Carter Bankshares, Inc. Announces Third Quarter 2026 Financial Results
Key Highlights
- ➤Third-quarter net income $7.8 million, or $0.35 diluted EPS
- ➤Net interest income $41.2 million, up 22.3% year over year
- ➤Net interest margin rose 65 basis points year over year to 3.51%
- ➤Portfolio loans increased $36.0 million despite approximately $161.0 million payoffs
- ➤Nonperforming loans fell $230.7 million year over year to $27.9 million
Expert Statements
Litz H. Van Dyke, Chief Executive Officer of Carter Bankshares, Inc.
“Our core operating performance remained strong during the quarter, highlighted by continued net interest margin expansion and growth in our loan portfolio across our markets, despite some isolated credit headwinds. Excluding the impact of the Loan Sale Transaction during the first quarter of 2026, loans increased approximately 4.53%(7) from a year ago despite elevated payoff activity during 2026. We continue to see a healthy lending pipeline and growing momentum in small business and commercial and industrial lending, supported by construction lending commitments expected to fund over the next 12 to 18 months as projects progress”
Litz H. Van Dyke, Chief Executive Officer of Carter Bankshares, Inc.
“During the third quarter, we also launched a new SBA Lending team, expanding the Bank's ability to help small businesses access financing and pursue growth opportunities throughout the Southeast and nationwide. Small businesses are an important part of the communities and markets we serve, and the addition of this team further strengthens our ability to support their financing needs.”
Litz H. Van Dyke, Chief Executive Officer of Carter Bankshares, Inc.
“The strategic initiatives undertaken during 2026 have strengthened our capital and liquidity position and provided additional financial flexibility to support organic growth, optimize our balance sheet and pursue opportunities as market conditions evolve. We are excited about what the future holds for Carter Bank.”
MARTINSVILLE, VA / ACCESS Newswire / October 29, 2026 / Carter Bankshares, Inc. (the "Company") (NASDAQ:CARE), the holding company of Carter Bank (the "Bank") today announced quarterly net income of $7.8 million, or $0.35 diluted earnings per share ("EPS"), for the third quarter of 2026 compared to net income of $28.9 million, or $1.31 diluted EPS, for the second quarter of 2026 and net income of $5.4 million, or $0.24 diluted EPS, for the third quarter of 2025. Net interest income was $41.2 million for the third quarter of 2026, $40.0 million for the second quarter of 2026, and $33.7 million for the third quarter of 2025. Adjusted net income(2) was $7.6 million for the third quarter of 2026, $11.6 million for the second quarter of 2026 and $5.7 million for the third quarter of 2025.
For the nine months ended September 30, 2026, net income was $122.4 million, or $5.53 diluted EPS, compared to net income of $22.9 million, or $1.00 diluted EPS, for the same period in 2025. Net interest income was $117.1 million for the nine months ended September 30, 2026, and $96.2 million for the nine months ended September 30, 2025. Adjusted net income(2) was $27.8 million and $22.3 million for the nine months ended September 30, 2026 and 2025, respectively.
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