Carter Bankshares Files 8-K/A Amendment

TL;DR

Carter Bankshares filed an amendment to an 8-K. No new info, just a correction.

AI Summary

Carter Bankshares, Inc. filed an 8-K/A amendment on February 3, 2025, related to an event that occurred on December 10, 2024. The filing pertains to 'Other Events' and does not involve any specific dollar amounts or new material information beyond the amendment itself.

Why It Matters

This filing is an amendment to a previous report, indicating a correction or addition to previously disclosed information, which could be important for investors to review for the most accurate company status.

Risk Assessment

Risk Level: low — The filing is an amendment to a previous 8-K, indicating a procedural update rather than a significant new event or financial change.

Key Numbers

• 2024-12-10 — Earliest Event Date (Date of the event reported in the original 8-K)
• 2025-02-03 — Filing Date (Date the 8-K/A amendment was filed)

Key Players & Entities

• Carter Bankshares, Inc. (company) — Registrant
• Virginia (location) — State of incorporation
• 276-656-1776 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value CARE NASDAQ Global Select Mar

Filing Documents

• care-20241210.htm (8-K/A) — 25KB
• 0001829576-25-000010.txt ( ) — 154KB
• care-20241210.xsd (EX-101.SCH) — 2KB
• care-20241210_lab.xml (EX-101.LAB) — 23KB
• care-20241210_pre.xml (EX-101.PRE) — 13KB
• care-20241210_htm.xml (XML) — 3KB

01. - Other Events

ITEM 8.01. - Other Events. Carter Bankshares, Inc. announces the acquisition of two North Carolina branches from First Reliance Bank On December 10, 2024, Carter Bankshares, Inc. (NASDAQ:CARE) (the "Company") filed a Current Report on Form 8-K to report that its wholly owned subsidiary, Carter Bank, and First Reliance Bank, the wholly-owned subsidiary of First Reliance Bancshares, Inc. (OTC: FSRL), entered into a definitive Purchase and Assumption Agreement (the "Original Agreement"). Pursuant to the Original Agreement, Carter Bank agreed to acquire deposits associated with First Reliance Bank's two branches in Mooresville and Winston-Salem, North Carolina, as well as acquire First Reliance Bank's Winston-Salem branch facility. On February 3, 2025, the Company and First Reliance Bancshares, Inc. entered into Amendment No. 1 (the "Amendment") to the Original Agreement to provide that Carter Bank will also acquire First Reliance Bank's branch facility in Mooresville, North Carolina, as well as to clarify certain other provisions of the Agreement. Under the Original Agreement as updated by the Amendment, Carter Bank has agreed to assume certain deposit liabilities, and acquire cash, personal property and other fixed assets associated with the Mooresville and Winston-Salem, North Carolina branches of First Reliance Bank. Since entering into the Agreement, the parties have determined that it is in their best interest, and in the best interest of the customers of First Reliance Bank's branch in Mooresville, North Carolina, for that branch facility to remain open following consummation of the transaction. Important Note Regarding Forward-Looking Statements Certain statements contained herein are "forward looking statements" within the meaning of federal and state securities laws, including Section 27A of the Securities Act of 1933 and Section

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARTER BANKSHARES, INC. (Registrant) Date: February 3, 2025 By: /s/ Wendy S. Bell Name: Wendy S. Bell Title: Chief Financial Officer

View Full Filing

View this 8-K/A filing on SEC EDGAR