What is Carter Bankshares, Inc.'s Shariah compliance score?

Carter Bankshares, Inc.'s (CARE) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Carter Bankshares, Inc. pass AAOIFI screening?

Carter Bankshares, Inc. (CARE) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (CARE: 24.9%), (3) interest-bearing deposits below 30% (CARE: 18.3%), and (4) prohibited income below 5% (CARE: 1137.5%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Carter Bankshares, Inc. stock?

Carter Bankshares, Inc. (CARE) has a non-permissible income ratio of 1137.55%. Muslim investors should purify this percentage of any dividends received and capital gains realized from CARE shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Carter Bankshares, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Carter Bankshares, Inc. (CARE) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about CARE's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

CARE: Is Carter Bankshares, Inc. Halal?

Carter Bankshares, Inc.

NASDAQFinancial ServicesUS

$31.58

-2.29%

Market Cap: 701.8M

Compliance Status

Not Halal

Screened on Jul 16, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Carter Bankshares, Inc. (CARE) halal? Not Halal. Based on AAOIFI screening, Carter Bankshares, Inc. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Close to the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

24.9% of 30.0% limit

What this means for you

Most scholars advise not holding CARE

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Carter Bankshares, Inc.

Carter Bankshares, Inc. functions as the parent company for Carter Bank & Trust, delivering a comprehensive suite of banking solutions. It provides a variety of deposit accounts, including checking, savings, retirement, money market, and longer-term certificates of deposit. The institution also offers diverse loan products, such as secured and unsecured commercial loans, alongside consumer loans for purposes like auto financing, home improvements, education, overdraft protection, and personal investments. Additionally, it originates and holds residential mortgages (both fixed and variable rate), real estate construction and acquisition loans, home equity lines of credit, and credit cards. Beyond lending and deposits, Carter Bank & Trust furnishes other banking conveniences including safe deposit boxes, direct deposit services, extensive online and mobile banking capabilities (featuring bill pay, online account opening, and mobile deposit), debit cards, e-statements, and ATM access. The company further provides title insurance, various financial institution-related products, and treasury and corporate cash management services. Founded in 1974 and based in Martinsville, Virginia, Carter Bankshares, Inc. operates 69 branch locations spanning Virginia and North Carolina.

Sector: Financial Services · Industry: Banks - Regional

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 16, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited industry: Banks - Regional

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: FY 2025Data source: EDGAR

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

$368.41

+0.17%

SLVA+

iShares Silver Trust

$50.78

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

ABA+

AllianceBernstein Holding L.P.

$36.03

-1.13%

More Financial Services Stocks

JPM

JPMorgan Chase & Co.

Visa Inc.

Mastercard Incorporated

A+

PYPL

PayPal Holdings, Inc.

C+

BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is Carter Bankshares, Inc. (CARE) halal to invest in?

Carter Bankshares, Inc. (CARE) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Carter Bankshares, Inc. get a F compliance rating?

Carter Bankshares, Inc. (CARE) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 24.9% (limit 30%); interest-bearing deposits of 18.3% (limit 30%); prohibited income of 1137.55% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Carter Bankshares, Inc.'s Shariah verdict?

Carter Bankshares, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Carter Bankshares, Inc. re-screened for Shariah compliance?

Carter Bankshares, Inc. (CARE) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 16, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.