CARVER BANCORP INC — fact timeline

Craig C. MacKay departed as Interim President and Chief Executive Officer at CARVER BANCORP INC.

“Craig C. MacKay, who serves as Interim President and Chief Executive Officer of the Company and Bank, will resign as Interim President and Chief Executive Officer effective October 31, 2024, and Mr. MacKay will continue to serve as a member of the Board.”

Donald Felix was appointed as President and Chief Executive Officer at CARVER BANCORP INC.

“On September 16, 2024, Carver Bancorp, Inc. (the “Company”) announced the hiring of Donald Felix, age 50, as President and Chief Executive Officer of the Company and Carver Federal Savings Bank (the “Bank”), effective November 1, 2024.”

Craig C. MacKay was appointed as Interim President and Chief Executive Officer at CARVER BANCORP INC.

“As previously announced, Carver Bancorp, Inc. (the “Company”) and Carver Federal Savings Bank (the “Bank”) appointed Craig C. MacKay (the “Executive”) as the Company’s and Bank’s Interim President and Chief Executive Officer, effective October 1, 2023.”

CARVER BANCORP INC shareholders approved Advisory (non-binding) approval of the compensation of our Named Executive Officers as described in the proxy statement at the 2023-09-14 meeting.

“Proposal 3. Advisory (non-binding) approval of the compensation of our Named Executive Officers as described in the proxy statement.”

CARVER BANCORP INC shareholders approved Ratification of BDO USA, LLP as independent auditors for fiscal year ending March 31, 2024 at the 2023-09-14 meeting.

“Proposal 2. To ratify the appointment of BDO USA, LLP as independent auditors for Carver Bancorp, Inc. for the fiscal year ending March 31, 2024.”

CARVER BANCORP INC shareholders approved Election of directors for a three-year term at the 2023-09-14 meeting.

“Proposal 1. The election as directors of the nominees listed below each to serve for a three-year term.”

Craig C. MacKay was appointed as Interim President and Chief Executive Officer at CARVER BANCORP INC.

“On August 11, 2023, the Boards of Directors of Carver Bancorp, Inc. (the “Company”) and Carver Federal Savings Bank (the “Bank”) each unanimously appointed Craig C. MacKay as Interim President and Chief Executive Officer, effective October 1, 2023.”

Michael T. Pugh departed as President and Chief Executive Officer at CARVER BANCORP INC.

“The Company previously announced that its current President and Chief Executive Officer, Michael T. Pugh, will depart on September 30, 2023, to become the Chief Executive Officer of the Local Initiatives Support Coalition, a national nonprofit organization.”

Michael T. Pugh departed as Chief Executive Officer and President at CARVER BANCORP INC.

“On August 6, 2023, Michael T. Pugh advised Carver Bancorp, Inc. (the “Company”) and Carver Federal Savings Bank (the “Bank”) that he: (1) was resigning as a director of both the Company and the Bank, effective September 30, 2023; and (2) was resigning his positions as Chief Executive Officer and President of the Company and the Bank, effective September 30, 2023.”

CARVER BANCORP INC entered into Investment Agreement with National Community Investment Fund valued at approximately $1.0 million (effective 2023-07-19).

“On July 19, 2023, Carver Bancorp, Inc. (the “Company”) entered into an Investment Agreement (the “Investment Agreement”) with National Community Investment Fund (“NCIF”), pursuant to which the Company sold 378,788 shares of the Company’s common stock, par value $0.01 per share, at a purchase price of $2.64 per share (the “Common Stock”) in a private placement (the “Private Placement”) for gross proceeds of approximately $1.0 million.”

CARVER BANCORP INC terminated Formal Agreement with Office of Comptroller of the Currency (OCC) valued at Termination of Formal Agreement (effective 2023-01-18).

“On January 18, 2023, the Office of Comptroller of the Currency (“OCC”) notified Carver Federal Savings Bank (the “Bank”), the wholly-owned subsidiary of Carver Bancorp, Inc. (the “Company”), that the Formal Agreement between the Bank and the OCC dated May 24, 2016 (the “Agreement”) was terminated, effective immediately.”

Robin L. Nunn was appointed as Director at CARVER BANCORP INC.

“On October 5, 2022, the Board of Directors of Carver Bancorp, Inc. (the “Company”), following receipt of supervisory non-objection by the Board of Governors of the Federal Reserve, appointed Robin L. Nunn to the Board of Directors of the Company.”

Robin L. Nunn was appointed as Director at CARVER BANCORP INC.

“On September 8, 2022, the Board of Directors of Carver Federal Savings Bank (the “Bank”), the wholly-owned subsidiary of Carver Bancorp, Inc. (the “Company”), following receipt of supervisory non-objection by the Office of the Comptroller of the Currency, appointed Robin L. Nunn to the Board of Directors of the Bank.”

Steven C. Bussey resigned as member of the Boards of Directors at CARVER BANCORP INC.

“Steven C. Bussey, a member of the Boards of Directors of Carver Bancorp, Inc. (“Company”) and Carver Federal Savings Bank (“Bank”), announced his resignation from his positions with the Company and the Bank, effective as of the close of business on May 31, 2022.”

Janet L. Rollé resigned as Director at CARVER BANCORP INC.

“Janet L. Rollé, a member of the Boards of Directors of Carver Bancorp, Inc. (“Company”) and Carver Federal Savings Bank (“Bank”), announced her resignation from her positions with the Company and the Bank, effective December 17, 2021.”

Richard Muskus resigned as Senior Vice President and Chief Revenue Officer at CARVER BANCORP INC.

“On December 9, 2021, Richard Muskus notified Carver Bancorp, Inc. (the "Company") of his resignation as Senior Vice President and Chief Revenue Officer to pursue another opportunity.”

Sophia Haliotis resigned as Senior Vice President and Chief Credit Officer at CARVER BANCORP INC.

“On October 12, 2021, Sophia Haliotis notified Carver Bancorp, Inc. of her resignation as Senior Vice President and Chief Credit Officer.”