Carter Bankshares, Inc. CARE

Financials SIC 6021 - National Commercial Banks NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Commercial Banking derived Nasdaq

Carter Bankshares, Inc. (the "Company") is a bank holding company headquartered in Martinsville, Virginia with assets of $4.9 billion at December 31, 2025. In October 2025, the Company elected to become a financial holding company under the Bank Holding Company Act of 1956, as amended (the "BHCA"). As a financial holding company of a Virginia state bank, the Company is subject to regulation, supervision and examination by the Board of Governors of the Federal Reserve System (the "FRB") and the Bureau of Financial Institutions of the Virginia State Corporation Commission (the "Virginia BFI"). The Company is the parent company of its wholly owned subsidiary, Carter Bank & Trust (the "Bank"). The Bank is a Federal Deposit Insurance Corporation ("FDIC") insured, Virginia state-chartered bank, which operates 64 branches in Virginia and North Carolina. The Bank became a member of the Federal Reserve System on November 13, 2025. The Bank is subject to regulation, supervision and examination by the FRB (through the Federal Reserve Bank of Richmond) and the Virginia BFI. The Company provides a full range of commercial banking, consumer banking, mortgage and services through the Bank. The Company's common stock trades on the Nasdaq Global Select Market under the ticker symbol "CARE".

Last close 30.57 2026-10-23
Market cap $677.6M 2026-06-30 share count
52-week range 16.78 - 36.06

Valuation FY2025 figures against the last close

P/S33.4x
P/E22.2x
P/FCF21.3x
EV/EBITDA—
Dividend yield—
Diluted EPS1.38

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $20.3M$19.4M$17.3M$18.3M$17.5M$18.0M$12.8M—
Interest expense $130.8M$114.5M$122.3M$139.9M$22.7M$35.8M$46.8M—
Pre-tax income $40.0M$30.9M$28.7M$61.7M$35.7M-$45.1M$27.8M—
Income tax $8.6M$6.3M$5.3M$11.6M$4.1M$772.0K$1.2M—
Net income $31.4M$24.5M$23.4M$50.1M$31.6M-$45.9M$26.6M—
EPS, basic 1.381.061.002.031.19-1.741.01—
EPS, diluted 1.381.061.002.031.19-1.741.01—
Shares, diluted (wtd. avg.) 22.5M22.8M23.2M24.6M26.3M26.4M26.3M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $105.2M$131.2M$54.5M$46.9M$277.8M$241.9M$125.8M$293.8M
Property, plant and equipment $72.5M$74.3M$73.7M$72.1M$75.3M$85.3M——
Goodwill $1.2M$0——————
Other intangibles $940.0K$0——————
Total assets $4.85B$4.66B$4.51B$4.20B$4.13B$4.18B——
Total liabilities $4.43B$4.27B$4.16B$3.88B$3.73B$3.74B——
Retained earnings $365.0M$333.6M$309.1M$285.6M$235.5M$254.6M——
Total equity $419.7M$384.3M$351.2M$328.6M$407.6M$440.2M$473.1M$436.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $39.9M$36.9M$46.7M$70.8M$77.5M$7.7M$38.3M—
Depreciation and amortisation $7.9M$7.1M$6.2M$6.1M$6.2M$6.1M$5.3M—
Stock-based compensation $2.1M$1.8M$1.6M$1.3M$1.0M$1.0M$381.0K—
Capital expenditure $8.1M$8.1M$9.8M$5.9M$8.5M$10.1M$8.5M—
Investing cash flow -$155.9M-$68.4M-$307.0M-$382.1M-$106.4M-$93.3M-$129.4M—
Financing cash flow $90.0M$108.1M$267.9M$80.3M$64.7M$201.7M-$76.9M—
Dividends paid ———$0$0$3.7M$0—
Buybacks $20.0M$0$16.4M$42.9M$157.0K$0$0—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001829576-26-000027.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -50M -25M 0 25M 50M 75M Revenue, FY2019: 12.8M Net income, FY2019: 26.6M Revenue, FY2020: 18M Net income, FY2020: -45.9M Revenue, FY2021: 17.5M Net income, FY2021: 31.6M Revenue, FY2022: 18.3M Net income, FY2022: 50.1M Revenue, FY2023: 17.3M Net income, FY2023: 23.4M Revenue, FY2024: 19.4M Net income, FY2024: 24.5M Revenue, FY2025: 20.3M Net income, FY2025: 31.4M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $12.8M $18.0M $17.5M $18.3M $17.3M $19.4M $20.3M
Gross profit — — — — — — — —
Net income — $26.6M -$45.9M $31.6M $50.1M $23.4M $24.5M $31.4M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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