Carter Bankshares, Inc. (CARE)

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Carter Bankshares, Inc.

CARE • CIK 0001829576

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest Income (Expense), Net	$122,310	$114,457	$130,820	$144,207
Interest Income, Deposits with Financial Institutions	$64	$85	$268	$1,460
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal	$5,500	$-5,039	$-3,637	$-31,189
Dividend Income, Operating	$1,456	$1,012	$616	$737
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)	$901	$-7	$-194	$-517
Interest and Dividend Income, Operating	$196,420	$221,729	$232,222	$239,144
Interest Income (Expense), after Provision for Loan Loss	$115,909	$119,503	$134,651	$175,913
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$28,721	$30,869	$40,001	$165,506
Income Tax Expense (Benefit)	$5,337	$6,346	$8,639	$36,939
Net Income (Loss) Attributable to Parent	$23,384	$24,523	$31,362	$128,567
Interest Income, Securities, Operating, Taxable	$30,804	$29,510	$26,288	$23,742
Interest Expense, Deposits	$52,628	$95,431	$96,184	$90,059
Interest Income, Securities, Operating, Tax Exempt	$634	$269	$265	$583
Interest Expense, Federal Funds Purchased	$368	$0	$0	$0
Interest Expense, Long-term Debt and Capital Securities	$21,114	$11,841	$5,218	$4,878
InterestExpenseOperating	—	$107,272	$101,402	$94,937
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-1,521	$68	$46	$-12,405
Bank Owned Life Insurance Income	$1,381	$1,473	$1,511	$1,706
Noninterest Income, Other	$1,351	$906	$2,872	$869
Noninterest Income	$18,278	$21,368	$22,404	$110,299
Labor and Related Expense	$55,856	$57,908	$57,743	$58,970
Occupancy, Net	$14,028	$15,608	$17,620	$18,363
Federal Deposit Insurance Corporation Premium Expense	$4,904	$6,200	$5,843	$5,923
Taxes, Other	$3,282	$3,559	$3,612	$3,444
Advertising Expense	$1,693	$2,540	$3,171	$3,298
Communication	$1,842	$1,393	$1,216	$1,175
Professional Fees	$6,210	$5,675	$6,877	$7,325
Information Technology and Data Processing	$3,920	$4,919	$5,698	$6,889
Other Noninterest Expense	$9,756	$8,777	$11,082	$12,714
Noninterest Expense	$105,466	$110,002	$117,054	$120,706
Weighted Average Number of Shares Outstanding, Basic	23,240,543	22,817,149	22,456,705	21,459,790
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$-219	$-137	$-247	$-19

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$54,529	$131,171	$105,163	$41,101
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$779,003	$718,400	$691,612	$640,302
EquitySecuritiesFvNiCurrentAndNoncurrent	—	$10,041	$10,291	$12,676
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance	$0	$0	$339	$467
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$3,505,910	$3,624,826	$3,879,560	$3,734,594
Liabilities and Equity	$4,512,539	$4,659,189	$4,851,922	$4,801,883
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$97,052	$75,600	$71,491	$55,170
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$3,408,858	$3,549,226	$3,808,069	$3,679,424
Property, Plant and Equipment, Net	$73,707	$74,329	$72,497	$69,820
Goodwill	—	—	$1,193	$1,193
Finite-Lived Intangible Assets, Net	—	—	$940	$812
Other Real Estate	$2,463	$659	$142	$3,356
Other Restricted Assets	—	—	$16,830	$8,476
Bank Owned Life Insurance	$58,115	$59,588	$44,811	$45,704
Other Assets	$114,238	$109,288	$100,035	$63,118
Advances from Federal Home Loan Banks	$393,400	$70,000	$178,500	$0
Off-Balance Sheet, Credit Loss, Liability	$3,193	$3,186	$2,992	$2,220
Other Liabilities	$42,788	$48,269	$39,844	$62,961
Liabilities	$4,161,296	$4,274,876	$4,432,225	$4,262,737
Common Stock, Value, Issued	$22,957	$23,069	$22,083	$22,162
Additional Paid in Capital	$90,642	$92,159	$74,806	$72,505
Retained Earnings (Accumulated Deficit)	$309,083	$333,606	$364,968	$477,417
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-71,439	$-64,521	$-42,160	$-32,938
Stockholders' Equity Attributable to Parent	$351,243	$384,313	$419,697	$539,146
Noninterest-bearing Domestic Deposit, Demand	$685,218	$634,436	$620,473	$655,482
Interest-bearing Domestic Deposit, Demand	$481,506	$726,947	$808,171	$866,759
Deposits, Money Market Deposits	$513,664	$512,162	$553,964	$510,125
Deposits, Savings Deposits	$454,876	$355,506	$326,182	$318,774
Time Deposits	$1,586,651	$1,924,370	$1,902,099	$1,846,416
Deposits	$3,721,915	$4,153,421	$4,210,889	$4,197,556
Interest-bearing Deposits in Banks and Other Financial Institutions	$14,853	$91,563	$68,227	$167,427
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss	$870,546	$800,741	$745,366	$682,318
Common Stock, Shares Authorized	100,000,000	100,000,000	100,000,000	100,000,000
Common Stock, Shares, Outstanding	22,956,304	23,069,175	22,083,007	22,162,213
Common Stock, Shares, Issued	—	—	22,083,007	22,162,213

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss) Attributable to Parent	$23,384	$24,523	$31,362	$128,567
Net Cash Provided by (Used in) Operating Activities	$46,730	$36,938	$39,862	$67,256
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$7,660	$76,642	$-26,008	$176,630
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$54,529	$131,171	$105,163	$244,482
Provision for Loan, Lease, and Other Losses	$6,401	$-5,046	$-3,831	$-31,706
Payments for Origination and Purchases of Loans Held-for-sale	$6,758	$8,953	$29,524	$31,395
PaymentsToAcquireEquitySecuritiesFvNi	—	$10,000	$0	$2,500
Proceeds from Sale of Loans Held-for-sale	$6,867	$9,091	$29,342	$316,324
Payments to Acquire Property, Plant, and Equipment	$9,798	$8,133	$8,055	$8,500
Depreciation, Depletion and Amortization	$6,248	$7,055	$7,859	$8,293
Payments to Acquire Businesses, Net of Cash Acquired	—	—	$-53,573	$0
Deferred Income Tax Expense (Benefit)	$884	$2,689	$2,171	$5,818
Accretion (Amortization) of Discounts and Premiums, Investments	$-6,354	$-3,592	$-3,172	$-15,057
Payments to Acquire Loans Held-for-investment	$359,407	$135,888	$255,303	$199,033
Gain (Loss) on Sale of Mortgage Loans	$109	$138	$157	$157
Debt and Equity Securities, Gain (Loss)	$-1,521	$68	$46	$-12,405
Equity Securities, FV-NI, Unrealized Gain (Loss)	—	$41	$250	$-25
Net Cash Provided by (Used in) Investing Activities	$-307,011	$-68,402	$-155,911	$263,516
Gain (Loss) on Hedging Activity	$-219	$-12	$-107	$-19
Bank Owned Life Insurance Income	$1,381	$1,473	$1,511	$1,706
Increase (Decrease) in Derivative Assets	—	$-125	$-140	$0
Share-based Payment Arrangement, Noncash Expense	$1,561	$1,752	$2,071	$2,196
Increase (Decrease) in Other Operating Assets	$5,465	$-1,614	$-1,859	$-6,294
Increase (Decrease) in Other Operating Liabilities	$3,803	$1,687	$-2,329	$22,621
Increase (Decrease) in Other Deposits	$-235,748	$93,787	$29,811	$22,512
Proceeds from FHLBank Borrowings, Financing Activities	$212,850	$1,870,000	$610,000	$664,000
Payments of FHLBank Borrowings, Financing Activities	$28,000	$2,193,400	$501,500	$777,500
Increase (Decrease) in Federal Funds Purchased	$17,870	$0	$0	$0
Payments for Repurchase of Common Stock	$16,416	$0	$20,000	$13,740
Net Cash Provided by (Used in) Financing Activities	$267,941	$108,106	$90,041	$-154,142
Interest Paid, Excluding Capitalized Interest, Operating Activities	$69,116	$106,342	$102,649	$95,721
Income Taxes Paid	$5,718	$478	$3,717	$5,023
Real Estate Owned, Transfer to Real Estate Owned	$110	$1,181	$0	$2,937
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$0	$0	$1,041	$1,041
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$1,464	$2,995	$0	$-851
Proceeds from Sale of Debt Securities, Available-for-sale	$43,323	$17,953	$19,010	$161,293
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$48,901	$63,454	$96,923	$86,897
Payments to Acquire Debt Securities, Available-for-sale	$24,938	$15,126	$63,684	$135,544

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Import this data to Google Sheets with:

=jivedata("CARE","financials")

Full statements spill as a table. For one cell: =jivedata("CARE","Revenue") or =jivedata("CARE","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.