Carter Bankshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	232.22	188.65	162.46	138.66	120.18
Interest Income on Investments	-	33.08	33.96	21.52	13.72
Total Interest Income	232.22	221.73	196.42	160.18	133.9
Interest Paid on Deposits	101.4	95.43	52.63	18.62	22.25
Interest Paid on Borrowings	-	11.84	21.48	1.64	0.47
Total Interest Expense	101.4	107.27	74.11	20.25	22.71
Net Interest Income	130.82	114.46	122.31	139.93	111.18
Net Interest Income Growth (YoY)	14.30%	-6.42%	-12.59%	25.85%	5.77%
Gain (Loss) on Sale of Assets	-	-	-	0.07	-
Gain (Loss) on Sale of Investments	0.05	0.07	-1.52	-0.58	5.16
Other Non-Interest Income	22.36	21.3	19.8	21.6	22.01
Total Non-Interest Income	22.4	21.37	18.28	21.1	27.17
Non-Interest Income Growth (YoY)	4.85%	16.91%	-13.36%	-22.36%	7.01%
Revenues Before Loan Losses	153.22	135.83	140.59	161.03	138.36
Provision for Loan Losses	-3.83	-5.05	6.4	2.93	2.08
Revenue	157.06	140.87	134.19	158.1	136.28
Revenue Growth (YoY)	11.49%	4.98%	-15.12%	16.01%	21.13%
Salaries and Employee Benefits	57.74	55.96	54.6	51.09	53.12
Occupancy Expenses	17.62	15.48	13.98	13.53	13.56
Federal Deposit Insurance	5.84	6.2	4.9	2.02	2.16
Selling, General & Administrative	16.96	16.6	14.97	14.4	13.21
Other Non-Interest Expense	18.89	15.76	17.01	15.36	14.91
Total Non-Interest Expense	117.05	110	105.47	96.38	100.58
EBT Excluding Unusual Items	40	30.87	28.72	61.72	35.7
Pretax Income	40	30.87	28.72	61.72	35.7
Income Tax Expense	8.64	6.35	5.34	11.6	4.11
Net Income	31.36	24.52	23.38	50.12	31.59
Preferred Dividends & Other Adjustments	-	0.25	0.2	0.3	0.13
Net Income to Common	31.36	24.28	23.19	49.82	31.46
Net Income Growth	27.89%	4.87%	-53.34%	58.65%	-
Basic Shares Outstanding	22	23	23	25	26
Diluted Shares Outstanding	22	23	23	25	26
Shares Change (YoY)	-1.58%	-1.82%	-5.51%	-6.63%	-0.14%
EPS (Basic)	1.40	1.06	1.00	2.03	1.19
EPS (Diluted)	1.38	1.06	1.00	2.03	1.19
EPS Growth	30.19%	6.25%	-50.75%	70.22%	-
Effective Tax Rate	21.60%	20.56%	18.58%	18.79%	11.51%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.