CARE on Nasdaq
Carter Bankshares, Inc.
American national commercial bank, incorporated in Virginia1
In its 2026 annual report the company says: “Carter Bankshares, Inc. is a bank holding company headquartered in Martinsville, Virginia with assets of $4.9 billion at December 31, 2025. The Company is the parent company of its wholly owned subsidiary, Carter Bank & Trust. The Company provides a full range of commercial banking, consumer banking, mortgage and services through the Bank.”3 Its shares trade on Nasdaq under the symbol CARE.1
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Last updated Oct 21, 2026.
Overview
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- TickerCARE on Nasdaq1
- IndustryNational Commercial Banks1
- HeadquartersMartinsville, Virginia1
- Incorporated inVA2
- Business address1300 Kings Mountain Road, Martinsville, Va 241122
- Filer categoryAccelerated filer2
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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 R…3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Income tax22¢$8.6M
- Profit78¢$31.4M
Out of $20.3M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Capital spending20¢$8.1M
- Share buybacks50¢$20.0M
- Kept or used elsewhere30¢$11.8M
Out of $39.9M of cash from operations.4
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $12.8M5 | $18.0M6 | $17.5M7 | $18.3M8 | $17.3M4 | $19.4M4 | $20.3M4 |
| Interest | $46.8M5 | $35.8M6 | $22.7M7 | $20.3M7 | $74.1M7 | ||
| Income before tax | $35.7M7 | $61.7M8 | $28.7M4 | $30.9M4 | $40.0M4 | ||
| Income tax | $1.2M5 | $772.0K6 | $4.1M7 | $11.6M8 | $5.3M4 | $6.3M4 | $8.6M4 |
| Net income | $26.6M5 | -$45.9M6 | $31.6M7 | $50.1M8 | $23.4M4 | $24.5M4 | $31.4M4 |
| Earnings per share | $1.015 | -$1.746 | $1.197 | $2.038 | $1.004 | $1.064 | $1.384 |
| Earnings per share (diluted) | $1.015 | -$1.746 | $1.197 | $2.038 | $1.004 | $1.064 | $1.384 |
| Shares (weighted, basic) | 26.3M shares7 | 24.6M shares8 | 23.2M shares4 | 22.8M shares4 | 22.5M shares4 | ||
| Shares (weighted, diluted) | 26.3M shares7 | 24.6M shares8 | 23.2M shares4 | 22.8M shares4 | 22.5M shares4 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash | $125.8M6 | $241.9M5 | $277.8M5 | $46.9M4 | $54.5M4 | $131.2M4 | $105.2M4 |
| Property, plant and equipment | $75.3M6 | $72.1M7 | $73.7M8 | $74.3M4 | $72.5M4 | ||
| Goodwill | $04 | $1.2M4 | |||||
| Intangible assets | $04 | $940.0K4 | |||||
| Total assets | $4.2B5 | $4.1B6 | $4.2B7 | $4.5B8 | $4.7B4 | $4.9B4 | |
| Total liabilities | $3.7B5 | $3.7B6 | $3.9B7 | $4.2B8 | $4.3B4 | $4.4B4 | |
| Retained earnings | $235.5M6 | $285.6M7 | $309.1M8 | $333.6M4 | $365.0M4 | ||
| Shareholders’ equity | $473.1M6 | $440.2M7 | $407.6M8 | $328.6M4 | $351.2M4 | $384.3M4 | $419.7M4 |
| Shares outstanding | 26.4M shares5 | 26.4M shares6 | 24.0M shares7 | 23.0M shares8 | 23.1M shares4 | 22.1M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | $38.3M5 | $7.7M6 | $77.5M7 | $70.8M8 | $46.7M4 | $36.9M4 | $39.9M4 |
| Depreciation and amortization | $6.2M7 | $6.1M8 | $6.2M4 | $7.1M4 | $7.9M4 | ||
| Stock-based compensation | $1.0M7 | $1.3M8 | $1.6M4 | $1.8M4 | $2.1M4 | ||
| Capital spending | $8.5M5 | $10.1M6 | $8.5M7 | $5.9M8 | $9.8M4 | $8.1M4 | $8.1M4 |
| Free cash flow | $29.8M | -$2.4M | $69.1M | $64.9M | $36.9M | $28.8M | $31.8M |
| Cash from investing | -$106.4M7 | -$382.1M8 | -$307.0M4 | -$68.4M4 | -$155.9M4 | ||
| Dividends paid | $05 | $3.7M6 | $06 | $06 | |||
| Share buybacks | $05 | $06 | $157.0K7 | $42.9M8 | $16.4M4 | $04 | $20.0M4 |
| Cash from financing | $64.7M7 | $80.3M8 | $267.9M4 | $108.1M4 | $90.0M4 | ||
| Dividend per share | $0.146 |
Corporate structure
Carter Bankshares, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Carter Bankshares, Inc.
- DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on Carter Bankshares, Inc., latest Oct 8, 2026 (2 filings since Jan 21, 2026)
- Fourthstone LLC Filed SCHEDULE 13G/A on Carter Bankshares, Inc., latest Aug 14, 2026 (3 filings since Feb 13, 2026)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on Carter Bankshares, Inc., latest Jul 31, 2026 (2 filings since Apr 29, 2026)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Carter Bankshares, Inc., latest Mar 26, 2026 (3 filings since Feb 9, 2023)
- AllianceBernstein Filed SCHEDULE 13G/A on Carter Bankshares, Inc., latest Nov 15, 2024 (4 filings since Feb 14, 2022)
- BlackRock Filed SC 13G/A on Carter Bankshares, Inc., latest Jan 26, 2024 (3 filings since Feb 3, 2022)
- Carter Bankshares, Inc. Martinsville, Virginia
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Carter Bankshares, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $120.8M4 Dec 31, 2025 | $121.9M4 Dec 31, 2024 | −0.9% |
| Accumulated depreciation | $48.3M4 Dec 31, 2025 | $47.5M4 Dec 31, 2024 | +1.6% |
| Property and equipment, net | $72.5M4 Dec 31, 2025 | $74.3M4 Dec 31, 2024 | −2.5% |
| Finance-lease assets | $9.0M4 Dec 31, 2025 | $9.6M4 Dec 31, 2024 | −6.4% |
| Operating-lease assets (leased space) | $1.1M4 Dec 31, 2025 | $294.0K4 Dec 31, 2024 | +268.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Loans, net of allowance | $3.8B4 Dec 31, 2025 | $3.5B4 Dec 31, 2024 | +7.3% |
| Deposits held (banks) | $4.2B4 Dec 31, 2025 | $4.2B4 Dec 31, 2024 | +1.4% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $1.2M4 Dec 31, 2025 | $04 Dec 31, 2024 | |
| Accumulated amortization | $161.0K4 Dec 31, 2025 | ||
| Finite-lived intangibles, net | $940.0K4 Dec 31, 2025 | $04 Dec 31, 2024 |
Properties, in its own words
The Company’s principal executive office is located at 1300 Kings Mountain Road in Martinsville, Virginia. There are also two other corporate administrative locations that house its operations center and various other corporate functions. As of December 31, 2025, the Company offers its community banking services through 64 combined depository locations in Virginia and North Carolina, and have 51 offices located in Virginia and 13 offices located in North Carolina. Eight of these depository banking locations are held under lease contracts. In addition, the Bank leases three loan production offices, one commercial banking office and one office housing various Bank functions. Management believes the terms of the various leases are consistent with market standards and were arrived at through arm’s length bargaining. The leases are described in Note 10, Premises and Equipment, of the Notes to Consolidated Financial Statements in Item 8. of this Annual Report on Form 10-K.
Item 2 of the 10-K filed Mar 5, 2026.3
Leadership
Who has led Carter Bankshares, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerDyke Litz H. Van Dec 2, 2020 to now11
- PresidentBradford N. Langs Feb 22, 2021 to now12
- Chief financial officerWendy S. Bell Feb 22, 2021 to now13
- Chief operating officerMatthew M. Speare Feb 16, 2023 to now14
Board members and other officers (21)
- EVP, CHIEF ADMIN. OFFICERJane Ann Davis Feb 22, 2021 to now15
- EVP, CHIEF CREDIT OFFICERTony E. Kallsen Feb 22, 2021 to now16
- EVP, DIRECTOR OF REG RISK MNGTArthur Loran Adams Dec 2, 2020 to now17
- EVP, CHIEF INFORMATION OFFICERMatthew M. Speare Dec 2, 2020 to Mar 8, 202218
- SR EXEC VP OF SPECIAL PROJECTSPhyllis Q. Karavatakis Dec 2, 2020 to Oct 15, 202119
- Board memberCurtis E. Stephens Mar 30, 2022 to now20
- Board memberJacob A. Lutz Iii. Mar 30, 2022 to now21
- Board memberCatharine L. Midkiff Feb 26, 2021 to now22
- Board memberChester A. Gallimore Feb 26, 2021 to Aug 25, 202123
- Board memberEdward Warren Matthews Feb 26, 2021 to now24
- Board memberElizabeth L. Walsh Feb 26, 2021 to now25
- Board memberJames W. Haskins Feb 26, 2021 to now26
- Board memberJoseph E. Pigg Feb 26, 2021 to Aug 25, 202127
- Board memberKevin S. Bloomfield Feb 26, 2021 to now28
- Board memberLanny A. Kyle Jr. Feb 26, 2021 to Feb 16, 202329
- Board memberRobert M. Bolton Feb 26, 2021 to now30
- Board memberRobert W. Conner Feb 26, 2021 to Feb 16, 202331
- Board memberDyke Litz H. Van Dec 2, 2020 to now11
- Board memberGregory W. Feldmann Dec 2, 2020 to now32
- Board memberMichael R. Bird Dec 2, 2020 to now33
- Board memberPhyllis Q. Karavatakis Dec 2, 2020 to now19
Timeline
- Aug 17, 20268-K Other events34
- Aug 11, 20268-K Other events35
- Jul 27, 20268-K Regulation FD disclosure36
- Jul 23, 20268-K Results of operations37
- Jul 23, 20268-K Other events38
- Jun 24, 20268-K Executive or director change39
- May 29, 20268-K Shareholder vote40
- May 29, 20268-K Regulation FD disclosure41
- May 1, 20268-K Other events42
- May 1, 20268-K Regulation FD disclosure43
- Apr 23, 20268-K Results of operations44
- Apr 23, 20268-K Other events45
- Dec 2, 2020New chief executive Dyke Litz H. Van becomes CEO11
Calendar
Coming up
- Oct 22, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.26 a share, on Oct 23, 2025.46
When it reported results
- Jul 23, 2026Reported quarterly or annual results37
- Apr 23, 2026Reported quarterly or annual results44
- Jan 29, 2026Reported quarterly or annual results47
- Oct 23, 2025Reported quarterly or annual results48
- Jul 24, 2025Reported quarterly or annual results49
- Apr 24, 2025Reported quarterly or annual results50
- Jan 23, 2025Reported quarterly or annual results51
- Oct 24, 2024Reported quarterly or annual results52
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
355 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 76 major events, 231 insider forms, 17 large holders, 11 other. The latest 20:
- Oct 8, 2026SCHEDULE 13G/A EDGAR
- Sep 11, 20264/A EDGAR
- Sep 11, 20264 EDGAR
- Aug 17, 20268-K EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 11, 20268-K EDGAR
- Aug 11, 2026S-3D EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 5, 20264 EDGAR
- Jul 31, 2026SCHEDULE 13G/A EDGAR
- Jul 30, 20264 EDGAR
- Jul 30, 20264 EDGAR
- Jul 27, 20268-K EDGAR
- Jul 23, 20268-K EDGAR
- Jul 23, 20268-K EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
The 355 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
91 open-market trades by officers, directors and large owners since October 2021: 65 buys and 26 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 11, 2026 | Midkiff Catharine L.Director | Sale | 1,000 | $31.25 | $31.2K | Form 4 |
| Sep 11, 2026 | Midkiff Catharine L.Director | Sale | 1,000 | $31.25 | $31.2K | Form 4 |
| Jul 30, 2026 | Langs Bradford N.PRESIDENT, CHIEF STRATEGY OFCR | Sale | 2,500 | $34.54 | $86.3K | Form 4 |
| Jul 30, 2026 | Bolton Robert M.Director | Sale | 1,500 | $34.60 | $51.9K | Form 4 |
| May 12, 2026 | Langs Bradford N.PRESIDENT, CHIEF STRATEGY OFCR | Sale | 5,500 | $26.47 | $145.6K | Form 4 |
| May 6, 2026 | Walsh Elizabeth L.Director | Buy | 4,575 | $26.20 | $119.9K | Form 4 |
| May 5, 2026 | Haskins James W.Director | Sale | 1,000 | $26.04 | $26.0K | Form 4 |
| Oct 30, 2025 | Bolton Robert M.Director | Sale | 1,901 | $17.23 | $32.8K | Form 4 |
| Sep 10, 2025 | Speare Matthew M.SEVP, CHIEF OPERATING OFFICER | Sale | 13,550 | $19.83 | $268.7K | Form 4 |
| Aug 26, 2025 | Bell Wendy S.SENIOR EXECUTIVE VP, CFO | Sale | 250 | $19.54 | $4.9K | Form 4 |
| Jul 30, 2025 | Midkiff Catharine L.Director | Sale | 2,000 | $17.76 | $35.5K | Form 4 |
| Jul 30, 2025 | Midkiff Catharine L.Director | Sale | 2,000 | $17.76 | $35.5K | Form 4 |
| Jul 28, 2025 | Haskins James W.Director | Sale | 2,000 | $17.84 | $35.7K | Form 4 |
| Jun 12, 2025 | Bloomfield Kevin S.Director | Sale | 1,629 | $16.81 | $27.4K | Form 4 |
| Jun 11, 2025 | Bloomfield Kevin S.Director | Sale | 1,629 | $16.81 | $27.4K | Form 4 |
| Jun 11, 2025 | Bloomfield Kevin S.Director | Sale | 4,509 | $16.71 | $75.3K | Form 4 |
| Jun 10, 2025 | Bloomfield Kevin S.Director | Sale | 4,509 | $16.71 | $75.3K | Form 4 |
| Jun 9, 2025 | Bloomfield Kevin S.Director | Sale | 1,000 | $16.52 | $16.5K | Form 4 |
| Jun 6, 2025 | Bloomfield Kevin S.Director | Sale | 1,000 | $16.52 | $16.5K | Form 4 |
| Jun 5, 2025 | Davis Jane AnnEVP, CHIEF ADMIN. OFFICER | Sale | 2,500 | $16.39 | $41.0K | Form 4 |
All 91 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 2 filings Jan 21, 2026 to Oct 8, 202653
- Fourthstone LLCSCHEDULE 13G/A, 3 filings Feb 13, 2026 to Aug 14, 202654
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G/A, 2 filings Apr 29, 2026 to Jul 31, 202655
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Feb 9, 2023 to Mar 26, 202656
- AllianceBernsteinSCHEDULE 13G/A, 4 filings Feb 14, 2022 to Nov 15, 202457
- BlackRockSC 13G/A, 3 filings Feb 3, 2022 to Jan 26, 202458
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Litz H. Van Dyke | 62 | $703.1K | $1.4M59 |
| 2025 | Bradford N. Langs | 60 | $577.8K | $1.0M59 |
| 2025 | Wendy S. Bell | 62 | $429.7K | $746.7K59 |
| 2025 | Matthew M. Speare | 59 | $401.1K | $700.4K59 |
| 2025 | Tony E. Kallsen | 58 | $365.4K | $608.2K59 |
| 2024 | CEO of the Company and the Bank | $676.8K | $1.3M59 | |
| 2024 | President and Chief StrategyOfficer of the Bank | $555.2K | $1.0M59 | |
| 2024 | CFO of the Company; Senior Executive Vice President and CFO of the Bank | $413.6K | $779.6K59 | |
| 2024 | Senior Executive VicePresident and Chief Credit Officer of the Bank | $352.0K | $630.9K59 | |
| 2023 | CEO of the Company and the Bank | $644.6K | $784.6K59 | |
| 2023 | President and Chief StrategyOfficer of the Bank | $514.3K | $636.5K59 | |
| 2023 | CFO of the Company; Senior Executive Vice President and CFO of the Bank | $389.7K | $494.6K59 | |
| 2023 | Senior Executive VicePresident and Chief Credit Officer of the Bank | $339.9K | $425.8K59 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 1,796,799 | $61.1M | 0.0% | +127,981 |
| Dimensional Fund Advisors LP | 1,256,126 | $42.7M | 0.0% | +80,201 |
| Vanguard Capital Management LLC | 955,877 | $32.5M | 0.0% | −29,106 |
| State Street Corp | 912,310 | $31.0M | 0.0% | +413,408 |
| American Century Companies Inc | 709,568 | $24.1M | 0.0% | +168,702 |
| Lazard Asset Management LLC | 640,742 | $21.8M | 0.0% | New |
| Geode Capital Management, LLC | 576,614 | $19.6M | 0.0% | +60,639 |
| Kennedy Capital Management LLC | 384,084 | $13.1M | 0.2% | −65,533 |
| Goldman Sachs Group Inc | 373,745 | $12.7M | 0.0% | +17,357 |
| Vanguard Portfolio Management LLC | 301,842 | $10.3M | 0.0% | +137,966 |
| Aqr Capital Management LLC | 299,724 | $10.2M | 0.0% | +239,810 |
| Algert Global LLC | 278,213 | $9.5M | 0.1% | +121,433 |
| Hillsdale Investment Management Inc. | 263,657 | $9.0M | 0.2% | New |
| Morgan Stanley | 222,626 | $7.6M | 0.0% | +102,807 |
| Nuveen, LLC | 195,185 | $6.6M | 0.0% | +148,266 |
| Northern Trust Corp | 189,817 | $6.5M | 0.0% | +14,348 |
| Russell Investments Group, Ltd. | 186,228 | $6.3M | 0.0% | +82,122 |
| Huber Capital Management LLC | 183,553 | $6.2M | 0.9% | −7,000 |
| Petiole USA ltd | 179,222 | $6.1M | 4.4% | −202,151 |
| Tudor Investment Corp Et Al | 161,420 | $5.5M | 0.0% | New |
| Fmr LLC | 154,054 | $5.2M | 0.0% | +147,493 |
| Vanguard Fiduciary Trust Co | 148,225 | $5.0M | 0.0% | +750 |
| Hotchkis & Wiley Capital Management LLC | 144,388 | $4.9M | 0.0% | −45,040 |
| Diversified Trust Co | 141,762 | $4.8M | 0.1% | +10,274 |
| Bridgeway Capital Management, LLC | 141,683 | $4.8M | 0.1% | +6,828 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Carter Bankshares, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCarter Bankshares, Inc.1
- CIK0001829576
- Employer ID (EIN)85-33656613
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
- Incorporated inVirginia3
- Fiscal year endsDecember 311
- Industry code (SIC)6021 National Commercial Banks1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address1300 Kings Mountain Road, Martinsville, VA 241121
- Phone276-656-17761
- Shares outstanding22,163,931 as of Aug 3, 202610
- Public float$377.8M as of Jun 30, 20253
- AuditorCrowe LLP, Washington, D.C. PCAOB ID 173; it also attests to the company’s internal control over financial reporting3
- On EDGAR sinceNov 23, 20201
- Filings447 in all: 4 (292), 8-K (86), 10-Q (17), 4/A (8), 10-K (6), DEF 14A (6), SC 13G/A (6), SCHEDULE 13G/A (6)1
All 17 form types
8-K/A (4), ARS (4), SC 13G (3), SCHEDULE 13G (3), 3 (2), 8-K12B (1), DEFA14A (1), S-3D (1), S-8 (1)
- Latest filingsAnnual report (10-K) Mar 5, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 15, 2026
Latest 8-K (8-K) Aug 17, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $1 par value | CARE | Nasdaq Global Select Market |
From the cover page of the 10-K filed Mar 5, 2026 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks Carter Bankshares, Inc. names in Item 1A of its 10-K filed Mar 5, 2026: 42 risks under these headings, as written.3
- Risks Related to Credit
- Nonperforming assets can take significant time to resolve and may adversely affect the Company’s results of operations and financial condition, and could result in additional losses in future periods.
- The Company’s level of credit risk is elevated due to relationship exposure to the Company’s largest credit relationship.
- A significant portion of the Company’s commercial loan portfolio is secured by real estate, and adverse changes in the real estate market or economic conditions could adversely affect our results.
- The Company relies on independent appraisals and other valuation techniques in evaluating and monitoring loans secured by real estate collateral securing a significant portion of its loan portfolio, which may not accurately describe the net value of the asset.
- The Company’s concentration in commercial real estate loans, including construction loans, increases its credit risk and could adversely affect its financial condition and results of operations.
- A significant part of the Company’s lending business is focused on small to medium-sized business which may be impacted more severely during periods of economic weakness.
- The Company’s allowance for credit losses may be insufficient to absorb expected losses in its loan portfolio, which may adversely affect its business, financial condition and results of operations.
- Our real estate lending activities may result in the acquisition of OREO, which could increase expenses and negatively impact our financial condition and results of operations.
- Risks Related to Market Conditions, Interest Rates and Investments
- The Company’s business is subject to interest rate risk and fluctuations in interest rates may adversely affect its earnings, income, cash flow, capital levels and credit quality.
- The value of the Company’s investment securities could decline.
The other 32 risks
- Inflation could negatively impact the Company’s business, its profitability, and its stock price.
- Risks Related to the Company’s Operations, Cybersecurity and Technology
- A failure, disruption, or breach of our operational, cybersecurity, or information technology systems, or those of third-party service providers, could disrupt the Company’s business and adversely affect our results of operations, liquidity, financial condition, and reputation.
- Cyberattacks, information security breaches, or technology failures involving our systems or those of third-party service providers could impair our ability to conduct business, manage risk exposures, and safeguard confidential information, and could adversely affect our results of operations, liquidity, financial condition, and reputation.
- The Company relies on third-party service providers and other suppliers to support a number of critical business functions, including technology infrastructure, data processing, payment systems, and its core operating platform. An interruption, failure, or cessation of services provided by any significant third-party provider could disrupt its operations and have a material adverse effect on its business, results of operations, liquidity, or financial condition.
- Failure to keep pace with technological change could adversely affect the Company’s business and ability to remain competitive, and it may experience operational challenges when implementing new technologies.
- The Company’s business is dependent on its executive management team and other key personnel, and the loss of their services could adversely affect its operations.
- The Company uses models in its business, and could be adversely affected if its design, implementation, or use of models is flawed.
- The Company is subject to physical and financial risks associated with climate change and other weather and natural disaster impacts.
- Risks Related to Liquidity
- Liquidity risks and adverse developments affecting the financial services industry could materially adversely affect our financial condition and results of operations.
- The Company’s liquidity could be adversely affected if it were unable to access short-term funding or monetize liquid assets.
- The Company’s reliance on customer deposits for funding and liquidity could adversely affect its financial performance if access to such funding becomes impaired.
- The Company’s ability to meet contingency funding needs during periods of financial stress depends on access to wholesale funding sources, including the FHLB of Atlanta, and any disruption to these sources could materially adversely affect its liquidity.
- The Company depends on dividends from its bank subsidiary for substantially all of its revenue, and regulatory restrictions on the Bank’s ability to pay dividends could adversely affect its financial condition.
- Risks Related to the Company’s Business Strategy
- The Company’s profitability is significantly influenced by economic conditions in the markets that it serves.
- The Company faces significant competition from financial institutions and other providers of banking and financial services, which could adversely affect its growth and profitability.
- Customers may increasingly bypass traditional banking relationships, which could adversely affect the Company’s revenue and funding sources.
- Our ability to execute our business strategy depends on attracting and retaining qualified personnel.
- Risks Related to Regulatory Compliance and Legal Matters
- The Company is subject to extensive regulation and supervision, and changes in laws or regulatory expectations could materially adversely affect its business.
- The CFPB may increase our regulatory compliance burden and could affect the consumer financial products and services that the Company offers.
- Legislation, regulatory, and governmental policy changes could materially affect the economy, the financial services industry and our business.
- Regulatory capital and liquidity requirements could require the Company to maintain higher levels of capital and liquid assets, which may adversely affect its profitability and business operations.
- Failure to maintain effective internal control over financial reporting and disclosure controls could materially adversely affect the Company’s financial condition and results of operations.
- Claims, litigation, and other legal proceedings could expose the Company to significant costs and liabilities and adversely affect its reputation, financial condition and results of operations.
- The Company’s risk management framework may not be effective in identifying or mitigating risks, which could adversely affect its financial condition and results of operations.
- The Company’s earnings and financial condition are significantly influenced by monetary and fiscal policies of the federal government and its agencies.
- Heightened scrutiny and evolving expectations regarding environmental, social and governance (“ESG”) matters may increase costs and expose the Company to additional risks.
- The development and use of Artificial Intelligence (“AI”) technologies present risks that could adversely affect the Company’s business, financial condition, and results of operations.
- The Company is subject to losses due to errors, omissions or fraud by its associates, clients, counterparties or other third parties.
- Risks Related to Owning the Company’s Stock
- The market price of the Company’s common stock may fluctuate significantly and could decline, which could result in losses to its investors.
- Future issuances of the Company’s common stock or securities convertible into common stock could dilute existing shareholders and adversely affect the market price of its common stock.
- The Company’s common stock is subordinate to its existing and future indebtedness and is structurally subordinated to the claims of the Bank’s creditors.
- The trading volumes in our common stock may not provide adequate liquidity for investors.
Legal proceedings
In the normal course of business, the Company is subject to various legal and administrative proceedings and claims. Legal and administrative proceedings are subject to inherent uncertainties and unfavorable rulings could occur, and the timing and outcome of any legal or administrative proceeding cannot be predicted with certainty. As of December 31, 2025, the Company is not involved in any material pending or threatened legal proceedings other than proceedings occurring in the ordinary course of business.
The opening of Item 3, Legal Proceedings.3
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARBradford N. Langs, President
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- 20SEC EDGARCurtis E. Stephens, Board member
- 21SEC EDGARJacob A. Lutz Iii., Board member
- 22SEC EDGARCatharine L. Midkiff, Board member
- 23SEC EDGARChester A. Gallimore, Board member
- 24SEC EDGAREdward Warren Matthews, Board member
- 25SEC EDGARElizabeth L. Walsh, Board member
- 26SEC EDGARJames W. Haskins, Board member
- 27SEC EDGARJoseph E. Pigg, Board member
- 28SEC EDGARKevin S. Bloomfield, Board member
- 29SEC EDGARLanny A. Kyle Jr., Board member
- 30SEC EDGARRobert M. Bolton, Board member
- 31SEC EDGARRobert W. Conner, Board member
- 32SEC EDGARGregory W. Feldmann, Board member
- 33SEC EDGARMichael R. Bird, Board member
- 34SEC EDGAROther events
- 35SEC EDGAROther events
- 36SEC EDGARRegulation FD disclosure
- 37SEC EDGARResults of operations
- 38SEC EDGAROther events
- 39SEC EDGARExecutive or director change
- 40SEC EDGARShareholder vote
- 41SEC EDGARRegulation FD disclosure
- 42SEC EDGAROther events
- 43SEC EDGARRegulation FD disclosure
- 44SEC EDGARResults of operations
- 45SEC EDGAROther events
- 46NasdaqNasdaq calendar
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