Carter Bankshares, Inc.
For the period ended Dec 31, 2025. Filed Mar 5, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 5, 2026
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 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| (Dollars in Thousands) | 2025 | 2024 | 2023 |
| OPERATING ACTIVITIES | |||
| Net Income | $31,362 | $24,523 | $23,384 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| (Recovery) Provision for Credit Losses, including (Recovery) Provision for Unfunded Commitments | (3,831) | (5,046) | 6,401 |
| Origination of Loans Held-for-Sale | (29,524) | (8,953) | (6,758) |
| Proceeds From Loans Held-for-Sale | 29,342 | 9,091 | 6,867 |
| Depreciation/Amortization of Bank Premises and Equipment | 7,859 | 7,055 | 6,248 |
| Provision for Deferred Taxes | 2,171 | 2,689 | 368 |
| Net Amortization of Securities | 3,172 | 3,592 | 6,354 |
| Tax Credit Amortization | 649 | 517 | 2,101 |
| Gains on Sales of Loans Held-for-Sale | (157) | (138) | (109) |
| (Gains) Losses on Sales of Securities, net | (46) | (68) | 1,521 |
| Unrealized Gain on Equity Securities | (250) | (41) | — |
| Commercial Loan Swap Derivative Loss | 107 | 12 | 219 |
| Increase in the Value of Life Insurance Contracts | (1,511) | (1,473) | (1,381) |
| Gain on Bank Owned Life Insurance Death Benefit | (1,882) | — | — |
| 1035 Exchange Fee on Bank Owned Life Insurance | 660 | — | — |
| Balance Sheet Hedge Fair Value Adjustment | 140 | 125 | — |
| Recognition of Restricted Stock Compensation Expense | 2,071 | 1,752 | 1,561 |
| Decrease (Increase) in Other Assets | 1,859 | 1,614 | (3,849) |
| (Decrease) Increase in Other Liabilities | (2,329) | 1,687 | 3,803 |
| Net Cash Provided By Operating Activities | 39,862 | 36,938 | 46,730 |
| INVESTING ACTIVITIES | |||
| Securities Available-for-Sale: | |||
| Proceeds from Sales | 19,010 | 17,953 | 43,323 |
| Proceeds from Maturities, Redemptions, and Paydowns | 96,923 | 63,454 | 48,901 |
| Purchases | (63,684) | (15,126) | (24,938) |
| Purchase of Equity Securities | — | (10,000) | — |
| Purchase of Bank Premises and Equipment, Net | (8,055) | (8,133) | (9,798) |
| Net Cash Acquired from Branch Purchase | 53,573 | — | — |
| (Purchase) Redemption of Other Restricted Stock, net | (10,343) | 15,139 | (11,886) |
| Loan Originations, net | (255,303) | (135,888) | (359,407) |
| Proceeds from Death Benefit on Bank Owned Life Insurance | 3,077 | — | — |
| Proceeds from Surrender of BOLI Policies | 7,273 | — | — |
| Proceeds from Sales and Payments of Other Real Estate Owned | 1,618 | 4,199 | 6,794 |
| Net Cash Used In Investing Activities | (155,911) | (68,402) | (307,011) |
| FINANCING ACTIVITIES | |||
| Net Change in Demand, Money Markets and Savings Accounts | 29,811 | 93,787 | (235,748) |
| (Decrease) Increase in Certificates of Deposits | (28,270) | 337,719 | 325,125 |
| Proceeds from Federal Home Loan Bank Borrowings | 610,000 | 1,870,000 | 3,441,685 |
| Repayments on Federal Home Loan Bank Borrowings | (501,500) | (2,193,400) | (3,228,835) |
| Repayments from Federal Funds Purchased, net | — | — | (17,870) |
| Repurchase of Common Stock | (20,000) | — | (16,416) |
| Net Cash Provided By Financing Activities | 90,041 | 108,106 | 267,941 |
| Net (Decrease) Increase in Cash and Cash Equivalents | (26,008) | 76,642 | 7,660 |
| Cash and Cash Equivalents at Beginning of Period | 131,171 | 54,529 | 46,869 |
| Cash and Cash Equivalents at End of Period | $105,163 | $131,171 | $54,529 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - (continued)
| Years Ended December 31, | |||
|---|---|---|---|
| (Dollars in Thousands) | 2025 | 2024 | 2023 |
| SUPPLEMENTARY DATA | |||
| Cash Interest Paid | $102,649 | $106,342 | $69,116 |
| Cash Paid for Income Taxes, net of Refunds | 3,717 | 303 | 5,693 |
| Transfer from Loans to Other Real Estate Owned | — | 1,181 | 110 |
| Loans Financed to Purchase Other Real Estate Owned | 525 | — | — |
| Transfer from Fixed Assets to Other Real Estate Owned | 1,829 | 348 | 1,854 |
| Right-of-use Asset Recorded in Exchange for Lease Liabilities | 1,041 | 2,995 | 1,464 |
| Stock Repurchase Excise Tax Settled in Subsequent Period | (181) | — | (153) |
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