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Stock impact report

Carter Bank & Trust Fails to File Annual Report With the FDIC [The Motley Fool]

Carter Bankshares, Inc. (CARE) 
NASDAQ:AMEX Investor Relations: carterbankandtrust.com
Company Research Source: The Motley Fool
Carter Bank & Trust ( NASDAQ:CARE The bank, based in Martinsville, Virginia, said in the filing that, along with its auditor, it is still evaluating the collateral behind an impaired loan relationship. "The results of a pending independent appraisal regarding the collateral supporting this impaired loan relationship could potentially impact the financial statements to be included in such Form 0-K if it results in a reserve being necessary for this loan relationship," Carter Bank & Trust's CFO, Wendy Ball, said in the filing. "In addition, there is a potential deficiency in internal controls primarily relating to the valuation of impaired loans within the Allowance for Loan Losses, which could affect prior periods." Banks Overall, allowance for loan losses at the bank improved in the fourth quarter of 209, according to the bank's fourth-quarter earnings release. The bank also did not have any loans modified as troubled debt restructurings through the first three quarters of 209, accord Show less Read more
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