NASDAQ$CARE
Carter Bankshares Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Announced record third quarter financial results.
Carter Bankshares, Inc. reported a record net income of $14.4 million, or $0.59 diluted earnings per share, for the third quarter of 2022. The company saw positive trends in net interest income expansion, loan growth, asset quality and expense control.
- Annualized quarterly performance metrics were strong with return on average assets of 1.38% and return on average equity of 16.75%.
- Net interest income increased $5.3 million, or 16.2%, to $37.7 million compared to the second quarter of 2022.
- Total portfolio loans increased $33.5 million, or 4.4%, on an annualized basis, to $3.0 billion at September 30, 2022 compared to June 30, 2022.
- Nonperforming loans decreased $5.0 million, or 41.7%, to $7.0 million at September 30, 2022 compared to June 30, 2022.
Headline financials
Revenue & EPS history
Carter Bankshares · Revenue · Quarterly
$43M
Forward guidance
Company is well positioned to further benefit from the rising rate environment, with operating leverage and financial performance expected to improve. Company is well capitalized, has strong liquidity, has improved asset quality and strong reserve levels.
Tailwinds
- Positive trends in net interest income expansion.
- Loan pipelines also remain healthy and at record levels for the near term.
- Asset sensitivity of balance sheet well positioned to further benefit from the rising rate environment.
- Increase in asset yields should more than offset rising deposit rates at least in the short-term.
- Strong liquidity.
Headwinds
- Mounting pressure on higher funding costs.
- Potential challenges should a recessionary environment develop over the next year.
- Loan growth muted by a high level of payoffs in the third quarter.
- Certain loans may not be renewed at maturity.
- There will undoubtedly be mounting pressure on higher funding costs
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.0%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+4.3%
Avg return
30 days after
45%
25 / 56 earnings
Positive
+8.8%
Q1 2017
Best reaction
-14.0%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | +1.8% | +12.5% | |
| Q4 2025 | +2.7% | +10.1% | +4.6% | |
| Q3 2025 | -6.3% | -5.1% | -6.9% | |
| Q1 2025 | +1.4% | +0.6% | +6.8% | |
| Q4 2024 | +1.4% | +0.9% | -1.9% | |
| Q3 2024 | -2.0% | -0.6% | +0.3% | |
| Q2 2024 | +0.5% | -2.9% | +2.6% | |
| Q1 2024 | +4.9% | +5.5% | +12.0% | |
| Q4 2023 | +4.5% | +5.2% | -5.4% | |
| Q3 2023 | +3.1% | +5.8% | +19.0% | |
| Q2 2023 | -9.4% | -10.7% | -15.5% | |
| Q1 2023 | +0.9% | +0.1% | +12.3% | |
| Q4 2022 | -0.2% | +3.0% | +7.2% | |
| Q3 2022 | +4.4% | +6.6% | +7.8% | |
| Q2 2022 | +0.1% | +5.2% | +22.3% | |
| Q1 2022 | -2.9% | -4.6% | -12.8% | |
| Q1 2019 | +3.5% | +3.1% | +9.0% | |
| Q2 2019 | +3.5% | +3.1% | +9.0% | |
| Q4 2021 | -0.4% | -1.2% | +7.8% | |
| Q3 2021 | +2.1% | +7.6% | -0.5% | |
| Q2 2021 | +5.2% | +4.5% | +12.8% | |
| Q1 2021 | -1.9% | +0.0% | +18.0% | |
| Q4 2020 | -3.0% | +0.3% | +14.6% | |
| Q3 2020 | +1.0% | +8.4% | +43.8% | |
| Q2 2020 | -1.6% | -3.7% | -3.7% | |
| Q1 2020 | -14.0% | -23.8% | -31.4% | |
| Q4 2019 | -1.0% | -2.4% | -13.9% | |
| Q3 2019 | -0.3% | +0.2% | +3.9% | |
| Q4 2018 | +3.4% | +3.7% | +13.6% | |
| Q3 2018 | +0.0% | -1.5% | -10.6% | |
| Q2 2018 | +1.9% | +0.8% | +1.0% | |
| Q1 2018 | -0.3% | -0.3% | +2.8% | |
| Q4 2017 | -1.7% | -1.4% | +0.3% | |
| Q3 2017 | -0.9% | -0.3% | -3.5% | |
| Q2 2017 | -0.1% | -0.1% | +2.3% | |
| Q1 2017 | +8.8% | +8.1% | +10.1% | |
| Q4 2016 | -0.7% | -0.3% | +17.4% | |
| Q3 2016 | +1.0% | +0.6% | -7.5% | |
| Q2 2016 | -0.6% | -0.6% | +9.1% | |
| Q1 2016 | -2.2% | — | — | |
| Q4 2015 | -1.1% | — | — | |
| Q3 2015 | +1.0% | — | — | |
| Q2 2015 | +2.4% | — | — | |
| Q1 2015 | -1.4% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | +0.3% | — | — | |
| Q2 2014 | -1.7% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q3 2013 | +0.0% | — | — | |
| Q2 2013 | -3.7% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +1.1% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +1.9% | — | — | |
| Q1 2012 | +0.0% | — | — |
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