Carver Bancorp interim CEO highlights strong capital, growth in shareholder letter

CARVER BANCORP INC

Bank emerged from regulatory formal agreement in Jan 2023; now 'well capitalized' with Tier 1 capital 12.4%, Leverage 10.1%, Total RBC 13.4%.
Assets over $720M as of June 30, 2023, organic growth 28% since 2019; net interest margin YTD FY2024 at 3.14%.
Loan growth 8.7% 4-year CAGR, deposit growth 5.8% 4-year CAGR, net charge-offs only 0.09% annually.
Since 2019, raised over $40M in net capital and invested over $3M in technology upgrades.
Fintech partnerships expanded deposit footprint to 9 states; supported over 16,000 small business loans nationwide.

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