Carter Bankshares, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 28, 2021 at 03:14 pm EST
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Carter Bankshares, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced net interest income was USD 26.153 million compared to USD 28.426 million a year ago. Net income was USD 2.942 million compared to USD 3.606 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.14 a year ago. For the full year, net interest income was USD 105.115 million compared to USD 112.347 million a year ago. Net loss was USD 45.858 million compared to net income of USD 26.575 million a year ago. Basic loss per share from continuing operations was USD 1.74 compared to basic earnings per share from continuing operations of USD 1.01 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).
CARTER BANKSHARES, INC. 
