Carter Bankshares, Inc. (CARE)

Carter Bankshares Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	190.61	188.65	162.46	138.66	120.18	124.92
Interest Income on Investments	33.08	33.08	33.96	21.52	13.72	16.02
Total Interest Income	223.69	221.73	196.42	160.18	133.9	140.94
Interest Paid on Deposits	95.67	95.43	52.63	18.62	22.25	35.39
Interest Paid on Borrowings	11.84	11.84	21.48	1.64	0.47	0.44
Total Interest Expense	107.51	107.27	74.11	20.25	22.71	35.83
Net Interest Income	116.18	114.46	122.31	139.93	111.18	105.12
Net Interest Income Growth (YoY)	5.67%	-6.42%	-12.59%	25.85%	5.77%	-6.44%
Gain (Loss) on Sale of Assets	-	-	-	0.07	-	-0.1
Gain (Loss) on Sale of Investments	0.07	0.07	-1.52	-0.58	5.16	5.79
Other Non-Interest Income	23.16	21.3	19.8	21.6	22.01	19.36
Total Non-Interest Income	23.22	21.37	18.28	21.1	27.17	25.39
Non-Interest Income Growth (YoY)	24.94%	16.91%	-13.36%	-22.36%	7.01%	76.13%
Revenues Before Loan Losses	139.4	135.83	140.59	161.03	138.36	130.51
Provision for Loan Losses	-7.16	-5.05	6.4	2.93	2.08	18.01
Revenue	146.56	140.87	134.19	158.1	136.28	112.5
Revenue Growth (YoY)	18.52%	4.98%	-15.12%	16.01%	21.13%	-8.80%
Salaries and Employee Benefits	55.41	55.96	54.6	51.09	53.12	51.37
Occupancy Expenses	16.21	15.48	13.98	13.53	13.56	13.27
Federal Deposit Insurance	5.94	6.2	4.9	2.02	2.16	2.31
Selling, General & Administrative	17.31	16.6	14.97	14.4	13.21	12.71
Other Non-Interest Expense	16.91	15.76	17.01	15.36	14.91	13.64
Total Non-Interest Expense	111.79	110	105.47	96.38	100.58	95.4
EBT Excluding Unusual Items	34.77	30.87	28.72	61.72	35.7	17.11
Pretax Income	34.77	30.87	28.72	61.72	35.7	-45.09
Income Tax Expense	7.11	6.35	5.34	11.6	4.11	0.77
Net Income	27.67	24.52	23.38	50.12	31.59	-45.86
Preferred Dividends & Other Adjustments	0.25	0.25	0.2	0.3	0.13	-
Net Income to Common	27.42	24.28	23.19	49.82	31.46	-45.86
Net Income Growth	108.73%	4.87%	-53.34%	58.65%	-	-
Basic Shares Outstanding	23	23	23	25	26	26
Diluted Shares Outstanding	23	23	23	25	26	26
Shares Change (YoY)	-0.64%	-1.82%	-5.51%	-6.63%	-0.14%	0.46%
EPS (Basic)	1.20	1.06	1.00	2.03	1.19	-1.74
EPS (Diluted)	1.20	1.06	1.00	2.03	1.19	-1.74
EPS Growth	112.13%	6.25%	-50.75%	70.22%	-	-
Effective Tax Rate	20.44%	20.56%	18.58%	18.79%	11.51%	-

Updated Apr 24, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q