Carter Bankshares, Inc. (CARE) Balance Sheet
CARE balance sheet, 2025
December 31, 2025 · U.S. dollars$4.85B assets = $4.43B liabilities + $419.7M equity
Both columns are drawn to the same scale: what CARE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CARE financial health
Descriptive bands, not a rating. Fiscal 2025.
CARE balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.51B2016 | $4.85B2025 | +0.8%/yr | |
| Total liabilities | $4.07B2016 | $4.43B2025 | +0.9%/yr | |
| Shareholders’ equity | $434.6M2016 | $419.7M2025 | −0.4%/yr | |
| Cash & short-term investments | $855.7M2016 | $488.7M2025 | −6.0%/yr | |
| Total debt | $10.0M2019 | $178.5M2025 | +61.7%/yr | |
| Net cash (debt) | $858.4M2019 | $310.2M2025 | −$548.3M | |
| Working capital | −$3.21B2016 | −$3.72B2025 | −$514.1M | |
| Book value per share | $16.552016 | $18.692025 | +1.4%/yr | |
| Debt / equity | 0.022019 | 0.432025 | +0.40 | |
| Shares outstanding | 26.3M2016 | 22.5M2025 | −1.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CARE assets
CARE liabilities and equity
CARE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CARE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $488.7M | $786.1M | $774.2M | $883.1M | $1.20B | $1.02B | $868.4M | $1.08B | $1.22B | $855.7M |
| Cash & equivalents | $105.2M | $131.2M | $54.5M | $46.9M | $277.8M | $241.9M | $125.8M | $293.6M | $268.6M | $694.8M |
| Short-term investments | $383.5M | $655.0M | $719.6M | $836.3M | $922.4M | $778.7M | $742.6M | $782.8M | $947.2M | $160.9M |
| Receivables | $17.8M | $63.5M | $59.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $8.4M | $10.9M | $15.7M | $18.3M | $33.7M | $39.8M | $23.6M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $488.7M | $849.6M | $833.5M | $883.1M | $1.20B | $1.02B | $868.4M | $1.08B | $1.22B | $855.7M |
| Property, plant & equipment (net) | $72.5M | $74.3M | $73.7M | $72.1M | $75.3M | $85.3M | $85.9M | $85.8M | $77.3M | $96.6M |
| Goodwill & intangible assets | $2.1M | $0 | $0 | $0 | $0 | $0 | $124.4M | $62.2M | $59.9M | $59.8M |
| Long-term investments | $701.9M | $665.0M | $779.0M | $836.3M | $922.4M | $778.7M | $742.6M | $782.8M | $947.2M | $879.7M |
| Other non-current assets | $3.59B | $3.07B | $2.83B | $2.41B | $1.94B | $2.29B | $2.18B | $2.03B | $1.81B | $2.61B |
| Total assets | $4.85B | $4.66B | $4.51B | $4.20B | $4.13B | $4.18B | $4.01B | $4.04B | $4.11B | $4.51B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $3.63B | $3.70B | $3.68B | $3.50B | $3.59B | $3.67B | $4.06B |
| Short-term debt | — | $25.9M | $324.1M | $17.9M | $4.0M | $3.0M | — | — | — | — |
| Total current liabilities | $4.21B | $4.15B | $3.72B | $3.65B | $3.70B | $3.68B | $3.50B | $3.59B | $3.67B | $4.06B |
| Long-term debt | $178.5M | $70.0M | $393.4M | $198.4M | $7.0M | $35.0M | $10.0M | $0 | $0 | $0 |
| Other long-term liabilities | $42.8M | $51.5M | $46.0M | $27.1M | $20.7M | $19.4M | $18.8M | $12.2M | $10.6M | $7.0M |
| Total liabilities | $4.43B | $4.27B | $4.16B | $3.88B | $3.73B | $3.74B | $3.53B | $3.60B | $3.68B | $4.07B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $22.1M | $23.1M | $23.0M | $24.0M | $26.4M | $26.4M | $26.3M | $26.3M | $26.3M | $26.3M |
| Retained earnings (deficit) | $365.0M | $333.6M | $309.1M | $285.6M | $235.5M | $254.6M | $304.2M | $277.8M | $265.9M | $266.2M |
| Accumulated other comprehensive income | −$42.2M | −$64.5M | −$71.4M | −$85.6M | $1.7M | $15.7M | $127,000 | −$10.1M | −$2.2M | −$24.1M |
| Total shareholders' equity | $419.7M | $384.3M | $351.2M | $328.6M | $407.6M | $440.2M | $473.1M | $436.2M | $432.1M | $434.6M |
| Key figures | ||||||||||
| Total debt | $178.5M | $70.0M | $393.4M | $198.4M | $7.0M | $35.0M | $10.0M | — | — | — |
| Net cash (debt) | $310.2M | $716.1M | $380.8M | $684.7M | $1.19B | $985.6M | $858.4M | — | — | — |
| Working capital | −$3.72B | −$3.30B | −$2.89B | −$2.77B | −$2.50B | −$2.66B | −$2.64B | −$2.51B | −$2.45B | −$3.21B |
| Tangible book value | $417.6M | $384.3M | $351.2M | $328.6M | $407.6M | $440.2M | $348.7M | $374.0M | $372.2M | $374.8M |
| Book value per share | $18.69 | $16.54 | $15.11 | $13.36 | $15.47 | $16.69 | $17.96 | $16.61 | $16.46 | $16.55 |
| Shares outstanding | 22.5M | 23.2M | 23.2M | 24.6M | 26.3M | 26.4M | 26.3M | 26.3M | 26.3M | 26.3M |
| Current ratio | 0.12 | 0.20 | 0.22 | 0.24 | 0.32 | 0.28 | 0.25 | 0.30 | 0.33 | 0.21 |
| Quick ratio | 0.12 | 0.20 | 0.22 | 0.24 | 0.32 | 0.28 | 0.25 | 0.30 | 0.33 | 0.21 |
| Debt / equity | 0.43 | 0.18 | 1.12 | 0.60 | 0.02 | 0.08 | 0.02 | — | — | — |
| Equity / assets | 8.7% | 8.2% | 7.8% | 7.8% | 9.9% | 10.5% | 11.8% | 10.8% | 10.5% | 9.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $681.4M | $584.0M | $488.7M | $771.2M | $791.1M | $770.6M | $786.1M | $785.3M | $747.9M | $816.9M | $774.2M | $848.8M |
| Cash & equivalents | $41.1M | $228.3M | $105.2M | $106.9M | $99.9M | $89.0M | $131.2M | $105.0M | $61.7M | $108.1M | $54.5M | $55.4M |
| Short-term investments | $640.3M | $355.6M | $383.5M | $664.3M | $691.2M | $681.6M | $655.0M | $680.3M | $686.1M | $708.8M | $719.6M | $793.4M |
| Receivables | $16.9M | $18.1M | $17.8M | $63.6M | $64.0M | $63.8M | $63.5M | $62.3M | $60.2M | $60.0M | $59.4M | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$122.0M | −$94.9M | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $122.0M | $94.9M | $0 | $0 |
| Total current assets | $41.1M | $584.0M | $488.7M | $834.9M | $855.1M | $834.4M | $849.6M | $847.6M | $808.1M | $876.9M | $833.5M | $848.8M |
| Property, plant & equipment (net) | $69.8M | $71.0M | $72.5M | $71.7M | $72.1M | $73.9M | $74.3M | $73.4M | $73.3M | $73.3M | $73.7M | $73.9M |
| Goodwill & intangible assets | $2.0M | $2.1M | $2.1M | $2.2M | $2.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $653.0M | $672.4M | $701.9M | $674.6M | $701.4M | $691.8M | $665.0M | $685.5M | $691.2M | $708.8M | $779.0M | $793.4M |
| Other non-current assets | $4.04B | $3.47B | $3.59B | $3.26B | $3.15B | $3.10B | $3.07B | $3.01B | $2.96B | $2.90B | $2.83B | $2.74B |
| Total assets | $4.80B | $4.80B | $4.85B | $4.84B | $4.78B | $4.70B | $4.66B | $4.61B | $4.53B | $4.55B | $4.51B | $4.45B |
| Liabilities | ||||||||||||
| Short-term debt | — | — | — | $135.5M | $113.5M | $30.0M | $25.9M | $45.0M | — | — | $324.1M | — |
| Total current liabilities | $4.20B | $4.24B | $4.21B | $4.21B | $4.22B | $4.20B | $4.15B | $4.09B | $3.88B | $3.83B | $3.72B | $3.56B |
| Long-term debt | $0 | $0 | $178.5M | $175.5M | $113.5M | $55.0M | $70.0M | $90.0M | $238.0M | $310.5M | $393.4M | $514.1M |
| Other long-term liabilities | $4.26B | $59.1M | $42.8M | $41.4M | $42.7M | $42.6M | $51.5M | $51.5M | $48.8M | $54.9M | $46.0M | $51.2M |
| Total liabilities | $4.26B | $4.29B | $4.43B | $4.43B | $4.38B | $4.30B | $4.27B | $4.23B | $4.17B | $4.20B | $4.16B | $4.12B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $22.2M | $22.2M | $22.1M | $22.4M | $22.7M | $23.2M | $23.1M | $23.1M | $23.1M | $23.0M | $23.0M | $23.0M |
| Retained earnings (deficit) | $477.4M | $450.7M | $365.0M | $356.5M | $351.1M | $342.6M | $333.6M | $325.3M | $319.7M | $314.9M | $309.1M | $311.0M |
| Accumulated other comprehensive income | −$32.9M | −$43.0M | −$42.2M | −$46.1M | −$52.2M | −$56.4M | −$64.5M | −$53.3M | −$69.6M | −$69.8M | −$71.4M | −$93.6M |
| Total shareholders' equity | $539.1M | $504.9M | $419.7M | $412.8M | $405.6M | $401.8M | $384.3M | $386.8M | $364.4M | $359.1M | $351.2M | $330.6M |
| Key figures | ||||||||||||
| Total debt | — | — | $178.5M | $175.5M | $113.5M | $55.0M | $70.0M | $90.0M | $238.0M | $310.5M | $393.4M | $514.1M |
| Net cash (debt) | — | — | $310.2M | $595.7M | $677.6M | $715.6M | $716.1M | $695.3M | $509.9M | $506.4M | $380.8M | $334.7M |
| Working capital | −$4.16B | −$3.65B | −$3.72B | −$3.38B | −$3.37B | −$3.37B | −$3.30B | −$3.24B | −$3.07B | −$2.95B | −$2.89B | −$2.71B |
| Tangible book value | $537.1M | $502.8M | $417.6M | $410.6M | $403.4M | $401.8M | $384.3M | $386.8M | $364.4M | $359.1M | $351.2M | $330.6M |
| Book value per share | $24.69 | $23.11 | $19.20 | $18.52 | $17.79 | $17.56 | $16.54 | $16.77 | $15.96 | $15.77 | $15.30 | $14.41 |
| Shares outstanding | 21.8M | 21.8M | 21.9M | 22.3M | 22.8M | 22.9M | 23.2M | 23.1M | 22.8M | 22.8M | 23.0M | 22.9M |
| Current ratio | 0.01 | 0.14 | 0.12 | 0.20 | 0.20 | 0.20 | 0.20 | 0.21 | 0.21 | 0.23 | 0.22 | 0.24 |
| Quick ratio | 0.17 | 0.14 | 0.12 | 0.20 | 0.20 | 0.20 | 0.20 | 0.21 | 0.21 | 0.23 | 0.22 | 0.24 |
| Debt / equity | — | — | 0.43 | 0.43 | 0.28 | 0.14 | 0.18 | 0.23 | 0.65 | 0.86 | 1.12 | 1.56 |
| Equity / assets | 11.2% | 10.5% | 8.7% | 8.5% | 8.5% | 8.5% | 8.2% | 8.4% | 8.0% | 7.9% | 7.8% | 7.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 5, 2026); data from EODHD.
CARE financial position
At the end of fiscal 2025 (December 31, 2025), Carter Bankshares had total assets of $4.9 billion (up 4.1% from a year earlier), total liabilities of $4.4 billion and shareholders' equity of $419.7 million. It held $488.7 million in cash and short-term investments against $178.5 million of debt, a net cash position of $310.2 million. Its current ratio was 0.12. In the latest quarter (ended June 30, 2026) total assets were $4.8 billion and equity $539.1 million.
Related: CARE income statement, CARE cash flow statement, CARE key metrics. See the CARE stock overview for the latest quote and news.
CARE balance sheet FAQ
What are Carter Bankshares's total assets?
Carter Bankshares reported total assets of $4.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.7 billion a year earlier.
How much debt does Carter Bankshares have?
Carter Bankshares had $178.5 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.43.
How much cash does Carter Bankshares have?
Carter Bankshares held $488.7 million in cash and short-term investments at the end of fiscal 2025; with $178.5 million of debt that is net cash of $310.2 million.
What is Carter Bankshares's book value?
Carter Bankshares's shareholders' equity (book value) was $419.7 million at the end of fiscal 2025, or $18.69 per share.
What is Carter Bankshares's current ratio?
Carter Bankshares had current assets of $488.7 million and current liabilities of $4.2 billion, a current ratio of 0.12 (current liabilities exceed current assets).
How much goodwill does Carter Bankshares have?
Carter Bankshares carried $2.1 million of goodwill and intangible assets, 0.0% of total assets, at the end of fiscal 2025.