Debit Card Interchange Fees was Carter Bankshares’s largest product and service line in fiscal 2020, bringing in $5.86M of $17.99M (33%).
| Product and Service | FY 2019 | FY 2020 |
|---|---|---|
| Debit Card Interchange Fees | $5.16M | $5.86M |
| Commercial Loan Swap Fee Income | — | $4.05M |
| Service Charges On Deposit Accounts | $3.92M | $3.52M |
| Other Fees & Other Income | $1.79M | $2.50M |
| Annual Commission On Investment | $1.11M | $1.37M |
| Other Real Estate Owned Income | $689.00K | $340.00K |
| Special Production Payout | — | $289.00K |
| Customer Commissions | $120.00K | $73.00K |
| Total | $12.78M | $17.99M |
Carter Bankshares brought in $17.99M from its eight product and service lines in fiscal 2020, the year ended December 31, 2020. Carter Bankshares regrouped these lines after fiscal 2019, so the total does not compare directly with that year's $12.78M. Debit Card Interchange Fees was the largest at $5.86M (32.6%), ahead of Commercial Loan Swap Fee Income at $4.05M (22.5%) and Service Charges On Deposit Accounts at $3.52M (19.6%). The other five lines brought in $4.57M combined.
Compared with fiscal 2019, Other Fees & Other Income grew fastest, up 39.6% to $2.50M, while Service Charges On Deposit Accounts fell the most, down 10.2% to $3.52M.
Carter Bankshares began breaking out Commercial Loan Swap Fee Income in fiscal 2020 and Special Production Payout in fiscal 2020.
At A Point In Time was Carter Bankshares’s largest revenue line in fiscal 2020, bringing in $5.86M of $7.51M (78%).
| Timing of Transfer of Good or Service | FY 2019 | FY 2020 |
|---|---|---|
| At A Point In Time | $5.16M | $5.86M |
| Over Time | $1.11M | $1.66M |
| Total | $6.27M | $7.51M |
Carter Bankshares brought in $7.51M from its two revenue lines in fiscal 2020, the year ended December 31, 2020. That is less than the $17.99M it reports by product and service, so these revenue lines do not cover all of its revenue. At A Point In Time was the largest at $5.86M (78.0%), ahead of Over Time at $1.66M (22.0%).
Compared with fiscal 2019, Over Time grew 49.8% to $1.66M and At A Point In Time grew 13.5% to $5.86M.
Carter Bankshares (CARE) reports its revenue by product and service and by timing of transfer of good or service. In fiscal 2020, Debit Card Interchange Fees was its largest product and service line, bringing in $5.86M (32.6% of the total), followed by Commercial Loan Swap Fee Income at $4.05M (22.5%).
Debit Card Interchange Fees was Carter Bankshares' largest product and service line in fiscal 2020, bringing in $5.86M, or 32.6% of the $17.99M total across its eight product and service lines.
At A Point In Time was Carter Bankshares' largest revenue line in fiscal 2020, bringing in $5.86M, or 78.0% of the $7.51M total across its two revenue lines.
Over Time grew faster than At A Point In Time in fiscal 2020, up 49.8% from $1.11M to $1.66M. At A Point In Time grew 13.5% to $5.86M.
Every figure comes from Carter Bankshares' annual financial filings, as reported. Each line keeps the name Carter Bankshares gives it, and years follow its fiscal calendar.
Carter Bankshares' revenue by product and service goes back to fiscal 2019, with figures through fiscal 2020. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.