About Us

Carter Bank & Trust

About Us Photo 1


Headquartered in Martinsville, Virginia, Carter Bank & Trust is a state-chartered community bank in Virginia with $4.1 billion in assets as of December 31, 2017. We operate more than 100 branches in Virginia and North Carolina with 1,000 employees.

We offer a full-range of deposit accounts, including our signature product, “Lifetime Free Checking.” All deposit accounts are insured by the FDIC up to the maximum amount allowed by law, which currently is $250,000. We also provide competitive business and personal loan products and services that are straight-forward and transparent.

Our mission statement: At Carter Bank & Trust, we strive to be the preferred lifetime financial partner for our customers and shareholders, and the employer of choice in the communities we are privileged to serve.

Our Story

The second largest community bank in Virginia, we got our start in Rocky Mount, Va., 43 years ago to the day of December 13, 2017.

On December 13, 1974, our first branch with eight employees officially opened on the corner of Franklin and College streets in Rocky Mount. In 1974, this branch was called, First National Bank of Rocky Mount; and it wasn’t until December 2006 when 10 banks consisting of 123 branches in Virginia and North Carolina merged to form what it is now called, Carter Bank & Trust, after our founder, Worth Harris Carter, Jr.

Mr. Carter passed away on April 7, 2017, at the age of 79. He was our chairman upon his passing.

At ceremonial ribbon cutting celebrating renovations of our branch in Rocky Mount, one of our original board members, Sid Mason of Rocky Mount, recalled telling Carter in 1974 that December 13 was on a Friday. “Worth, we can’t open a bank on Friday, the thirteenth,” he said.

Mr. Mason said that Mr. Carter responded, “Watch me.”


Mr. Carter

In 2018, we resized our branch network, renovated facilities and launched in a system conversion to offer new products and services, like online and mobile banking. We continue to stay true to Mr. Carter’s legacy of change with the sole purpose of improving the customer experience by reinventing our bank over and over again.

After 43 years, Mr. Mason retired from our board on December 31, 2017.

From 1973 to 1998, Worth Harris Carter, Jr. organized and opened 10 new Virginia-based community banks: First National Bank of Rocky Mount in 1974; Patrick Henry National Bank, Bassett, in 1976; Peoples Bank of Danville in 1976; Blue Ridge Bank, Floyd, in 1978; South Boston Bank in October 1985; Central National Bank, Lynchburg, in 1996; Mountain National Bank, Galax, in 1996; Patriot Bank NA, Stafford, in 1996; Shenandoah National Bank, Staunton, in 1996; and First National Exchange Bank, Roanoke, in 1998.

These banks merged on December 29, 2006, to create Carter Bank & Trust, based in Martinsville.

Mr. Carter was chairman of the board and CEO of Carter Bank & Trust. His first bank opened on December 13, 1974, with one office, eight employees and $1.2 million in capital and total assets. At the time of his death, Carter Bank & Trust consisted of 123 offices in Virginia and North Carolina with approximately 975 employees, capital in excess of $434 million and total assets of approximately $4.5 billion.

Always believing in the importance of education, Mr. Carter served on the boards of Martinsville City Schools for 21 years (11 years as chairman), Averett University for eight years, Ferrum College for eight years, Mary Baldwin College for eight years and the University of Richmond, four years.

Among many others, Mr. Carter received these recognitions: the Alumni Distinguished Service Award from the University of Richmond in 2002; the 2004 Heck Ford Award from the Martinsville/Henry County Chamber of Commerce honoring lifetime achievement of leadership, commitment and dedication to promoting economic growth in Martinsville and Henry County; a national award as the 2010 Technology Innovator of the Year from “Bank Technology News” as the result of developing a core software platform for bank use; and an Honorary Doctor of Business Degree from Liberty University in 2012.