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Jun 30, 2022
Carter Bankshares Q2 2022 Earnings Report
Announced second quarter financial results
Key Takeaways
Carter Bankshares, Inc. reported a solid second quarter with net income of $10.8 million, or $0.44 diluted earnings per share. The company saw positive trends in net interest income expansion, loan growth, and expense control. Loans grew by an annualized rate of 14.4% since March 31, 2022.
Net interest income increased $4.2 million, or 15.0%, to $32.5 million compared to the first quarter of 2022.
Net interest margin increased 36 basis points to 3.27% compared to the first quarter of 2022.
Total portfolio loans increased $103.9 million, or 14.4% on an annualized basis, to $3.0 billion at June 30, 2022 compared to March 31, 2022.
Total deposits increased $25.1 million, or 2.7% on an annualized basis, to $3.8 billion at June 30, 2022 compared to March 31, 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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