secwatch.observer — SEC 8-K summary
======================================

Issuer:     CARVER BANCORP INC (CARV)
CIK:        0001016178
Form:       8-K/A
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0000943374-24-000084
Event type: earnings
Sentiment:  neutral
Materiality: 0.50
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Carver Bancorp reports breakeven net income in Dec 2023 quarter, up $1.1M YoY; asset base grows to $775M
--------------------------------------------------------------------------------

- Breakeven net income improved $1.1M vs prior year quarter; recognized $1.4M in ERP grant income.
- Interest income up 19.6% YoY for nine-month period; interest expense up 144% due to Fed rate hikes.
- Asset base grew 4.4% to $775.3M; Net Interest Margin maintained at 3.0%.
- Lending highlights: $8.9M commercial mortgage, $3.2M multi-family, $4.0M consumer/specialty, $2.0M leveraged loans.
- Since early 2023, over $30M in institutional deposits from new partners including Key Bank, Micron, TIAA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1016178/000094337424000084/0000943374-24-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1016178/000094337424000084/form8k.htm
  HTML page:      https://secwatch.observer/filing/0000943374-24-000084

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer