Carter Bank & Trust Set To Expand Into Charlotte

Rhea-AI Summary

Carter Bank & Trust (NASDAQ:CARE) is set to enhance its presence in the Charlotte market by opening a new regional banking hub at 500 East Morehead St. in early May. This second North Carolina location will serve as a flagship for the $4.1 billion community bank, featuring a full-service retail center and a commercial banking team targeting small to mid-sized businesses. The 5,000 square foot facility emphasizes energy efficiency and sustainable practices, incorporating advanced technologies to improve customer experience.

Positive

• Expansion into the Charlotte market is aligned with growth strategy.
• New banking hub will serve small to mid-sized businesses, enhancing service offerings.
• Energy-efficient facility with sustainable practices reflects commitment to modern banking.

Negative

• None.

The Bank will open a regional banking hub, on East Morehead, for commercial and retail banking in early May.

MARTINSVILLE, VA / ACCESSWIRE / April 13, 2022 / Carter Bank & Trust (NASDAQ:CARE) announced today that it is expanding in the Charlotte-market with the opening of its second North Carolina regional banking hub, located at 500 East Morehead St.

The hub will be a flagship center for the $4.1 billion community bank headquartered in Martinsville, Va. and will house the regional commercial banking team and a full-service retail financial center.

"Charlotte is a vibrant, high-growth market within a two-hour drive of our headquarters, and we couldn't be more excited to be in the heart of its thriving financial services community," said Chief Executive Officer Litz Van Dyke. "Extending Carter Bank's footprint into Charlotte was the logical next step in our growth strategy for North Carolina following the establishment of our midtown Greensboro hub in 2019."

In the Greater Charlotte market, our commercial team will be focused on small to mid-sized businesses, while the retail team of universal bankers will focus on providing customers personalized banking solutions to fit their needs. The universal bankers will deliver a full-service experience ranging from a traditional teller transaction to opening accounts and taking loan applications.

"We've put together a team of highly-experienced and well-respected Bankers in the Charlotte-area to lead our immersion into the market, by offering full-service banking solutions that are personalized to each customer's needs," Carter Bank & Trust President Brad Langs said. "This location will house our new universal banker service model and new technologies that we will look to add to other branches to improve the customer experience throughout our network.

"In addition to the new service model, Carter Bank & Trust has made a commitment to sustainable business practices and has incorporated many of them into both the building and operation of East Morehead."

The 5,000 square foot energy-efficient facility is outfitted with LEED compliant, USA sourced building materials and the floor plan has been optimized to allow for the hybrid nature of today's world of conducting business both in-person and virtually.

The East Morehead location is scheduled to open in early May.

About Carter Bank & Trust

Headquartered in Martinsville, Va., Carter Bank & Trust is a $4.1 billion, state-chartered community bank with branches in Virginia and North Carolina. Since 1974, Carter Bank & Trust has built a reputation upon a tradition of care for the communities it serves through convenience, local service, and custom solutions for all customers. Additional information about Carter Bank & Trust is available at www.CBTCares.com.

Media Contact:

Brooks Taylor
Brooks.Taylor@CBTCares.com
276.806.5445

SOURCE: Carter Bankshares, Inc.

View source version on accesswire.com:
https://www.accesswire.com/697305/Carter-Bank-Trust-Set-To-Expand-Into-Charlotte

FAQ

When is the new Carter Bank & Trust hub in Charlotte opening?

The new Carter Bank & Trust hub in Charlotte is set to open in early May.

What services will the new Carter Bank & Trust hub offer?

The new hub will offer commercial banking services focused on small to mid-sized businesses, as well as a full-service retail financial center.

Where is the new Carter Bank & Trust hub located?

The new hub is located at 500 East Morehead St., Charlotte, NC.

What is the significance of the new banking hub for Carter Bank & Trust?

The new hub represents Carter Bank & Trust's strategic expansion into a high-growth market and enhances its service offerings.

What is the size and design of the new Carter Bank & Trust facility?

The new facility is 5,000 square feet and incorporates energy-efficient and sustainable design features.