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Carter Bankshares, Inc. Announces Fourth Quarter and Full Year 2024 Financial Results

1. CARE reported Q4 2024 net income of $8.3 million, up from Q3 2024. 2. Q4 2024 EPS is $0.36, contrasting to a loss per share last year.

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FAQ

Why Bullish?

The significant increase in net income and EPS suggests strong growth potential, similar to past earnings rallies.

How important is it?

The quarterly earnings improvement showcases operational success, likely impacting investor sentiment positively.

Why Short Term?

The immediate reaction is expected due to recent earnings; however, sustainability will determine long-term effects.

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CARE
MARTINSVILLE, VA / ACCESS Newswire / January 23, 2025 / Carter Bankshares, Inc. (the "Company") (NASDAQ:CARE), the holding company of Carter Bank (the "Bank") today announced quarterly net income of $8.3 million, or $0.36 diluted earnings per share ("EPS"), for the fourth quarter of 2024 compared to net income of $5.6 million, or $0.24 diluted EPS, for the third quarter of 2024 and a net loss of $1.9 million, or $(0.08) per share, for the fourth quarter of 2023. Pre-tax pre-provision income1 was $5.6 million for the fourth quarter of 2024, $6.8 million for the third quarter of 2024 and $1.6 million for the fourth quarter of 2023.

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