Carter Bank & Trust


Overview / Commentary
276-632-2901
4 East Commonwealth Boulevard
Martinsville, VA 24112-1920

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.

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Carter Bank & Trust

Posted by: |

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

Posted by: |

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

Posted by: |

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.

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Health

Health Grade Components

Overall
FDIC Certificate #58596
Year Established2006
Employees818
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD9.57%
Annual Interest Income$33.0MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$4.14B$4.00B
LoansQ1 2021vs Q1 2020$2.90B$2.93B
DepositsQ1 2021vs Q1 2020$3.69B$3.47B
Equity CapitalQ1 2021vs Q1 2020$387.6MM$474.8MM
Loan Loss AllowanceQ1 2021vs Q1 2020$116.9MM$42.9MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$32.0MM$40.5MM
Real Estate OwnedQ1 2021vs Q1 2020$14.0MM$18.1MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Carter Bank & Trust; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Carter Bank & Trust Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%-$5kChristmas Club
0.10%--Carter Savings
0.10%--Business Carter Savings

Carter Bank & Trust Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$5m*-Carter Money Market
OTHER TIERS: 0.10% $2.5k - $25k | 0.15% $25k - $50k | 0.17% $50k - $100k | 0.20% $100k - $500k | 0.25% $500k - $1m | 0.35% $1m - $2.5m | 0.40% $2.5m - $5m
0.50%*$5m*-Business Carter Money Market
OTHER TIERS: 0.10% $2.5k - $25k | 0.15% $25k - $50k | 0.17% $50k - $100k | 0.20% $100k - $500k | 0.25% $500k - $1m | 0.35% $1m - $2.5m | 0.40% $2.5m - $5m

Carter Bank & Trust Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$5k*-Business Interest Checking
OTHER TIERS: 0.10% Up to $5k
0.08%*$1.5k*-Premium Interest Checking
OTHER TIERS: 0.05% Up to $1.5k
0.05%--Direct Interest Checking
0.05%--50+ Interest Checking

Carter Bank & Trust CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%$100-5 Year CD
0.35%$100-Business 5 Year CD
0.30%$100-4 Year CD
0.30%$100-Business 4 Year CD
0.22%$100-3 Year CD
0.22%$100-Business 3 Year CD
0.17%$100-2 Year CD
0.17%$100-Business 2 Year CD
0.12%$100-1 Year CD
0.12%$100-Business 1 Year CD
0.10%$2.5k-6 Month CD
0.10%$2.5k-Business 6 Month CD

Carter Bank & Trust IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%$100-5 Year IRA Certificate
0.30%$100-4 Year IRA Certificate
0.22%$100-3 Year IRA Certificate
0.17%$100-2 Year IRA Certificate
0.12%$100-1 Year IRA Certificate
0.10%$2.5k-6 Month IRA Certificate
Locations

Availability



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