Carter Bankshares(CARE) - 2024 Q1 - Quarterly Results

Exhibit 99.1 • Net interest income increased $1.0 million, or 3.6%, to $28.4 million compared to the fourth quarter of 2023 primarily due to a 24 basis point increase in the yield on earning assets, partially offset by a 15 basis point increase in funding costs and decreased $12.4 million, or 30.3% compared to the first quarter of 2023, primarily due to a 155 basis point increase in funding costs and a 12 basis point decrease in the yield on earning assets; • The allowance for credit losses to total portfol ...