Quarterly ResultJul 27, 2026, 11:31 AM
Carter Bankshares Q2 Net Income $28.9M; EPS $1.31; NPLs down 5.68%
AI Summary
Carter Bankshares, Inc. reported strong financial results for the second quarter of 2026, with net income significantly increasing to $28.9 million and diluted EPS rising to $1.31. The company also made strategic moves, including the sale of its largest nonperforming loan relationship and the sale of its insurance group membership. Asset quality improved substantially, with nonperforming loans to total portfolio loans decreasing to 1.01%.
Key Highlights
- Net Income increased to $28.9 million in Q2 2026, up $20.4 million year-over-year.
- Diluted Earnings Per Share rose to $1.31 in Q2 2026, an increase of $0.94 year-over-year.
- Nonperforming Loans to Total Portfolio Loans improved to 1.01% from 6.69% year-over-year.
- Completed the sale of its largest nonperforming loan relationship in Q1 2026.
- Sold membership in Bearing Insurance Group, LLC in Q2 2026.
- Repositioned $139.4 million of AFS securities, investing $88.5 million at 5.27% yield.
- Reinstated Quarterly Cash Dividend on April 22, 2026.
- Repurchased 108,601 shares for $2.9 million under a $10.0 million program.
Price Impact
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