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  (CARV)
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    Sector  Financial    Industry S&Ls Savings Banks
   Industry S&Ls Savings Banks
   Sector  Financial
 
Price: $1.5800 $-0.05 -3.067%
Day's High: $1.8299 Week Perf: -6.51 %
Day's Low: $ 1.58 30 Day Perf: -11.24 %
Volume (M): 34 52 Wk High: $ 5.36
Volume (M$): $ 53 52 Wk Avg: $2.58
Open: $1.64 52 Wk Low: $1.15



 Market Capitalization (Millions $) -
 Shares Outstanding (Millions) -
 Employees 129
 Revenues (TTM) (Millions $) 28
 Net Income (TTM) (Millions $) 0
 Cash Flow (TTM) (Millions $) 31
 Capital Exp. (TTM) (Millions $) 0


Carver Bancorp, Inc., a Delaware corporation, is the holding company for Carver Federal Savings Bank, a federally chartered savings bank. The Company is headquartered in New York, New York. The Company conducts business as a unitary savings and loan holding company, and the principal business of the Company consists of the operation of its wholly-owned subsidiary, Carver Federal. Carver Federal was founded in 1948 to serve African-American communities whose residents, businesses and institutions had limited access to mainstream financial services. The Bank remains headquartered in Harlem, and predominantly all of its ten branches and four stand-alone 24/7 ATM centers are located in low- to moderate-income neighborhoods. Many of these historically underserved communities have experienced unprecedented growth and diversification of incomes, ethnicity and economic opportunity, after decades of public and private investment.

Carver Federal is the largest African-American operated bank in the United States. The Bank remains dedicated to expanding wealth enhancing opportunities in the communities it serves by increasing access to capital and other financial services for consumers, businesses and non-profit organizations, including faith-based institutions. A measure of its progress in achieving this goal includes the Banks third consecutive "Outstanding" rating, issued by the OCC following its most recent Community Reinvestment Act (“CRA”) examination in December 2012. As of December 2012, approximately 78% of newly originated loans were within Carvers assessment area, and the Bank has demonstrated excellent responsiveness to its assessment areas needs through its community development lending, investing and service activities.

Carver Federal engages in a wide range of consumer and commercial banking services. Carver Federal provides deposit products, including demand, savings and time deposits for consumers, businesses, and governmental and quasi-governmental agencies in its local market area within New York City. In addition to deposit products, Carver Federal offers a number of other consumer and commercial banking products and services, including debit cards, online banking, online bill pay and telephone banking. Carver Federal also offers a suite of products and services for unbanked and underbanked consumers, branded as Carver Community Cash. This includes check cashing, wire transfers, bill payment, reloadable prepaid cards and money orders.

Carver Federal offers loan products covering a variety of asset classes, including commercial, multifamily and residential mortgages, construction loans and business loans. The Bank finances mortgage and loan products through deposits or borrowings. Funds not used to originate mortgages and loans are invested primarily in U.S. government agency securities and mortgage-backed securities.

The Banks primary market area for deposits consists of the areas served by its ten branches in the Brooklyn, Manhattan and Queens boroughs of New York City. The neighborhoods in which the Banks branches are located have historically been low- to moderate-income areas. The Banks primary lending market includes Kings, New York, Bronx and Queens Counties in New York City, and lower Westchester County, New York. Although the Banks branches are primarily located in areas that were historically underserved by other financial institutions, the Bank faces significant competition for deposits and mortgage lending in its market areas. Management believes that this competition has become more intense as a result of increased examination emphasis by federal banking regulators on financial institutions fulfillment of their responsibilities under the CRA and more recently due to the decline in demand for loans. Carver Federals market area has a high density of financial institutions, many of which have greater financial resources, name recognition and market presence, and all of which are competitors to varying degrees. The Banks competition for loans comes principally from commercial banks, savings institutions and mortgage banking companies. The Banks most direct competition for deposits comes from commercial banks, savings institutions and credit unions. Competition for deposits also comes from money market mutual funds, corporate and government securities funds, and financial intermediaries such as brokerage firms and insurance companies. Many of the Banks competitors have substantially greater resources and offer a wider array of financial services and products. This, combined with competitors larger presence in the New York market, add to the challenges the Bank faces in expanding its current market share and growing its near-term profitability.

Carver Federals more than 65 year history in its market area, its community involvement and relationships, targeted products and services and personal service consistent with community banking, help the Bank compete with competitors that have entered its market.

The Bank formalized its many community focused investments on August 18, 2005, by forming Carver Community Development Corporation ("CCDC"). CCDC oversees the Banks participation in local economic development and other community-based initiatives, including financial literacy activities. CCDC coordinates the Banks development of an innovative approach to reach the unbanked customer market in Carver Federals communities. Importantly, CCDC spearheads the Banks applications for grants and other resources to help fund these important community activities. In this connection, Carver Federal has successfully competed with large regional and global financial institutions in a number of competitions for government grants and other awards.The NMTC award is used to stimulate economic development in low- to moderate-income communities. The NMTC awards enable the Bank to invest with community and development partners in economic development projects with attractive terms including, in some cases, below market interest rates, which may have the effect of attracting capital to underserved communities and facilitating revitalization of the community, pursuant to the goals of the NMTC program. NMTC awards provide a credit to Carver Federal against Federal income taxes when the Bank makes qualified investments. The credits are allocated over seven years from the time of the qualified investment. Alternatively, the Bank can utilize the award in projects where another investor entity provides funding and receives the tax benefits of the award in exchange for the Bank receiving fee income.

Carver Federals loan portfolio consists primarily of mortgage loans originated by the Banks lending teams and secured by commercial real estate, multifamily and one-to-four family residential property and construction loans. Substantially all of the Banks mortgage loans are secured by properties located within the Banks market area. From time to time, the Bank may purchase loans that comply with the Banks underwriting standards from other financial institutions or in contiguous market geographies to achieve loan growth objectives.

In recent years, Carver Federal has focused on the origination of commercial real estate loans and multifamily residential loans. These loans generally have higher yields and shorter maturities than one-to-four family residential properties, and include prepayment penalties that the Bank collects if the loans pay in full prior to the contractual maturity. The Banks increased emphasis on portfolio management and monitoring of the commercial real estate and multifamily residential mortgage loans was required given the increase of the overall level of credit risk inherent in this market segment. Due to the overall improvement in the loan portfolio, the Bank has been able to recover provision for loan losses in years 2013 to 2015. However, the greater risk associated with commercial real estate and multifamily residential loans may require the Bank to increase its provisions for loan losses and could require the Bank to maintain an allowance for loan losses as a percentage of total loans in excess of the allowance currently maintained. Carver Federal continually reviews the composition of its mortgage loan portfolio and underwriting standards to manage the risk in the portfolio.



   


Customers Net Income fell by CARV's Customers Net Profit Margin fell to

-4.24 %

11.09 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BCBP   -6.72%    
BRKL   -5.66%    
FSFG   -0.18%    
WSBF   -4.21%    
BHLB   -2.05%    
CASH   -6.1%    
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First Guaranty Bancshares Inc

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First Guaranty Bancshares Inc, a leading financial institution based in Hammond, Louisiana, has recently announced its financial results for the fiscal period closing December 31, 2023. The company reported a significant decrease in income, profit, and revenue compared to the previous financial reporting period. This sharp decline has also had a negative impact on the company's stock performance, with First Guaranty Bancshares Inc stock dropping by -28.03% from a year ago.
The company's income fell by -84.94% to $0.06 per share from $0.39 a year ago, and profit plummeted by -41.53% from $0.10 per share from the prior financial reporting period. Revenue receded widely by -14.578% to $21.39 million from $25.04 million in the same financial reporting period a year ago. Sequentially, revenue decreased by -4.097% from $22.31 million. The bottom-line also saw a significant decrease, with a profit of $1.303 million in the fiscal period closing December 31, 2023, falling by -74.56% from $5.122 million in the corresponding period a year before.

Hmn Financial Inc

SandLs Savings Banks Revenue Soft in Q4 Earnings Season

The latest financial report from HMNF (Hmn Financial Inc) has raised concerns among investors, as the company reported a significant decrease in both top and bottom-line figures for the fiscal year ending December 31, 2023. Income per share plummeted by -41.15% and revenue decreased by -14.157% year on year. These numbers are alarming, especially when compared to the previous fiscal period where income per share was $0.34 and revenue was $9.67 million.
In the fiscal fourth quarter of 2023, HMNF reported net profits of $1.452 million, which fell by -40.44% from the corresponding period a year before. The company's operating margin also decreased to 20.3% and net margin shrank to 15.76%. Operating earnings dropped by -43.98% to $1.87 million, squeezing the operating margin from 31.11% in the fourth quarter of 2022. Additionally, the accounts receivable declined to $845.7 million, although it was higher than during the same time a year ago.

Territorial Bancorp Inc

Territorial Bancorp Inc. Faces Steep Decline in Revenue and Profits for Financial Interval Ending December 31, 2023

The recent financial results of Territorial Bancorp Inc. paint a grim picture of its performance for the financial interval closing on December 31, 2023. The company witnessed a significant decline in revenue by -31.371%, leading to a steep deterioration in profits by -90.04%. The company reported a revenue of $9.87 million compared to $14.39 million the previous year, and earnings per share dropped to $0.04 from $0.39 in the previous year.
In contrast to the third quarter, where revenue decreased by -9.272% and profit plummeted by -61.04%, the October to December period of 2023 saw a further decline. Earnings fell by -90.3% to $0.334 million compared to $3.445 million in the corresponding period the previous year. Operating margin also shrunk to 4% and net margin dropped to 3.38%. Operating earnings fell -91.28% to $0.395 million, significantly squeezing the company's operating margin compared to the previous year.

Sterling Bancorp Inc

Strong Earnings Masking Potential Risks: A Closer Look at Sterling Bancorp Inc's Financial Results

Sterling Bancorp Inc's Positive Financial Results Mask Potential Concerns
Sterling Bancorp Inc, the holding company of Sterling Bank and Trust, F.S.B., recently reported its financial results for the October to December 31, 2023, period. While on the surface, the company seems to be performing well, a deeper analysis raises concerns about its future prospects.
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Codorus Valley Bancorp Inc

Navigating Revenue Challenges: Codorus Valley Bancorp Inc's Fourth Quarter Financial Performance

Codorus Valley Bancorp, Inc., the parent company of PeoplesBank, has reported its financial results for the October to December 31, 2023 financial interval. Despite a decline in revenue, the company experienced growth in earnings per share (EPS) and net earnings. This article aims to interpret the key financial results and shed light on the company's performance in the given period.
1. Revenue Decline and EPS Growth:
During the October to December 2023 financial interval, Codorus Valley Bancorp, Inc.'s SandLs Savings Banks company witnessed a decrease in revenue by -0.702% to $24.17 million compared to the previous year. However, the company managed to raise its EPS by 0.15% to $0.55 per share. This indicates a strong bottom-line growth, albeit moderate.






 

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