8-K - Carter Bankshares, Inc. | StockGist

AI Analysis

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Carter Bankshares, Inc. announced the completion of the sale of all loans, subsequently reduced to judgments, related to entities in which James C. Justice, II has an interest, for $289.48 million in cash to an unaffiliated third party. The transaction removes $209.48 million in nonperforming loans and is estimated to increase tangible book value per common share by approximately $3.49.

Key Takeaways

1Bank completed sale of loans related to James C. Justice, II entities on March 26, 2026

2Sale consideration: $289.48 million cash

3Pre-sale outstanding principal: $209.48 million, all nonperforming and nonaccrual

4Specific reserve on loans: $18.04 million as of December 31, 2025

5Pro forma total loans: $3.67 billion; nonperforming loans: $29.96 million (0.82%)

6Estimated tangible book value per share increase: $3.49

Current Report Details

Event Type

Other Event

Disclosure

Voluntary

Variant

8-K

Items Reported

8.01

. - Other Events. On March 26, 2026, Carter Bankshares, Inc. (the “Company”), the holding company of Carter Bank & Trust (the ”Bank”), announced that the Bank h

Other Event

$289.5M$209.5M$18.0M$4.95B

Exhibits (1)

8-K