Carter Bankshares, Inc. (CARE) 10-Year Financial Performance & Capital Metrics

CARE • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutCarter Bankshares, Inc. operates as the bank holding company for Carter Bank & Trust that provides various banking products and services. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposits. The company also offers commercial loans comprising secured and unsecured loans; consumer loans, such as secured and unsecured loans for financing automobiles, home improvements, education, overdraft protection, and personal investments, as well as residential mortgages; real estate construction and acquisition loans; home equity lines of credit; and credit cards, as well as originates and holds fixed and variable rate mortgage loans. In addition, it provides other banking services that include safe deposit boxes, direct deposit of payroll and social security checks, online banking, bill pay, online account opening, mobile deposit, mobile banking, debit cards, e-statements, and ATM services; title insurance and other financial institution-related products and services; and treasury and corporate cash management services. It operates through 69 branches in Virginia and North Carolina. Carter Bankshares, Inc. was founded in 1974 and is headquartered in Martinsville, Virginia.Show more

Net Interest Income $113M -6.1%
Total Revenue $240M +13.1%
Net Income $25M +4.9%
Return on Equity 6.67% -3.1%
Net Interest Margin 2.43% -9.1%
Efficiency Ratio 44.47% -8.2%
ROA 0.53% -0.3%
Equity / Assets 8.25% +6.0%
Book Value per Share 16.54 +9.4%
Tangible BV/Share 16.54 +9.4%
Debt/Equity 0.18 -83.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 44.5% efficiency ratio
✓Trading near 52-week high
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.18%

5Y7.32%

3Y15.3%

TTM-

Profit (Net Income) CAGR

10Y-3.06%

5Y-1.59%

3Y-8.09%

TTM153.96%

EPS CAGR

10Y-1.79%

5Y0.97%

3Y-4.05%

TTM152.69%

ROCE

10Y Avg4.06%

5Y Avg4.03%

3Y Avg7.17%

Latest4.76%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	104.58M	101.27M	106.97M	113.91M	112.2M	104.9M	111.06M	139.77M	120.85M	113.44M
NII Growth %	0.03%	-0.03%	0.06%	0.06%	-0.01%	-0.07%	0.06%	0.26%	-0.14%	-0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	152.38M	147.65M	144.08M	152.02M	158.98M	140.72M	133.78M	160.03M	194.96M	220.72M
Interest Expense	47.8M	46.38M	37.11M	38.11M	46.77M	35.83M	22.71M	20.25M	74.11M	107.27M
Loan Loss Provision	3.3M	17.72M	43.2M	16.87M	3.4M	18.01M	2.08M	2.93M	6.4M	-5.05M
Non-Interest Income+	12.2M	-987K	246K	5.87M	9.41M	23.05M	22.6M	19.12M	16.86M	18.96M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	164.57M	146.66M	144.33M	157.89M	168.38M	163.77M	156.38M	179.15M	211.82M	239.67M
Revenue Growth %	0.03%	-0.11%	-0.02%	0.09%	0.07%	-0.03%	-0.05%	0.15%	0.18%	0.13%
Non-Interest Expense	64.08M	64.94M	82.23M	88.6M	90.42M	155.03M	95.89M	94.25M	102.59M	106.58M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	49.4M	17.62M	-18.21M	14.31M	27.78M	-45.09M	35.7M	61.72M	28.72M	30.87M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.14%	-0.64%	-2.03%	1.79%	0.94%	-2.62%	1.79%	0.73%	-0.53%	0.07%
Pretax Income+	49.4M	17.62M	-18.21M	14.31M	27.78M	-45.09M	35.7M	61.72M	28.72M	30.87M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	10.24M	1.65M	-17.53M	2.4M	1.21M	772K	4.11M	11.6M	5.34M	6.35M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	39.16M	15.98M	-681K	11.9M	26.57M	-45.86M	31.59M	50.12M	23.38M	24.52M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.17%	-0.59%	-1.04%	18.48%	1.23%	-2.73%	1.69%	0.59%	-0.53%	0.05%
Net Income (Continuing)	39.16M	15.98M	-681K	11.9M	26.57M	-45.86M	31.59M	50.12M	23.38M	24.52M
EPS (Diluted)+	1.49	0.61	-0.03	0.45	1.01	-1.74	1.20	2.03	1.00	1.06
EPS Growth %	0.17%	-0.59%	-1.05%	16%	1.24%	-2.72%	1.69%	0.69%	-0.51%	0.06%
EPS (Basic)	1.49	0.61	-0.03	0.45	1.01	-1.74	1.20	2.03	1.00	1.06
Diluted Shares Outstanding	26.26M	26.26M	26.26M	26.26M	26.34M	26.38M	26.34M	24.6M	23.24M	23.24M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	613.18M	694.78M	268.61M	293.56M	125.81M	241.94M	277.8M	46.87M	54.53M	131.17M
Short Term Investments	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	4.03B	3.58B	3.6B	3.45B	3.61B	3.71B	3.64B	3.89B	4.13B	4.21B
Investments Growth %	-0.02%	-0.11%	0.01%	-0.04%	0.05%	0.03%	-0.02%	0.07%	0.06%	0.02%
Long-Term Investments	4.03B	3.42B	2.65B	2.67B	2.87B	2.93B	2.72B	3.06B	3.41B	3.56B
Accounts Receivables	0	0	0	0	0	0	0	0	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	57.38M	59.8M	59.76M	62.19M	62.19M	0	0	0	0	0
Intangible Assets	2.45M	0	0	0	0	0	0	0	0	0
PP&E (Net)	99.05M	96.61M	77.27M	85.84M	85.94M	85.31M	75.3M	72.11M	73.71M	74.33M
Other Assets	87.95M	77.41M	109.8M	147.83M	123.83M	142.59M	141.83M	194.2M	196.44M	176.02M
Total Current Assets	613.18M	855.71M	1.22B	1.08B	868.43M	1.02B	1.2B	883.14M	833.53M	849.57M
Total Non-Current Assets	4.28B	3.65B	2.9B	2.96B	3.14B	3.16B	2.93B	3.32B	3.68B	3.81B
Total Assets+	4.89B	4.51B	4.11B	4.04B	4.01B	4.18B	4.13B	4.2B	4.51B	4.66B
Asset Growth %	0.06%	-0.08%	-0.09%	-0.02%	-0.01%	0.04%	-0.01%	0.02%	0.07%	0.03%
Return on Assets (ROA)	0.01%	0%	-0%	0%	0.01%	-0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	0	0	0	0	10M	35M	7M	198.42M	393.4M	70M
Net Debt	-613.18M	-694.78M	-268.61M	-293.82M	-115.81M	-206.94M	-270.8M	151.55M	338.87M	-61.17M
Long-Term Debt	0	0	0	0	10M	35M	7M	180.55M	393.4M	70M
Short-Term Debt	0	0	0	0	0	0	0	17.87M	0	0
Other Liabilities	12.86M	7.04M	10.55M	12.2M	18.75M	19.38M	20.67M	44.93M	45.98M	51.45M
Total Current Liabilities	4.45B	4.06B	3.67B	3.59B	3.5B	3.68B	3.7B	3.65B	3.72B	4.15B
Total Non-Current Liabilities	12.86M	7.04M	10.55M	12.2M	28.75M	54.38M	27.67M	225.48M	439.38M	121.45M
Total Liabilities	4.47B	4.07B	3.68B	3.6B	3.53B	3.74B	3.73B	3.88B	4.16B	4.27B
Total Equity+	426.55M	434.65M	432.13M	436.21M	473.11M	440.17M	407.6M	328.63M	351.24M	384.31M
Equity Growth %	0.07%	0.02%	-0.01%	0.01%	0.08%	-0.07%	-0.07%	-0.19%	0.07%	0.09%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.04%	-0%	0.03%	0.06%	-0.1%	0.07%	0.14%	0.07%	0.07%
Book Value per Share	16.24	16.55	16.46	16.61	17.96	16.69	15.47	13.36	15.11	16.54
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	26.26M	26.26M	26.26M	26.27M	26.33M	26.39M	26.43M	23.96M	22.96M	23.07M
Additional Paid-in Capital	0	142.18M	142.18M	142.18M	142.49M	143.46M	143.99M	104.69M	90.64M	92.16M
Retained Earnings	400.29M	266.21M	265.93M	277.83M	304.16M	254.61M	235.47M	285.59M	309.08M	333.61M
Accumulated OCI	0	0	-2.24M	-10.07M	127K	15.72M	1.7M	-85.62M	-71.44M	-64.52M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	53.66M	32.66M	44.26M	49.4M	38.29M	7.7M	77.54M	70.79M	46.73M	36.94M
Operating CF Growth %	0.22%	-0.39%	0.36%	0.12%	-0.23%	-0.8%	9.06%	-0.09%	-0.34%	-0.21%
Net Income	39.16M	15.98M	-681K	11.9M	26.57M	-45.86M	31.59M	50.12M	23.38M	24.52M
Depreciation & Amortization	5.74M	3.29M	3.15M	3.68M	5.33M	6.14M	6.23M	6.06M	6.25M	7.05M
Deferred Taxes	-2.28M	-5.83M	-10.37M	8.91M	2.19M	-539K	4.82M	4.25M	2.47M	3.21M
Other Non-Cash Items	3.56M	28.46M	56.71M	26.65M	-7.08M	72.78M	28.25M	9.77M	14.49M	-1.43M
Working Capital Changes	7.52M	-9.24M	-4.54M	-1.75M	10.89M	-25.84M	5.61M	-722K	-1.43M	1.83M
Cash from Investing+	87.03M	447.54M	-76.2M	54.24M	-129.36M	-93.27M	-106.36M	-382.07M	-307.01M	-68.4M
Purchase of Investments	0	-125M	-434.94M	-201.24M	-534.14M	-277.64M	-466.65M	-135.63M	-24.94M	-25.13M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	-73.92M	0	0	0
Other Investing	-318.54M	-94.02M	-2.18M	-82.25M	-175.47M	-72.53M	135.45M	-345.02M	-364.5M	-116.55M
Cash from Financing+	230.1M	-398.6M	-394.22M	-78.43M	-76.94M	201.69M	64.67M	80.35M	267.94M	108.11M
Dividends Paid	-10.5M	-7.88M	0	0	0	-3.69M	0	0	0	0
Share Repurchases	0	0	0	0	0	0	-157K	-42.93M	-16.42M	0
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	1000K	1000K	-1000K	1000K	1000K	-1000K
Other Financing	240.6M	-390.72M	-394.22M	-78.43M	-86.94M	180.38M	92.83M	-50.27M	71.51M	431.51M
Net Change in Cash+	370.79M	81.6M	-426.16M	25.21M	-168.01M	116.13M	35.86M	-230.93M	7.66M	76.64M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	242.39M	613.18M	694.78M	268.61M	293.82M	125.81M	241.94M	277.8M	46.87M	54.53M
Cash at End	613.18M	694.78M	268.61M	293.82M	125.81M	241.94M	277.8M	46.87M	54.53M	131.17M
Interest Paid	47.12M	46.85M	37.82M	37.92M	46.17M	36.7M	23.47M	19.34M	69.12M	106.34M
Income Taxes Paid	6.99M	10.8M	1.68M	175K	220K	416K	2.72M	5.79M	5.72M	478K
Free Cash Flow+	53.06M	31.81M	40.72M	34.79M	29.83M	-2.42M	69.05M	64.9M	36.93M	28.8M
FCF Growth %	0.24%	-0.4%	0.28%	-0.15%	-0.14%	-1.08%	29.58%	-0.06%	-0.43%	-0.22%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.5%	3.71%	-0.16%	2.74%	5.85%	-10.04%	7.45%	13.61%	6.88%	6.67%
Return on Assets (ROA)	0.82%	0.34%	-0.02%	0.29%	0.66%	-1.12%	0.76%	1.2%	0.54%	0.53%
Net Interest Margin	2.14%	2.25%	2.6%	2.82%	2.8%	2.51%	2.69%	3.32%	2.68%	2.43%
Efficiency Ratio	38.94%	44.28%	56.98%	56.11%	53.7%	94.66%	61.32%	52.61%	48.43%	44.47%
Equity / Assets	8.72%	9.65%	10.51%	10.8%	11.81%	10.53%	9.86%	7.82%	7.78%	8.25%
Book Value / Share	16.24	16.55	16.46	16.61	17.96	16.69	15.47	13.36	15.11	16.54
NII Growth	3.14%	-3.17%	5.64%	6.48%	-1.49%	-6.51%	5.88%	25.85%	-13.54%	-6.13%
Dividend Payout	26.82%	49.3%	-	-	-	-	-	-	-	-

Revenue by Segment

	2021	2022	2023	2024
Bank Owned Life Insurance Income	-	1.36M	1.38M	1.47M
Bank Owned Life Insurance Income Growth	-	-	1.77%	6.66%
Other Revenue	-	1.21M	1.01M	414K
Other Revenue Growth	-	-	-16.29%	-59.09%
Commercial Loan Swap Fee Income	-	-	139K	-
Commercial Loan Swap Fee Income Growth	-	-	-	-
Deposit Accounts, Commissions, And Fees	6.66M	-	-	-
Deposit Accounts, Commissions, And Fees Growth	-	-	-	-
Insurance	1.9M	-	-	-
Insurance Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Carter Bankshares, Inc. (CARE) has a price-to-earnings (P/E) ratio of 19.2x. This is roughly in line with market averages.

Growth & Financials

Carter Bankshares, Inc. (CARE) grew revenue by 13.1% over the past year. This is steady growth.

Yes, Carter Bankshares, Inc. (CARE) is profitable, generating $31.4M in net income for fiscal year 2024 (10.2% net margin).

Dividend & Returns

Carter Bankshares, Inc. (CARE) has a return on equity (ROE) of 6.7%. This is below average, suggesting room for improvement.

Industry Metrics

Carter Bankshares, Inc. (CARE) has a net interest margin (NIM) of 2.4%. NIM has been under pressure due to interest rate environment.

Carter Bankshares, Inc. (CARE) has an efficiency ratio of 44.5%. This is excellent, indicating strong cost control.

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