Carter Bankshares, Inc. filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission on August 6, 2026, covering the period ended June 30, 2026.

Key Highlights

  • Net income for the six months ended June 30, 2026: $114,668 thousand, compared to $17,463 thousand for the same period in 2025, according to the filing.
  • Gain on Loan Sale Transaction: The company reported a $65,000 thousand gain on a loan sale transaction in the six months ended June 30, 2026, with no comparable amount in 2025.
  • Gain on Insurance Transaction: A $35,949 thousand gain on an insurance transaction was recorded in the second quarter of 2026.
  • Total assets at June 30, 2026: $4,801,883 thousand, down from $4,851,922 thousand at December 31, 2025.
  • Allowance for credit losses: $55,170 thousand at June 30, 2026, compared to $71,491 thousand at December 31, 2025.
  • Basic and diluted earnings per share: $5.18 for the six months ended June 30, 2026, versus $0.76 for the same period in 2025.
  • Shares outstanding: 22,162,213 shares as of June 30, 2026, and 22,163,931 shares as of August 3, 2026, per the filing.

Carter Bankshares Q2 2026: Transactions Drive Results

Carter Bankshares, Inc. (Nasdaq Global Select Market: CARE), a Virginia-chartered bank holding company headquartered in Martinsville, Virginia, reported net income of $114,668 thousand for the six months ended June 30, 2026, according to its unaudited consolidated financial statements. This compares to $17,463 thousand for the same period in 2025. For the three months ended June 30, 2026, the company reported net income of $28,911 thousand, versus $8,510 thousand a year earlier.

The filing identifies two transactions as significant contributors to noninterest income in the period. A gain on a loan sale transaction of $65,000 thousand was recorded in the first half of 2026, and a gain on an insurance transaction of $35,949 thousand was recorded in the second quarter of 2026. The company also reported net losses on sales of securities of $12,531 thousand for the second quarter and $12,451 thousand for the six-month period. Total noninterest income reached $99,704 thousand for the six months ended June 30, 2026, compared to $11,809 thousand in the prior-year period.

Net interest income for the six months ended June 30, 2026 was $75,884 thousand, up from $62,497 thousand for the same period in 2025. Total deposits stood at $4,197,556 thousand at June 30, 2026, compared to $4,210,889 thousand at December 31, 2025. Federal Home Loan Bank borrowings were zero at June 30, 2026, down from $178,500 thousand at December 31, 2025. Total shareholders' equity increased to $539,146 thousand from $419,697 thousand over the same period. The provision for credit losses reflected a recovery of $31,907 thousand in the six months ended June 30, 2026, compared to a recovery of $4,355 thousand in the prior-year period. Portfolio loans, net, stood at $3,679,424 thousand at June 30, 2026, down from $3,808,069 thousand at December 31, 2025.

What Was Disclosed

Carter Bankshares filed a Form 10-Q for the quarter ended June 30, 2026, disclosing financial results that included two significant noninterest income items, a recovery in the allowance for credit losses, reduced borrowings, and increased shareholders' equity relative to year-end 2025.