CARVER BANCORP INC
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 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
| Six Months Ended September 30, | ||
|---|---|---|
| $ in thousands | 2024 | 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(4,325) | $(3,007) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Provision for credit losses | 721 | 174 |
| Stock based compensation expense | 27 | 219 |
| Depreciation and amortization expense | 439 | 523 |
| Loss on sale of loans, net | 191 | — |
| Amortization and accretion of loan premiums and discounts and deferred charges, net | 209 | 126 |
| Amortization and accretion of premiums and discounts — securities | 97 | 186 |
| Increase in accrued interest receivable | (1,192) | (167) |
| Increase in other assets | (739) | (5,892) |
| (Decrease) increase in other liabilities | (804) | 823 |
| Net cash used in operating activities | (5,376) | (7,015) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Proceeds from principal payments, maturities and calls of investments: Available-for-sale | 1,683 | 2,917 |
| Proceeds from principal payments, maturities and calls of investments: Held-to-maturity | 143 | 153 |
| Loans held-for investment, net of (originations) and repayments/payoffs and maturities | 5,690 | 13,890 |
| Loans purchased from third parties | (2,468) | (26,956) |
| Proceeds from loans sold | 143 | — |
| Redemption of FHLB-NY stock, net | 339 | 262 |
| Purchase of premises and equipment | (260) | (165) |
| Net cash provided by (used in) investing activities | 5,270 | (9,899) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Net increase in deposits | 3,812 | 30,024 |
| Repayment of short-term borrowings | — | (10,000) |
| Proceeds from long-term borrowings | 1,814 | 5,527 |
| Repayment of long-term borrowings | (10,000) | — |
| Issuance of common stock | — | 1,000 |
| Net cash (used in) provided by financing activities | (4,374) | 26,551 |
| Net (decrease) increase in cash and cash equivalents | (4,480) | 9,637 |
| Cash and cash equivalents at beginning of period | 59,025 | 42,552 |
| Cash and cash equivalents at end of period | $54,545 | $52,189 |
| Supplemental cash flow information: | ||
| Noncash financing and investing activities | ||
| Conversion of preferred stock to common stock | $— | $2,200 |
| Cash paid for: | ||
| Interest | $7,502 | $1,475 |
| Tax on capital | 127 | 132 |
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