Carter Bankshares, Inc. Form 8-K Summary
Business Context and Reporting Period
Carter Bankshares, Inc. (NASDAQ: CARE) filed a Current Report on Form 8-K dated August 11, 2026. The filing announces the establishment of the Carter Bankshares, Inc. Dividend Reinvestment and Stock Purchase Plan (the "Plan").
Key Financial Metrics
This filing is a corporate action report and does not contain financial performance data. The text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes and Corporate Actions
- Plan Establishment: The Board of Directors established a Dividend Reinvestment and Stock Purchase Plan.
- Share Offering: The Company will offer up to 1,000,000 shares of Common Stock ($1.00 par value) to existing shareholders.
- Participation Methods: Shareholders may purchase additional shares through dividend reinvestment or additional cash purchases.
- Administration: The Plan is administered by Computershare Trust Company, N.A.
- Effective Date: The registration statement on Form S-3D became effective on August 11, 2026.
Guidance, Outlook, and Timing
- Enrollment: Shareholders may enroll at any time.
- Reinvestment Start Date: Dividend reinvestments will commence with the first dividend declared and paid after August 24, 2026.
- Exclusion: The dividend declared on July 22, 2026 (payable August 24, 2026) is not eligible for reinvestment under the Plan.
Investor Verification Checklist
- Verify the full terms and conditions in the Plan prospectus filed as part of the Form S-3D registration statement.
- Confirm enrollment procedures and deadlines with Computershare Trust Company, N.A.
- Review the attached press release (Exhibit 99.1) for additional details on the Plan's structure.
- Note that the upcoming dividend payable on August 24, 2026, will be paid in cash and not reinvested.