Carter Bankshares, Inc. (CARE) financial statements (2022 and earlier)

Company profile

Business Address 1300 KINGS MOUNTAIN ROAD
MARTINSVILLE, VA 24112
State of Incorp. VA
Fiscal Year End December 31
SIC 6021 - National Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments278
Cash and cash equivalents278
Total current assets:278
Noncurrent Assets
Operating lease, right-of-use asset3
Property, plant and equipment75
Total noncurrent assets:79
Other undisclosed assets3,777
TOTAL ASSETS:4,134
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities3,726
Total liabilities:3,726
Stockholders' equity
Stockholders' equity attributable to parent408
Common stock26
Additional paid in capital144
Accumulated other comprehensive income2
Retained earnings235
Total stockholders' equity:408
TOTAL LIABILITIES AND EQUITY:4,134

Income statement (P&L) ($ in millions)

12/31/2021
Revenues20
Gain on disposition of assets for financial service operations7
Net investment income14
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(2)
Gross profit:18
Operating expenses(29)
Operating loss:(11)
Nonoperating income
(Bank Owned Life Insurance Income)
1
Interest and debt expense(23)
Loss from continuing operations before equity method investments, income taxes:(32)
Other undisclosed income from continuing operations before income taxes68
Income from continuing operations before income taxes:36
Income tax expense(4)
Net income attributable to parent:32
Undistributed earnings (loss) allocated to participating securities, basic(0)
Net income available to common stockholders, diluted:31

Comprehensive Income ($ in millions)

12/31/2021
Net income:32
Comprehensive income:32
Other undisclosed comprehensive loss, net of tax, attributable to parent(14)
Comprehensive income, net of tax, attributable to parent:18

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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