Carter Bankshares, Inc. (CARE)

Carter Bankshares Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	221.73	162.46	138.66	120.18	124.92
Interest Income on Investments	-	33.96	21.52	13.72	16.02
Total Interest Income	221.73	196.42	160.18	133.9	140.94
Interest Paid on Deposits	107.27	52.63	18.62	22.25	35.39
Interest Paid on Borrowings	-	21.48	1.64	0.47	0.44
Total Interest Expense	107.27	74.11	20.25	22.71	35.83
Net Interest Income	114.46	122.31	139.93	111.18	105.12
Net Interest Income Growth (YoY)	-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	-1.52	-0.58	5.16	5.79
Other Non-Interest Income	21.3	19.8	21.6	22.01	19.36
Total Non-Interest Income	21.37	18.28	21.1	27.17	25.39
Non-Interest Income Growth (YoY)	16.91%	-13.36%	-22.36%	7.01%	76.13%
Revenues Before Loan Losses	135.83	140.59	161.03	138.36	130.51
Provision for Loan Losses	-5.05	6.4	2.93	2.08	18.01
Revenue	140.87	134.19	158.1	136.28	112.5
Revenue Growth (YoY)	4.98%	-15.12%	16.01%	21.13%	-8.80%
Salaries and Employee Benefits	57.91	54.6	50.79	53.12	51.37
Occupancy Expenses	15.61	13.98	13.53	13.56	13.27
Federal Deposit Insurance	6.2	4.9	2.02	2.16	2.31
Selling, General & Administrative	14.53	14.97	14.7	13.21	12.71
Other Non-Interest Expense	15.76	15.91	14.92	14.91	13.64
Total Non-Interest Expense	110	105.47	96.38	100.58	95.4
EBT Excluding Unusual Items	30.87	28.72	61.72	35.7	17.11
Pretax Income	30.87	28.72	61.72	35.7	-45.09
Income Tax Expense	6.35	5.34	11.6	4.11	0.77
Net Income	24.52	23.38	50.12	31.59	-45.86
Preferred Dividends & Other Adjustments	-	0.2	0.3	0.13	-
Net Income to Common	24.52	23.19	49.82	31.46	-45.86
Net Income Growth	4.87%	-53.34%	58.65%	-	-
Basic Shares Outstanding	23	23	25	26	26
Diluted Shares Outstanding	23	23	25	26	26
Shares Change (YoY)	-1.82%	-5.51%	-6.63%	-0.14%	0.46%
EPS (Basic)	1.07	1.00	2.03	1.19	-1.74
EPS (Diluted)	1.06	1.00	2.03	1.19	-1.74
EPS Growth	6.24%	-50.75%	70.22%	-	-
Effective Tax Rate	20.56%	18.58%	18.79%	11.51%	-

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