Carter Bankshares Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
CARE$29.48+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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ITEM 1. – FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS
| (Dollars in Thousands Except per Share Data) | September 30, 2024 (unaudited) | December 31, 2023 (audited) |
|---|---|---|
| ASSETS | ||
| Cash and Due From Banks, including Interest-bearing Deposits of $61,603 at September 30, 2024 and $14,853 at December 31, 2023 | $104,992 | $54,529 |
| Securities Available-for-Sale, at Fair Value (amortized cost of $810,935 and $870,546, respectively) | 742,635 | 779,003 |
| Equity Securities | 5,207 | — |
| Loans Held-for-Sale | 390 | — |
| Portfolio Loans | 3,595,861 | 3,505,910 |
| Allowance for Credit Losses | (80,909) | (97,052) |
| Portfolio Loans, net | 3,514,952 | 3,408,858 |
| Bank Premises and Equipment, net | 73,433 | 73,707 |
| Other Real Estate Owned, net | 1,512 | 2,463 |
| Federal Home Loan Bank Stock, at Cost | 7,437 | 21,626 |
| Bank Owned Life Insurance | 59,203 | 58,115 |
| Other Assets | 103,674 | 114,238 |
| Total Assets | $4,613,435 | $4,512,539 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-Bearing Demand | $628,901 | $685,218 |
| Interest-Bearing Demand | 649,005 | 481,506 |
| Money Market | 504,206 | 513,664 |
| Savings | 372,881 | 454,876 |
| Certificates of Deposit | 1,930,075 | 1,586,651 |
| Total Deposits | 4,085,068 | 3,721,915 |
| Federal Home Loan Bank Borrowings | 90,000 | 393,400 |
| Reserve for Unfunded Commitments | 3,105 | 3,193 |
| Other Liabilities | 48,437 | 42,788 |
| Total Liabilities | 4,226,610 | 4,161,296 |
| SHAREHOLDERS’ EQUITY | ||
| Common Stock, Par Value $1.00 per share,Authorized 100,000,000 Shares;Outstanding shares 23,072,014 at September 30, 2024 and 22,956,304 at December 31, 2023 | 23,072 | 22,957 |
| Additional Paid-in Capital | 91,732 | 90,642 |
| Retained Earnings | 325,326 | 309,083 |
| Accumulated Other Comprehensive Loss | (53,305) | (71,439) |
| Total Shareholders’ Equity | 386,825 | 351,243 |
| Total Liabilities and Shareholders’ Equity | $4,613,435 | $4,512,539 |
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