Carter Bankshares, Inc.
CARE Nasdaq National Commercial Banks Financials FY2019–FY2025
Revenue
Total sales reported in the income statement.
$20.3M
4.6%
vs prior year
Efficiency ratio
Noninterest expense as a share of revenue. Lower is better for banks.
576.2%
9.6 pts
Net income
Profit after all expenses, interest and tax.
$31.4M
27.9%
Return on equity
Net income as a share of average shareholders' equity.
7.8%
1.1 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $5.81 EPS (TTM)
What Carter Bankshares, Inc. does
No business description yet.
- Legal name
- Carter Bankshares, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 5, 2026
- Accession · CIK
- 0001829576-26-000018
0001829576
Revenue and margins
Carter Bankshares, Inc. had $20.3M of revenue in fiscal 2025, up 4.6% on the year before.
FY19
Revenue $12.8M
FY20
Revenue $18.0M
FY21
Revenue $17.5M
FY22
Revenue $18.3M
FY23
Revenue $17.3M
FY24
Revenue $19.4M
FY25
Revenue $20.3M
Q3 '23
Revenue $32.7M
Q4 '23
Revenue $30.7M
Q1 '24
Revenue $33.5M
Q2 '24
Revenue $33.6M
Q3 '24
Revenue $34.2M
Q4 '24
Revenue $34.5M
Q1 '25
Revenue $37.0M
Q2 '25
Revenue $37.3M
Q3 '25
Revenue $39.1M
Q4 '25
Revenue $39.8M
Q1 '26
Revenue $107M
Q2 '26
Revenue $68.7M
FY19
Net interest share 878.9%
Efficiency ratio 766.9%
FY20
Net interest share 584.3%
Efficiency ratio 882.5%
FY21
Net interest share 635.8%
Efficiency ratio 585.0%
FY22
Net interest share 763.3%
Efficiency ratio 529.1%
FY23
Net interest share 708.3%
Efficiency ratio 610.8%
FY24
Net interest share 589.6%
Efficiency ratio 566.6%
FY25
Net interest share 644.0%
Efficiency ratio 576.2%
Net interest share
Efficiency ratio
Q3 '23
Net interest share 83.9%
Efficiency ratio 83.5%
Q4 '23
Net interest share 89.4%
Efficiency ratio 94.8%
Q1 '24
Net interest share 84.9%
Efficiency ratio 78.5%
Q2 '24
Net interest share 83.5%
Efficiency ratio 81.6%
Q3 '24
Net interest share 84.2%
Efficiency ratio 80.2%
Q4 '24
Net interest share 84.4%
Efficiency ratio 83.6%
Q1 '25
Net interest share 81.4%
Efficiency ratio 75.7%
Q2 '25
Net interest share 86.8%
Efficiency ratio 78.6%
Q3 '25
Net interest share 86.3%
Efficiency ratio 73.4%
Q4 '25
Net interest share 86.9%
Efficiency ratio 77.8%
Q1 '26
Net interest share 33.6%
Efficiency ratio 29.0%
Q2 '26
Net interest share 58.2%
Efficiency ratio 43.7%
Net interest share
Efficiency ratio
Net income and earnings per share
From fiscal 2019 to 2025, diluted EPS grew 5.3% a year. Loss periods are shown in red.
FY19
Net income $26.6M
FY20
Net income −$45.9M
FY21
Net income $31.6M
FY22
Net income $50.1M
FY23
Net income $23.4M
FY24
Net income $24.5M
FY25
Net income $31.4M
Q3 '23
Net income $3.6M
Q4 '23
Net income −$1.9M
Q1 '24
Net income $5.8M
Q2 '24
Net income $4.8M
Q3 '24
Net income $5.6M
Q4 '24
Net income $8.3M
Q1 '25
Net income $9.0M
Q2 '25
Net income $8.5M
Q3 '25
Net income $5.4M
Q4 '25
Net income $8.5M
Q1 '26
Net income $85.8M
Q2 '26
Net income $28.9M
FY19
Diluted EPS $1.01
FY20
Diluted EPS −$1.74
FY21
Diluted EPS $1.19
FY22
Diluted EPS $2.03
FY23
Diluted EPS $1.00
FY24
Diluted EPS $1.06
FY25
Diluted EPS $1.38
Q3 '23
Diluted EPS $0.16
Q4 '23
Diluted EPS −$0.07
Q1 '24
Diluted EPS $0.25
Q2 '24
Diluted EPS $0.21
Q3 '24
Diluted EPS $0.24
Q4 '24
Diluted EPS $0.36
Q1 '25
Diluted EPS $0.39
Q2 '25
Diluted EPS $0.37
Q3 '25
Diluted EPS $0.24
Q4 '25
Diluted EPS $0.38
Q1 '26
Diluted EPS $3.88
Q2 '26
Diluted EPS $1.31
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
FY19
ROE 5.6%
ROTE 5.6%
Efficiency ratio 766.9%
FY20
ROE −10.0%
ROTE −10.4%
Efficiency ratio 882.5%
FY21
ROE 7.5%
ROTE 7.7%
Efficiency ratio 585.0%
FY22
ROE 13.6%
ROTE 15.2%
Efficiency ratio 529.1%
FY23
ROE 6.9%
ROTE 6.6%
Efficiency ratio 610.8%
FY24
ROE 6.7%
ROTE 6.3%
Efficiency ratio 566.6%
FY25
ROE 7.8%
ROTE 7.4%
Efficiency ratio 576.2%
ROE
ROTE
Efficiency ratio
Dividends, buybacks and share count
Carter Bankshares, Inc. returned $20.0M to shareholders in fiscal 2025, 63% of free cash flow. The diluted share count fell 1.6%.
FY19
Dividends $0.0M
Buybacks $0.0M
FY20
Dividends $3.7M
Buybacks $0.0M
FY21
Dividends $0.0M
Buybacks $0.2M
FY22
Dividends $0.0M
Buybacks $42.9M
FY23
Dividends —
Buybacks $16.4M
FY24
Dividends —
Buybacks $0.0M
FY25
Dividends —
Buybacks $20.0M
Dividends
Buybacks
Q3 '23
Dividends —
Buybacks $6.3M
Q4 '23
Dividends —
Buybacks $0.0M
Q1 '24
Dividends —
Buybacks $0.0M
Q2 '24
Dividends —
Buybacks $0.0M
Q3 '24
Dividends —
Buybacks $0.0M
Q4 '24
Dividends —
Buybacks $0.0M
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks $4.9M
Q4 '25
Dividends —
Buybacks $6.0M
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.02B
FY23
Diluted shares 0.02B
FY24
Diluted shares 0.02B
FY25
Diluted shares 0.02B
Balance sheet
Loans, deposits and capital at each fiscal year end.
FY19
Loans —
Deposits —
FY20
Loans $2.9B
Deposits $3.7B
FY21
Loans $2.7B
Deposits $3.7B
FY22
Loans $3.1B
Deposits $3.6B
FY23
Loans $3.4B
Deposits $3.7B
FY24
Loans $3.5B
Deposits $4.2B
FY25
Loans $3.8B
Deposits $4.2B
Loans
Deposits
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | $2.7B | $3.1B | $3.4B | $3.5B | $3.8B |
| Deposits | $3.7B | $3.6B | $3.7B | $4.2B | $4.2B |
| Loans / deposits | 73.4% | 84.1% | 91.6% | 85.5% | 90.4% |
| Total assets | $4.1B | $4.2B | $4.5B | $4.7B | $4.9B |
| Shareholders' equity | $408M | $329M | $351M | $384M | $420M |
| Goodwill | — | — | — | $0.0M | $1.2M |
| Intangible assets | — | — | — | $0.0M | $0.9M |
| Provision / loans | 0.1% | 0.1% | 0.2% | −0.1% | −0.1% |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
7 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $12.8M | $18.0M | $17.5M | $18.3M | $17.3M | $19.4M | $20.3M |
| Net interest income | $112M | $105M | $111M | $140M | $122M | $114M | $131M |
| Noninterest income | $16.9M | $26.6M | $28.9M | $21.7M | $18.3M | $21.4M | $22.4M |
| Noninterest expense | $98.0M | $159M | $102M | $97.0M | $105M | $110M | $117M |
| Provision for credit losses | $3.4M | $18.0M | $2.1M | $2.9M | $6.4M | −$5.0M | −$3.8M |
| Interest expense | $46.8M | $35.8M | $22.7M | $20.3M | $74.1M | — | — |
| Pretax income | $27.8M | −$45.1M | $35.7M | $61.7M | $28.7M | $30.9M | $40.0M |
| Income tax | $1.2M | $0.8M | $4.1M | $11.6M | $5.3M | $6.3M | $8.6M |
| Net income | $26.6M | −$45.9M | $31.6M | $50.1M | $23.4M | $24.5M | $31.4M |
| Net income to common | $26.5M | −$45.9M | $31.5M | $49.8M | $23.2M | $24.3M | $31.0M |
| Diluted EPS | $1.01 | −$1.74 | $1.19 | $2.03 | $1.00 | $1.06 | $1.38 |
| Diluted shares | 0.03B | 0.03B | 0.03B | 0.02B | 0.02B | 0.02B | 0.02B |
| Cash flow | |||||||
| Cash from operations | $38.3M | $7.7M | $77.5M | $70.8M | $46.7M | $36.9M | $39.9M |
| Capital expenditure | $8.5M | $10.1M | $8.5M | $5.9M | $9.8M | $8.1M | $8.1M |
| Free cash flow | $29.8M | −$2.4M | $69.1M | $64.9M | $36.9M | $28.8M | $31.8M |
| Depreciation and amortization | $5.3M | $6.1M | $6.2M | $6.1M | $6.2M | $7.1M | $7.9M |
| Stock-based compensation | $0.4M | $1.0M | $1.0M | $1.3M | $1.6M | $1.8M | $2.1M |
| Acquisitions | — | — | — | — | $0.0M | $0.0M | −$53.6M |
| Share buybacks | $0.0M | $0.0M | $0.2M | $42.9M | $16.4M | $0.0M | $20.0M |
| Dividends paid | $0.0M | $3.7M | $0.0M | $0.0M | — | — | — |
| Dividends and buybacks | $0.0M | $3.7M | $0.2M | $42.9M | $16.4M | $0.0M | $20.0M |
| Balance sheet | |||||||
| Cash and short-term investments | $126M | $242M | $278M | $46.9M | $54.5M | $131M | $105M |
| Finance lease liabilities | — | — | — | — | $7.3M | $10.1M | $9.9M |
| Loans, net | — | $2.9B | $2.7B | $3.1B | $3.4B | $3.5B | $3.8B |
| Deposits | — | $3.7B | $3.7B | $3.6B | $3.7B | $4.2B | $4.2B |
| Property and equipment, net | — | $85.3M | $75.3M | $72.1M | $73.7M | $74.3M | $72.5M |
| Goodwill | — | — | — | — | — | $0.0M | $1.2M |
| Intangible assets | — | — | — | — | — | $0.0M | $0.9M |
| Total assets | — | $4.2B | $4.1B | $4.2B | $4.5B | $4.7B | $4.9B |
| Total liabilities | — | $3.7B | $3.7B | $3.9B | $4.2B | $4.3B | $4.4B |
| Shareholders' equity | $473M | $440M | $408M | $329M | $351M | $384M | $420M |
| Margins | |||||||
| Net margin | 207.9% | −254.9% | 180.7% | 273.4% | 135.4% | 126.3% | 154.4% |
| FCF margin | 233.4% | −13.4% | 394.9% | 354.0% | 213.9% | 148.4% | 156.6% |
| Net interest share of revenue | 878.9% | 584.3% | 635.8% | 763.3% | 708.3% | 589.6% | 644.0% |
| Efficiency ratio | 766.9% | 882.5% | 585.0% | 529.1% | 610.8% | 566.6% | 576.2% |
| Returns | |||||||
| Return on equity | 5.6% | −10.0% | 7.5% | 13.6% | 6.9% | 6.7% | 7.8% |
| Return on assets | — | −1.1% | 0.8% | 1.2% | 0.5% | 0.5% | 0.7% |
| Return on tangible equity | 5.6% | −10.4% | 7.7% | 15.2% | 6.6% | 6.3% | 7.4% |
| Growth | |||||||
| Revenue growth | — | 40.8% | −2.8% | 4.8% | −5.8% | 12.4% | 4.6% |
| Net income growth | — | −272.6% | — | 58.7% | −53.3% | 4.9% | 27.9% |
| EPS growth | — | −272.3% | — | 70.6% | −50.7% | 6.0% | 30.2% |
| FCF growth | — | −108.1% | — | −6.0% | −43.1% | −22.0% | 10.4% |
| Share count change | — | 0.5% | −0.1% | −6.6% | −5.5% | −1.8% | −1.6% |
| Financial health | |||||||
| Loans / deposits | — | 78.5% | 73.4% | 84.1% | 91.6% | 85.5% | 90.4% |
| Provision / loans | — | 0.6% | 0.1% | 0.1% | 0.2% | −0.1% | −0.1% |
| Capital allocation | |||||||
| Capex / revenue | 66.1% | 56.3% | 48.5% | 32.1% | 56.7% | 41.9% | 39.7% |
| Stock comp / revenue | 3.0% | 5.6% | 5.9% | 7.2% | 9.0% | 9.0% | 10.2% |
| Payouts / FCF | 0.0% | — | 0.2% | 66.1% | 44.4% | 0.0% | 62.9% |
| Quality scores | |||||||
| Accruals ratio | — | −1.3% | −1.1% | −0.5% | −0.5% | −0.3% | −0.2% |
Source: SEC EDGAR XBRL filings (CIK 0001829576). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.