Carter Bankshares, Inc. announced the promotion of three Bank Executives. Matt Speare, Rich Spiker and Tony Kallsen have all been promoted to Senior Executive Vice Presidents. The three had previously served as Executive Vice Presidents.

Speare will also assume the role of Chief Operations Officer, a change from his previous role as Chief Information Officer. In his new role, he will continue to oversee the Carter Bank & Trust'sInformation Technology Department, while taking on the additional role of leading the Bank's Loan and Deposit Operations and Fraud Detection. Since joining Carter Bank & Trust, Spiker, who serves as the Bank's Chief Lending Officer, has been instrumental in building out the Commercial Banking Team, across both Virginia and North Carolina, and helping to start the Bank's Treasury Services department, all while overseeing significant growth of the Bank's commercial loan portfolio.

Kallsen, who serves as the Bank's Chief Credit Officer, has worked to build out Credit Risk Management Infrastructure at Carter Bank and Trust since joining the company in 2017. Included in this buildout is a fully operational Credit Department and the streamlining of the Bank's loan underwriting and documentation process. Under Tony's leadership, the Bank has also achieved a significant reduction in criticized assets.

Speare, Spiker and Kallsen all three joined the Bank in 2017.