Carter Bankshares is a bank holding company headquartered in Martinsville, Virginia, operating through its sole subsidiary, Carter Bank & Trust, a full-service community bank with 64 branches across Virginia and North Carolina and roughly $4.9B in total assets. Carter Bank & Trust offers deposit accounts, commercial real estate loans, C&I loans, residential mortgages, home equity lines of credit, auto loans, and treasury and cash management services for business customers, delivered through its branch network and digital channels. The bank earns revenue primarily through net interest income — the spread between interest earned on loans and investment securities and interest paid on deposits and borrowings. NIM is the key profit driver, influenced by loan and deposit volumes, the interest rate environment, and credit quality. The bank also earns fee income from banking services and mortgage originations, where some loans are originated and sold rather than held on the balance sheet. Carter Bank & Trust positions itself as a relationship-oriented community bank focused on individuals and smaller businesses in its local Virginia and North Carolina markets. Carter Bank & Trust was formed in 2006 through the simultaneous merger of ten Virginia community banks. In May 2025, Carter Bank & Trust expanded into the Mooresville and Winston-Salem, North Carolina markets by acquiring two branch locations and approximately $55.9M in deposits from First Reliance Bank.