Carter Bankshares, Inc. has announced its financial results for the fourth quarter and full year 2025, showing a significant increase in net income compared to the previous periods. In the fourth quarter of 2025, the company reported a net income of $8.5 million, a notable improvement from $5.4 million in the third quarter of 2025 and $8.3 million in the fourth quarter of 2024.
The net interest income for the fourth quarter of 2025 was $34.6 million, up from $33.7 million in the third quarter of 2025 and $29.1 million in the fourth quarter of 2024. For the full year 2025, the net interest income was $130.8 million, compared to $114.5 million in 2024.
The pre-tax pre-provision income also saw an increase, reaching $8.8 million in the fourth quarter of 2025, up from $10.4 million in the third quarter of 2025 and $5.7 million in the fourth quarter of 2024. Similarly, for the full year 2025, pre-tax pre-provision income was $36.2 million, a significant rise from $25.8 million in 2024.
The company's total portfolio loans increased by $43.9 million in the fourth quarter of 2025, reaching $3.9 billion at December 31, 2025, and marking a 7.0% increase from December 31, 2024. Net interest margin also increased, reaching 2.92% in the fourth quarter of 2025, compared to 2.57% in the same period of the previous year.
The nonperforming loans (NPLs) decreased to $244.0 million at December 31, 2025, down from $258.7 million at September 30, 2025. The (recovery) for credit losses was $2.2 million for the fourth quarter of 2025, compared to a provision of $2.9 million for the third quarter of 2025 and a (recovery) of $5.1 million for the fourth quarter of 2024.
Furthermore, the company's net interest income increased to $34.6 million in the fourth quarter of 2025, up from $33.7 million in the third quarter of 2025 and $29.1 million in the fourth quarter of 2024. The full-year net interest income also saw a significant increase, reaching $130.8 million in 2025, compared to $114.5 million in 2024.
On the noninterest income side, the company reported $5.2 million for the fourth quarter of 2025, slightly lower than the third quarter of 2025 and the fourth quarter of 2024. However, the full-year noninterest income was $22.4 million, representing a 4.8% increase from 2024.
Noninterest expenses totaled $31.0 million in the fourth quarter of 2025, up from the previous quarter, and the full-year noninterest expense was $117.1 million, showing a 6.4% increase from 2024.
The market has reacted to these announcements by moving the company's shares 0.0% to a price of $20.38. For more information, read the company's full 8-K submission here.
