Carter Bank & Trust
Martinsville, Virginia, Martinsville City County
$4.8B in total assets, the 300th largest of 4,309 US banks and 7th of 57 headquartered in Virginia.
- FDIC certificate
- 58596
- Established
- 2006
- Owned by
- Carter Bankshares Inc
- Primary regulator
- FED
- Website
- www.carterbank.com
At a glance
Compared with 22 banks headquartered in Virginia with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $4.8B | 98% | $1.8B | |
| Loans | $3.7B | 98% | $1.3B | |
| Deposits | $4.2B | 98% | $1.6B | |
| Return on assets | 2.15% | 98% | 1.19% | |
| Net interest margin | 3.33% | 27% | 3.68% | |
| Efficiency ratio | 38.5% | 2% | 60.5% | |
| Equity to assets | 11.30% | 68% | 10.33% | |
| Loans to deposits | 89% | 46% | 90% |
Growth
Total assets grew 3.1% a year over the last 5 years and -0.2% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Dec 2006 | First National Bank Rocky Mount, VA | $301M |
| Dec 2006 | Patrick Henry National Bank Bassett, VA | $396M |
| Dec 2006 | Peoples National Bank Danville, VA | $363M |
| Dec 2006 | Blue Ridge Bank, National Association Floyd, VA | $248M |
| Dec 2006 | Community National Bank South Boston, VA | $245M |
| Dec 2006 | Mountain National Bank Galax, VA | $240M |
| Dec 2006 | Shenandoah National Bank Staunton, VA | $117M |
| Dec 2006 | Central National Bank Lynchburg, VA | $127M |
| Dec 2006 | Patriot Bank, National Association Fredericksburg, VA | $243M |
| Dec 2006 | First National Exchange Bank Roanoke, VA | $213M |
Where they operate
66 branches in 38 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Franklin County, VA | $338M | 28.0% | 1 of 6 |
| Martinsville City County, VA | $337M | 36.2% | 1 of 7 |
| Henry County, VA | $334M | 67.8% | 1 of 5 |
| Guilford County, NC | $305M | 2.3% | 10 of 22 |
| Danville City County, VA | $295M | 18.3% | 2 of 8 |
| Halifax County, VA | $178M | 21.1% | 3 of 7 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 57 branches since 2016 (123 to 66, −46.3%). 11 opened, 0 acquired, 68 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 123 | |||
| 2017 | Closed 13 in 2 states | 0 | 13 | −13 | 110 |
| 2018 | Sold 1 branch to Highlands Community BankClosed 4 in 2 states | 0 | 5 | −5 | 105 |
| 2019 | Closed 4 in 2 states | 0 | 4 | −4 | 101 |
| 2020 | Opened 3 in 2 statesClosed 10 in 2 states | 3 | 10 | −7 | 94 |
| 2021 | Sold 3 branches to Pendleton Community Bank, Inc.Sold 1 branch to Farmers & Merchants Bank, opened Greensboro, closed 20 in 2 states | 1 | 24 | −23 | 71 |
| 2022 | Opened CharlotteClosed 4 in 2 states | 1 | 4 | −3 | 68 |
| 2023 | Opened CharlottesvilleClosed Roanoke and Wilson | 1 | 2 | −1 | 67 |
| 2024 | Opened Bassett and RaleighClosed Bassett and Lynchburg | 2 | 2 | 0 | 67 |
| 2025 | Opened 3 in North CarolinaClosed 3 in 2 states | 3 | 3 | 0 | 67 |
| 2026 through Q2 | Closed Roanoke | 0 | 1 | −1 | 66 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 47% | 36% | |
| 1-4 family residential | 22% | 30% | |
| Construction and land | 13% | 8% | |
| Multifamily | 11% | 7% | |
| Business (C&I) | 5% | 11% | |
| Consumer | 1% | 4% | |
| Farmland | 0% | 2% | |
| Other | 2% | 2% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 51% | 51% | |
| Time deposits | 44% | 23% | |
| Noninterest-bearing | 5% | 26% |
Brokered deposits are 4.3% of deposits (peers 6.4%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 1.01% | 0.33% |
| Net charge-offs, annualized | -0.82% | 0.06% |
| Reserves to loans | 1.48% | 1.01% |
| Leverage ratio | 11.73% | 10.38% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Virginia
Largest competitors in Franklin County, VA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/carter