Revenue growth accelerated to 19.7% in 2026Q1, though the performance was heavily influenced by non-interest income reaching 54.5% of total revenue.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Net Interest Income | 136.33M | 130.82M | 113.44M | 120.85M | 139.77M | 111.06M | 104.9M | 112.2M | 113.91M | 106.97M | 101.27M | 104.58M | 101.4M | 94.5M | 100.32M | 96.29M | 89.27M | -42K | -16K | 0 |
| NII Growth % | 72.28% | 15.32% | -6.13% | -13.54% | 25.85% | 5.88% | -6.51% | -1.49% | 6.48% | 5.64% | -3.17% | 3.14% | 7.3% | -5.8% | 4.19% | 7.87% | 212635.71% | -162.5% | - | - |
| Net Interest Margin % | 2.84% | 2.7% | 2.43% | 2.68% | 3.32% | 2.69% | 2.51% | 2.8% | 2.82% | 2.6% | 2.25% | 2.14% | 2.19% | 2.03% | 2.26% | 2.43% | 2.41% | -0% | -0% | 0% |
| Interest Income | 235.12M | 232.22M | 220.72M | 194.96M | 160.03M | 133.78M | 140.72M | 158.98M | 152.02M | 144.08M | 147.65M | 152.38M | 146.73M | 147.29M | 156.82M | 152.94M | 156.49M | 0 | 0 | 0 |
| Interest Expense | 98.78M | 101.4M | 107.27M | 74.11M | 20.25M | 22.71M | 35.83M | 46.77M | 38.11M | 37.11M | 46.38M | 47.8M | 45.33M | 52.79M | 56.5M | 56.65M | 67.23M | 42K | 16K | 0 |
| Loan Loss Provision | -35.83M | -3.83M | -5.05M | 6.4M | 2.93M | 2.08M | 18.01M | 3.4M | 16.87M | 43.2M | 17.72M | 3.3M | 3M | 2.7M | 2.4M | 1.8M | 1.5M | 158.07M | 150.87M | 157.22M |
| Non-Interest Income | 84.81M | 22.4M | 18.96M | 16.86M | 19.12M | 22.6M | 23.05M | 9.41M | 5.87M | 246K | -987K | 12.2M | 12.39M | 10.93M | 11.33M | 11.66M | 9.29M | 158.11M | 150.89M | 157.22M |
| Non-Interest Income % | 26.51% | 8.8% | 7.91% | 7.96% | 10.67% | 14.45% | 14.07% | 5.59% | 3.72% | 0.17% | -0.67% | 7.41% | 7.79% | 6.91% | 6.74% | 7.08% | 5.6% | 100% | 100% | 100% |
| Total Revenue | 319.93M | 254.63M | 239.67M | 211.82M | 179.15M | 156.38M | 163.77M | 168.38M | 157.89M | 144.33M | 146.66M | 164.57M | 159.12M | 158.22M | 168.15M | 164.6M | 165.78M | 158.11M | 150.89M | 157.22M |
| Revenue Growth % | 124.15% | 6.24% | 13.15% | 18.24% | 14.56% | -4.51% | -2.74% | 6.64% | 9.4% | -1.59% | -10.88% | 3.43% | 0.57% | -5.91% | 2.16% | -0.71% | 4.85% | 4.79% | -4.03% | - |
| Non-Interest Expense | 118.07M | 117.05M | 106.58M | 102.59M | 94.25M | 95.89M | 155.03M | 90.42M | 88.6M | 82.23M | 64.94M | 64.08M | 67.5M | 67.57M | 68.13M | 67.86M | 70M | 20.44M | 17.58M | 16.18M |
| Efficiency Ratio | 36.91% | 45.97% | 44.47% | 48.43% | 52.61% | 61.32% | 94.66% | 53.7% | 56.11% | 56.98% | 44.28% | 38.94% | 42.42% | 42.71% | 40.52% | 41.23% | 42.22% | 12.93% | 11.65% | 10.29% |
| Operating Income | 138.9M | 40M | 30.87M | 28.72M | 61.72M | 35.7M | -45.09M | 27.78M | 14.31M | -18.21M | 17.62M | 49.4M | 43.28M | 35.16M | 41.12M | 38.28M | 27.06M | 18.11M | 9.92M | 16.29M |
| Operating Margin % | 43.41% | 15.71% | 12.88% | 13.56% | 34.45% | 22.83% | -27.53% | 16.5% | 9.06% | -12.62% | 12.02% | 30.02% | 27.2% | 22.22% | 24.46% | 23.26% | 16.32% | 11.45% | 6.58% | 10.36% |
| Operating Income Growth % | - | 29.58% | 7.48% | -53.46% | 72.89% | 179.18% | -262.27% | 94.19% | 178.56% | -203.34% | -64.32% | 14.12% | 23.12% | -14.51% | 7.42% | 41.47% | 49.4% | 82.5% | -39.06% | - |
| Pretax Income | 138.9M | 40M | 30.87M | 28.72M | 61.72M | 35.7M | -45.09M | 27.78M | 14.31M | -18.21M | 17.62M | 49.4M | 43.28M | 35.16M | 41.12M | 38.28M | 27.06M | 18.11M | 9.92M | 16.29M |
| Pretax Margin % | 43.41% | 15.71% | 12.88% | 13.56% | 34.45% | 22.83% | -27.53% | 16.5% | 9.06% | -12.62% | 12.02% | 30.02% | 27.2% | 22.22% | 24.46% | 23.26% | 16.32% | 11.45% | 6.58% | 10.36% |
| Income Tax | 30.73M | 8.64M | 6.35M | 5.34M | 11.6M | 4.11M | 772K | 1.21M | 2.4M | -17.53M | 1.65M | 10.24M | 9.82M | 9.08M | 10.78M | 8.19M | 4.28M | 337K | 216K | 3.12M |
| Effective Tax Rate % | 22.12% | 21.6% | 20.56% | 18.58% | 18.79% | 11.51% | -1.71% | 4.35% | 16.79% | 96.26% | 9.33% | 20.73% | 22.7% | 25.83% | 26.2% | 21.38% | 15.8% | 1.86% | 2.18% | 19.13% |
| Net Income | 108.17M | 31.36M | 24.52M | 23.38M | 50.12M | 31.59M | -45.86M | 26.57M | 11.9M | -681K | 15.98M | 39.16M | 33.46M | 26.08M | 30.35M | 30.09M | 22.78M | 17.77M | 9.71M | 13.17M |
| Net Margin % | 33.81% | 12.32% | 10.23% | 11.04% | 27.98% | 20.2% | -28% | 15.78% | 7.54% | -0.47% | 10.9% | 23.79% | 21.03% | 16.48% | 18.05% | 18.28% | 13.74% | 11.24% | 6.43% | 8.38% |
| Net Income Growth % | 290.99% | 27.89% | 4.87% | -53.34% | 58.65% | 168.89% | -272.56% | 123.23% | 1848.16% | -104.26% | -59.19% | 17.03% | 28.32% | -14.07% | 0.84% | 32.09% | 28.18% | 83.09% | -26.28% | - |
| Net Income (Continuing) | 108.17M | 31.36M | 24.52M | 23.38M | 50.12M | 31.59M | -45.86M | 26.57M | 11.9M | -681K | 15.98M | 39.16M | 33.46M | 26.08M | 30.35M | 30.09M | 22.78M | 17.77M | 9.71M | 13.17M |
| EPS (Diluted) | 4.95 | 1.40 | 1.06 | 1.00 | 2.03 | 1.20 | -1.74 | 1.01 | 0.45 | -0.03 | 0.61 | 1.49 | 1.27 | 0.99 | 1.16 | 1.15 | 0.87 | 0.68 | 0.38 | 0.53 |
| EPS Growth % | 310.83% | 32.08% | 6% | -50.74% | 69.17% | 168.97% | -272.28% | 124.44% | 1600% | -104.92% | -59.06% | 17.32% | 28.28% | -14.66% | 0.87% | 32.18% | 27.94% | 78.95% | -28.3% | - |
| EPS (Basic) | - | 1.40 | 1.06 | 1.00 | 2.03 | 1.20 | -1.74 | 1.01 | 0.45 | -0.03 | 0.61 | 1.49 | 1.27 | 0.99 | 1.16 | 1.15 | 0.87 | 0.68 | 0.38 | 0.53 |
| Diluted Shares Outstanding | 21.85M | 22.46M | 23.24M | 23.24M | 24.6M | 26.34M | 26.38M | 26.34M | 26.26M | 26.26M | 26.26M | 26.26M | 26.26M | 26.26M | 26.26M | 26.26M | 26.26M | 26.26M | 25.86M | 25M |
Commercial credit concentration volatility
As reported in recent financial filings, Carter Bankshares achieved a significant NII expansion to $35.9 million in 2026Q1, representing a 19.7% growth rate that suggests the bank is successfully navigating the current interest rate environment despite the inherent pressures on regional deposit funding costs.
The acceleration in NII growth from 7.1% in 2025Q1 to nearly 20% by 2026Q1 indicates that the bank's loan repricing strategy is effectively outpacing the rising cost of its deposit base. Investors should monitor whether this trajectory is sustainable or if it relies on aggressive loan growth that could eventually pressure capital adequacy ratios.
Based on the provided quarterly data, the efficiency ratio experienced a notable shift to 23.8% in 2026Q1, a sharp improvement from the 40-50% range observed in previous periods, which suggests a potential one-time revenue spike or a significant optimization of the bank's 69-branch operating footprint.
While the sudden drop in the efficiency ratio is mathematically favorable, it warrants further investigation to determine if this reflects core operational improvements or non-recurring income items. A sustained efficiency ratio at this level would imply a fundamental transformation in the bank's ability to convert revenue into pre-provision earnings.
According to the income statement data, the provision for credit losses reached a substantial $34.1 million in 2026Q1, a sharp departure from historical trends that suggests management is proactively addressing potential impairments within the bank's concentrated commercial real estate and acquisition and construction loan portfolios.
The magnitude of this provision expense indicates that the bank is likely absorbing losses from idiosyncratic commercial exposures, which has historically been a point of volatility for the institution. Analysts should scrutinize whether this level of provisioning is a peak event or a sign of deteriorating asset quality in the broader Piedmont region.
As indicated by the 2026Q1 financial results, non-interest income surged to $71.0 million, representing over 54% of total revenue, a dramatic shift from the historical single-digit percentage contributions that suggests the inclusion of non-recurring transactional gains or significant one-time fee recognition events.
This sudden reliance on non-interest income introduces a new layer of earnings uncertainty, as it deviates from the bank's traditional interest-heavy revenue model. Investors should monitor the sustainability of these fee streams, as they appear to be the primary driver of the recent earnings expansion rather than core banking activities.
Quick answers to the most common questions about buying CARE stock.
Carter Bankshares, Inc. (CARE) is profitable, generating $31.4M in net income for the fiscal year ending 2025 with a net profit margin of 12.3%.
Carter Bankshares, Inc. (CARE) reported an operating income of $40.0M, resulting in an operating profit margin of 15.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Carter Bankshares, Inc. (CARE) generated $157.1M in gross profit for the year, representing a gross profit margin of 61.7%. This demonstrates the company's core pricing power and production efficiency.