#USA #New York #NASDAQ #Carver Bancorp #OTCQX

Carver Bancorp, Inc. Announces Strategic Shift

Carver Bancorp, Inc., the parent company of Carver Federal Savings Bank, recently announced a significant decision to move its stock listing from the Nasdaq Stock Market to OTCQX, a segment of the Over-the-Counter (OTC) markets. This shift not only reflects a strategic pivot for the company but also aims to streamline its operations and reduce expenses while maintaining transparency and integrity in financial disclosures.

Background on Carver Bancorp

Founded in 1948, Carver Bancorp is based in Harlem, New York and serves a vital role in supporting historically underserved communities. Designated as a Community Development Financial Institution (CDFI) by the U.S. Treasury Department, Carver focuses on providing accessible financial services to individuals and businesses that traditionally face barriers in the banking sector. As one of the largest African- and Caribbean-American-managed banks in the United States, Carver aims to foster economic growth and revitalization in its service areas.

Reasons for the Transition

According to Donald Felix, the President and CEO of Carver Bancorp, the decision to delist from Nasdaq and move to OTCQX is driven by several key factors:

1. Enhanced Flexibility: The move to OTCQX allows Carver to pursue initiatives that support the creation of a strong brand identity and long-term growth strategies. Being part of the OTC markets is seen as a better fit for the bank’s financial profile.

2. Reduced Operating Expenses: By deregistering from the SEC, Carver expects to lower its recurring operational costs significantly. This transition is intended to allow the company to allocate resources more effectively, enhancing its ability to serve its customers.

3. Focus on Community Commitment: Continuing its mission, Carver Bancorp’s transition aligns with its goal of providing focused services to communities that have been historically underbanked, thus improving financial accessibility.

The Process Ahead

The timeline for the transition outlines that Carver will file a Form 25 with the SEC around November 28, 2025, leading to a last trading day on Nasdaq shortly thereafter. Following this, Carver’s common stock is expected to start trading on OTCQX under the symbol 'CARV' beginning approximately December 8, 2025. The company will also file a Form 15, effectively halting its obligation for periodic SEC reporting.

Ongoing Commitment to Shareholders

Despite the regulatory changes, Carver Bancorp assures shareholders of its commitment to transparent reporting. Shareholders will continue to receive detailed annual reports and access to quarterly financial data through the bank’s website. Furthermore, Carver Federal Savings Bank will maintain its filings of quarterly Call Reports with the Office of the Comptroller of the Currency, ensuring ongoing compliance and transparency.

Conclusion

In conclusion, Carver Bancorp, Inc.'s strategic move to deregister from Nasdaq and transition to OTCQX is a pivotal step in its commitment to long-term growth, flexibility, and community focus. By realigning its operational costs and strategic initiatives, Carver is poised to enhance its impact within the communities it serves while ensuring robust financial health and corporate integrity. As the bank undertakes this transition, it will remain dedicated to serving its stakeholders and fostering economic development where it is needed most.