Carter Bankshares, Inc. (CARE)

In Q1 2026, net income increased to $85.8 million due to a major credit resolution. The company sold problematic loans, generating a $65.0 million gain and a $15.0 million net recovery. A quarterly dividend was declared. The sale of Bearing Insurance Group, LLC, is expected to result in a $35.8 million pre-tax gain. Carter Bank earned industry awards following a rebrand, expanded into South Carolina, and joined the Federal Reserve Bank of Richmond.

Information regarding specific demand seasonality for Carter Bankshares, Inc.'s products and services was not explicitly available. Demand for its services may be influenced by general economic conditions, interest rate cycles, and local market dynamics rather than distinct seasonal patterns.

Carter Bankshares, Inc. is a bank holding company operating through Carter Bank & Trust, offering commercial and consumer banking, mortgage, and insurance services. Its products include deposit services like checking, savings, and retirement accounts, and lending services such as commercial, real estate, and consumer loans. They also provide services like safe deposit boxes, direct deposit, debit cards, and online banking.

Carter Bankshares, Inc. operates a network of 63 to 69 branches concentrated in Virginia and North Carolina, supporting its community-oriented, relationship-banking model.

Carter Bankshares, Inc. has experienced positive recognition, earning multiple industry awards following a 2024 rebrand. No specific negative events significantly impacted the company's brand reputation within the past year were identified.

Carter Bankshares, Inc. has a mixed ownership structure. Institutional investors hold a significant portion, ranging from approximately 29.84% to 52.96%. Individual investors account for approximately 4.33% of ownership, while retail investors hold around 66.34%. Insiders own approximately 3.82% of the stock.