Carter Bankshares, Inc. (CARE)

Carter Bankshares Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	182.87	162.46	138.66	120.18	124.92	136.54
Interest Income on Investments	34.22	33.96	21.52	13.72	16.02	22.58
Total Interest Income	217.09	196.42	160.18	133.9	140.94	159.12
Interest Paid on Deposits	86.96	52.63	18.62	22.25	35.39	46.66
Interest Paid on Borrowings	17.4	21.48	1.64	0.47	0.44	0.12
Total Interest Expense	104.36	74.11	20.25	22.71	35.83	46.77
Net Interest Income	112.73	122.31	139.93	111.18	105.12	112.35
Net Interest Income Growth (YoY)	-17.36%	-12.59%	25.85%	5.77%	-6.44%	-1.37%
Gain (Loss) on Sale of Assets	-	-	0.07	-	-0.1	-0.19
Gain (Loss) on Sale of Investments	-1.48	-1.52	-0.58	5.16	5.79	-0.06
Other Non-Interest Income	20.72	19.8	21.6	22.01	19.36	13.98
Total Non-Interest Income	19.25	18.28	21.1	27.17	25.39	14.42
Non-Interest Income Growth (YoY)	-5.76%	-13.36%	-22.36%	7.01%	76.13%	13.16%
Revenues Before Loan Losses	131.97	140.59	161.03	138.36	130.51	126.76
Provision for Loan Losses	3.47	6.4	2.93	2.08	18.01	3.4
Revenue	128.51	134.19	158.1	136.28	112.5	123.36
Revenue Growth (YoY)	-16.31%	-15.12%	16.01%	21.13%	-8.80%	12.38%
Salaries and Employee Benefits	56.2	54.6	50.79	53.12	51.37	52.5
Occupancy Expenses	14.92	13.98	13.53	13.56	13.27	11.75
Federal Deposit Insurance	6.98	4.9	2.02	2.16	2.31	1.27
Selling, General & Administrative	16.06	14.97	14.7	13.21	12.71	10.84
Other Non-Interest Expense	14.95	15.91	14.92	14.91	13.64	13.96
Total Non-Interest Expense	110.21	105.47	96.38	100.58	95.4	95.58
EBT Excluding Unusual Items	18.3	28.72	61.72	35.7	17.11	27.78
Pretax Income	18.3	28.72	61.72	35.7	-45.09	27.78
Income Tax Expense	3.94	5.34	11.6	4.11	0.77	1.21
Net Income	14.36	23.38	50.12	31.59	-45.86	26.58
Preferred Dividends & Other Adjustments	0.15	0.2	0.3	0.13	-	0.07
Net Income to Common	14.2	23.19	49.82	31.46	-45.86	26.51
Net Income Growth	-64.89%	-53.34%	58.65%	-	-	123.23%
Basic Shares Outstanding	23	23	25	26	26	26
Diluted Shares Outstanding	23	23	25	26	26	26
Shares Change (YoY)	-3.14%	-5.51%	-6.63%	-0.14%	0.46%	-0.00%
EPS (Basic)	0.62	1.00	2.03	1.19	-1.74	1.01
EPS (Diluted)	0.62	1.00	2.03	1.19	-1.74	1.01
EPS Growth	-63.97%	-50.75%	70.22%	-	-	124.34%
Effective Tax Rate	21.54%	18.58%	18.79%	11.51%	-	4.35%

Source: S&P Capital IQ. Banks template. Financial Sources.