Carter Bankshares, Inc. ( (CARE) ) has released its Q2 earnings. Here is a breakdown of the information Carter Bankshares, Inc. presented to its investors.
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Carter Bankshares, Inc., headquartered in Martinsville, VA, operates as a holding company for Carter Bank, providing a comprehensive range of commercial and consumer banking services across Virginia and North Carolina. In its latest earnings report for the second quarter of 2025, Carter Bankshares, Inc. reported a net income of $8.5 million, or $0.37 per diluted share, marking a slight decrease from the previous quarter but a significant increase from the same period last year. The company also highlighted a successful acquisition of two branch facilities and a stock repurchase program as part of its strategic initiatives. Key financial metrics showed growth in net interest income, which rose to $32.4 million, reflecting a 7.4% increase from the prior quarter and a 15.2% increase year-over-year. The company’s total portfolio loans grew by 6.5% on an annualized basis, and total deposits increased by 2.0% compared to the previous quarter. However, the company continues to face challenges with its largest credit relationship, which remains on nonaccrual status, impacting interest income. Looking ahead, Carter Bankshares remains optimistic about its growth prospects, with expectations of continued loan growth and potential benefits from any Federal Reserve interest rate cuts, positioning the company for a strong performance in the remainder of 2025.