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Carter Bankshares, Inc.

Carter Bankshares, Inc.

NASDAQ•CARE
CEO: Mr. Litz H. Van Dyke
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 2007-03-15
Carter Bankshares, Inc. operates as the bank holding company for Carter Bank & Trust that provides various banking products and services in the United States. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as certificates of deposit. The company also offers commercial loans comprising secured and unsecured loans; consumer loans, such as secured and unsecured loans for financing automobiles, home improvements, education, overdraft protection, and personal investments, as well as residential mortgages; real estate construction, acquisition, commercial, and industrial loans; home equity lines of credit; and credit cards, as well as originates and holds fixed and variable rate mortgage loans. In addition, it provides other banking services that include safe deposit boxes, direct deposit of payroll, and social security checks; online banking products, including online and mobile banking, online account opening, bill pay, e-statement, mobile deposit, digital wallet, and ATM services; title insurance and other financial institution-related products and services; and treasury and corporate cash management services. Carter Bankshares, Inc. was founded in 1974 and is headquartered in Martinsville, Virginia.
Contact Information
1300 Kings Mountain Road, Martinsville, VA, 24112, United States
276-656-1776
www.carterbank.com
Market Cap
$397.98M
P/E (TTM)
12.5
14.1
Dividend Yield
--
52W High
$20.53
52W Low
$13.61
52W Range
57%
3.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$64.54M+5.58%
4-Quarter Trend

EPS

$0.24+0.00%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

NII Rises 12.8% YTD Nine-month NII reached $96.2M, driven by loan growth; FTE NIM improved 21 basis points to 2.80%.
Asset Quality Shows Improvement NPL ratio decreased to 6.74% from 8.00% at year-end; ACL coverage ratio stands at 1.92% of loans.
Total Assets Reach $4.84 Billion Total assets grew $180.9M since year-end, supported by $210.8M annualized portfolio loan growth and deposit increase.
Capital Ratios Remain Strong Bank Leverage Ratio 9.24% (Well Capitalized minimum 5.00%); Total Capital 11.72%, exceeding regulatory minimums.

Risk Factors

Large Nonaccrual Loan Impact Single large credit relationship ($228.6M balance) continues to negatively impact interest income by $20.0M YTD.
Liability Sensitive Position Balance sheet is liability sensitive; short-term funding structure exposes earnings to potential compression if rates rise unexpectedly.
Funding Structure Repricing Risk 68.6% of CDs and 77.2% of FHLB borrowings mature within twelve months, requiring active liquidity management.
Branch Acquisition Costs Incurred Merger-related professional fees of $419K were recorded during the nine months related to the recent North Carolina branch purchase.

Outlook

Favorable Rate Environment Outlook Liability sensitive position suggests potential net interest income benefit if FOMC continues cutting short-term rates through 2026.
Specific Credit Loss Reserves Specific reserve of $21.7M established for the largest nonperforming loan, representing 9.5% of its aggregate principal amount.
Focus on Organic Growth Strategy emphasizes refining brand, pursuing prudent organic growth, and increasing fee income while closely monitoring operating expenses.
Share Repurchase Authorization Board authorized a $20.0M common stock repurchase program through May 2026; $14.0M utilized through September 30, 2025.

Peer Comparison

Revenue (TTM)

Peoples Financial Services Corp.PFIS
$282.16M
+40.0%
Kearny Financial Corp.KRNY
$267.54M
-18.8%
First Business Financial Services, Inc.FBIZ
$252.67M
-1.3%

Gross Margin (Latest Quarter)

Carter Bankshares, Inc.CARE
0.0%
+0.0 pp
ACNB CorporationACNB
0.0%
+0.0 pp
Peoples Financial Services Corp.PFIS
0.0%
+0.0 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
NRIM$515.82M8.221.9%0.2%
AROW$505.28M14.68.4%0.6%
ACNB$491.41M15.08.8%10.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+2.0%
Moderate Growth
4Q Net Income CAGR
-13.2%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 3, 2025|
    Revenue: $64.54M+5.6%
    |
    EPS: $0.24+0.0%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 4, 2025|
    Revenue: $39.93M-32.7%
    |
    EPS: $0.37+76.2%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $61.92M+6.1%
    |
    EPS: $0.39+56.0%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 7, 2025|
    Revenue: $239.67M+13.1%
    |
    EPS: $1.06+6.0%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $61.13M+14.6%
    |
    EPS: $0.24+50.0%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $59.31M+23.6%
    |
    EPS: $0.21-12.5%
    Meet

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $58.34M+3.8%
    |
    EPS: $0.25-62.7%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 8, 2024|
    Revenue: $211.82M+18.2%
    |
    EPS: $1.00-50.7%
    Beat