Carter Bankshares in Martinsville, Va., has created a dedicated team to focus on Small Business Administration lending.
The $4.7 billion-asset company said in a press release that it launched the initiative in the third quarter. “The team will provide relationship-based banking and personalized service to help eligible small business owners identify financing solutions that support their business objectives,” the release said.
The company also created a dividend reinvestment and stock purchase plan (DRIP) during the quarter. Carter will sell up to 1 million shares of its common stock to existing shareholders by letting them reinvest cash dividends and optional cash purchases.
Shareholders may enroll in the DRIP at any time.