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Dec 31, 2020
Carter Bankshares Q4 2020 Earnings Report
Announced fourth quarter 2020 financial results, showing a return to profitability after a loss in the previous quarter due to a one-time goodwill impairment charge.
Key Takeaways
Carter Bankshares, Inc. reported a net income of $2.9 million, or $0.11 diluted earnings per share, for the fourth quarter of 2020. The company faced challenges due to the COVID-19 pandemic but remained profitable and well-capitalized.
Net income for Q4 2020 was $2.9 million, or $0.11 diluted earnings per share.
Pre-tax pre-provision earnings, excluding goodwill impairment, were $7.9 million for Q4 2020.
Nonperforming loans decreased by $10.1 million, or 24.0%, compared to December 31, 2019.
Total deposits increased by $180.4 million, or 5.1%, compared to December 31, 2019.