Our Commitment to Financial Safety and Soundness
Carter Bank & Trust has served customers, businesses, and communities across Virginia and North Carolina for nearly 50 years. We remain prepared to protect your finances by offering excellent deposit insurance, maintaining a strong balance sheet, and keeping reserves well above the required level.
We are proud of Carter Bank’s financial position, and knowing the strength of your financial institution is important for getting the most out of your money and making sure it is secure.
At Carter Bank, we believe in protecting your money, and each depositor is insured through the FDIC (Federal Deposit Insurance Corporation) coverage up to $250,000.
Learn more about FDIC insurance rules for deposits that exceed $250,000. Use the Electronic Deposit Insurance Estimator (EDIE) to calculate your coverage using specific deposit accounts.
In addition, we offer additional services to extend the coverage of deposits beyond $250,000. Using solutions from IntraFi®, Carter Bank customers can rest assured and keep their banking simple with access to millions in FDIC insurance for deposits, both large and small.
Capital and Liquidity
Banks are required to have sufficient capital, which serves as the first line of defense to cover any losses. Capital funds are set aside as reserves against economic shocks, like recessions.
At Carter Bank, we are well-capitalized and well-positioned to meet our customers’ needs and protect the bank’s assets. We will continue to rise to any challenge and embrace every opportunity in our tradition of care, dedication to safety and soundness, and commitment to performance excellence.
Carter Bank maintains strong capital levels in order to effectively operate in all business cycles. The bank also carries ample loan loss reserves, which are available should the loan portfolio experience any loss during weak economic times.
Carter Bank also maintains a very strong liquidity profile. The bank maintains large borrowing facilities with the Federal Home Loan Bank and other correspondent banks, in addition to its investment portfolio which can be sold or pledged for additional borrowing.
We will continue to rise to any challenge and embrace every opportunity in our tradition of care, dedication to safety and soundness, and commitment to performance excellence.