Carter Bankshares, Inc.CARE

Carter Bankshares (CARE) reported a $12.5 million loss from securities sales tied to its Q2 portfolio repositioning, even as it touted a “strategic expansion” into South Carolina. The bank, which counts $4.8 billion in assets and 63 branches across Virginia and now the Palmetto State, saw deposits fall $37.7 million from March levels despite claiming “customer demand across the” loan book. (source: Press Release announcing the, https://www.sec.gov/Archives/edgar/data/1829576/000182957626000070/care-2q26_ex991xer.htm)

CARE operates as a traditional community bank, offering commercial and consumer loans, mortgages, and deposit services through its subsidiary Carter Bank. Its loan portfolio includes niche segments like churches, self-storage facilities, and auto shops, with $36.7 million in restaurant loans alone. The bank’s Virginia roots and recent South Carolina push reflect a regional strategy, though $132.6 million in Q2 commercial real estate loan payoffs suggest selective retrenchment. (source: Exhibit 99.1, https://www.sec.gov/Archives/edgar/data/1829576/000182957626000073/carterinvestordeck2q26.htm)

First-quarter filings show net income of $85.8 million on $20.3 million revenue (period ending March 31, 2026), with diluted EPS of $3.88. The bank holds $4.29 billion in liabilities against $504.9 million in shareholder equity, though operating cash flow reached $303.9 million. Despite this, deposits declined in Q2, and a $0.10 dividend approved July 22 offers scant yield relative to its cash reserves. (source: SEC EDGAR filing index, https://www.sec.gov/edgar/browse/?CIK=1829576)