Carter Bankshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 28, 2022 at 08:10 am EDT
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Carter Bankshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net interest income was USD 32.46 million compared to USD 27.2 million a year ago. Net income was USD 10.78 million compared to USD 5.43 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 0.21 a year ago.
For the six months, net interest income was USD 60.68 million compared to USD 53.73 million a year ago. Net income was USD 20.1 million compared to USD 14.81 million a year ago. Basic earnings per share from continuing operations was USD 0.8 compared to USD 0.56 a year ago. Diluted earnings per share from continuing operations was USD 0.8 compared to USD 0.56 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).