Carter Bankshares Q2 FY26 net income drops 66.31% to $28.9 million vs Q1 FY26; net interest income rises 11.2% to $40 million vs Q1 FY26
Reuters2026/07/23 12:03By:Reuters
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- Carter Bankshares posts Q2 net income of USD 28.9 million, or USD 1.31 a share, down from USD 85.8 million in Q1.
- Net interest income rises 11.2% from the prior quarter to USD 40 million; net interest margin widens 0.31 percentage point to 3.38%.
- Noninterest income falls to USD 28.7 million from USD 71 million, reflecting a USD 35.9 million pre-tax gain from the Bearing Insurance stake sale.
- Portfolio repositioning triggers a USD 12.5 million pre-tax securities loss; USD 139.4 million sold at 2.28% yield, USD 88.5 million bought at 5.27%.
- CEO Litz H. Van Dyke cites margin expansion, loan growth momentum, and expects redeploying remaining proceeds toward organic loan growth in 2026.
Disclaimer:
This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Carter Bankshares Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 202607230800ACCESSWRNAPR_____1194923) on July 23, 2026, and is solely responsible for the information contained therein.
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