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Carter Bankshares, Inc.

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Carter Bankshares, Inc. • NASDAQ
$18.37 ▲ 0.16% (+0.03)
Market Cap $417.06 M
52w High $20.53
52w Low $13.61
Dividend Yield 0%
P/E 13.51
Volume 45.70K
Outstanding Shares 22.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $63.581M ▲ $27.745M ▼ $5.419M ▼ 8.523% ▼ $0.24 ▼ $9.119M ▼
Q2-2025 $61.664M ▼ $28.313M ▲ $8.51M ▼ 13.801% ▼ $0.37 ▼ $12.567M ▼
Q1-2025 $61.916M ▲ $27.05M ▼ $8.953M ▲ 14.46% ▲ $0.39 ▲ $13.047M ▲
Q4-2024 $60.9M ▼ $27.896M ▲ $8.28M ▲ 13.596% ▲ $0.36 ▲ $12.522M ▲
Q3-2024 $61.128M $26.544M $5.629M 9.209% $0.24 $8.822M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $771.247M ▼ $4.84B ▲ $4.427B ▲ $412.838M ▲
Q2-2025 $855.117M ▲ $4.784B ▲ $4.378B ▲ $405.635M ▲
Q1-2025 $770.616M ▼ $4.7B ▲ $4.299B ▲ $401.766M ▲
Q4-2024 $786.121M ▲ $4.659B ▲ $4.275B ▲ $384.313M ▼
Q3-2024 $785.32M $4.613B $4.227B $386.825M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $8.51M ▼ $9.599M ▲ $-13.44M ▲ $14.747M ▼ $10.906M ▲ $7.682M ▲
Q1-2025 $8.953M ▲ $6.376M ▼ $-81.054M ▼ $32.506M ▼ $-42.172M ▼ $4.853M ▼
Q4-2024 $8.28M ▲ $11.451M ▲ $-33.625M ▼ $48.353M ▼ $26.179M ▼ $8.314M ▼
Q3-2024 $5.629M ▲ $10.312M ▲ $-22.833M ▼ $55.767M ▲ $43.246M ▲ $8.432M ▲
Q2-2024 $4.803M $-2.459M $-22.185M $-21.72M $-46.364M $-4.27M

Revenue by Products

Product Q1-2023Q2-2023Q3-2023Q4-2023
Commercial Loan Swap Fee Income
Commercial Loan Swap Fee Income
 $0 ▲$0 ▲$0 ▲$0 ▲
Debit Card
Debit Card
 $0 ▲$0 ▲$0 ▲$0 ▲
Deposit Accounts Commissions And Fees
Deposit Accounts Commissions And Fees
 $0 ▲$0 ▲$0 ▲$0 ▲
Insurance
Insurance
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Carter Bankshares’ earnings profile shows a bank that has moved from a loss several years ago to consistent profitability, though not on a straight line. Revenue has been climbing steadily, helped by a broader and more active franchise. Profitability improved sharply coming out of 2020, peaked around 2022, and has since settled at a more moderate but still solid level. Recent years show stable operating and net income rather than rapid growth, which suggests the bank is now in a consolidation phase: the heavy lifting of the turnaround is largely done, and management appears focused on maintaining margins and credit quality rather than chasing aggressive expansion.

Balance Sheet

Balance Sheet The balance sheet looks generally stronger and more resilient than a few years ago. Total assets have grown steadily, pointing to a larger lending and deposit base. Equity has been rebuilt and is trending upward again after earlier pressure, which supports capital strength. Debt usage spiked at one point but has since been pulled back significantly, reducing leverage risk. Cash levels dipped from earlier highs but have recovered somewhat, implying tighter but more actively managed liquidity than during the early-pandemic period when banks were awash in cash.

Cash Flow

Cash Flow Carter is consistently generating cash from its core banking operations, a sign that its earnings are backed by real cash, not just accounting profits. Operating cash flow has been positive for several years in a row, with free cash flow also firmly in positive territory. Investment spending is modest and steady, indicating a disciplined approach to technology and infrastructure rather than big, risky capital bets. Overall, the cash profile suggests a business that covers its own needs and still has room to reinvest or strengthen its financial position further.

Competitive Edge

Competitive Edge Competitively, Carter sits in the classic community bank niche: strong local relationships, long operating history, and a focus on personalized service. Its “lifetime free checking” offering is a simple but powerful hook that keeps customers loyal and less likely to switch. The bank’s rebranding and renewed marketing message aim to refresh a legacy franchise for a new generation of customers. The main competitive risks are the intense pressure from much larger regional and national banks, along with digital-first players that can often move faster on technology and pricing. Carter’s edge depends on how well it can convert its community trust and local decision-making into durable relationships that withstand those pressures.

Innovation and R&D

Innovation and R&D Innovation at Carter is less about flashy new products and more about catching up and then keeping pace on technology. The partnership with Fiserv and the overhaul of its core systems have moved the bank from a tech laggard to a more modern platform with up-to-date online and mobile banking. Back-office automation and better data systems should support efficiency and risk management over time. Looking ahead, management talks about using artificial intelligence and process automation to deepen customer insight and streamline internal work, though these ideas are still more roadmap than reality. The bank’s willingness to invest in tech talent at the board and leadership level is a positive sign that innovation is now part of its long-term playbook.

Summary

Overall, Carter Bankshares looks like a traditional community bank that has successfully stabilized its finances and is working through a strategic transition. Earnings and cash flow are positive and more predictable than in the past, and the balance sheet is stronger, with healthier capital and less reliance on debt. The franchise remains rooted in relationship banking and local presence, now supported by much more competitive digital capabilities. The key questions going forward are whether Carter can use its upgraded technology to drive the next leg of organic growth, maintain asset quality and margins in a changing rate and credit environment, and selectively expand without losing the personal touch that underpins its competitive identity.

NEWS

November 20, 2025 · 9:00 AM UTC

Carter Bank Enters the South Carolina Market With Expansion Into Greenville

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November 13, 2025 · 9:00 AM UTC

Carter Bank Joins the Federal Reserve Bank of Richmond as a State Member Bank

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October 23, 2025 · 8:00 AM UTC

Carter Bankshares, Inc. Announces Third Quarter 2025 Financial Results

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October 3, 2025 · 11:53 AM UTC

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September 16, 2025 · 9:00 AM UTC

Carter Bank Expands Into Gastonia

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