Carver Federal Savings Bank

Carver Federal Savings Bank Locations
75 West 125th Street at Lenox Avenue
New York, NY 10027
718-230-2900
www.carverbank.com



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.



See Rates for: Checking | Savings | Money Market | CD | IRA

Carver Federal Savings Bank Checking Account Rates

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1.00%$500-IOLTA
0.15%--NOW Interest Checking

Carver Federal Savings Bank Savings Account Rates

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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

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1.00%$25k-New Premier Money Market
0.90%$10k-Premier Money Market
0.90%$10k-Business Premier Money Market
0.50%$1k-Money Market

Carver Federal Savings Bank CD Rates

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1.60%$1k-5 Year CD
1.50%$1k-30 Month CD
1.50%$1k-36 Month CD
1.50%$1k-48 Month CD
0.80%$1k-24 Month CD
0.70%$1k-18 Month CD
0.60%$2,500-12 Month CD
0.40%$2,500-182 Day CD
0.35%$2,500-91 Day CD

Carver Federal Savings Bank IRA Rates

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1.60%$1k-5 Year IRA
1.50%$1k-30 Month IRA
1.50%$1k-36 Month IRA
1.50%$1k-48 Month IRA
0.80%$1k-24 Month IRA
0.70%$1k-18 Month IRA
0.60%$2,500-12 Month IRA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Carver Federal Savings Bank
OTS #05273
FDIC Certificate #30394
BankRate ReportView
Year Established1948
Employees131
Primary RegulatorOCC

Assets and Liabilities

Assets$677.69 million
Loans$509.31 million
Deposits$515.58 million
Equity Capital$61.54 million
Loan Loss Allowance$19.42 million
Unbacked Noncurrent Loans$115.27 million
Real Estate Owned$275,000

Historic Data - September 2010

Assets$754.67 million
Equity Capital$48.48 million
Loan Loss Allowance$13.61 million
Unbacked Noncurrent Loans$75.19 million
Real Estate Owned$19,000

Profit Margin - Quarterly

Net Interest Margin3.6%
Return on Assets-3.68%
Return on Equity-48.81%
Interest Income$23.52 million

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio1
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 September 30, 2011 Carver Federal Savings Bank had $115.55 million in non-current loans and owned real-estate with $80.96 million in equity and loan loss allowances on hand to cover it. This gives Carver Federal Savings Bank a Texas Ratio of 142.72% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Carver Federal Savings Bank held steady from 126.04% as of September 30, 2010 to 142.72% as of September 30, 2011, resulting in a negative change of 13.23%. This indicates that the balance sheet and financial strength for Carver Federal Savings Bank has held steady in recent periods.
Deposit Growth1
In the past year, Carver Federal Savings Bank has decreased its total deposits by -$86.64 million, resulting in -14.39% 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 poor.
Capitalization4
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 $677.69 million in assets with $80.96 million in equity, resulting in a capitalization level of 11.95%, which is above average.
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