- Carver Bancorp
Infobox Company
company_name = Carver Bancorp, Inc
company_type = Public (nasdaq|CNY)
foundation = 1949
location =New York ,United States
key_people = Deborah C. Wright (President andCEO )
Frank J. Deaton (Senior VP of Operations)
industry =Financial
products =Savings ,Loans
revenue = US$24.1m (2006)
net income = US$3.7m (2006) [http://finance.yahoo.com/q/ks?s=CNY]
num_employees = 126 (2006)
homepage = http://www.carverbank.com//"Carver Bancorp, Inc." is the
holding company of Carver Federal Savings Bank. It is a public company, and notable for being the first and only black-managed bank on NASDAQ and one of only 11 black-managed publicly traded companies, making it the largest black-owned financial institution in theUnited States [cite news
last = Fairley
first = Juliette
coauthors =
title = A new lease on banking - Carver Federal Savings Bank
language = English
publisher = Black Enterprise
date = June 1996
url = http://www.findarticles.com/p/articles/mi_m1365/is_n11_v26/ai_18319780
accessdate = 2006-08-18] .History
Formed on January 5, 1949, and named for agricultural researcher and scientist,
George Washington Carver Fact|date=January 2008, Carver Federal Savings and Loan Association formally began operations at 53 West 125th Street with one employee.Fact|date=January 2008In February 1961, Carver Federal opened its first branch office in the
Bedford-Stuyvesant section ofBrooklyn, New York . Up until the 1990s, it added 7 offices, expanding its operations to Queens and Roosevelt, Long Island. In 1986, Carver Federal became a federal savings bank and changed its name to Carver Federal Savings Bank.In 1994, following an
IPO , Carver became the first and only black bank on NASDAQ and one of only 11 black publicly traded companies. in 1995, Richard Greene, an octogenarian who led Carver for 25 years, was replaced as director, president and CEO by 52-year-old Thomas Clark, Jr.In August 2001, Carver opened a branch on Malcolm X Boulevard,
Harlem , New York.Business and branch network
The
bank takes deposits, which it principally lends in the form of mortgage loans for purchase or refinance of residential, and commercial properties, and for construction or renovation of commercial property and residential housing developments.As of
March 3, 2005 , the bank operates eight branch offices and four stand-alone ATM centers in and around the predominantly "black" areas of New York. The company is headquartered inNew York City ,New York .Fact|date=January 2008References
[http://www.minoritybank.com/carver2.html A Shaky Pillar in Harlem: Black-Owned Carver Bank Is Resistant to Profitability and Change.] From the New York Times, Sunday, July 11, 1999. Page C-1. Story by Leslie Eaton. Synopsis by Creative Investment Research.
External links
* [http://www.carverbank.com Official website]
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