Quarterly ResultJul 23, 2026, 08:31 AM
Carter Bankshares Q2 Net Income $28.9M, EPS $1.31; Strategic Gains
AI Summary
Carter Bankshares, Inc. announced strong financial results for Q2 2026, with net income of $28.9 million and diluted EPS of $1.31. The quarter benefited from a $35.9 million net gain from the sale of its insurance interest, which significantly increased tangible book value. The company also completed a strategic repositioning of its securities portfolio and reported expanded net interest margin and improved capital ratios, positioning it for future growth.
Key Highlights
- Q2 2026 net income was $28.9 million, up from $8.5 million in Q2 2025.
- Diluted EPS for Q2 2026 was $1.31, compared to $0.37 in Q2 2025.
- Net interest income increased 23.5% year-over-year to $40.0 million in Q2 2026.
- Net interest margin expanded to 3.38% in Q2 2026, up from 2.80% in Q2 2025.
- Recognized a $35.9 million net gain from the Insurance Transaction, adding $1.30 to diluted EPS.
- Completed a Portfolio Repositioning, selling $139.4 million in securities and purchasing $88.5 million at a higher yield.
- Nonperforming loans increased to $37.6 million at June 30, 2026, from $24.0 million at March 31, 2026.
- Tier 1 capital ratio improved to 14.26% at June 30, 2026, from 13.52% at March 31, 2026.
Price Impact
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