Carter Bankshares Inc
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
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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Consolidated Balance Sheets
| (Dollars in Thousands Except per Share Data) | December 31,2024 | December 31,2023 |
|---|---|---|
| ASSETS | ||
| Cash and Due From Banks, including Interest-Bearing Deposits of $91,563 at December 31, 2024 and $14,853 at December 31, 2023 | $131,171 | $54,529 |
| Securities Available-for-Sale, at Fair Value (amortized cost of $800,741 and $870,546, respectively) | 718,400 | 779,003 |
| Equity Securities | 10,041 | — |
| Portfolio Loans | 3,624,826 | 3,505,910 |
| Allowance for Credit Losses | (75,600) | (97,052) |
| Portfolio Loans, net | 3,549,226 | 3,408,858 |
| Bank Premises and Equipment, net | 74,329 | 73,707 |
| Other Real Estate Owned, net | 659 | 2,463 |
| Federal Home Loan Bank Stock, at Cost | 6,487 | 21,626 |
| Bank Owned Life Insurance | 59,588 | 58,115 |
| Other Assets | 109,288 | 114,238 |
| Total Assets | $4,659,189 | $4,512,539 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-Bearing Demand | $634,436 | $685,218 |
| Interest-Bearing Demand | 726,947 | 481,506 |
| Money Market | 512,162 | 513,664 |
| Savings | 355,506 | 454,876 |
| Certificates of Deposit | 1,924,370 | 1,586,651 |
| Total Deposits | 4,153,421 | 3,721,915 |
| Federal Home Loan Bank Borrowings | 70,000 | 393,400 |
| Reserve for Unfunded Loan Commitments | 3,186 | 3,193 |
| Other Liabilities | 48,269 | 42,788 |
| Total Liabilities | 4,274,876 | 4,161,296 |
| Commitment and Contingencies - see NOTE 18. | ||
| SHAREHOLDERS’ EQUITY | ||
| Common Stock, Par Value $1.00 Per Share, Authorized 100,000,000 Shares; | ||
| Outstanding - 23,069,175 shares at December 31, 2024, and22,956,304 shares at December 31, 2023 | 23,069 | 22,957 |
| Additional Paid-in Capital | 92,159 | 90,642 |
| Retained Earnings | 333,606 | 309,083 |
| Accumulated Other Comprehensive Loss | (64,521) | (71,439) |
| Total Shareholders’ Equity | 384,313 | 351,243 |
| Total Liabilities and Shareholders’ Equity | $4,659,189 | $4,512,539 |
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