Carter Bankshares Inc (CARE) Faces Net Loss in Q4 2023 Amid Nonaccrual Loan Challenges [Yahoo! Finance]
Carter Bankshares, Inc. (CARE)
NASDAQ:AMEX Investor Relations:
carterbankandtrust.com
Company Research
Source: Yahoo! Finance
Annual Net Income Decrease : Full-year net income fell to $23.4 million in 2023 from $50.1 million in 2022. Interest Income Impacted : Nonaccrual loans led to a $30.0 million reduction in interest income for the year. Loan Growth : Despite challenges, total portfolio loans grew by 11.3% year-over-year. Deposit Increase : Total deposits rose by 2.5% compared to the previous year. Efficiency Ratio Deterioration : The efficiency ratio worsened to 94.8% in Q4 2023 from 58.7% in Q4 2022. Warning! GuruFocus has detected 1 Warning Sign with CARE. On January 25, 2024, Carter Bankshares Inc ( NASDAQ:CARE ) released its 8-K filing , revealing a challenging fourth quarter and full year 2023. The bank holding company, which operates through Carter Bank & Trust, reported a net loss of $1.9 million for the fourth quarter, a significant downturn from the $15.6 million net income in the same period of the previous year. The full-year net income also decreased to $23.4 million from $50.1
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News
- Compared to Estimates, Carter Bankshares (CARE) Q1 Earnings: A Look at Key Metrics [Yahoo! Finance]Yahoo! Finance
- Carter Bankshares, Inc. Announces First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- Carter Bankshares, Inc. Announces First Quarter 2024 Financial ResultsAccesswire
- Carter Bankshares, Inc.'s (NASDAQ:CARE) top owners are individual investors with 54% stake, while 42% is held by institutions [Yahoo! Finance]Yahoo! Finance
- Carter Bank Introduces Carter ZEscrow [Yahoo! Finance]Yahoo! Finance
CARE
Earnings
- 4/25/24 - Beat
CARE
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEF
- 4/25/24 - Form 8-K
- CARE's page on the SEC website