Carter Bankshares (CARE) Financial Statements & Analysis

Carter Bankshares (CARE) Income Statement

Carter Bankshares reported revenue of $157.06M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 34.5% from $239.67M a year earlier. Net income was $31.36M, up 27.9% year over year, a net margin of 20.0%. Gross margin was 100.0% and operating margin 25.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $90.22M, up 148.7% from the same quarter a year earlier.

Carter Bankshares Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Carter Bankshares, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	157.06	239.67	134.19	158.10	133.67	163.77	168.38	157.89	144.33
Cost of Revenue	97.57	102.23	80.51	23.18	24.80	53.83	50.18	54.98	80.31
Gross Profit	157.06	137.45	131.31	155.97	131.58	109.94	118.21	102.91	64.02
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	48.23	66.65	38.76	34.70	57.27	56.34	60.06	57.80	53.93
Operating Expenses	117.05	106.58	102.59	94.25	95.89	155.03	90.42	88.60	82.23
Operating Income	40.00	30.87	28.72	61.72	35.70	-45.09	27.78	14.31	-18.21
Other Income/Expense
Interest Income	232.22	220.72	194.96	160.03	133.78	140.72	158.98	152.02	144.08
Interest Expense	101.40	107.27	74.11	20.25	22.71	35.83	46.77	38.11	37.11
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	40.00	30.87	28.72	61.72	35.70	-45.09	27.78	14.31	-18.21
Income Tax Expense	8.64	6.35	5.34	11.60	4.11	0.77	1.21	2.40	-17.53
Net Income	31.36	24.52	23.38	50.12	31.59	-45.86	26.58	11.91	-0.68
Net Income - Continuous Operations	31.36	24.52	23.38	50.12	31.59	-45.86	26.58	11.91	-0.68
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	11.03	37.92	12.60	11.81	11.03	-38.94	33.12	17.99	-15.06
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	7.86	7.06	6.25	6.06	6.23	6.14	5.34	3.68	3.15
Earnings Per Share
Basic EPS	1.00	1.00	1.00	2.00	1.00	-2.00	1.00	-	-
Diluted EPS	1.00	1.00	1.00	2.00	1.00	-2.00	1.00	-	-
Basic Shares Outstanding	22.46	23.24	23.24	24.60	26.43	26.38	26.32	26.26	26.26
Diluted Shares Outstanding	22.46	23.24	23.24	24.60	26.43	26.38	26.34	26.26	26.26

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Carter Bankshares Financial Statements

What was Carter Bankshares's revenue in fiscal 2025?

Carter Bankshares reported revenue of $157.06M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 34.5% from $239.67M a year earlier.

Is Carter Bankshares profitable?

Yes. Carter Bankshares earned net income of $31.36M in fiscal 2025, a net margin of 20.0%. In fiscal 2024 it earned $24.52M.

What is Carter Bankshares's operating margin?

Carter Bankshares's operating income was $40.00M on revenue of $157.06M in fiscal 2025, an operating margin of 25.5%, compared with 12.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition