29.39
+2.44%
Close of 9 Nov 2026, in USD
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About Carter Bankshares
From its filings with the US Securities and Exchange Commission
Carter Bankshares is based in Martinsville, Virginia and is incorporated in Virginia. Its shares trade on Nasdaq under the ticker CARE. The SEC classifies its business as national commercial banks. In the fiscal year to 31 December 2025, it reported revenue of $20.3m and net income of $31.4m. At that date it held total assets of $4.85bn and shareholders' equity of $419.7m. By business, Debit Card Interchange Fees brought in 39.1% of revenue, followed by Service Charges on Deposit Accounts at 28.7% and Other Fees and Other Income at 18.8%.
Carter Bankshares, Inc. (the “Company”) is a bank holding company headquartered in Martinsville, Virginia with assets of $4.9 billion at December 31, 2025. In October 2025, the Company elected to become a financial holding company under the Bank Holding Company Act of 1956, as amended (the “BHCA”). As a financial holding company of a Virginia state bank, the Company is subject to regulation, supervision and examination by the Board of Governors of the Federal Reserve System (the “FRB”) and the Bureau of Financial Institutions of the Virginia State Corporation Commission (the “Virginia BFI”). The Company is the parent company of its wholly owned subsidiary, Carter Bank & Trust (the “Bank”). The Bank is a Federal Deposit Insurance Corporation (“FDIC”) insured, Virginia state-chartered bank, which operates 64 branches in Virginia and North Carolina. The Bank became a member of the Federal Reserve System on November 13, 2025. The Bank is subject to regulation, supervision and examination by the FRB (through the Federal Reserve Bank of Richmond) and the Virginia BFI. The Company provides a full range of commercial banking, consumer banking, mortgage and services through the Bank. The Company’s common stock trades on the Nasdaq Global Select Market under the ticker symbol “CARE”.
Quoted from its 10-K, filed 5 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 28 Feb 2007
- Employees
- 687
- Head office
- 1300 KINGS MOUNTAIN ROAD, MARTINSVILLE, VA, 24112
- Incorporated in
- VA
- Classification
- National Commercial Banks
- Filer status
- Accelerated filer
Leadership
Pay as last reported
- Mr. James HaskinsChairman of the Board, since 2017$92,220
- Mr. Bradford LangsPresident, Chief Strategy Officer, since 2020$451,130
- Mr. Litz Van DykeChief Executive Officer, Director, since 2017$785,742
- Ms. Phyllis KaravatakisVice Chairman of the Board, Senior Executive Vice President for Special Projects, since 2020$309,310
- Ms. Wendy BellChief Financial Officer, Senior Executive Vice President, Investor Relations, since 2020$443,068
- Ms. Jane DavisExecutive Vice President, Chief Administrative Officer, since 2017$321,459
- Mr. Matthew SpeareExecutive Vice President, Chief Information Officer, since 2017$420,296
- Mr. A. Loran AdamsExecutive Vice President and Director of Regulatory Risk Management, since 2018
- Mr. Tony KallsenExecutive Vice President, Chief Credit Officer, since 2018
- Mr. Gregory FeldmannLead Independent Director, since 2019$74,220
- Mr. Michael BirdIndependent Director, since 2018$74,220
- Mr. Kevin BloomfieldIndependent Director, since 2020$9,250
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 40
- Environment
- 7
- Social
- 47
- Governance
- 65
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Carter Bankshares operates a network of approximately 67 branches in Virginia and North Carolina.
- The company provides a full range of retail and commercial financial products and insurance.
- Digital banking options are available through its website and mobile banking tools.
Weaknesses
- The source description contains conflicting employee counts of 687 and 667.
- The company is headquartered in Martinsville, Virginia, which may limit geographic diversity.
- Reliance on a specific state-chartered bank structure could restrict operational flexibility.
Opportunities
- Expansion of digital banking services could attract more tech-savvy customers.
- Increasing demand for insurance products offers additional revenue streams.
- Growth in commercial real estate and industrial lending segments presents investment potential.
Threats
- Competitive pressure from other banks in Virginia and North Carolina markets.
- Economic downturns could negatively impact commercial real estate and industrial loans.
- Regulatory changes in banking and insurance sectors may increase compliance costs.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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