Carter Bankshares, Inc. (CARE) Financial Statements
Industry: National Commercial Banks
In fiscal 2025, Carter Bankshares reported revenue of $153.2M, up 12.8% from $135.8M the year before. Net income was $31.4M (a 20.5% net margin), or $1.38 per diluted share. Net interest income was $130.8M, and the efficiency ratio (noninterest expense / revenue) was 76.4%. Operating activities generated $39.9M of cash, leaving $31.8M of free cash flow. At fiscal year end, Carter Bankshares held $4.85B in total assets against $4.43B in total liabilities.
Open the full interactive Carter Bankshares financials → Quarterly statements, key ratios, valuation history and price charts.
Carter Bankshares Key Stats
| Share Price | $30.19 |
|---|---|
| Market Cap | $659.3M |
| P/E Ratio | 21.9 |
| Revenue YoY Growth | +12.8% |
| 52-Week Range | $16.84 – $35.61 |
| Shares Outstanding | 21.8 million (basic, 2026 Q2) |
Carter Bankshares Income Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Net Interest Income | $111.2M | $139.9M | $122.3M | $114.5M | $130.8M |
| Provision for Credit Losses | $2.1M | $2.9M | $6.4M | -$5.0M | -$3.8M |
| Noninterest Income | $28.9M | $21.7M | $18.3M | $21.4M | $22.4M |
| Noninterest Expense | $102.3M | $97.0M | $105.5M | $110.0M | $117.1M |
| Revenue | $140.1M | $161.6M | $140.6M | $135.8M | $153.2M |
| Pre-Tax Income | $35.7M | $61.7M | $28.7M | $30.9M | $40.0M |
| Income Tax | $4.1M | $11.6M | $5.3M | $6.3M | $8.6M |
| Net Income | $31.6M | $50.1M | $23.4M | $24.5M | $31.4M |
| Diluted EPS | $1.19 | $2.03 | $1.00 | $1.06 | $1.38 |
Carter Bankshares Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $39.1M | $39.8M | $106.9M | $68.7M |
| Net Income | $5.4M | $8.5M | $85.8M | $28.9M |
| Diluted EPS | $0.24 | $0.38 | $3.88 | $1.31 |
Carter Bankshares Balance Sheet
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash & Equivalents | $277.8M | — | — | — | — |
| Loans (Net) | $2.72B | $3.06B | $3.41B | $3.55B | $3.81B |
| Total Assets | $4.13B | $4.20B | $4.51B | $4.66B | $4.85B |
| Deposits | $3.70B | $3.63B | $3.72B | $4.15B | $4.21B |
| Total Long-Term Debt | $7.0M | $180.6M | $393.4M | $70.0M | $178.5M |
| Total Liabilities | $3.73B | $3.88B | $4.16B | $4.27B | $4.43B |
| Shareholders' Equity | $407.6M | $328.6M | $351.2M | $384.3M | $419.7M |
Carter Bankshares Cash Flow Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Cash From Operations | $77.5M | $70.8M | $46.7M | $36.9M | $39.9M |
| Cash From Investing | -$106.4M | -$382.1M | -$307.0M | -$68.4M | -$155.9M |
| Cash From Financing | $64.7M | $80.3M | $267.9M | $108.1M | $90.0M |
| Free Cash Flow | $69.1M | $64.9M | $36.9M | $28.8M | $31.8M |
| Dividends Paid | $0 | $0 | — | — | — |
Figures from Carter Bankshares' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Carter Bankshares financials page for every line item.
Carter Bankshares Company Profile
| Ticker | CARE |
|---|---|
| Exchange | Nasdaq |
| Industry | National Commercial Banks |
| Headquarters | Martinsville, Virginia |
| Incorporated in | Virginia |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001829576 |
Frequently Asked Questions
What was Carter Bankshares' revenue in fiscal 2025?
Carter Bankshares (CARE) reported revenue of $153.2M for fiscal 2025.
What is Carter Bankshares' annual revenue history?
Carter Bankshares' annual revenue by fiscal year: 2021: $140.1M; 2022: $161.6M; 2023: $140.6M; 2024: $135.8M; 2025: $153.2M.
What was Carter Bankshares' net income in fiscal 2025?
Carter Bankshares reported net income of $31.4M for fiscal 2025.
What was Carter Bankshares' earnings per share (EPS) in fiscal 2025?
Carter Bankshares' diluted EPS was $1.38 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Carter Bankshares generate in fiscal 2025?
Carter Bankshares generated $31.8M of free cash flow in fiscal 2025.
What was Carter Bankshares' revenue last quarter?
In its most recent reported quarter (2026 Q2), Carter Bankshares reported revenue of $68.7M.
How much debt does Carter Bankshares have?
Carter Bankshares reported $178.5M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Carter Bankshares are outstanding?
Carter Bankshares reported a weighted average of 21.8 million basic shares outstanding in 2026 Q2.
What is Carter Bankshares' market cap?
Based on its latest closing price, Carter Bankshares (CARE) has a market capitalization of about $659.3M.
When does Carter Bankshares' fiscal year end?
Carter Bankshares' fiscal year end, as registered with the SEC, is December 31.
Where is Carter Bankshares headquartered?
Carter Bankshares lists its business address in Martinsville, Virginia in its SEC filings.