Carter Bank & Trust Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 24, 2019 at 08:00 am EST
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Carter Bank & Trust announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 29.089 million compared to USD 27.928 million a year ago. Net income was USD 3.406 million compared to net loss of USD 5.071 million a year ago. Basic earnings per share was USD 0.13 compared to basic loss per share of USD 0.19 a year ago. For the full year, net interest income was USD 113.905 million compared to USD 106.973 million a year ago. Net income was USD 11.905 million compared to net loss of USD 681,000 a year ago. Basic earnings per share was USD 0.45 compared to basic loss per share of USD 0.03 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).