Carter Bank Receives Federal Reserve Approval for State Membership
Carter Bankshares Inc.'s subsidiary, Carter Bank, has received approval to become a state member bank, now regulated by the Federal Reserve System through the Federal Reserve Bank of Richmond. The bank will also continue to be regulated by the Virginia State Corporation Commission. This transition aims to streamline regulatory structure and enhance operational efficiency.
Carter Bankshares Inc. announced that its wholly-owned subsidiary, Carter Bank, has received regulatory approval to become a state member bank, now regulated by the Board of Governors of the Federal Reserve System through the Federal Reserve Bank of Richmond. The company and Carter Bank will also continue to be regulated by the Bureau of Financial Institutions of the Virginia State Corporation Commission. This transition is aimed at streamlining the bank’s regulatory structure and enhancing operational efficiency. Only Carter Bankshares Inc. and its subsidiary are involved in this regulatory approval. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Carter Bankshares Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251113004970) on November 13, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)
