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Carver Bancorp announced Tuesday that it entered in a deal with Bank of America subsidiary, Banc Of America Strategic Investments Corporation, Carver stock $CARV was boosted last week with the news JP Morgan would be looking to lend $30 billion to minorities.

Carver Bancorp 1948

Under the agreement Carver Issued And Sold 147,227 Shares At $6.62/Share; Offering Resulted In Gross Proceeds Of $947,643

Item 3.02 Unregistered Sales of Equity Securities.

On October 15, 2020, Carver Bancorp, Inc. (the "Company"), parent company of Carver Federal Savings Bank, entered into an Investment Agreement with Banc of America Strategic Investments Corporation, a Delaware corporation, under which it issued and sold 147,227 shares of its common stock, par value $0.01, at a price of $6.62 per share. The shares were issued on October 15, 2020, in a private placement exempt from registration under Section 4(2) of the Securities Act of 1933, as amended, and Regulation D of the rules and regulations promulgated thereunder. The offering resulted in gross proceeds of $947,643. There were no underwriting discounts or commissions.-------------------------------------------------- via Edgar Online

Narket Reaction

Carver Bancorp Inc NASDAQ: CARV

Closed 6.70 ▲ 0.09 (+1.36%)

Post news: $7.74 ▲ 1.04 (+15.52%) After Hours  October 20, 7:59 PM EDT

About Carver

Carver Bancorp, Inc., is the holding company for Carver Federal Savings Bank, a federally chartered savings bank offering consumer and business banking products and services. Carver was founded in 1948 to serve African-American communities whose residents, businesses, and institutions had limited access to mainstream financial services. /

Today, Carver is the largest African-American operated bank in the United States. Carver Federal Savings Bank is available in New York. Founded in 1948 and named after agricultural scientist, George Washington Carver, the bank continues its mission to provide banking products to underserved communities. Carver originates mortgage loans to purchase or refinance one- to four-family residential, multi-family residential and commercial properties; originates or participates in loans for construction or renovation of commercial property and residential housing developments; and provides loans to business and non-profit organizations.

Carver Bancorp card

About Bank of America

The Bank of America Corporation (simply referred to as Bank of America, often abbreviated as BofA) is an American multinational investment bank and financial services company headquartered in Charlotte, North Carolina, with central hubs in New York City, London, Hong Kong, Dallas, and Toronto. Founded in San Francisco, Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. It is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States.[3] It services approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

Source: Edgar, Carver, Bankof America

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