Carter Bankshares, Inc. - Common Stock (CARE)

Competitors to Carter Bankshares, Inc. - Common Stock (CARE)

Atlantic Union Bankshares Corporation

Atlantic Union Bankshares Corporation competes with Carter Bankshares by providing a full suite of banking services including consumer and commercial banking. Atlantic Union has a solid presence in Virginia and surrounding areas, which overlaps with Carter's market. While both banks focus on customer service, Atlantic Union benefits from larger assets and capital, allowing for more competitive loan offerings and technological advancements, positioning it ahead in the competition.

BB&T Corporation (now part of Truist Financial Corporation) 

BB&T, now under Truist Financial Corporation after its merger with SunTrust, competes with Carter Bankshares by offering a wider range of services that include investment banking, asset management, and various financial services for individuals and businesses. While Carter Bankshares positions itself as a community bank focusing on personalized service, Truist leverages its vast financial resources and diverse service offerings, providing it with a significant competitive advantage in the regional market.

First Community Bankshares, Inc. 

First Community Bankshares, Inc. competes with Carter Bankshares primarily in the community banking sector. Both banks offer similar products such as personal and commercial loans, mortgages, and deposit accounts. First Community Bankshares has a strong reputation for local service and community engagement, which can attract similar customer bases. However, Carter Bankshares has a slightly broader geographic presence in Virginia and North Carolina, giving it an edge in market reach and brand recognition.

Old Point Financial Corporation 

Old Point Financial competes with Carter Bankshares by serving similar customer demographics and offering comparable retail banking products and services. Both banks emphasize strong community ties and local engagement. However, Old Point's long-standing history and established relationships in the area provide it with a competitive edge, particularly in trust services and wealth management, which can appeal to a more affluent clientele.

TowneBank 

TowneBank competes with Carter Bankshares by focusing on the same target market in Virginia and providing extensive financial services tailored to both individuals and businesses. TowneBank has successfully differentiated itself through its customer service and community activities. With greater assets and a more diversified range of financial products, TowneBank may provide a significant competitive advantage that could attract larger commercial clients compared to Carter Bankshares.