Carter Bankshares, Inc. Announces Second Quarter 2026 Financial Results
Carter Bankshares reported Q2 net income of $28.9 million, or $1.31 per share, a substantial increase from the prior year, driven by the successful sale of Bearing Insurance Group and ongoing core operating strength. The company executed a strategic portfolio repositioning, selling $139.4 million of lower-yield securities to fund higher-yielding assets, which contributed to a 58 basis point year-over-year expansion in net interest margin to 3.38%.
Key figures
- Eps
- 1.31
- Adjusted eps
- 0.53
- Efficiency ratio
- 43.66%
- Adjusted net income
- 11600000
- Net interest income
- 40000000
- Net interest margin
- 3.38%
- Nonperforming loans
- 37600000
- Tangible book value
- 24.24
- Tier 1 leverage ratio
- 11.65%
- Adjusted efficiency ratio
- 62.66%
AI analysis
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