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
Subsidiaries
CSFB Credit Corp. • CSFB Realty Corp. • Carver Asset Corp. • Carver Community Development Corporation • Sub CDE 1, LLC • Sub CDE 22, LLC • Sub CDE 23, LLC • Sub CDE 24, LLC • Sub CDE 25, LLC • Alhambra Holdings Corp. ...
IRS number
133904174
CARV stock data
Investment data
Securities sold
Number of investors
Calendar
15 Aug 22
16 Aug 22
31 Mar 23
Financial summary
| Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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| Annual (USD) | Mar 22 | Mar 21 | Mar 20 | Mar 19 | |
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| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 43.38M | 43.38M | 43.38M | 43.38M | 43.38M | 43.38M |
| Cash burn (monthly) | 5.88M | 2.95M | 285.67K | (no burn) | 4.92M | 278K |
| Cash used (since last report) | 9.24M | 4.63M | 448.77K | n/a | 7.73M | 436.72K |
| Cash remaining | 34.15M | 38.75M | 42.93M | n/a | 35.65M | 42.94M |
| Runway (months of cash) | 5.8 | 13.2 | 150.3 | n/a | 7.2 | 154.5 |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 26 Apr 22 | Christina L Maier | Common Stock | Grant | Acquire A | No | No | 0 | 3,000 | 0 | 7,000 |
| 26 Apr 22 | Isaac Torres | Common Stock | Grant | Acquire A | No | No | 0 | 3,000 | 0 | 11,358 |
| 26 Apr 22 | Michael T. Pugh | Common Stock | Grant | Acquire A | No | No | 0 | 10,000 | 0 | 36,964 |
| 26 Apr 22 | Pazel G Jackson JR | Common Stock | Grant | Acquire A | No | No | 0 | 5,000 | 0 | 6,326 |
| 26 Aug 21 | Sophia Haliotis | Common Stock | Sell | Dispose S | No | No | 17.5 | 2,428 | 42.49K | 8,358 |
Institutional ownership, Q1 2022
19.5% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 18 |
| Opened positions | 3 |
| Closed positions | 6 |
| Increased positions | 3 |
| Reduced positions | 3 |
| 13F shares | Current |
|---|---|
| Total value | 16.42M |
| Total shares | 840.32K |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| WFC Wells Fargo & Co. | 157.81K | $1.11M |
| BAC Bank Of America | 147.23K | $1.03M |
| National Community Investment Fund | 123.2K | $800K |
| Renaissance Technologies | 80.8K | $566K |
| Geode Capital Management | 64.4K | $450K |
| Vanguard | 49.4K | $346K |
| Dimensional Fund Advisors | 43.07K | $302K |
| Two Sigma Advisers | 38.5K | $270K |
| MS Morgan Stanley | 35.23K | $247K |
| Maltese Capital Management | 35K | $246K |
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.
- 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
- We may be limited in our ability to access sufficient funding through a public or private equity offering or convertible debt offering.
- A future issuance of stock could dilute the value of our common stock.
- Risks Related to the Competitive Matters
Content analysis
?| Positive | ||
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| Legalese | ||
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H.S. sophomore Avg
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Removed:
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Current reports
8-K
Departure of Directors or Certain Officers
31 May 22
8-K
Departure of Directors or Certain Officers
20 Dec 21
8-K
Entry into a Material Definitive Agreement
14 Dec 21
8-K
Departure of Directors or Certain Officers
10 Dec 21
8-K
Departure of Directors or Certain Officers
18 Oct 21
8-K
Entry into a Material Definitive Agreement
30 Sep 21
8-K
Other Events
23 Sep 21
8-K
Submission of Matters to a Vote of Security Holders
22 Sep 21
8-K
Departure of Directors or Certain Officers
30 Mar 21
8-K
Entry into a Material Definitive Agreement
22 Feb 21
Registration and prospectus
424B5
Prospectus supplement for primary offering
14 Dec 21
S-3/A
Shelf registration (amended)
22 Nov 21
S-3
Shelf registration
15 Sep 21
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
Other
EFFECT
Notice of effectiveness
3 Dec 21
CORRESP
Correspondence with SEC
29 Nov 21
UPLOAD
Letter from SEC
23 Sep 21
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
Ownership
4
CARVER BANCORP / PAZEL G JACKSON JR ownership change
13 May 22
4
CARVER BANCORP / Michael T. Pugh ownership change
6 May 22
4
CARVER BANCORP / Christina L Maier ownership change
29 Apr 22
4
CARVER BANCORP / Isaac Torres ownership change
29 Apr 22
4
CARVER BANCORP / Christina L Maier ownership change
23 Nov 21
4
CARVER BANCORP / Sophia Haliotis ownership change
26 Aug 21
4
CARVER BANCORP / Michael T. Pugh ownership change
25 Aug 21
4
CARVER BANCORP / Isaac Torres ownership change
25 Aug 21
SC 13G
CARVER BANCORP / EJF Capital ownership change
19 Aug 21
SC 13G/A
CARVER BANCORP / HEDGEHOG CAPITAL ownership change
8 Jul 21
Reddit threads
Daily Discussion Thread - August 16th, 2022
16 Aug 22
Daily Discussion Thread - August 15th, 2022
15 Aug 22
6k to 486k in 2 years...it can be done
19 Jul 22
Daily Discussion Thread - July 4th, 2022
4 Jul 22
Daily Plays July 02, 2022
2 Jul 22
Daily Discussion Thread - July 1st, 2022
1 Jul 22
Daily Discussion Thread - June 27th, 2022
27 Jun 22
Daily Discussion Thread - June 24th, 2022
24 Jun 22
Daily Discussion Thread - June 20th, 2022
20 Jun 22
Daily Discussion Thread - June 17th, 2022
17 Jun 22