Carter Bankshares, Inc. (CARE)

Carter Bankshares Income Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	175.42	162.46	138.66	120.18	124.92	136.54
Interest Income on Investments	33.96	33.96	21.52	13.72	16.02	22.58
Total Interest Income	209.38	196.42	160.18	133.9	140.94	159.12
Interest Paid on Deposits	76.57	52.63	18.62	22.25	35.39	46.66
Interest Paid on Borrowings	21.48	21.48	1.64	0.47	0.44	0.12
Total Interest Expense	98.06	74.11	20.25	22.71	35.83	46.77
Net Interest Income	111.33	122.31	139.93	111.18	105.12	112.35
Net Interest Income Growth (YoY)	-24.14%	-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	20.57	19.8	21.6	22.01	19.36	13.98
Total Non-Interest Income	19.09	18.28	21.1	27.17	25.39	14.42
Non-Interest Income Growth (YoY)	-9.73%	-13.36%	-22.36%	7.01%	76.13%	13.16%
Revenues Before Loan Losses	130.42	140.59	161.03	138.36	130.51	126.76
Provision for Loan Losses	4.69	6.4	2.93	2.08	18.01	3.4
Revenue	125.73	134.19	158.1	136.28	112.5	123.36
Revenue Growth (YoY)	-24.03%	-15.12%	16.01%	21.13%	-8.80%	12.38%
Salaries and Employee Benefits	55.71	54.6	50.79	53.12	51.37	52.5
Federal Deposit Insurance	6.81	4.9	2.02	2.16	2.31	1.27
Selling, General & Administrative	15.92	14.97	14.7	13.21	12.71	10.84
Other Non-Interest Expense	16	15.91	14.92	14.91	13.64	13.96
Total Non-Interest Expense	110.06	105.47	96.38	100.58	95.4	95.58
EBT Excluding Unusual Items	15.68	28.72	61.72	35.7	17.11	27.78
Pretax Income	15.68	28.72	61.72	35.7	-45.09	27.78
Income Tax Expense	3.32	5.34	11.6	4.11	0.77	1.21
Earnings From Continuing Operations	12.35	23.38	50.12	31.59	-45.86	26.58
Net Income to Common	12.16	23.19	49.82	31.46	-45.86	26.51
Basic Shares Outstanding	23	23	25	26	26	26
Diluted Shares Outstanding	23	23	25	26	26	26
Shares Change (YoY)	-4.37%	-5.51%	-6.63%	-0.14%	0.46%	-0.00%
EPS (Basic)	0.53	1.00	2.03	1.19	-1.74	1.01
EPS (Diluted)	0.53	1.00	2.03	1.19	-1.74	1.01
EPS Growth	-75.23%	-50.75%	70.22%	-	-	124.34%
Effective Tax Rate	21.20%	18.58%	18.79%	11.51%	-	4.35%

Source: S&P Capital IQ. Banks template.