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Carter Bank & Trust to sell Hot Springs branch

Martinsville, Va.-based Carter Bank & Trust is selling its Hot Springs branch to Highlands Community Bank of Covington, Va.

Carter President Phyllis Karavatakis said the branch "performs well in deposits and lobby traffic," but is outside the bank's traditional service area.

The sale, still subject to regulatory approvals, is expected to close in the second quarter of 2018.

As of Sept. 30, Carter had $4.19 billion in assets. Highlands Community had $132.4 million in assets as of Dec. 31, 2015, SNL data shows.