Carter Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 27, 2022 at 06:08 pm IST
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Carter Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net interest income was USD 37.73 million compared to USD 29.4 million a year ago. Net income was USD 14.41 million compared to USD 11.17 million a year ago. Basic earnings per share from continuing operations was USD 0.59 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.42 a year ago.
For the nine months, net interest income was USD 98.41 million compared to USD 83.13 million a year ago. Net income was USD 34.51 million compared to USD 25.98 million a year ago. Basic earnings per share from continuing operations was USD 1.38 compared to USD 0.98 a year ago. Diluted earnings per share from continuing operations was USD 1.38 compared to USD 0.98 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).