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Overview / Commentary
718-230-2900
75 West 125th Street at Lenox Avenue
New York, NY 10027

Founded on November 5, 1948, and named for agricultural researcher and scientist George Washington Carver, Carver formally began operations on 125th Street in Harlem, providing local residents a place to save and obtain mortgages to buy homes in their own communities on January 5, 1949. Now the largest African-American and Caribbean-American led bank in the United States, Carver continues its mission, providing banking services and by investing in its most precious resource, its customers. Carver channels its capital resources into underserved neighborhoods, investing over 80% of its deposits into the neighborhoods it serves.

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Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
C

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Carver Federal Savings Bank had $24.02 million in non-current loans and owned real-estate with $69.17 million in equity and loan loss allowances on hand to cover it. This gives Carver Federal Savings Bank a Texas Ratio of 34.72% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Carver Federal Savings Bank decreased dramatically from 72.62% as of December 31, 2012 to 34.72% as of December 31, 2013, resulting in a positive change of 52.18%.This indicates that the balance sheet and financial strength for Carver Federal Savings Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Carver Federal Savings Bank has decreased its total deposits by -$18.63 million, resulting in -3.66% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Carver Federal Savings Bank has shown is below average.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Carver Federal Savings Bank has $638.9 million in assets with $69.17 million in equity, resulting in a capitalization level of 10.83%, which is above average.

Institution Statistics

Overall
FDIC Certificate #30394
Year Established1948
Employees133
Primary RegulatorOCC
Assets and Liabilities
Assets$638.90 million
Loans$392.43 million
Deposits$490.77 million
Equity Capital$60.76 million
Loan Loss Allowance$8.42 million
Unbacked Noncurrent Loans$22.59 million
Real Estate Owned$1.43 million
Historic Data - December 2012
Assets$640.48 million
Equity Capital$64.77 million
Loan Loss Allowance$14.48 million
Unbacked Noncurrent Loans$22.59 million
Real Estate Owned$3.00 million
Profit Margin - Quarterly
Net Interest Margin3.35%
Return on Assets0.34%
Return on Equity3.47%
Interest Income$23.86 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Carver Federal Savings Bank, we are a rate comparison website and can not provide official rates or promotions.

Carver Federal Savings Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$10k-Relationship Statement Savings
0.25%$300-Statement Savings
0.25%$300-Senior Statement Savings
0.25%--Lease Security Tenant Savings
0.25%$300-Minor Statement Savings
0.15%$300-Burial Savings
0.15%--Kids Bank on Us Savings
0.15%$25-Holiday Club Savings
0.15%$25-Vacation Club Savings

Carver Federal Savings Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.75%$50k-Business Promo Premier MM
0.75%$50k-Premier Promo Money Market
0.50%$50k-Premier Money Market
0.50%$50k-Business Premier Money Market
0.30%$50k-Money Market

Carver Federal Savings Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$500-IOLTA
0.15%--NOW Interest Checking

Carver Federal Savings Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-5 Year CD
0.75%$1k-48 Month CD
0.50%$1k-36 Month CD
0.40%$1k-30 Month CD
0.30%$1k-24 Month CD
0.25%$2,500-12 Month CD
0.25%$1k-18 Month CD
0.20%$2,500-91 Day CD
0.20%$2,500-182 Day CD

Carver Federal Savings Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-5 Year IRA
0.75%$1k-48 Month IRA
0.50%$1k-36 Month IRA
0.40%$1k-30 Month IRA
0.30%$1k-24 Month IRA
0.25%$2,500-12 Month IRA
0.25%$1k-18 Month IRA
Locations


Carver Federal Savings Bank Locations
Crown Heights Branch1009 Nostrand AvenueBrooklyn, NY 11225
St. Albans Branch115-02 Merrick BlvdJamaica, NY 11434
Bedford-Stuyvesant Branch1392 Futlon StreetBrooklyn, NY 11216
Malcolm X Boulevard Branch142 Malcolm X BoulevardNew York, NY 10026
Jamaica Center Branch158 45 Archer AveJamaica, NY 11433
Pathmark Branch160 East 125 StreetNew York, NY 10027
Bradhurst Branch300 West 145th StreetNew York, NY 10039
Atlantic Terminal Branch4 Hanson PlaceBrooklyn, NY 11217
Carver Federal Savings Bank75 West 125th StreetNew York, NY 10027
Flatbush Branch833 Flatbush AvenueBrooklyn, NY 11226