Carter Bankshares Inc. Reports Q1 2025: 9.7% Deposit Growth, 72.2% Loan Production at 6.92% Rate

Reuters

05/08

Carter Bankshares Inc. Reports Q1 2025: 9.7% Deposit Growth, 72.2% Loan Production at 6.92% Rate

Carter Bankshares Inc. has reported its financial results for the first quarter of 2025, highlighting a strong deposit growth of 9.7% compared to the first quarter of 2024. The bank's assets were reported to be $4.7 billion, with loans totaling $3.7 billion and deposits at $4.2 billion. The company also noted that 72.2% of loan production was funded at a weighted average rate of 6.92% during this period, with construction loans of approximately $450 million expected to be funded over the next 12 to 18 months. In addition, Carter Bankshares announced its intent to acquire First Reliance Bank's two North Carolina branches, expanding its branch network into strategic growth markets like Charlottesville and Raleigh. This expansion includes commercial and retail teams to bolster their presence. These updates reflect Carter Bankshares' ongoing efforts to enhance its market position and pursue growth opportunities.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Carter Bankshares Inc. published the original content used to generate this news brief on May 07, 2025, and is solely responsible for the information contained therein.

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The company also noted that 72.2% of loan production was funded at a weighted average rate of 6.92% during this period, with construction loans of approximately $450 million expected to be funded over the next 12 to 18 months. In addition, Carter Bankshares announced its intent to acquire First Reliance Bank's two North Carolina branches, expanding its branch network into strategic growth markets like Charlottesville and Raleigh. This expansion includes commercial and retail teams to bolster their presence. These updates reflect Carter Bankshares' ongoing efforts to enhance its market position and pursue growth opportunities.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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Reports Q1 2025: 9.7% Deposit Growth, 72.2% Loan Production at 6.92% Rate\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2025-05-08 02:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Carter Bankshares Inc. Reports Q1 2025: 9.7% Deposit Growth, 72.2% Loan Production at 6.92% Rate\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Carter Bankshares Inc. has reported its financial results for the first quarter of 2025, highlighting a strong deposit growth of 9.7% compared to the first quarter of 2024. The bank's assets were reported to be $4.7 billion, with loans totaling $3.7 billion and deposits at $4.2 billion. The company also noted that 72.2% of loan production was funded at a weighted average rate of 6.92% during this period, with construction loans of approximately $450 million expected to be funded over the next 12 to 18 months. In addition, Carter Bankshares announced its intent to acquire First Reliance Bank's two North Carolina branches, expanding its branch network into strategic growth markets like Charlottesville and Raleigh. 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Carter Bankshares Inc. published the original content used to generate this news brief on May 07, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CARE","symbol_name":"Carter Bank & Trust","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250507:nNDL7njmFY:1","article_id":"2533950073","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2533950073","pubTimestamp":1746643034,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Carter Bankshares Inc. has reported its financial results for the first quarter of 2025, highlighting a strong deposit growth of 9.7% compared to the first quarter of 2024. 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