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$1.50+3.4%Stored close · as of Jul 8, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
| $ in thousands except per share data | December 31, 2023 | March 31, 2023 |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents: | ||
| Cash and due from banks | $74,730 | $42,298 |
| Money market investments | 500 | 254 |
| Total cash and cash equivalents | 75,230 | 42,552 |
| Investment securities: | ||
| Available-for-sale, at fair value | 49,106 | 53,843 |
| Held-to-maturity, at amortized cost (fair value of $1,984 and $2,221, respectively) | 2,078 | 2,318 |
| Total investment securities | 51,184 | 56,161 |
| Loans receivable: | ||
| Real estate mortgage loans | 437,574 | 423,349 |
| Commercial business loans | 172,204 | 166,908 |
| Consumer loans | 14,873 | 7,639 |
| Loans, gross | 624,651 | 597,896 |
| Allowance for credit losses | (5,897) | (5,229) |
| Total loans receivable, net | 618,754 | 592,667 |
| Premises and equipment, net | 2,660 | 3,174 |
| Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost | 2,004 | 2,266 |
| Accrued interest receivable | 2,414 | 1,911 |
| Right-of-use assets | 10,468 | 12,311 |
| Other assets | 12,593 | 12,182 |
| Total assets | $775,307 | $723,224 |
| LIABILITIES AND EQUITY | ||
| LIABILITIES | ||
| Deposits: | ||
| Non-interest bearing checking | $106,408 | $109,401 |
| Interest-bearing deposits: | ||
| Interest-bearing checking | 47,290 | 49,473 |
| Savings | 109,614 | 109,210 |
| Money market | 165,953 | 150,348 |
| Certificates of Deposit | 231,676 | 178,694 |
| Escrow | 1,876 | 3,303 |
| Total interest-bearing deposits | 556,409 | 491,028 |
| Total deposits | 662,817 | 600,429 |
| Advances from the FHLB-NY and other borrowed money | 46,551 | 51,090 |
| Operating lease liability | 11,270 | 13,173 |
| Other liabilities | 11,943 | 13,308 |
| Total liabilities | 732,581 | 678,000 |
| Commitments and contingencies (Note 8) | — | — |
| EQUITY | ||
| Preferred stock, (par value $0.01 per share: 10,451 and 13,201 Series D shares, with a liquidation preference of $1,000 per share, issued and outstanding, respectively) | 10,451 | 13,201 |
| Preferred stock (par value $0.01 per share: 3,177 Series E shares, with a liquidation preference of $1,000 per share, issued and outstanding, respectively) | 3,177 | 3,177 |
| Preferred stock (par value $0.01 per share: 9,000 Series F shares, with a liquidation preference of $1,000 per share, issued and outstanding, respectively) | 9,000 | 9,000 |
| Common stock (par value 0.01 per share: 10,000,000 shares authorized; 7,535,339 and 6,799,410 shares issued; 5,031,536 and 4,295,607 shares outstanding, respectively) | 76 | 68 |
| Additional paid-in capital | 86,767 | 82,805 |
| Accumulated deficit | (51,560) | (47,904) |
| Treasury stock, at cost (2,503,803 shares, respectively) | (2,908) | (2,908) |
| Accumulated other comprehensive loss | (12,277) | (12,215) |
| Total equity | 42,726 | 45,224 |
| Total liabilities and equity | $775,307 | $723,224 |
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