Stock Data
$0.06 (0.18%)
Asset Type
Common Stock
Exchange
NASDAQ
Currency
USD
Country
USA
Sector
FINANCIAL SERVICES
Industry
BANKS - REGIONAL
Carter Bankshares Inc, headquartered in Martinsville, Virginia, is a banking institution founded in 1974. It offers a wide range of financial products and services, including checking and savings accounts, retirement plans, and money market accounts. The bank provides both commercial and consumer loans, covering needs from automobile financing to home improvements and business investments. Additionally, Carter Bank & Trust offers mortgage services, home equity lines of credit, credit cards, and digital banking solutions like online and mobile banking. It also provides treasury and cash management services for businesses, enhancing its comprehensive banking solutions.
Carter Bankshares crushed Q2 earnings by 24% as a portfolio overhaul and wholesale borrowing elimination sent net interest margins soaring 58 basis points. The Virginia bank swapped lower-yielding securities for higher-quality assets yielding 5.27%, driving net interest income up 23.5% year over year.
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