On March 16, 2021, director Charles E. Hall notified the Board of Directors of Carter Bankshares, Inc. that he will retire and not stand for re-election to the Board of Directors of the company at its 2021 Annual Meeting of Shareholders to be held on June 23, 2021. Mr. Hall will continue to serve as a director of the Company through the end of his current term, which ends at the Annual Meeting.