Highest-materiality recent filing
Carver Bancorp voluntarily delists from Nasdaq, moves to OTCQX, deregisters with SEC
Plans to file Form 25 on Nov 28, 2025; delisting effective Dec 5, 2025.
Carver Bancorp announces board modernization with 75% director turnover over 3 years
75% of directors to transition within 12 quarters, subject to regulatory approvals.
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.
Carver Bancorp shareholders reject executive compensation; approve equity plan and directors
Advisory say-on-pay vote failed: 1,171,467 for, 1,648,492 against, 526,366 abstain.
Carver Bancorp names Donald Felix President and CEO effective November 1, 2024
Donald Felix previously Executive Vice President at Citizens Financial; earlier roles at JPMorgan Chase and Citi over 25 years.
Carver Bancorp reduces FY2024 net loss 32% to $3M; achieves H2 breakeven
Net loss of $3.0M for FY2024, down 32% YoY; breakeven achieved in second half of fiscal year.
Carver Bancorp rejects Dream Chasers' offer to acquire 35% of common equity
Board rejected Dream Chasers' proposal citing adverse regulatory history of its leadership, deficient structure, and unrealistically low price.
Carver Bancorp interim CEO highlights strong capital, growth in shareholder letter
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%.
Carver Bancorp appoints Craig C. MacKay as Interim President & CEO effective Oct 1, 2023
Appoints director Craig C. MacKay as Interim President & CEO, effective Oct 1, 2023.
Carver Bancorp CEO Michael Pugh to step down Sept 30; national search begins
CEO and President Michael T. Pugh resigns effective September 30, 2023; also leaves board.
OCC terminated the Formal Agreement dated May 24, 2016, effective January 18, 2023.
Carver Bancorp enters $20M ATM stock offering agreement with Piper Sandler
Sales agreement for up to $20M of common stock via at-the-market offerings on NASDAQ.
Carver Bancorp raises $4M via private placement of Series F preferred stock to J.P. Morgan
Sold 4,000 shares of Series F non-cumulative, non-voting, non-convertible participating preferred stock at $1,000/share for $4.0M gross proceeds.
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, 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.
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.
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.
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.
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.
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.
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, 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, 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.
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.
On October 12, 2021, Sophia Haliotis notified Carver Bancorp, Inc. of her resignation as Senior Vice President and Chief Credit Officer.
Max materiality 0.90 · Median 0.55 · Most common event other_material