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339:. 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
355:. 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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235:. 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
676:"Carver Federal Hires Thomas Clark, N.Y. Regulator, as Chief Executive"
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220:
723:
From the New York Times Archive, July 11, 1999. Story by Leslie Eaton.
651:"Carver Federal Savings sells Harlem headquarters for $ 19.45 million"
609:
78:
319:-based bank to take it over. The bank expanded in 2004 by acquiring
198:
RegusWachovia Global Equity Holding Group & Carver Bancorp, Inc.
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in 1948, is the "largest black-owned financial institution" in the
39:
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525:"Richard T. Greene Sr., 93, Is Dead; Made a Bank an Institution"
548:"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.
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624:"Carver Federal Savings Bank Plans to Move Its Headquarters"
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501:"William R. Hudgins, 100, Who Led Black-Owned Banks, Dies"
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Carver Bank is headquartered in the Lee Building at 1825
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569:"2 Financial Institutions Find Common Cause in New York"
434:"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
458:"Former City Official Named Chief of Black-Owned Bank"
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Carver Federal Savings Bank served multiple purposes:
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449:
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696:"Saving Carver Federal, New York's last black bank"
479:"How Can You Be an Ally? Go to a Black-Owned Bank"
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209:Community Development Financial Institution (CDFI)
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476:
297:. In June 1975, a third branch was opened in the
836:
253:, and, for Carver, had a supporting team of 14.
263:to help black homeowners obtain first mortgages
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315:In 1999 the bank "headed off" an attempt by a
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860:Black-owned companies of the United States
855:Companies formerly listed on NYSE American
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567:Michael J. de la Merced (March 16, 2007).
523:Michael J. de la Merced (August 9, 2006).
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27:Black-operated 1948-founded NYC-based bank
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477:Katherine Waldock (September 21, 2020).
327:Carver Federal Savings Bank headquarters
237:
227:. Four years earlier an unrelated bank,
14:
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307:
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278:The bank began operations at 53 West
343:. In 2018, it was sold by the bank.
203:The bank has been designated by the
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499:Dennis Hevesi (September 5, 2007).
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229:Carver Savings and Loan Association
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728:Carver Bancorp Inc. New York Times
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871:
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321:Independence Federal Savings Bank
188:, opened under the leadership of
456:Terry Pristin (April 13, 1999).
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432:Douglas Martin (May 22, 2002).
845:Companies listed on the Nasdaq
824:Solvent Savings Bank and Trust
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1:
590:"Merger Of Black-Owned Banks"
391:
353:Chief Executive Officer (CEO)
850:Banks based in New York City
588:John Holl (March 17, 2004).
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408:“Carver Federal names CEO,”
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186:Carver Federal Savings Bank
90:; 76 years ago
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814:Mechanics and Farmers Bank
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700:Crain's New York Business
655:Crain's New York Business
412:Crain's New York Business
371:succeeded Wright as CEO.
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347:Transition of leadership
225:George Washington Carver
205:U.S. Treasury Department
200:is its holding company.
799:Freedman's Savings Bank
381:Freedman's Savings Bank
369:chief operating officer
774:African American banks
243:
784:Broadway Federal Bank
301:section of Brooklyn.
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415:, November 18, 2014.
367:, the president and
33:Carver Bancorp, Inc.
628:Commercial Observer
308:Corporate structure
161:Number of employees
34:
794:City National Bank
684:. January 5, 1995.
610:"The Lee Building"
595:The New York Times
574:The New York Times
553:The New York Times
530:The New York Times
506:The New York Times
484:The New York Times
463:The New York Times
439:The New York Times
357:board of directors
291:Bedford-Stuyvesant
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361:Deborah C. Wright
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16:(Redirected from
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739:Official website
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702:. March 22, 2015
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233:Omaha, Nebraska
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165:42130 (2021)
103:Headquarters
47:Company type
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333:Park Avenue
839:Categories
392:References
359:appointed
221:storefront
175:carverbank
119:Key people
804:Greenwood
128:president
79:Financial
59:Traded as
660:July 19,
634:July 19,
375:See also
295:Brooklyn
139:Products
111:New York
107:New York
75:Industry
706:May 20,
215:History
170:Website
146:Savings
93: (
85:Founded
67::
789:Carver
317:Boston
65:Nasdaq
51:Public
207:as a
151:Loans
708:2020
662:2018
636:2018
177:.com
130:and
95:1948
88:1948
69:CARV
335:in
282:in
132:CEO
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
