Carter Bank & Trust is headquartered in Martinsville and is the 9th largest bank in the state of Virginia. It is also the 296th largest bank in the nation. It was established in 2006 and as of March of 2021, it had grown to 818 employees at 94 locations. Carter Bank & Trust's money market rates are 14% higher than the national average, and it has an A health rating.
Carter Bank & Trust
GREAT institution to work with. MANY years with them as a deposit account - and have taken out loans. Easy to work with, fees are not existent and the employees are great! Would not ever expect such personal service from a financial institution. Thank you Carter Bank & Trust.
Been a Customer for 30 Years
I opened my first checking account when I was 16 years old and it was with Carter Bank and Trust. It is still open. I love that the tellers recognize me when I walk in and know me by name. They are always friendly and helpful, regardless of how busy they may be. Most locations have extended drive-thru hours for those of us that cannot get to the bank during regular business hours. While the bank does not have online banking like most other banks do, this keeps them from charging outrageous fees the way those other banks do. This keeps me a loyal, happy customer.
Carter is nothing special
While I like Carter Bank and Trust in some ways, they don't have a decent online banking platform and no mobile app. Their savings account is okay but nothing special. I use their checking account but, again, nothing special. I do like the people working in the branch I use. They are friendly. Overall, they are a small bank and nothing special and I will probably be swapping at some point to a bank with up-to-date online banking platforms.
Do Not Recommend
They do not contact you, have hidden fees, and give you incorrect information when you call in. I would not recommend them with so many superior choices available.
Data as of Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58596 |
| Year Established | 2006 |
| Employees | 818 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.95% |
| Return on Equity - YTD | 9.57% |
| Annual Interest Income | $33.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $4.14B$4.00B |
| Loans | Q1 2021vs Q1 2020 | $2.90B$2.93B |
| Deposits | Q1 2021vs Q1 2020 | $3.69B$3.47B |
| Equity Capital | Q1 2021vs Q1 2020 | $387.6MM$474.8MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $116.9MM$42.9MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $32.0MM$40.5MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $14.0MM$18.1MM |
