Carter Bank sells Justice family businesses’ loans

Carter Bank sells Justice family businesses’ loans

Martinsville-based Carter Bank has sold a portfolio of past-due loans connected to U.S. Sen. Jim Justice and his family businesses and valued at more than $200 million. Sen. Jim Justice. The loans were sold to “an unaffiliated third party,” the bank said in a Thursday filing with the U.S. Securities and Exchange Commission. Carter Bank spokesperson Brooks Taylor declined to name the third party. He said that the bank will release more informati…

Loan sale cuts bank's thorny ties to West Va. lawmaker

Carter Bankshares in Martinsville, Va., sold more than $200 million of loans made to companies controlled by Sen. Jim Justice and his family, closing out a once close relationship that later descended into rancor and litigation.