$CARV

CARVER BANCORP INC

CIK:0001016178|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Interest income:
Loans	$ 7,765	$ 8,711	$ 16,191	$ 16,778
Mortgage-backed securities	127	133	256	273
Investment securities	216	288	447	580
Money market investments	459	694	877	1,402
Total interest income	8,567	9,826	17,771	19,033
Interest expense:
Deposits	3,147	3,233	6,433	6,344
Advances and other borrowed money	288	598	565	1,190
Total interest expense	3,435	3,831	6,998	7,534
Net interest income	5,132	5,995	10,773	11,499
Financing Receivable, Excluding Accrued Interest, Credit Loss Expense (Reversal)	(15)	461	(41)	721
Net interest income after provision for (recovery of) credit losses	5,147	5,534	10,814	10,778
Non-interest income:
Depository fees and charges	675	545	1,348	1,083
Loan fees and service charges	249	73	407	44
Loss on sale of loans, net	0	(191)	0	(191)
Grant income	0	0	0	80
Other	325	157	762	273
Total non-interest income	1,249	584	2,517	1,289
Noninterest Expense [Abstract]
Employee compensation and benefits	3,532	3,542	7,213	7,043
Net occupancy expense	1,195	1,279	2,425	2,476
Equipment, net	639	550	1,229	1,130
Data processing	704	793	1,288	1,525
Consulting fees	722	201	859	280
Federal deposit insurance premiums	214	159	447	329
Other	1,821	1,707	3,478	3,609
Total non-interest expense	8,827	8,231	16,939	16,392
Loss before income taxes	(2,431)	(2,113)	(3,608)	(4,325)
Income tax expense	0	0	0	0
Net loss	$ (2,431)	$ (2,113)	$ (3,608)	$ (4,325)
Loss per common share:
Earnings (loss) per Share, Basic (in dollars per share)	$ (0.46)	$ (0.41)	$ (0.68)	$ (0.84)
Earnings (loss) per Share, Diluted (in dollars per share)	$ (0.46)	$ (0.41)	$ (0.68)	$ (0.84)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,608)	$ (4,325)
Adjustments to reconcile net income to net cash provided by operating activities:
Financing Receivable, Excluding Accrued Interest, Credit Loss Expense (Reversal)	(41)	721
Stock based compensation expense	13	27
Depreciation and amortization expense	368	439
Gain (Loss) on Sales of Loans, Net	0	191
Income from bank owned life insurance	83	80
Amortization and accretion of loan premiums and discounts and deferred charges, net	356	209
Amortization and accretion of premiums and discounts — securities	77	97
Increase in accrued interest receivable	(112)	(1,192)
Decrease (increase) in other assets	352	(659)
Increase (decrease) in other liabilities	863	(804)
Net cash used in operating activities	(1,815)	(5,376)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from principal payments, maturities and calls of investments: Available-for-sale	1,325	1,683
Proceeds from principal payments, maturities and calls of investments: Held-to-maturity	99	143
Loans held-for investment, net of (originations) and repayments/payoffs and maturities	(19,784)	(3,222)
Proceeds from loans sold	550	143
(Purchase) redemption of FHLB-NY stock, net	(295)	339
Purchase of premises and equipment	(284)	(260)
Net cash provided by investing activities	21,179	5,270
CASH FLOWS FROM FINANCING ACTIVITIES
Net (decrease) increase in deposits	(36,245)	3,812
Proceeds from short-term borrowings	5,000	0
Proceeds from Issuance of Long-term Debt	4,127	1,814
Repayment of long-term borrowings	(1,814)	(10,000)
Net cash used in financing activities	(28,932)	(4,374)
Net decrease in cash and cash equivalents	(9,568)	(4,480)
Cash and cash equivalents at beginning of period	50,315	59,025
Cash and cash equivalents at end of period	40,747	54,545
Noncash financing and investing activities
Recognition of finance lease asset	13	0
Recognition of finance lease liability	13	0
Cash paid for:
Interest	6,583	7,502
Tax on capital	$ 110	$ 127