Carter Bankshares, Inc. Announces Strong Third Quarter Earnings
October 24, 2024
MARTINSVILLE, VA / ACCESSWIRE / October 24, 2024 / Carter Bankshares, Inc. (the “Company”) (NASDAQ:CARE), the holding company of Carter Bank & Trust (the “Bank”) today announced quarterly net income of $5.6 million, or $0.24 diluted earnings per share (“EPS”), for the third quarter of 2024 compared to net income of $4.8 million, or $0.21 diluted EPS, for the second quarter of 2024 and net income of $3.6 million, or $0.16 diluted EPS, for the third quarter of 2023. The pre-tax pre-provision income1 was $6.8 million for the third quarter of 2024, $6.2 million for the second quarter of 2024 and $5.4 million for the third quarter of 2023.
These strong earnings reflect the Company’s continued growth and success in the financial services industry. Carter Bankshares, Inc. has worked tirelessly to provide exceptional banking services to its customers, leading to increased profitability and shareholder value. The Company’s commitment to financial stability and sound business practices is evident in its consistent performance quarter after quarter.
Impact on Individuals
For individuals, the strong earnings of Carter Bankshares, Inc. can have positive implications. Customers of Carter Bank & Trust can expect continued excellent service and financial stability from their banking provider. Shareholders of the Company may see an increase in the value of their investments as a result of the strong earnings report. Overall, individuals can feel confident in the strength and reliability of Carter Bankshares, Inc. as a financial institution.
Impact on the World
On a broader scale, the strong earnings of Carter Bankshares, Inc. can have a positive impact on the financial industry as a whole. By demonstrating consistent growth and profitability, the Company sets a strong example for other financial institutions to follow. This can lead to increased confidence in the financial sector and boost economic growth and stability in the world.
Conclusion
In conclusion, the announcement of Carter Bankshares, Inc.’s strong third quarter earnings is a testament to the Company’s dedication to excellence and success in the financial services industry. Individuals can expect continued exceptional service, while the world can look forward to a positive impact on the financial sector as a whole. Carter Bankshares, Inc. continues to be a leader in the industry, setting a high standard for performance and reliability.
