Carver Bancorp

#10273

Rank

$8.46M

Marketcap

United States

Country

Leadership team

Mr. Michael T. Pugh (Pres & Director)

Mr. Isaac Torres (Sr. VP, Gen. Counsel & Corp. Sec.)

Ms. Christina L. Maier (First Sr. VP & CFO)

Products/ Services

Banking, Finance, Financial Services, Venture Capital, Wealth Management

Number of Employees

100 - 500

Headquarters

New York, New York, United States

Established

1948

Company Registration

SEC CIK number: 0001016178

Revenue

20M - 100M

Traded as

CARV

Social Media

URL

https://www.carverbank.com

Overview

Location

Recognition and Award

References

Summary

Carver Bancorp, Inc. operates as the holding company for Carver Federal Savings Bank that provides consumer and commercial banking services for consumers, businesses, non-profit organizations, 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 lending; 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 cards, 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 ATMs. Carver Bancorp, Inc. was founded in 1948 and is headquartered in New York, New York.

History

Carver applied for a federal charter "after the state had denied it a charter," and opened "in a simple storefront." Carver Federal Savings Bank was not the first bank named after George Washington Carver. Four years earlier another unrelated bank, Carver Savings and Loan Association, opened in Omaha, Nebraska. Neither of these were the first Black-owned American bank. This bank, however, is the largest and oldest continually Black-operated USA bank.

Weston already had earlier experience as 1945-founder of a credit union, and, for Carver, had a supporting team of 14.Carver served multiple purposes:

"to help black homeowners obtain first mortgages"

Blacks trained at Carver went on to work at other banks

along with Carver co-founder Josph E. Davis, it hired future leaders, such as Richard T. Greene Sr, "who for 30 years was the president and a director."

Mission

The mission of Carver Bancorp, Inc. and its subsidiaries is to provide our customers and other stakeholders with the best quality financial products, services and advice by our knowledgeable, innovative, dedicated and service-oriented employees.

Vision

To be the premier financial services institution in the communities we serve, making our customers and other stakeholders more successful.

Key Team

Mr. Jeffrey John Bailey (Chief Exec. Officer)

Jimmy Montes (1st VP, Sr. Counsel and Corp. Sec.)

Recognition and Awards

Carver Federal Savings Bank has been recognized for excellence for financial performance, community service, and outreach to underserved communities. Carver was the first African-American owned and managed financial institution to receive a distinguished safety and soundness rating from the Department of Financial Services.