.35M | 5.34M | 11.60M | 4.11M |
| Net Income | 130.91M | 31.36M | 24.52M | 23.38M | 50.12M | 31.59M |
| Preferred Dividends & Other Adjustments | 1.84M | 361.00K | 248.00K | 197.00K | 295.00K | 127.00K |
| Net Income to Common | 129.06M | 31.00M | 24.27M | 23.19M | 49.82M | 31.46M |
| Basic Shares Outstanding | 21.84M | 22.46M | 22.82M | 23.24M | 24.60M | 26.34M |
| Diluted Shares Outstanding | 21.84M | 22.46M | 22.82M | 23.24M | 24.60M | 26.34M |
| EPS (Basic) | 5.91 | 1.38 | 1.06 | 1.00 | 2.03 | 1.19 |
| EPS (Diluted) | 5.91 | 1.38 | 1.06 | 1.00 | 2.03 | 1.19 |
| Effective Tax Rate | 20.53% | 21.60% | 20.56% | 18.58% | 18.79% | 11.51% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 37.63M | 105.16M | 131.17M | 54.53M | 46.87M | 277.80M |
| Investment Securities | 720.25M | 414.43M | 441.24M | 465.30M | 498.89M | 551.33M |
| Trading Asset Securities | 10.18M | 17.36M | 17.44M | 22.97M | 3.51M | |
| Mortgage-Backed Securities | 287.97M | 288.30M | 313.70M | 337.38M | 371.07M | |
| Total Investments | 720.25M | 712.59M | 746.90M | 796.44M | 859.25M | 925.91M |
| Gross Loans | 3.77B | 3.88B | 3.62B | 3.51B | 3.15B | 2.81B |
| Allowance for Loan Losses | -53.55M | -71.49M | -75.60M | -97.05M | -93.85M | -95.94M |
| Net Loans | 3.72B | 3.81B | 3.55B | 3.41B | 3.06B | 2.72B |
| Property, Plant & Equipment | 69.04M | 82.53M | 84.18M | 81.11M | 78.42M | 78.60M |
| Goodwill | 1.19M | 1.19M | ||||
| Other Intangible Assets | 760.00K | 940.00K | ||||
| Loans Held for Sale | 339.00K | 228.00K | ||||
| Restricted Cash | 42.89M | |||||
| Other Real Estate Owned & Foreclosed | 1.23M | 142.00K | 659.00K | 2.46M | 8.39M | 10.92M |
| Other Long-Term Assets | 131.42M | 124.13M | 140.57M | 147.51M | 146.79M | 121.76M |
| Total Assets | 4.73B | 4.85B | 4.66B | 4.51B | 4.20B | 4.13B |
| Interest Bearing Deposits | 3.47B | 3.28B | 3.22B | 2.73B | 2.77B | 2.80B |
| Institutional Deposits | 310.72M | 297.94M | 304.97M | 159.03M | 147.10M | |
| Non-Interest Bearing Deposits | 647.59M | 620.47M | 634.44M | 685.22M | 705.54M | 747.91M |
| Total Deposits | 4.12B | 4.21B | 4.15B | 3.72B | 3.63B | 3.70B |
| Short-Term Borrowings | 10.09M | 17.71M | 17.23M | 40.41M | 3.68M | |
| Current Portion of Long-Term Debt | 138.50M | 7.00M | ||||
| Current Portion of Leases | 1.31M | |||||
| Federal Home Loan Bank Debt, Long-Term | 20.00M | 40.00M | 70.00M | 393.40M | 180.55M | |
| Long-Term Leases | 9.62M | 3.40M | ||||
| Other Long-Term Liabilities | 66.71M | 21.82M | 33.74M | 28.75M | 22.39M | 13.59M |
| Total Liabilities | 4.20B | 4.43B | 4.27B | 4.16B | 3.88B | 3.73B |
| Common Stock | 22.09M | 22.08M | 23.07M | 22.96M | 23.96M | 26.43M |
| Additional Paid-In Capital | 71.02M | 74.81M | 92.16M | 90.64M | 104.69M | 143.99M |
| Retained Earnings | 482.96M | 364.97M | 333.61M | 309.08M | 285.59M | 235.47M |
| Comprehensive Income & Other | -49.15M | -42.16M | -64.52M | -71.44M | -85.62M | 1.70M |
| Shareholders' Equity | 526.92M | 419.70M | 384.31M | 351.24M | 328.63M | 407.60M |
| Total Liabilities & Equity | 4.73B | 4.85B | 4.66B | 4.51B | 4.20B | 4.13B |
| Total Debt | 20.00M | 199.52M | 87.71M | 410.63M | 220.96M | 14.08M |
| Net Cash (Debt) | 38.83M | -84.17M | 60.82M | -338.66M | -151.12M | 267.23M |
| Net Cash Per Share | 1.78 | -3.75 | 2.67 | -14.57 | -6.14 | 10.14 |
| Filing Date Shares Outstanding | 22.09M | 22.16M | 23.13M | 23.02M | 23.92M | 25.36M |
| Total Common Shares Outstanding | 22.09M | 22.08M | 23.07M | 22.96M | 23.96M | 26.43M |
| Book Value Per Share | 23.85 | 19.01 | 16.66 | 15.30 | 13.72 | 15.42 |
| Tangible Book Value | 524.97M | 417.56M | 384.31M | 351.24M | 328.63M | 407.60M |
| Tangible Book Value Per Share | 23.76 | 18.91 | 16.66 | 15.30 | 13.72 | 15.42 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 31.36M | 24.52M | 23.38M | 50.12M | 31.59M | |
| Depreciation & Amortization | 8.02M | 7.05M | 6.25M | 6.44M | 6.46M | |
| Gain (Loss) on Sale of Assets | 150.00K | |||||
| Gain (Loss) on Sale of Investments | 2.98M | 3.50M | 8.09M | 5.10M | -2.16M | |
| Total Asset Writedown | 3.47M | |||||
| Provision for Credit Losses | -3.83M | -5.05M | 6.40M | 2.93M | 2.08M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -182.00K | 138.00K | 109.00K | 2.14M | 25.57M | |
| Change in Other Net Operating Assets | -1.98M | 1.83M | -1.43M | -722.00K | 5.61M | |
| Other Operating Activities | 1.58M | 3.33M | 2.47M | 3.88M | 4.08M | |
| Operating Cash Flow | 39.86M | 36.94M | 46.73M | 70.79M | 77.54M | |
| Capital Expenditures | -8.05M | -8.13M | -9.80M | -5.89M | -8.48M | |
| Sale of Property, Plant and Equipment | 408.00K | |||||
| Cash Acquisitions | 53.57M | |||||
| Investment in Securities | 52.25M | 56.28M | 67.29M | -31.16M | -159.40M | |
| Divestitures | -73.92M | |||||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -255.30M | -135.89M | -359.41M | -342.88M | 119.45M | |
| Other Investing Activities | 7.00K | 15.14M | -11.89M | -7.39M | 2.74M | |
| Investing Cash Flow | -155.91M | -68.40M | -307.01M | -382.07M | -106.36M | |
| Short-Term Debt Issued | 17.87M | |||||
| Long-Term Debt Issued | 610.00M | 1.87B | 3.44B | 300.55M | ||
| Total Debt Issued | 610.00M | 1.87B | 3.44B | 318.42M | ||
| Short-Term Debt Repaid | -17.87M | |||||
| Long-Term Debt Repaid | -501.50M | -2.19B | -3.23B | -127.00M | -28.00M | |
| Total Debt Repaid | -501.50M | -2.19B | -3.25B | -127.00M | -28.00M | |
| Net Debt Issued (Repaid) | 108.50M | -323.40M | 194.98M | 191.42M | -28.00M | |
| Repurchase of Common Stock | -20.00M | -16.42M | -42.93M | -157.00K | ||
| Net Increase (Decrease) in Deposit Accounts | 1.54M | 431.51M | 89.38M | -68.14M | 92.83M | |
| Financing Cash Flow | 90.04M | 108.11M | 267.94M | 80.35M | 64.67M | |
| Net Cash Flow | -26.01M | 76.64M | 7.66M | -230.93M | 35.86M | |
| Free Cash Flow | 31.81M | 28.80M | 36.93M | 64.90M | 69.05M | |
| Free Cash Flow Margin | 20.25% | 20.45% | 27.52% | 41.05% | 50.67% | |
| Free Cash Flow Per Share | 1.42 | 1.26 | 1.59 | 2.64 | 2.62 | |
| Cash Interest Paid | 102.65M | 106.34M | 69.12M | 19.34M | 23.47M | |
| Cash Income Tax Paid | 3.72M | 303.00K | 5.69M | 5.79M | 2.72M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 647.28M | 434.23M | 405.84M | 343.65M | 399.98M | 407.24M |
| Last Close Price | 29.00 | 19.53 | 17.47 | 14.87 | 16.48 | 15.29 |
| PE Ratio | 4.96 | 14.01 | 16.72 | 14.82 | 8.03 | 12.94 |
| PS Ratio | 2.24 | 2.77 | 2.88 | 2.56 | 2.53 | 2.99 |
| PB Ratio | 1.22 | 1.03 | 1.06 | 0.98 | 1.22 | 1.00 |
| P/FCF Ratio | 10.90 | 13.65 | 14.09 | 9.30 | 6.16 | 5.90 |
| P/OCF Ratio | 9.53 | 10.89 | 10.99 | 7.35 | 5.65 | 5.25 |
| Debt / Equity Ratio | 0.04 | 0.47 | 0.23 | 1.17 | 0.67 | 0.04 |
| Debt / FCF Ratio | 6.27 | 3.04 | 11.12 | 3.40 | 0.20 | |
| Net Debt / Equity Ratio | -0.07 | 0.20 | -0.16 | 0.96 | 0.46 | -0.66 |
| Net Debt / FCF Ratio | 2.65 | -2.11 | 9.17 | 2.33 | -3.87 | |
| Return on Equity (ROE) | 27.86% | 7.80% | 6.67% | 6.88% | 13.61% | 7.45% |
| Return on Assets (ROA) | 2.74% | 0.66% | 0.53% | 0.54% | 1.20% | 0.76% |
| Earnings Yield | 20.17% | 7.22% | 6.04% | 6.80% | 12.53% | 7.76% |
| FCF Yield | 9.17% | 7.32% | 7.10% | 10.75% | 16.23% | 16.96% |
| Buyback Yield / Dilution | 3.81% | 1.58% | 1.82% | 5.51% | 6.63% | 0.14% |
| Total Shareholder Return | 5.19% | 1.58% | 1.82% | 5.51% | 6.63% | 0.14% |