Place the pinto beans into a large container and cover with several inches of cool water; let stand 4 hours. Drain and rinse.
Place the bacon in a large stock pot and cook and stir over medium-high heat until evenly browned, about 10 minutes. Add the onion, jalapeno peppers, and carrots; cook and stir until the carrots are soft. Pour in the chicken stock and bring to a boil. Stir in the drained beans, tomato sauce, garlic powder, cilantro, salt, and pepper; simmer until the beans are tender, 3 to 4 hours.