Your Deposits Are Safe With Carver

Dear Customer:

Carver State Bank values our relationship with you, and we are reaching out to reassure you that your deposits are safe with Carver. Even though the recent news of the failure of Silicon Valley Bank and Signature Bank was unsettling, we are confident in the U.S. banking system, and we are especially confident in Carver. Our bank is in its strongest position ever and we are ready to serve you and continue to have a positive impact in the community.

Carver is a Black owned, mission-driven bank, and our mission is “To Provide the Building Blocks to Financial Freedom.” We are proud to have served for nearly 100 years, and we are propelling ourselves forward into our next 100 years by helping our customers Build Money, Build Homes, Build Businesses, and Build Communities. Carver is not only fundamentally sound, but we also have unmatched community impact. Here are just a few facts:

• Five Star Financial Rating – BauerFinancial, the nation’s premier bank rating firm, just gave Carver State Bank its highest 5-Star Superior rating. No institution can pay for or opt out of a BauerFinancial rating.
• Capital – Carver is better capitalized than ever. In the past three years, our equity capital base has more than doubled at the bank and grown by more than 4 times at our holding company level. This additional equity capital makes Carver stronger and far more resilient. It also makes your deposits with us even more secure.
• Liquidity – Carver has substantial liquidity. New deposits from consumers and corporations who want to make sure their banking reflects their values have provided record-high liquidity in our bank. We also have untapped lines of credit at the Federal Reserve and Federal Home Loan Bank of Atlanta. This means we can easily meet customer requests for funds and continue to lend in our community to maximize our impact.
• Diverse & Secure Assets – Carver is diversified in terms of our lending. Whether loans to support small business, homeownership, or community facilities, our loan portfolio is well-balanced, thereby minimizing our risk if any one sector fails. Our bank also prefers well-collateralized loans, which lessens risk.
• Impact – Banks like Carver use deposits to make loans. Carver lends more to minority communities and businesses than other banks. For example, in 2022, 99% of Carver State Bank’s loans went to African Americans or low- to moderate-income communities. Carver’s strong impact track record has helped us maintain an “Outstanding” Community Reinvestment Act Rating for almost 20 years. This “Outstanding” Rating was most recently reaffirmed in 2022.

Carver is sound, and we are rapidly upgrading our systems, products, and technology to better serve our customers and maximize our community impact.

Robert James, II

President & CEO, Carver Financial Corporation