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328:. Its closest branch is at the location of its previous headquarters, a four-story building at 75 West 125th Street, New York, which it owned and operated since 1956. The bank vacated the building between October 1992 and March 1996, after it was destroyed by an
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344:. In 1970, Richard Greene was appointed president and CEO and led the bank for the next 25 years. In 1995, Thomas Clark Jr. was appointed director, President, succeeding Greene. In April 1999, Carver's
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in 1948. On
November 5, of that year, Carver Federal Savings and Loan Association received a federal bank charter. Its first branch opened on January 5, 1949, at 53 West 125th Street.
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224:. Neither of these were the first Black-owned American bank. Carver Federal Savings, however, is the largest and oldest continually Black-operated U.S. bank.
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along with Carver co-founder Joseph E. Davis, it hired future leaders, such as
Richard T. Greene Sr., "who for 30 years was the president and a director."
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In July 1982, Carver merged with Allied
Federal Bank. It became a federal savings bank and changed its name to Carver Federal Savings Bank in 1986.
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The bank applied for a federal charter "after the state had denied it a charter," and opened in a simple
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as its second female president and CEO. She retired on
December 31, 2014. Effective January 1, 2015
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A Shaky Pillar in Harlem: Black-Owned Carver Bank Is
Resistant to Profitability and Change.
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to meet the financial services needs of
African- and Caribbean-Americans in New York City
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Founding
Officers, Carver Federal Savings & Loan Association, New York City, 1948.
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to train Blacks for careers in the banking professions in New York for the first time
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The team leader, Weston, lived to 91; team member
William R. Hudgins lived to 100:
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From 1948 to 1968, Carver was led by Joseph E. Davis, its first
President and
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in 1948. Carver
Federal Savings Bank was not the first bank named after
665:"Carver Federal Hires Thomas Clark, N.Y. Regulator, as Chief Executive"
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712:
From the New York Times Archive, July 11, 1999. Story by Leslie Eaton.
640:"Carver Federal Savings sells Harlem headquarters for $ 19.45 million"
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305:
53:
308:-based bank to take it over. The bank expanded in 2004 by acquiring
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RegusWachovia Global Equity Holding Group & Carver Bancorp, Inc.
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in 1948, is the "largest black-owned financial institution" in the
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514:"Richard T. Greene Sr., 93, Is Dead; Made a Bank an Institution"
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537:"HARLEM;Bank Rebuilds, To Street's Benefit, After a Major Fire"
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Carver's branch count was seven in 2001; by 2007 it was ten.
613:"Carver Federal Savings Bank Plans to Move Its Headquarters"
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490:"William R. Hudgins, 100, Who Led Black-Owned Banks, Dies"
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Carver Bank is headquartered in the Lee Building at 1825
558:"2 Financial Institutions Find Common Cause in New York"
423:"M. Moran Weston, 91, Priest and Banker of Harlem, Dies"
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already had earlier experience as the 1945-founder of a
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In February 1961, Carver opened a second branch in the
447:"Former City Official Named Chief of Black-Owned Bank"
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Carver Federal Savings Bank served multiple purposes:
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685:"Saving Carver Federal, New York's last black bank"
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468:"How Can You Be an Ally? Go to a Black-Owned Bank"
198:Community Development Financial Institution (CDFI)
286:. In June 1975, a third branch was opened in the
242:, and, for Carver, had a supporting team of 14.
252:to help black homeowners obtain first mortgages
304:In 1999 the bank "headed off" an attempt by a
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849:Black-owned companies of the United States
844:Companies formerly listed on NYSE American
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556:Michael J. de la Merced (March 16, 2007).
512:Michael J. de la Merced (August 9, 2006).
27:
20:
16:Black-operated 1948-founded NYC-based bank
466:Katherine Waldock (September 21, 2020).
316:Carver Federal Savings Bank headquarters
216:. Four years earlier an unrelated bank,
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267:The bank began operations at 53 West
7:
332:. In 2018, it was sold by the bank.
192:The bank has been designated by the
488:Dennis Hevesi (September 5, 2007).
218:Carver Savings and Loan Association
717:Carver Bancorp Inc. New York Times
14:
310:Independence Federal Savings Bank
177:, opened under the leadership of
445:Terry Pristin (April 13, 1999).
421:Douglas Martin (May 22, 2002).
834:Companies listed on the Nasdaq
813:Solvent Savings Bank and Trust
1:
579:"Merger Of Black-Owned Banks"
342:Chief Executive Officer (CEO)
839:Banks based in New York City
577:John Holl (March 17, 2004).
397:“Carver Federal names CEO,”
175:Carver Federal Savings Bank
79:; 76 years ago
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803:Mechanics and Farmers Bank
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689:Crain's New York Business
644:Crain's New York Business
401:Crain's New York Business
360:succeeded Wright as CEO.
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336:Transition of leadership
214:George Washington Carver
194:U.S. Treasury Department
189:is its holding company.
788:Freedman's Savings Bank
370:Freedman's Savings Bank
358:chief operating officer
763:African American banks
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773:Broadway Federal Bank
290:section of Brooklyn.
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404:, November 18, 2014.
356:, the president and
22:Carver Bancorp, Inc.
617:Commercial Observer
297:Corporate structure
150:Number of employees
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783:City National Bank
673:. January 5, 1995.
599:"The Lee Building"
584:The New York Times
563:The New York Times
542:The New York Times
519:The New York Times
495:The New York Times
473:The New York Times
452:The New York Times
428:The New York Times
346:board of directors
280:Bedford-Stuyvesant
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350:Deborah C. Wright
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728:Official website
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691:. March 22, 2015
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619:. March 16, 2018
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222:Omaha, Nebraska
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154:42130 (2021)
92:Headquarters
36:Company type
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322:Park Avenue
828:Categories
381:References
348:appointed
210:storefront
164:carverbank
108:Key people
793:Greenwood
117:president
68:Financial
48:Traded as
649:July 19,
623:July 19,
364:See also
284:Brooklyn
128:Products
100:New York
96:New York
64:Industry
695:May 20,
204:History
159:Website
135:Savings
82: (
74:Founded
56::
778:Carver
306:Boston
54:Nasdaq
40:Public
196:as a
140:Loans
697:2020
651:2018
625:2018
166:.com
119:and
84:1948
77:1948
58:CARV
324:in
271:in
121:CEO
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
