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By the end of this month the Office of Thrift Supervision wants Carver, a minority-owned bank that serves underbanked communities in New York City, to increase capital ratios by at least $20 million. Analysts, however, believe Carver may need as much as $35 million to properly repair itself.
April 7 -
Carver Bancorp Inc. in New York said Monday that one of its units has received $25 million in tax credits to spur investments in low-income communities.
February 28 -
Carver Bancorp Inc. in New York is trying to raise its capital levels after receiving a cease-and-desist order from its regulator.
February 10 - WIB PH
Carver Bancorp's Deborah Wright likes to go out for lunch, because, she says, it's the best way to keep in touch with people.
October 1
Struggling Carver Bancorp Inc. is going on the offensive in its effort to fix its balance sheet and return to profitability.
While many companies in its position often look to trim overhead, the New York thrift announced Thursday that is adding the newly created position of president and chief operating officer, to its management ranks. The firm has hired the executive search firm Heidrick & Struggles to help identify a candidate, who would report to Chairman and Chief Executive Officer Deborah Wright.
In a news release Thursday, Wright said that while market conditions are challenging, "we believe now is the appropriate time to add managerial talent…to allow us to most effectively complete the restructuring of our balance sheet and strengthen our operations, while returning to the important task of growing our franchise."
Carver, a community development bank headquartered in Harlem, has been hit hard by losses on soured real estate loans. In the nine months that ended Dec. 31, the company lost more than $34 million, compared to a profit of $1.2 million in the same nine-month period in 2009.
Also on Thursday the company announced that Marc A. Ricca, currently he chief risk officer, has been promoted to chief financial officer, replacing Chris A. McFadden, who is stepping down on June 11.
