Carter Bankshares, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 25, 2024 at 01:48 pm
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Carter Bankshares, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 27.42 million compared to USD 41.52 million a year ago. Net loss was USD 1.89 million compared to net income of USD 15.61 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.65 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.65 a year ago.
For the full year, net interest income was USD 122.31 million compared to USD 139.93 million a year ago. Net income was USD 23.38 million compared to USD 50.12 million a year ago. Basic earnings per share from continuing operations was USD 1 compared to USD 2.03 a year ago. Diluted earnings per share from continuing operations was USD 1 compared to USD 2.03 a year ago.
Carter Bankshares, Inc. is a bank holding company. The Company is the parent company of its wholly owned subsidiary, Carter Bank & Trust (the Bank). It provides a full range of commercial banking, consumer banking, mortgage, and services. The Bank offers a full range of deposit services including lifetime free checking, interest checking accounts, savings accounts, retirement accounts and other deposit accounts of various types, ranging from money market accounts to longer-term CDs. These products and services are available to its personal and business customers. It also offers a full range of commercial and consumer loans. Commercial loans include both secured and unsecured loans, real estate construction and acquisition loans, and commercial and industrial loans. It also provides safe deposit boxes, direct deposit of payroll and social security checks and debit cards. Online banking products include online account opening, bill pay, e-statements (paperless electronic statements).