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Jun 30, 2021
Carter Bankshares Q2 2021 Earnings Report
Announced second quarter 2021 financial results with net income of $5.4 million and diluted earnings per share of $0.21.
Key Takeaways
Carter Bankshares, Inc. reported a net income of $5.4 million, or $0.21 diluted earnings per share, for the second quarter of 2021. The company saw a decline in nonperforming loans and an increase in net interest income. They also completed their branch optimization initiative.
Nonperforming loans decreased $22.4 million, or 70.1%, to $9.6 million since December 31, 2020.
Net interest income increased $0.7 million, or 2.5%, to $27.2 million compared to the first quarter of 2021.
Net interest margin increased one basis point to 2.79% compared to the first quarter of 2021.
Completed 20 branch closures as part of the branch network optimization project.
Carter Bankshares
Carter Bankshares
Forward Guidance
Company did not provide forward guidance in the earnings report.