Carter Bankshares Inc
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
CARE$29.48+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| (Dollars in Thousands Except per Share Data) | December 31,2023 | December 31,2022 |
|---|---|---|
| ASSETS | ||
| Cash and Due From Banks, including Interest-Bearing Deposits of $14,853 at December 31, 2023 and $4,505 at December 31, 2022 | $54,529 | $46,869 |
| Securities Available-for-Sale, at Fair Value (amortized cost of $870,546 and $945,707, respectively) | 779,003 | 836,273 |
| Loans Held-for-Sale | — | — |
| Portfolio Loans | 3,505,910 | 3,148,913 |
| Allowance for Credit Losses | (97,052) | (93,852) |
| Portfolio Loans, net | 3,408,858 | 3,055,061 |
| Bank Premises and Equipment, net | 73,707 | 72,114 |
| Other Real Estate Owned, net | 2,463 | 8,393 |
| Federal Home Loan Bank Stock, at Cost | 21,626 | 9,740 |
| Bank Owned Life Insurance | 58,115 | 56,734 |
| Other Assets | 114,238 | 119,335 |
| Total Assets | $4,512,539 | $4,204,519 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-Bearing Demand | $685,218 | $705,539 |
| Interest-Bearing Demand | 481,506 | 496,948 |
| Money Market | 513,664 | 484,238 |
| Savings | 454,876 | 684,287 |
| Certificates of Deposit | 1,586,651 | 1,261,526 |
| Total Deposits | 3,721,915 | 3,632,538 |
| Federal Home Loan Bank Borrowings | 393,400 | 180,550 |
| Federal Funds Purchased | — | 17,870 |
| Reserve for Unfunded Loan Commitments | 3,193 | 2,292 |
| Other Liabilities | 42,788 | 42,642 |
| Total Liabilities | 4,161,296 | 3,875,892 |
| Commitment and Contingencies - see NOTE 18. | ||
| SHAREHOLDERS’ EQUITY | ||
| Common Stock, Par Value $1.00 Per Share, Authorized 100,000,000 Shares; | ||
| Outstanding - 22,956,304 shares at December 31, 2023, and23,956,772 shares at December 31, 2022 | 22,957 | 23,957 |
| Additional Paid-in Capital | 90,642 | 104,693 |
| Retained Earnings | 309,083 | 285,593 |
| Accumulated Other Comprehensive Loss | (71,439) | (85,616) |
| Total Shareholders’ Equity | 351,243 | 328,627 |
| Total Liabilities and Shareholders’ Equity | $4,512,539 | $4,204,519 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.