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Company Description

Contact Info

75 West 125th Street

New York, NY 10027

United States

Phone: 718-230-2900


Carver Bancorp, Inc. operates as the holding company for Carver Federal Savings Bank that offers consumer and commercial banking services. The company conducts business as a unitary savings and loan holding company. The company serves African-American communities whose residents, businesses, and institutions have access to mainstream financial services. It is headquartered in Harlem, and operates 10 branches and 5 stand-alone 24/7 ATM centers located in low- to moderate-income neighborhoods. The company provides deposit products, including demand, savings and time deposits for consumers, businesses, and governmental and quasi-governmental agencies in its local market area within New York City. In addition to deposit products, the company offers various other consumer and commercial banking products and services, including debit cards, online banking, online bill pay, and telephone banking. The company also offers a suite of products and services for unbanked and underbanked consumers. This includes check cashing, wire transfers, bill payment, reloadable prepaid cards and money orders. The company offers loan products covering various asset classes, including commercial, multi-family and residential mortgages, construction loans and business loans. It finances mortgage and loan products through deposits or borrowings. Market Area The company’s primary lending market includes Kings, New York, Bronx and Queens counties in New York City, and lower Westchester County, New York. Its primary lending market includes Kings, New York, Bronx and Queens counties in New York City, and lower Westchester County, New York. Lending Activities The company’s loan portfolio consists primarily of mortgage loans originated by the Bank's lending teams and secured by commercial real estate, multi-family and one-to-four family residential property and construction loans. Non-residential Real Estate Lending: Non-residential real estate lending consists predominantly of originating loans for the purpose of purchasing or refinancing office, mixed-use (properties used for both commercial and residential purposes but predominantly commercial), retail and church buildings in the bank's market area. Mixed-use loans are secured by properties that are intended for both residential and business use and are classified as commercial real estate. Non-residential real estate lending entails additional risks compared with one to four family residential and multi-family lending. The company offers adjustable rate mortgage loans with interest rate adjustment periods of 1 to 5 years and generally for terms of up to 15 years and amortization schedules up to 30 years Multi-family Real Estate Lending: The company originates and purchases multi-family loans. Multi-family property lending entails additional risks compared to one-to-four family residential lending. Construction Lending: The company originates or participates in construction loans for new construction and renovation of multi-family buildings, residential developments, community service facilities, churches, and affordable housing programs. One-to-four Family Residential Lending: The company originates and purchases first mortgage loans secured by one-to-four family properties that serve as the primary residence of the owner. It has made loans to investors that are secured by non-owner occupied one-to-four family properties. The company offers both fixed-rate and adjustable-rate residential mortgage loans with maturities of up to 30 years. The company offers one-year, three-year, five/one-year and five/three-year adjustable-rate one-to-four family residential mortgage loans. Business Loans: The company provides revolving credit and term loan facilities to small businesses. Business loans are typically personally guaranteed by the owners, and may also be secured by additional collateral, including real estate, equipment, and inventory. Consumer and Other Loans: The company’s consumer loans are unsecured loans, consisting of consumer loans, other than loans secured by savings deposits. Investment Portfolio As of December 31, 2012, the company’s investment port

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