Carver Bancorp subsidiary enters OCC formal agreement over strategic planning and earnings performance

CARVER BANCORP INC

Carver Federal Savings Bank entered a formal written agreement with the OCC on May 14, 2025, citing unsafe or unsound practices related to strategic planning and earnings performance.
The agreement requires the bank to establish a Compliance Committee, submit a three-year strategic plan by September 30, 2025, and implement an earnings improvement program.
The bank is classified as in 'troubled condition' under 12 C.F.R. § 5.51(c)(7)(ii), restricting certain activities without OCC approval.
CEO Donald Felix and the board committed to achieving sustainable earnings through a new strategic plan under new leadership.

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