Carter Bankshares: Resolving A Non-Performing Loan Is A Major Step
Carter Bankshares has successfully resolved a significant non-performing loan, resulting in a $65 million gain. This transaction has increased the company's tangible book value to $22.69 per share. Following the sale, Carter Bankshares is well-positioned with over $228 million in cash to invest in future opportunities.
- ▪Carter Bankshares realized a $65 million gain from the sale of non-performing loans.
- ▪The company's tangible book value increased to $22.69 per share after the transaction.
- ▪Carter Bankshares reported a Q1 EPS of $3.88, although underlying earnings are closer to $0.40 per share.
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