Carver Bancorp

Carver Bancorp, Inc. is a holding company, which engages in the provision of consumer and commercial banking services. Through Carver Federal Savings Bank, it offers deposit products, including demand, savings, time deposits for consumers, businesses, governmental and quasi-governmental agencies. Carver Bancorp was founded in May 1996 and is headquartered in New York, NY.

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Carver Bancorp, Inc. operates as a holding company. Through its subsidiary, it provides consumer and commercial banking services. The company was founded in May 1996 and is headquartered in New York, NY.

Carver Reported $2.1 Million Loss in Second Quarter, up from $1.48 Million Loss in Same Quarter 2023 $25m in Losses Over Last Ten Years 1 Resulting in ~80% Stock Price Drop 2 A $10,000 Investment in 2014 Would be Worth Only Approximately $2,000 today 3 Dream Chasers Urges Institutional and Retail Shareholders to Vote for Change: Vote FOR Mr. Jeffrey "Jeff" Anderson and Mr.

Dream Chasers to Carver Board: Shareholders are Fed Up, Time to Start Winning Again

Confident Highly Successful, Independent Nominees Will Drive Shareholder Value Increase Dream Chasers Letter Reminds Shareholders of -80% 10-yr Stock Price Loss Under Current Directors Urges a "WITHOLD" Vote Against Carver's Non-Performing Directors Sends Proxy Material and Encourages Vote for Change by Selecting Jeffrey "Jeff" Anderson and Jeffrey John Bailey on the BLUE Proxy Card to Give Carver Best Chance to Return to Profitability Carver Lags Bank Index by 45% in the Last Year and 237% Over Last Ten Years; Only One Profitable Fiscal Year in Last Decade NEW YORK , Nov. 11, 2024 /PRNewswire/ -- Dream Chasers Capital Group LLC ("Dream Chasers"), representing shareholders with a 9.7% stake in Carver Bancorp, Inc. (the "Company") (NASDAQ: CARV), today issued an open letter to shareholders in advance of the Company's 2024 Annual Meeting of Stockholders, set for December 12, 2024. The full text of the letter is below: Dear Fellow Carver Shareholders: Dream Chasers believes it is time for Carver Bancorp shareholders to dream big again.

Dream Chasers, Representing 9.7% of Carver Bancorp Shares, Urges Shareholder Support of Two New Board Nominees

Carver is a historic institution founded in 1948 to help underserved communities in New York City build wealth. Carver continues to pay its mission forward, focusing on Minority and Women Business Enterprises and the growing middle-income neighborhoods it serves.

CARVER BANCORP, INC. NAMES DONALD FELIX PRESIDENT AND CEO, EFFECTIVE NOVEMBER 01, 2024

NEW YORK , Aug. 1, 2024 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV), the holding company for Carver Federal Savings Bank, released a letter from its Interim CEO Craig C. MacKay on the Bank's 2024 fiscal year-end performance: Dear Carver Shareholders: We remain optimistic about the Bank's future - Craig C.

Carver Bancorp, Inc. Interim CEO Craig C. MacKay Comments on the Bank's 2024 Fiscal Year-End Performance

NEW YORK , May 28, 2024 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV) ("Carver"), the holding company for Carver Federal Savings Bank (the "Bank"), a certified Community Development Financial Institution and a designated Minority Depository Institution, is proud to announce the closing of a $25 million revolving senior unsecured term loan under the Community Decarbonization Fund with NY Green Bank. "Carver's collaboration with NY Green Bank enables us to leverage critical funds needed to advance clean energy and build electrification projects in communities that have historically faced financial barriers," said Craig C.

Carver Bancorp, Inc. Announces $25 Million Revolving Loan Facility with NY Green Bank to Support Building Decarbonization Projects in New York City

NEW YORK , March 4, 2024 /PRNewswire/ -- Carver Federal Savings Bank ("Carver") announces the strategic appointment of Tony Holmes as First Vice President, Retail Banking & Business Development Officer. In this newly created role, Holmes brings over 20 years of experience from leading financial institutions, including JPMorgan Chase, Bank of America, and ESL Federal Credit Union, enhancing Carver's mission to serve and empower its communities.

Carver Federal Savings Bank Appoints Tony Holmes as First Vice President, Retail Banking & Business Development Officer

NEW YORK , Jan. 31, 2024 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV) ("Carver" or the "Company"), the holding company for Carver Federal Savings Bank (the "Bank"), a certified Community Development Financial Institution ("CDFI") and designated Minority Depository Institution ("MDI"), announced today that its Board of Directors (the "Board") reviewed and thoroughly rejected an offer by Dream Chasers Capital Group ("Dream Chasers") to acquire 35% interest in Carver's common equity.   The Board determined that the adverse publicly disclosed regulatory history of Dream Chasers' leadership posed unacceptable reputational risks to Carver's standing and mission credibility.

Carver Bancorp, Inc. Definitively Rejects Dream Chasers' Offer

Fund reiterate its $3.25 offer-also propose the bank merge with a Minority Broker Dealer NEW YORK , Jan. 25, 2024 /PRNewswire/ -- On January 24, 2024, Dream Chasers met with the Board of Directors of Nasdaq listed Carver Bancorp The fund made the following ask at its meeting with the Board: That the bank and Dream Chases start the immediate drafting of a Share Purchase Agreement for the acquisition of 35% of the common shares of Carver Bancorp stock. Propose a merger between Carver Bancorp and an already identified Wall Street based minority owned broker dealer –a transaction it believes would instantly transform the bank from a 75-year-old depository institution into a more full-service financial service company offering minority communities more wealth building services brokerage account which would give the banks customers the ability to now buy and sell Stocks, Options, Efts , Bonds, and also raise money to finance business start-ups and expansions.

Dream Chasers Capital meets with Carver Bancorp (NASDAQ: CARV) for talks

NEW YORK , Nov. 29, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV), the holding company for Carver Federal Savings Bank, today released a letter from its Interim CEO Craig C. MacKay on the Bank's recent performance: November 29, 2023 Dear Carver Shareholders: Carver Federal Savings Bank's ("Carver" or the "Bank") performance for the six-month period ended September 30, 2023 highlights the continued impact of our long-term investments in people, processes, and technology.

Carver Bancorp, Inc. Interim CEO Craig C. MacKay Comments on the Bank's Recent Performance

NEW YORK , Nov. 20, 2023 /PRNewswire/ -- Dream Chasers Capital, Carver Bancorp's largest minority shareholder, encourage investors to call and email the bank to accept its improved $3.25 per share offer-an over 100% premium to the current stock price.  A public company's stock price and market capital is a reflection of how the markets sees you.

Dream Chasers raises its offer to $3.25 per share for 35% of Nasdaq listed Carver Bancorp symbol: CARV

NEW YORK , Nov. 3, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV) ("Carver"), the holding company for Carver Federal Savings Bank (the "Bank") today released a letter to shareholders from its Interim CEO Craig C. MacKay that provides an update on the Bank's strategic progress and impact on the communities it serves.

Carver Bancorp, Inc. Interim CEO Craig C. MacKay Provides Strategic Update on the Bank's Progress and Impact on the Communities it Serves

NEW YORK , Sept. 22, 2023 /PRNewswire/ -- Carver Federal Savings Bank ("Carver"), a Community Development Financial Institution ("CDFI") and a certified Minority Depository Institution ("MDI"), is helping drive economic empowerment for small businesses in New York City through its innovative microloan program.

New Microloan Program is Driving Economic Empowerment for Small Businesses in Brooklyn, Harlem, and Across New York City

NEW YORK , Aug. 31, 2023 /PRNewswire/ -- On August 14, 2023, Dream Chasers Capital Group, one of Carver Federal Savings Bank's (NASDAQ: CARV) biggest shareholders of record with a 5.5% stake, has made a significant offer to buy 35% of the bank's shares for $3 a share, a premium above the current stock price. Dream Chasers, a New York City based minority-run Investment Fund, made the offer in a letter to Carver's Board of Directors dated August 14, 2023.

Leading Bank in Harlem Faces Hostile Takeover From One of its Biggest Shareholders Dream Chasers Capital

NEW YORK , Aug. 16, 2023 /PRNewswire/ --Carver Federal Savings Bank ("Carver"), a certified Community Development Financial Institution ("CDFI") and designated Minority Depository Institution ("MDI"), is helping entrepreneurs take their businesses to the next level with its new state-of-the-art online cash management tools. "We take great pride in providing our clientele with innovative tools they need to grow and better manage their businesses," said Michael T.

Carver Launches Suite of Cash Management Services to Support Growth of Small and Larger Businesses Across Greater NYC Region

NEW YORK , Aug. 14, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV) ("Carver"), the holding company for Carver Federal Savings Bank (the "Bank") announced today that its board of directors unanimously appointed Craig C. MacKay as interim President & CEO, effective October 1, 2023.

Carver Bancorp, Inc. Names Craig C. MacKay Interim CEO

Carver CEO to helm community development nonprofit with $30 billion in local investments Will begin in role on October 2, 2023 NEW YORK , Aug. 10, 2023 /PRNewswire/ -- The Local Initiatives Support Corporation (LISC) has named Michael T. Pugh, president and CEO of Carver Bancorp [NASDAQ: CARV], as its new chief executive officer.

LISC names Michael T. Pugh as CEO

NEW YORK , Aug. 9, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV) ("Carver"), the holding company for Carver Federal Savings Bank (the "Bank") announced today that Michael T. Pugh will leave his position as President & CEO and director effective September 30, 2023.

Carver Bancorp, Inc. Announces Chief Executive Officer Transition

NEW YORK , Aug. 3, 2023 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV) (the "Carver"), the holding company for Carver Federal Savings Bank (the "Bank"), a certified Community Development Financial Institution ("CDFI") and designated Minority Depository Institution ("MDI"), announced today that it recently entered into a private placement with National Community Investment Fund ("NCIF"), the largest private-sector investor in the U.S. mission-oriented banking industry. Under the terms of the agreement, NCIF acquired 378,788 shares of Carver Bancorp, Inc's common stock for approximately $1.0 million in gross proceeds.

Carver Bancorp, Inc. Successfully Completes $1,000,000 Private Placement with National Community Investment Fund

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The six-week program is designed to help empower, develop, and uplift multicultural business owners, will culminate in pitch competition HARLEM, N.Y., Feb. 28, 2023 /PRNewswire/ -- M&T Bank's Harlem Multicultural Small Business Innovation Lab, a six-week program designed to provide local entrepreneurs with guidance, education, and resources to help them start and grow businesses, is now accepting applications.

M&T Bank Announces Harlem Small Business Innovation Lab in Partnership with Carver Federal Savings Bank

NEW YORK , Oct. 24, 2022 /PRNewswire/ -- The City College of New York (CCNY") and Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), celebrated the launch of the Bank's first campus ATM with a ribbon-cutting ceremony on October 18, 2022. The Carver ATM is located on the first floor of the North Academic Center and has been serving CCNY's students, staff, and faculty since July 2022.

The City College of New York and Carver Federal Savings Bank Celebrate the Minority-Depository Institution's First Campus ATM

NEW YORK , Oct. 17, 2022 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV), the holding company for Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), announced today the appointment of Robin L. Nunn as an independent member of its Board of Directors.

Carver Bancorp, Inc. Appoints Robin L. Nunn to Board of Directors

NEW YORK , March 22, 2022 /PRNewswire/ -- Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), announced today that its President and CEO, Michael T. Pugh, appears on the cover of the March 2022 edition of The CEO Magazine.

Michael Pugh and Carver Federal Savings Bank are the Cover Feature Story for The CEO Magazine's March 2022 Issue

NEW YORK, Nov. 29, 2021 /PRNewswire/ -- Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), announced today that it signed an agreement with Moody's Analytics to begin incorporating the power of its CreditLens solutions to improve customer experience and provide enhancements like the ability to apply for credit through a one-click process typically only found at larger institutions. Carver expects to fully roll out the CreditLens platform to its business clientele in early 2022, including a full suite of enhanced small business loan products.

Carver Federal Savings Bank to Leverage Moody's Analytics CreditLens Solution to Elevate Customer Experience for its Business Clientele

NEW YORK, Oct. 27, 2021 /PRNewswire/ -- Carver Federal Savings Bank ("Carver" or the "Bank"), a certified Minority Depository Institution ("MDI"), and the Touro Graduate School of Business ("Touro GSB") announced today an innovative partnership for Carver employees to participate in a fully-paid scholarship program for all graduate certificate and degree programs at the Touro GSB. Under the terms of the partnership, Touro GSB will provide Carver employees with a discounted tuition rate.

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