CARVER BANCORP INC
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 14, 2024
CARV$1.78+7.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Nine Months Ended December 31, | ||
|---|---|---|
| $ in thousands | 2023 | 2022 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(2,988) | $(2,901) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Provision for credit losses | 77 | 89 |
| Stock based compensation expense | 220 | 20 |
| Depreciation and amortization expense | 744 | 783 |
| Gain on sale of loans, net | — | (107) |
| Amortization and accretion of loan premiums and discounts and deferred charges, net | 155 | (78) |
| Amortization and accretion of premiums and discounts — securities | 249 | 328 |
| Increase in accrued interest receivable | (503) | (99) |
| (Increase) decrease in other assets | (237) | 2,360 |
| Decrease in other liabilities | (1,431) | (9,242) |
| Net cash used in operating activities | (3,714) | (8,847) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Proceeds from principal payments, maturities and calls of investments: Available-for-sale | 4,430 | 6,756 |
| Proceeds from principal payments, maturities and calls of investments: Held-to-maturity | 236 | 2,841 |
| Purchase of bank-owned life insurance | — | (5,000) |
| Increase in equity investments | (603) | — |
| Loans held-for investment, net of repayments/payoffs and (originations) | 2,855 | (1,963) |
| Loans purchased from third parties | (29,467) | (11,199) |
| Proceeds from participation loans sold | — | 5,129 |
| Redemption (purchase) of FHLB-NY stock, net | 262 | (782) |
| Purchase of premises and equipment | (236) | (168) |
| Net cash used in investing activities | (22,523) | (4,386) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Net increase (decrease) in deposits | 62,388 | (18,870) |
| Proceeds from short-term borrowings | — | 15,000 |
| Repayment of short-term borrowings | (10,000) | — |
| Proceeds from long-term borrowings | 5,527 | — |
| Repayment of long-term borrowings | — | (3) |
| Issuance of common stock | 1,000 | — |
| Net cash provided by (used in) financing activities | 58,915 | (3,873) |
| Net increase (decrease) in cash and cash equivalents | 32,678 | (17,106) |
| Cash and cash equivalents at beginning of period | 42,552 | 61,018 |
| Cash and cash equivalents at end of period | $75,230 | $43,912 |
| Supplemental cash flow information: | ||
| Noncash financing and investing activities | ||
| Recognition of right-of-use asset | $— | $1,103 |
| Recognition of operating lease liability | — | 1,103 |
| Recognition of finance lease asset | — | 58 |
| Recognition of finance lease liability | — | 58 |
| Conversion of preferred stock to common stock | $2,750 | $550 |
| Cash paid for: | ||
| Interest | $7,158 | $3,175 |
| Tax on capital | 417 | 162 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.