Carver Bancorp, Inc. operates as the holding company for Carver Federal Savings Bank, a federally chartered savings bank that provides consumer and commercial banking services for consumers, businesses, and governmental and quasi-governmental agencies primarily in New York. It accepts various deposit products, including demand, savings, and time deposits; passbook and statement accounts, and certificates of deposit; and individual retirement accounts. The company also provides lending products, such as one-to-four family residential, multifamily real estate, and commercial real estate; and construction, business and small business administration, and consumer and other loans. In addition, it offers other consumer and commercial banking products and services, including debit card, online account opening and banking, online bill pay, and telephone banking, as well as check cashing, wire transfer, bill payment, reloadable prepaid card, and money order services. The company operates through one administrative office, seven branches, and four ATM locations. Carver Bancorp, Inc. was founded in 1948 and is headquartered in New York, New York.
IPO Year:
Exchange: NASDAQ
Website: carverbank.com
NEW YORK, March 4, 2024 /PRNewswire/ -- Carver Federal Savings Bank ("Carver") announces the strategic appointment of Tony Holmes as First Vice President, Retail Banking & Business Development Officer. In this newly created role, Holmes brings over 20 years of experience from leading financial institutions, including JPMorgan Chase, Bank of America, and ESL Federal Credit Union, enhancing Carver's mission to serve and empower its communities. Marc Winkler, Senior Vice President, and Chief Administrative Officer, said, "Tony's track record in the financial sector and his deep c
NEW YORK, Aug. 14, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (NASDAQ:CARV) ("Carver"), the holding company for Carver Federal Savings Bank (the "Bank") announced today that its board of directors unanimously appointed Craig C. MacKay as interim President & CEO, effective October 1, 2023. His appointment will facilitate a smooth leadership transition until a permanent President & CEO is named after a national search is conducted. Carver previously announced that its current President & CEO, Michael T. Pugh, will depart on September 30, 2023, to become the CEO of the Local Initiatives Support Coalition ("LISC"), a national nonprofit organization.
Carver CEO to helm community development nonprofit with $30 billion in local investmentsWill begin in role on October 2, 2023 NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The Local Initiatives Support Corporation (LISC) has named Michael T. Pugh, president and CEO of Carver Bancorp (NASDAQ:CARV), as its new chief executive officer. Pugh has more than 30 years of experience in banking, with a particular focus on expanding access to capital for underserved families, businesses, and communities. He spent more than a decade at Harlem-based Carver leading the nation's largest publicly traded African American-operated bank, with more than $720 million in assets. As LISC CEO, he will oversee a national
NEW YORK, Oct. 17, 2022 /PRNewswire/ -- Carver Bancorp, Inc. (NASDAQ:CARV), the holding company for Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), announced today the appointment of Robin L. Nunn as an independent member of its Board of Directors. Ms. Nunn is a leading attorney with extensive experience in private practice and the banking industry. She currently serves as a partner at Morgan Lewis & Bockius LLP, where she is co-head of the firm's banking industry practice and has handled high-stakes cases on behalf of banks and oth
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Carver Reported $2.1 Million Loss in Second Quarter, up from $1.48 Million Loss in Same Quarter 2023 $25m in Losses Over Last Ten Years1 Resulting in ~80% Stock Price Drop2 A $10,000 Investment in 2014 Would be Worth Only Approximately $2,000 today3 Dream Chasers Urges Institutional and Retail Shareholders to Vote for Change: Vote FOR Mr. Jeffrey "Jeff" Anderson and Mr. Jeffrey Bailey for the Board of Directors Using the BLUE Proxy Card and Vote WITHHOLD on Carver's Non-Performing Directors Carver's Board Has Failed to Deliver for a Decade NEW YORK, Nov. 20, 2024 /PRNewswire/ -- Dream Chasers Capital Group LLC ("Dream Chasers") today called for urgent action from CEO Donald Felix and the Boa
Confident Highly Successful, Independent Nominees Will Drive Shareholder Value Increase Dream Chasers Letter Reminds Shareholders of -80% 10-yr Stock Price Loss Under Current Directors Urges a "WITHOLD" Vote Against Carver's Non-Performing Directors Sends Proxy Material and Encourages Vote for Change by Selecting Jeffrey "Jeff" Anderson and Jeffrey John Bailey on the BLUE Proxy Card to Give Carver Best Chance to Return to Profitability Carver Lags Bank Index by 45% in the Last Year and 237% Over Last Ten Years; Only One Profitable Fiscal Year in Last Decade NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Dream Chasers Capital Group LLC ("Dream Chasers"), representing shareholders with a 9.7% stake i
NEW YORK, March 4, 2024 /PRNewswire/ -- Carver Federal Savings Bank ("Carver") announces the strategic appointment of Tony Holmes as First Vice President, Retail Banking & Business Development Officer. In this newly created role, Holmes brings over 20 years of experience from leading financial institutions, including JPMorgan Chase, Bank of America, and ESL Federal Credit Union, enhancing Carver's mission to serve and empower its communities. Marc Winkler, Senior Vice President, and Chief Administrative Officer, said, "Tony's track record in the financial sector and his deep c
Fund reiterate its $3.25 offer-also propose the bank merge with a Minority Broker Dealer NEW YORK, Jan. 25, 2024 /PRNewswire/ -- On January 24, 2024, Dream Chasers met with the Board of Directors of Nasdaq listed Carver Bancorp The fund made the following ask at its meeting with the Board: That the bank and Dream Chases start the immediate drafting of a Share Purchase Agreement for the acquisition of 35% of the common shares of Carver Bancorp stock.Propose a merger between Carver Bancorp and an already identified Wall Street based minority owned broker dealer –a transaction it believes would instantly transform the bank from a 75-year-old depository institution into a more full-service fina
NEW YORK, Nov. 29, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (NASDAQ:CARV), the holding company for Carver Federal Savings Bank, today released a letter from its Interim CEO Craig C. MacKay on the Bank's recent performance: November 29, 2023 Dear Carver Shareholders: Carver Federal Savings Bank's ("Carver" or the "Bank") performance for the six-month period ended September 30, 2023 highlights the continued impact of our long-term investments in people, processes, and technology. Carver's improving scale, efficiency, and resilience define our pathway to sustainable profitability. Fueled by organic loan growth and greater liquidity, Carver's asset base incr
NEW YORK, Nov. 20, 2023 /PRNewswire/ -- Dream Chasers Capital, Carver Bancorp's largest minority shareholder, encourage investors to call and email the bank to accept its improved $3.25 per share offer-an over 100% premium to the current stock price. A public company's stock price and market capital is a reflection of how the markets sees you. It's what they think you are worth. It's an indictment of management. Carver Bancorp, the largest African American bank in the U.S, has a stock price of $1.47 share and a market capitalization of $7 million. Much like your favorite professional sports team, coaches and general managers are hired and fired based on their ability to deliver results. V
NEW YORK, Aug. 31, 2023 /PRNewswire/ -- On August 14, 2023, Dream Chasers Capital Group, one of Carver Federal Savings Bank's (NASDAQ:CARV) biggest shareholders of record with a 5.5% stake, has made a significant offer to buy 35% of the bank's shares for $3 a share, a premium above the current stock price. Dream Chasers, a New York City based minority-run Investment Fund, made the offer in a letter to Carver's Board of Directors dated August 14, 2023. Dream Chasers has been in active talks with the bank for months about acquiring a significant interest. By making this offer, the Investment Fund hopes to take control of the bank and replace the current management and board with an already ass
NEW YORK, Aug. 31, 2023 /PRNewswire/ -- On August 14, 2023, Dream Chasers Capital Group, one of Carver Federal Savings Bank's (NASDAQ:CARV) biggest shareholders of record with a 5.5% stake, has made a significant offer to buy 35% of the bank's shares for $3 a share, a premium above the current stock price. Dream Chasers, a New York City based minority-run Investment Fund, made the offer in a letter to Carver's Board of Directors dated August 14, 2023. Dream Chasers has been in active talks with the bank for months about acquiring a significant interest. By making this offer, the Investment Fund hopes to take control of the bank and replace the current management and board with an already ass
NEW YORK, Aug. 14, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (NASDAQ:CARV) ("Carver"), the holding company for Carver Federal Savings Bank (the "Bank") announced today that its board of directors unanimously appointed Craig C. MacKay as interim President & CEO, effective October 1, 2023. His appointment will facilitate a smooth leadership transition until a permanent President & CEO is named after a national search is conducted. Carver previously announced that its current President & CEO, Michael T. Pugh, will depart on September 30, 2023, to become the CEO of the Local Initiatives Support Coalition ("LISC"), a national nonprofit organization.
Carver CEO to helm community development nonprofit with $30 billion in local investmentsWill begin in role on October 2, 2023 NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The Local Initiatives Support Corporation (LISC) has named Michael T. Pugh, president and CEO of Carver Bancorp (NASDAQ:CARV), as its new chief executive officer. Pugh has more than 30 years of experience in banking, with a particular focus on expanding access to capital for underserved families, businesses, and communities. He spent more than a decade at Harlem-based Carver leading the nation's largest publicly traded African American-operated bank, with more than $720 million in assets. As LISC CEO, he will oversee a national
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Gainers Root (NASDAQ:ROOT) shares increased by 26.1% to $10.93 during Thursday's pre-market session. The company's market cap stands at $159.5 million. The company's, Q4 earnings came out yesterday. Remitly Global (NASDAQ:RELY) shares increased by 24.36% to $22.0. The market value of their outstanding shares is at $4.0 billion. As per the press release, Q4 earnings came out yesterday. Lion Group Holding (NASDAQ:LGHL) shares increased by 19.65% to $1.4. The company's market cap stands at $5.2 million. B. Riley Financial (NASDAQ:RILY) shares increased by 15.13% to $17.5. The market value of their outstanding shares is at $535.2 million. B. Riley Financial, Inc. - 5.25% Senior Notes due 20
Dream Chasers Capital, Carver Bancorp's largest minority shareholder, encourage investors to call and email the bank to accept its improved $3.25 per share offer-an over 100% premium to the current stock price. A public company's stock price and market capital is a reflection of how the markets sees you. It's what they think you are worth. It's an indictment of management. Carver Bancorp, the largest African American bank in the U.S, has a stock price of $1.47 share and a market capitalization of $7 million.Much like your favorite professional sports team, coaches and general managers are hired and fired based on their ability to deliver results. Very rarely do non-performing coaches and gen
Tuesday saw 132 companies set new 52-week lows. Facts of Interest About Today's 52-Week Lows: Corning (NYSE:GLW) was the largest, in terms of market cap, to set a new 52-week low. Wheeler Real Estate IT (NASDAQ:WHLR) was the smallest company when considering market cap to set a new 52-week low. Fortress Biotech (NASDAQ:FBIO) saw the largest move of the companies, as shares plummetted 1350.03% to hit a new 52-week low. Insulet (NASDAQ:PODD)'s stock made the biggest bounce back, actually moving up 0.0% shortly after hitting a new 52-week low. Here are all the stocks that set new 52-week lows on Tuesday: Corning (NYSE:GLW) shares were up 0.2% for the day, having made a 52-week lo
On Thursday, 369 companies hit new 52-week lows. Noteworthy Points From Today's 52-Week Lows: The largest company in terms of market cap to set a new 52-week low was Coca-Cola (NYSE:KO). The smallest company by market cap to hit a new 52-week low was Neptune Wellness Solns (NASDAQ:NEPT). Aethlon Medical (NASDAQ:AEMD)'s stock fell the most, as it traded down 838.3% to reach a new 52-week low. American Tower (NYSE:AMT)'s stock showed potential to rebound, rebounding up 0.0% after reaching a new 52-week low. The following stocks achieved new 52-week lows on Thursday: Bank of America (NYSE:BAC) shares hit a yearly low of $25.56. The stock was down 0.73% on the session. Bristol-My
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Carver Bancorp, Inc. (NASDAQ:CARV) ("Carver"), the holding company for Carver Federal Savings Bank (the "Bank") announced today that its board of directors unanimously appointed Craig C. MacKay as interim President & CEO, effective October 1, 2023. His appointment will facilitate a smooth leadership transition until a permanent President & CEO is named after a national search is conducted. Carver previously announced that its current President & CEO, Michael T. Pugh, will depart on September 30, 2023, to become the CEO of the Local Initiatives Support Coalition ("LISC"), a national nonprofit organization. Craig is a seasoned and accomplished executive in the financial services industry --