Core Insights - Nearly 58,000 PG&E customers received over $50 million in financial assistance through the REACH program in 2024, with encouragement for eligible customers to apply for additional support programs like CARE and FERA [1][4] - PG&E contributed $55 million to expand the REACH program benefits, increasing maximum customer bill credits from $500 to $2,000 and allowing a larger pool of income-eligible customers to qualify for a 3-to-1 match on bill payments [2] - The REACH program funding was fully utilized by September 2024, with plans to reopen in January 2025 at a standard benefit level of up to $300 per household per year [3] CARE & FERA Programs - The CARE program offers a monthly discount of 20% or more on gas and electricity bills, while FERA provides an 18% discount on electricity for households of three or more [6] - In 2023, CARE and FERA programs collectively reduced customer bills by nearly $1 billion [4] Other Assistance Programs - PG&E also administers the Low Income Energy Assistance Program (LIHEAP), which has provided nearly $49 million to over 58,000 customers this year, offering one-time payments up to $1,000 for past due bills [5] - The Arrearage Management Plan (AMP) is available for eligible residential customers as a debt forgiveness plan [5] Customer Application and Funding Distribution - The largest number of approved applications and funding for REACH and REACH Triple Match were distributed across five counties, with specific funding amounts detailed for each county [7][8]

Financial Performance - Net income for the three months ended September 30, 2024, was $5,629 thousand, compared to $3,627 thousand for the same period in 2023, marking a significant increase of 55.2%[7] - Basic earnings per common share for the three months ended September 30, 2024, were $0.24, compared to $0.16 for the same period in 2023, representing a 50% increase[7] - Comprehensive income for the three months ended September 30, 2024, was $21,957,000, compared to a loss of $7,948,000 for the same period in 2023[9] - Net income for the nine months ended September 30, 2024, was $16,243,000, a decrease of 35.8% compared to $25,272,000 for the same period in 2023[15] - Net interest income for the three months ended September 30, 2024, was $28,798 thousand, up from $27,394 thousand for the same period in 2023, reflecting a 5.1% increase[7] - Net interest income for the nine months ended September 30, 2024 decreased to $85.3 million, down 10.2% from $94.9 million in the same period in 2023[185] Asset and Liability Management - Total assets increased to $4,613,435 thousand as of September 30, 2024, compared to $4,512,539 thousand at December 31, 2023, representing a growth of 2.2%[5] - Total liabilities increased to $4,226,610 thousand as of September 30, 2024, from $4,161,296 thousand at December 31, 2023, reflecting a rise of 1.6%[5] - Total deposits rose to $4,085,068 thousand as of September 30, 2024, from $3,721,915 thousand at December 31, 2023, indicating an increase of 9.8%[5] - The company had $1.6 billion in total loans pledged as collateral for borrowings at September 30, 2024, compared to $1.5 billion at December 31, 2023[128] - Federal Home Loan Bank borrowings decreased significantly to $90,000 thousand at September 30, 2024, down from $393,400 thousand at December 31, 2023, a reduction of 77.1%[128] Credit Quality and Loan Performance - The allowance for credit losses decreased to $80,909 thousand as of September 30, 2024, down from $97,052 thousand at December 31, 2023, a reduction of 16.6%[5] - The company experienced a recovery provision for credit losses of $(432) thousand for the three months ended September 30, 2024, compared to a provision of $1,105 thousand in the same period in 2023[7] - The company had zero loans in the process of foreclosure as of September 30, 2024, down from $2.0 million at December 31, 2023[51] - Nonperforming loans declined by $21.8 million to $287.7 million since December 31, 2023, with nonperforming loans as a percentage of total portfolio loans at 8.00% compared to 8.83%[171] - The total allowance for credit losses on loans was $80.909 million, an increase from $96.686 million at the beginning of the period[83] Investment and Securities - The total fair value of available-for-sale securities with unrealized losses was $678.4 million as of September 30, 2024, with total unrealized losses of $68.4 million[33] - The company did not record an allowance for credit losses on its investment securities as of September 30, 2024, indicating no related impairment[34] - The fair value of corporate notes is $62.307 million, with $54.720 million classified as Level 2 and $7.587 million as Level 3[102] - The company recorded gross realized gains of $36 thousand and gross realized losses of $1 thousand for the three months ended September 30, 2024, resulting in net realized gains of $36 thousand[30] Noninterest Income and Expenses - Noninterest income for the three months ended September 30, 2024, was $5,422 thousand, slightly up from $5,270 thousand in the same period of 2023, a growth of 2.9%[7] - Total noninterest income increased by $1.0 million to $16.0 million for the nine months ended September 30, 2024, compared to the same period in 2023[170] - Total noninterest expense increased by $4.7 million to $81.1 million for the nine months ended September 30, 2024, compared to the same period in 2023[170] - Salaries and employee benefits rose by $0.6 million, a 4.6% increase, due to fewer open positions and normal merit increases[201] Strategic Initiatives and Market Outlook - The Company aims to shift from restructuring its balance sheet to pursuing a prudent growth strategy, focusing on organic growth and opportunistic acquisitions[161] - The company has identified strategic opportunities for market expansion and new product development to enhance future growth prospects[77] - The Company’s brand strategy includes a commitment to align processes and operations around its brand while introducing new products and services[160]

The addition of Advocate Health Care to the Ambetter of Illinois provider network offers its members expanded access to the health system's high-quality healthcare CHICAGO, Oct. 30, 2024 /PRNewswire/ -- Ambetter of Illinois (Ambetter), a product offered by Centene Corporation (NYSE: CNC), and managed locally by Meridian Health Plan of Illinois, Inc. (Meridian), announced today the addition of Advocate Health Care to its network, which will further increase members' access to quality healthcare in the Chicag ...

Carter Bankshares, Inc. (CARE) reported $34.41 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 5.4%. EPS of $0.23 for the same period compares to $0.20 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $35.5 million, representing a surprise of -3.07%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.23.While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...

Carter Bankshares, Inc. (CARE) came out with quarterly earnings of $0.23 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $0.21 per share when it actually produced earnings of $0.21, delivering no surprise.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Carter Bankshares, which belongs ...

Exhibit 99.1 FOR IMMEDIATE RELEASE – October 24, 2024 Carter Bankshares, Inc. Announces Third Quarter 2024 Financial Results Martinsville, VA, October 24, 2024 – Carter Bankshares, Inc. (the "Company") (NASDAQ:CARE), the holding company of Carter Bank & Trust (the "Bank") today announced quarterly net income of $5.6 million, or $0.24 diluted earnings per share ("EPS"), for the third quarter of 2024 compared to net income of $4.8 million, or $0.21 diluted EPS, for the second quarter of 2024 and net income of ...

Core Viewpoint - Oklahoma Complete Health, a subsidiary of Centene Corporation, announced a $75,000 investment to support the recruitment, training, and retention of foster and adoptive families in Oklahoma [1][2]. Group 1: Investment and Program Details - The funding will enable the Foster Care Association of Oklahoma (FCAO) to expand the Foster Parent Mentoring Program, which has already received $150,000 since its inception in 2021 [2]. - The Foster Parent Mentoring Program has served 200 foster families since its launch, addressing the needs of families who are new to fostering [2][3]. Group 2: Community Impact - Oklahoma Complete Health's CEO, Clay Franklin, emphasized the importance of supporting foster and adoptive families to enrich the lives of children in foster care [2]. - The program aims to provide ongoing support and resources to foster parents during their first year, helping them navigate challenges and build a supportive community [3]. Group 3: Organizational Background - Oklahoma Complete Health focuses on serving underinsured and uninsured individuals through various health insurance solutions, including the federal insurance marketplace plan (Ambetter) and Medicare Advantage Plan (Wellcare) [4].

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- A survey of older adults in the United States reveals wideranging dissatisfaction with health care and related services that don't reflect and respond to how people want to live as they age. Age Wave and The John A. Hartford Foundation released findings of a national survey, "Meeting the Growing Demand for Age-Friendly Care: Health Care at the Crossroads," conducted by The Harris Poll. It underscores that America's 65+ population is skyrocketing, as opportunities go ...

ST. LOUIS, Sept. 4, 2024 /PRNewswire/ -- Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to helping people live healthier lives, announced today that its Iowa-based subsidiary, Iowa Total Care, has been selected by the Iowa Department of Health and Human Services (HHS) to continue providing Medicaid managed care services under the Iowa Health Link program. The Iowa Health Link program administers Iowa Medicaid, the Iowa Health and Wellness Plan and Healthy and Well Kids in Iowa (H ...

Investors in Carter Bankshares, Inc. (CARE) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 20, 2024 $12.5 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It cou ...