Carter Bankshares, Inc.

General Carter Bankshares, Inc. is a bank holding company headquartered in Martinsville, Virginia, with assets totaling $4.9 billion as of December 31, 2025. In October 2025, the Company became a financial holding company. It is regulated by the Board of Governors of the Federal Reserve System and the Bureau of Financial Institutions of the Virginia State Corporation Commission. The Company's wholly owned subsidiary is Carter Bank & Trust, an FDIC-insured, Virginia state-chartered bank. Carter Bank & Trust operates 64 branches across Virginia and North Carolina. The Bank became a member of the Federal Reserve System on November 13, 2025, and is regulated by the Federal Reserve Bank of Richmond and the Virginia BFI. The Company, through the Bank, offers a full range of commercial banking, consumer banking, and mortgage services. The Company's common stock is traded on the Nasdaq Global Select Market under the ticker symbol "CARE". Carter Bank & Trust began operations on December 29, 2006, following the merger of ten banking institutions: Blue Ridge Bank, N.A. (Floyd, Virginia); Central National Bank (Lynchburg, Virginia); Community National Bank (South Boston, Virginia); First National Bank (Rock Mount, Virginia); First National Exchange Bank (Roanoke, Virginia); Mountain National Bank (Galax, Virginia); Patrick Henry National Bank (Martinsville, Virginia); Patriot Bank, N.A. (Fredericksburg, Virginia); People's National Bank (Danville, Virginia); and Shenandoah National Bank (Staunton, Virginia). The Company was incorporated on October 7, 2020, to serve as the Bank's parent holding company.