Short answer
Carter Bankshares, Inc. (CARE) filed an 8-K current report with the SEC on April 23, 2026 reporting Item 2.02 (Results of Operations and Financial Condition), Item EX-99.1 (Exhibit EX-99.1). Q1 2026 results for three months ended March 31, 2026.
Carter Bankshares, Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 2.02 · Results of Operations and Financial Condition
- Q1 2026 results for three months ended March 31, 2026
- Press release announced April 23, 2026
- Detailed financial results available in Exhibit 99.1
Item EX-99.1 · Exhibit EX-99.1
- Q1 net income $85.8M, or $3.88 diluted EPS, versus $9.0M and $0.39 year over year, largely transaction-driven
- Sold $209.5M of nonperforming Justice-related loans for $289.5M cash, generating an $80.0M net gain
- Credit metrics materially improved: NPLs fell to $24.0M, or 0.64% of loans, from $244.0M and 6.29%
- Capital strengthened sharply: Tier 1 ratio 13.52% versus 10.70%, while tangible book value increased $3.49 per share
- Core trends improved despite nonrecurring gains: margin reached 3.07%, annualized loan growth 6.1%, and adjusted efficiency ratio 72.66%
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