Carver Bancorp (NYSE American: CARV) is a bank holding company that operates Carver Federal Savings Bank, a federally chartered savings institution serving New York City. The company makes money primarily through net interest income, collecting interest on real estate mortgage loans, commercial business loans, and consumer loans funded largely by customer deposits. Carver Federal's loan portfolio includes one-to-four family residential mortgages, commercial real estate, and loans to faith-based organizations such as churches. Deposits are the bank's most important source of funds, with the mix spanning non-interest-bearing checking, interest-bearing checking, savings, money market, and certificates of deposit. The bank operates under a Formal Agreement with the Office of the Comptroller of the Currency and carries a full valuation allowance against its deferred tax assets, reflecting ongoing profitability pressure. As of June 24, 2025, Donald Felix serves as President and Chief Executive Officer, and Christina L. Maier serves as First Senior Vice President and Chief Financial Officer. Carver Statutory Trust, formed in 2003, issued $13.0 million in floating rate Capital Securities due September 17, 2033, with all quarterly interest payments made through March 2025; the June 2025 payment was deferred to manage liquidity.

Revenue model

Net interest income from real estate mortgage loans, commercial business loans, and consumer loans, funded primarily by customer deposits including non-interest-bearing checking, interest-bearing checking, savings, money market accounts, and certificates of deposit.

Products and services

Deposit accounts (non-interest-bearing checking, interest-bearing checking, savings, money market, certificates of deposit, escrow); real estate mortgage loans; commercial business loans; consumer loans; faith-based organization loans secured by church real estate.

Customers and end markets

Retail depositors and borrowers in New York City; commercial real estate borrowers; faith-based organizations including churches seeking mortgage financing; small business borrowers.

Value-chain role

Community savings institution and bank holding company; accepts retail and commercial deposits and originates loans secured by real estate and other collateral; relies on Federal Home Loan Bank of New York for additional funding.

Geographic exposure

Operations concentrated in New York City, with the local economy, job growth, and housing costs directly affecting loan demand and deposit behavior (per 10-K filed 2025-06-24).

Source: SEC 10-K, filed 2025-06-24

Industry: Savings Institution, Federally Chartered Peers: Eureka Homestead Bancorp, Inc. Rocket Companies Inc