CARV Carver Bancorp
Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Headquartered in Harlem, NY, Carver was founded in 1948 to serve African-American communities whose residents, businesses, and institutions had limited access to mainstream financial services. The U.S. Treasury Department has designated Carver as a Community Development Financial Institution ('CDFI') because of its community-focused banking services and dedication to its local community's economic viability and revitalization. Carver is one of the largest African- and Caribbean-American managed banks in the United States. The Bank recently expanded its online presence to include consumer checking and savings accounts across nine states, from Massachusetts to Virginia, and Washington, D.C.
Company profile
Ticker
CARV
Exchange
Website
CEO
Michael T. Pugh
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
133904174
CARV stock data
()
News
Carver Bancorp Shares Spike On Volume, Co. Tweets 'Carver just went contactless and secure!'
22 Jul 21
Watching Minority Owned/Focused Stocks; FDIC Tweets 'Our #MinorityDepositoryInstitutions Subcommittee meets today at 1 p.m. ET. Tune in to learn more about the work to preserve and promote these mission-driven banks!'
21 Jul 21
50 Biggest Movers From Friday
19 Jul 21
33 Stocks Moving In Friday's Mid-Day Session
16 Jul 21
22 Stocks Moving in Friday's Pre-Market Session
16 Jul 21
Press releases
Thinking about buying stock in Exela Technologies, Carver Bancorp, New Oriental Education, Tencent Music Entertainment, or Micron?
8 Jul 21
Carver Bancorp and Bank of America Announce Closing of Social Impact Credit Facility with BlackRock
17 Jun 21
Carver Bank and New Rochelle-White Plains Alumni Chapter of Kappa Alpha Psi Fraternity, Inc. Announce Partnership to Support Economic Empowerment in Communities of Color
20 May 21
Carver Federal Savings Bank's Customers Can Now Access Wells Fargo's Nationwide Network of ATMs
17 May 21
Investment data
Securities sold
Number of investors
Calendar
29 Jun 21
29 Jul 21
31 Mar 22
Financial summary
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Financial data from company earnings reports.
| Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 75.59M | 75.59M | 75.59M | 75.59M | 75.59M | 75.59M |
| Cash burn (monthly) | 1.32M | (positive/no burn) | 267.67K | 311.17K | (positive/no burn) | (positive/no burn) |
| Cash used (since last report) | 5.23M | n/a | 1.06M | 1.23M | n/a | n/a |
| Cash remaining | 70.36M | n/a | 74.53M | 74.36M | n/a | n/a |
| Runway (months of cash) | 53.3 | n/a | 278.4 | 239.0 | n/a | n/a |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 24 Feb 21 | Craig C MacKay | Common Stock | Buy | Aquire P | No | No | 9.9 | 79 | 782.1 | 1,100 |
| 24 Feb 21 | Craig C MacKay | Common Stock | Buy | Aquire P | No | No | 9.89 | 21 | 207.69 | 1,021 |
| 1 Dec 20 | Lewis P. Jones III | Common Stock | Sell | Dispose S | No | No | 7.17 | 200 | 1.43K | 500 |
| 30 Nov 20 | Lewis P. Jones III | Common Stock | Sell | Dispose S | No | No | 7.19 | 300 | 2.16K | 700 |
| 29 Oct 20 | Michael T. Pugh | Common Stock | Grant | Aquire A | No | No | 0 | 10,000 | 0 | 30,000 |
| 10 Sep 20 | Isaac Torres | Common Stock | Sell | Dispose S | No | No | 6.41 | 1,100 | 7.05K | 10,900 |
| 19 Nov 19 | Sophia Haliotis | Common Stock | Sell | Dispose S | No | No | 6.56 | 1,214 | 7.96K | 10,786 |
Institutional ownership Q1 2021
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
20.9% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 18 |
| Opened positions | 6 |
| Closed positions | 2 |
| Increased positions | 6 |
| Reduced positions | 1 |
13F shares |
Current |
|---|---|
| Total value | 109.83M |
| Total shares | 725.46K |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| WFC Wells Fargo & Co. | 157.81K | $1.43M |
| BAC Bank Of America | 147.23K | $1.34M |
| Bridgeway Capital Management | 146.5K | $1.33M |
| National Community Investment Fund | 123.2K | $800K |
| Quinn Opportunity Partners | 39.86K | $362K |
| Dimensional Fund Advisors | 25.62K | $233K |
| Two Sigma Advisers | 24.77K | $225K |
| Advisor | 13.42K | $122K |
| Susquehanna Fundamental Investments | 12.5K | $114K |
| Citadel Advisors | 10.18K | $92K |
Financial report summary
?Risks
- Risks Related to Laws and Regulation and Their Enforcement
- Carver is subject to more stringent capital requirements, which may adversely impact the Company's return on equity, or constrain it from paying dividends or repurchasing shares.
- There can be no assurance that our regulator will approve payment of our deferred interest on our outstanding trust preferred securities.
- Carver's results of operations may be adversely affected by loan repurchases from U.S. Government Sponsored entities (“GSE's”).
- Risks Related to the Economic Conditions
- Risks Related to Market Interest Rates
- Changes in interest rates may adversely affect our profitability and financial condition.
- Risks Related to the Bank's Business
- Uncertainty surrounding the elimination of LIBOR and the proposed transition to SOFR may adversely affect our business.
- Risks Related to the Bank's Operations
- Failure to maintain effective systems of internal and disclosure controls could have a material adverse effect on the Company’s results of operation and financial condition.
- Carver may not be able to utilize its income tax benefits.
- Risks associated with cyber-security could negatively affect our earnings.
- System failure or breaches of Carver’s network security could subject it to increased operating costs as well as litigation and other liabilities.
- Risks Related to Future Stock Issuances
- Risks Related to the Competitive Matters
- Risks Related to the Accounting Matters
Content analysis
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| Legalese | ||
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H.S. sophomore Bad
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Financial reports
10-K
2021 FY
Annual report
29 Jun 21
10-Q
2020 Q3
Quarterly report
15 Feb 21
10-Q
2020 Q2
Quarterly report
15 Nov 20
10-Q
2020 Q1
Quarterly report
14 Aug 20
10-K/A
2020 FY
Annual report (amended)
13 Aug 20
10-K/A
2020 FY
Annual report (amended)
10 Aug 20
10-K
2020 FY
Annual report
6 Aug 20
10-Q
2019 Q3
Quarterly report
12 Feb 20
10-Q
2020 Q2
Quarterly report
13 Nov 19
10-Q
2020 Q1
Quarterly report
14 Aug 19
Current reports
8-K
Departure of Directors or Certain Officers
30 Mar 21
8-K
Entry into a Material Definitive Agreement
22 Feb 21
8-K
Entry into a Material Definitive Agreement
1 Feb 21
8-K/A
Unregistered Sales of Equity Securities
21 Oct 20
8-K
Unregistered Sales of Equity Securities
20 Oct 20
8-K
Submission of Matters to a Vote of Security Holders
18 Sep 20
8-K
Regulation FD Disclosure
17 Sep 20
8-K
Entry into a Material Definitive Agreement
6 Aug 20
8-K
Regulation FD Disclosure
30 Jul 20
8-K
Regulation FD Disclosure
30 Jul 20
Registration and prospectus
D
$6M in equity, sold $6M, 1 investor
3 Mar 21
D
$4.4M in equity, sold $4.4M, 1 investor
16 Feb 21
S-8
Registration of securities for employees
19 Nov 20
D
$974.64K in equity, sold $974.64K, 1 investor
29 Oct 20
POS AM
Prospectus update (post-effective amendment)
16 Sep 18
POS AM
Prospectus update (post-effective amendment)
4 Oct 16
POS AM
Prospectus update (post-effective amendment)
29 Jul 15
RW
Registration withdrawal request
25 Aug 14
POS AM
Prospectus update (post-effective amendment)
17 Aug 14
S-1
IPO registration
17 Aug 14
Proxies
DEFA14A
Additional proxy soliciting materials
26 Jul 21
DEF 14A
Definitive proxy
26 Jul 21
DEF 14A
Definitive proxy
20 Aug 20
DEF 14A
Definitive proxy
26 Jul 19
DEF 14A
Definitive proxy
27 Jul 18
DEF 14A
Definitive proxy
28 Jan 18
DEF 14A
Definitive proxy
25 Aug 16
DEF 14A
Definitive proxy
28 Jul 15
DEF 14A
Definitive proxy
28 Jul 14
DEF 14A
Definitive proxy
15 Aug 13
Other
EFFECT
Notice of effectiveness
25 Sep 18
EFFECT
Notice of effectiveness
18 Oct 16
EFFECT
Notice of effectiveness
30 Jul 15
EFFECT
Notice of effectiveness
27 Aug 14
EFFECT
Notice of effectiveness
14 Jul 13
EFFECT
Notice of effectiveness
10 Jul 12
EFFECT
Notice of effectiveness
5 Feb 12
CORRESP
Correspondence with SEC
2 Feb 12
CORRESP
Correspondence with SEC
22 Jan 12
UPLOAD
Letter from SEC
24 Oct 11
Ownership
SC 13G/A
CARVER BANCORP / HEDGEHOG CAPITAL ownership change
8 Jul 21
SC 13G
CARVER BANCORP / HEDGEHOG CAPITAL ownership change
14 Jun 21
4
CARVER BANCORP / Craig C MacKay ownership change
26 Feb 21
SC 13G
CARVER BANCORP / National Community Investment Fund ownership change
12 Feb 21
SC 13G/A
CARVER BANCORP / Quinn Opportunity Partners ownership change
28 Jan 21
4
CARVER BANCORP / Lewis P. Jones III ownership change
1 Dec 20
4
CARVER BANCORP / Sophia Haliotis ownership change
20 Nov 20
4
CARVER BANCORP / Michael T. Pugh ownership change
2 Nov 20
4
CARVER BANCORP / Isaac Torres ownership change
11 Sep 20
SC 13G/A
CARVER BANCORP / Quinn Opportunity Partners ownership change
4 Sep 20
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