Details for Carter Bank & Trust

Updated

NOTICE OF APPLICATION FOR PROPOSED MERGER TRANSACTION Notice is hereby given that Carter Bank & Trust, a Virginia non-member bank with its main office located at 4 E. Commonwealth Boulevard, Martinsville, Virginia 24112 (the "Bank"), has made application to the Federal Deposit Insurance Corporation (the "FDIC") and the Virginia Bureau of Financial Institutions for permission to consummate a reorganization transaction (the "Reorganization"), pursuant to which the Bank will become the wholly-owned banking subsidiary of Carter Bankshares, Inc., 1300 Kings Mountain Road, Martinsville, Virginia 24112 (the "Holding Company"). The Reorganization will be effectuated by merging the Bank with CBT Merger Sub, Inc., 1300 Kings Mountain Road, Martinsville, Virginia 24112, a wholly-owned non-bank subsidiary of the Holding Company (the "Merger"), with the Bank surviving the Merger as the wholly-owned banking subsidiary of the Holding Company. Shareholders of the Bank will become shareholders of the Holding Company in the Reorganization. This notice is published pursuant to Section 18(c) of the Federal Deposit Insurance Act (12 U.S.C.§ 1828(c)), and section 303.65 of the regulations of the FDIC (12 C.F.R. § 303.65). Any person wishing to comment on this application may file his or her comments in writing with the Regional Director, Michael J. Dean, of the FDIC at its Atlanta Regional Office at 10 10th Street NE, Suite 800, Atlanta, Georgia 30309-3849, not later than September 28, 2020. The non-confidential portions of the application are on file at the appropriate FDIC office and are available for public inspection during regular business hours. Photocopies of the non-confidential portion of the application file will be made available upon request.

1300 Kings Mountain Road, Martinsville, VA 24112

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