CARV
Carver Bancorp, Inc.1.2400
+0.0400+3.33%
Dec 16, 3:51:38 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
6.56MP/E (TTM)
-Basic EPS (TTM)
-2.49Dividend Yield
0%Recent Filings
8-K
10-Q
10-Q
Q1 FY2026 results
Carver Bancorp narrowed its Q1 FY2026 net loss to $1.2 million from $2.2 million a year earlier, thanks to a $0.6 million jump in non-interest income from higher depository fees and Empowering Change program revenue, while net interest income edged up 1.8% to $5.6 million on better loan yields. A $26 thousand credit loss recovery (versus a $260 thousand provision last year) aided the swing, but nonaccrual loans held steady at $24.5 million, or 4.0% of total loans. Deposits dipped 2.5% to $645.5 million amid brokered CD renewals, yet cash stayed ample at $43.8 million with $24.6 million more FHLB borrowing capacity. The Formal Agreement with the OCC, mandating approvals for director changes and dividends under reserve standards, adds oversight. Non-GAAP metrics not disclosed in the 10-Q. Elevated nonaccrual levels signal persistent credit pressures.
10-K
FY2025 results
Carver Bancorp wrapped FY2025 with a $13.7 million net loss, widening from $3.0 million last year, as net interest income dipped 15% to $19.2 million amid a 31% surge in interest expense to $15.1 million from higher deposit costs in a persistent high-rate environment. Total loans shrank 1.5% to $613.7 million, with originations at $39.1 million and purchases at $15.4 million offset by $63.3 million in payoffs, while nonaccrual loans ballooned to $24.6 million (4.0% of loans) from $11.8 million, prompting a $1.2 million credit loss provision versus $83 thousand prior. Non-interest income plunged 54% to $3.1 million without last year's $2.4 million grants, and expenses rose 8% to $34.8 million on staffing and legal costs. Liquidity held with $50.3 million in cash, but the May 2025 OCC Formal Agreement demands a three-year strategic plan to boost earnings and capital, where Tier 1 leverage sits at 8.7% below the 9% target. Yet nonaccrual spikes signal trouble. Q4 faltered hard.
8-K
OCC formal agreement signed
Carver Bancorp's subsidiary, Carver Federal Savings Bank, entered a Formal Agreement with the OCC on May 14, 2025, addressing unsafe practices in strategic planning and earnings. The bank must form a Compliance Committee—already underway—and submit a three-year Strategic Plan and Earnings Program by September 30, 2025, to boost earnings, growth, capital, and liquidity under new CEO leadership. No financial penalties disclosed. The board commits to swift implementation.
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