Carver Bancorp, Inc. reported a net loss of $2.4 million for the three months ended September 30, 2025, compared to a loss of $2.1 million in the same period last year. For the six months ended September 30, 2025, the company recorded a net loss of $3.6 million, an improvement from a loss of $4.3 million in the prior year. The decrease in losses was attributed to a rise in non-interest income and recoveries of credit losses, which partially offset a decline in net interest income and an increase in non-interest expenses. Total interest income fell to $8.6 million for the quarter, down from $9.8 million a year earlier, while interest expense decreased to $3.4 million from $3.8 million.

As of September 30, 2025, Carver Bancorp's total assets stood at $697.9 million, a decrease of 4.4% from $730.0 million at March 31, 2025. This decline was primarily driven by a $9.6 million reduction in cash and cash equivalents and a $20.5 million decrease in the net loan portfolio, which fell to $586.8 million. The company experienced a decrease in total deposits of $36.2 million, largely due to a significant drop in certificates of deposit. Advances from the Federal Home Loan Bank of New York (FHLB-NY) increased by $7.3 million, reflecting a strategic move to bolster liquidity amid declining deposit levels.

Operationally, Carver Bancorp's loan portfolio saw a decrease in gross loans of 3.4%, attributed to $40.5 million in payoffs and attrition, which were partially offset by $19.2 million in new loan originations. The allowance for credit losses (ACL) was reported at $6.1 million, representing 1.03% of total loans. The company’s nonaccrual loans totaled $26.7 million, or 3.82% of total assets, an increase from $24.6 million at the end of the previous fiscal year. The ACL to nonaccrual loans ratio stood at 22.97%, down from 25.77% in March 2025.

Looking ahead, Carver Bancorp is navigating a challenging economic environment characterized by high inflation and interest rates, which have impacted customer demand. The company is closely monitoring its asset quality and liquidity while working to meet regulatory capital requirements. As of September 30, 2025, the bank's Tier 1 leverage ratio was 8.70%, below the required 9%, and the total risk-based capital ratio was 11.44%, also below the 12% minimum. Management is focused on strategies to enhance capital levels and improve financial performance in the coming quarters.

About CARVER BANCORP INC

Carver Bancorp, Inc. is a holding company for Carver Federal Savings Bank, a federally chartered savings bank serving primarily low- to moderate-income, historically underserved communities in New York City. The bank offers consumer and commercial banking services, including deposit products, loans (commercial, multifamily, residential, business), and financial services for unbanked customers. Its community-focused model emphasizes access to capital, personalized service, and local economic development.

This description was generated via AI from an annual report. Updated 9 months ago.

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