<SEC-DOCUMENT>0000943374-11-000297.txt : 20110527
<SEC-HEADER>0000943374-11-000297.hdr.sgml : 20110527
<ACCEPTANCE-DATETIME>20110527151317
ACCESSION NUMBER:		0000943374-11-000297
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110526
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110527
DATE AS OF CHANGE:		20110527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARVER BANCORP INC
		CENTRAL INDEX KEY:			0001016178
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				133904174
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13007
		FILM NUMBER:		11877999

	BUSINESS ADDRESS:	
		STREET 1:		75 W 125TH ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10027-4512
		BUSINESS PHONE:		2128764747

	MAIL ADDRESS:	
		STREET 1:		75 W 125TH ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10027-4512
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>form8k_052711.htm
<DESCRIPTION>MCFADDEN RESIGNATION
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SECURITIES EXCHANGE ACT OF 1934</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported):&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">May 26, 2011</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CARVER BANCORP, INC.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Exact Name of Registrant as Specified in its Charter)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">75 West 125th Street, New York, NY</font></font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 5.02</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 40pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On May 26, 2011<font style="DISPLAY: inline; FONT-WEIGHT: bold">, </font>Carver Bancorp, Inc. (the &#8220;Company&#8221;), the holding company of Carver Federal Savings Bank (the &#8220;Bank&#8221;), announced that Chris A. McFadden resigned her positions as Executive Vice President and Chief Financial Officer of the Company and the Bank, effective June 10, 2011.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>The Finance Department, including treasury and reporting functions, will continue to be managed by David Toner, Senior Vice President and Controller.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 40pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On May 26, 2011, the Company announced that the Bank&#8217;s Board of Directors appointed Mark A. Ricca, currently Executive Vice President and Chief Risk Officer,&#160;as Chief Financial and Administrative Officer, effective June 10, 2011. In this role Mr. Ricca will have consolidated oversight of all financial, regulatory, compliance, legal, and risk management functions.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Mr. Ricca, age 53, joined Carver in 2008 and has over 20 years of experience with audit, risk management, legal, and front line business responsibilities in the banking community. Prior to joining the Company, Mr. Ricca was General Counsel and Assistant to the Chief Operating Officer at New York Community Bank. Previously, Mr. Ricca held positions with Haven Bancorp, Inc., General Electric and Ricca &amp; Donnelly.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</font></div>

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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CARVER BANCORP, INC.<font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 5pt">&#160;&#160;&#160;</font>&#160;FOR&#160;IMMEDIATE RELEASE</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Contact:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Michael Herley/ Ruth Pachman</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font>Kekst and Company</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font>(212) 521-4800</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Michael-Herley@kekst.com/</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">Ruth-Pachman@kekst.com</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CARVER BANCORP BUILDS OUT MANAGEMENT STRUCTURE</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">New York, NY, May 26, 2011 &#8211; </font>Carver Bancorp, Inc. (&#8220;Carver&#8221;) (NASDAQ: CARV), the holding company for Carver Federal Savings Bank (the &#8220;Bank&#8221;), today announced its intention to implement a revised management structure with two new executive positions consisting of President and Chief Operating Officer and Chief Finance and Administrative Officer.&#160;&#160;Both of these positions will report directly to Deborah C. Wright, Chairman and Chief Executive Officer of Carver Bancorp, Inc.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Deborah C. Wright, Chairman and Chief Executive Officer, said: &#8220;As we prepare for our future, the Board and management team are putting in place the framework to capitalize on opportunities ahead. While the economic environment in our marketplace continues to be challenging, we also see exciting prospects for highly-focused financial service companies like Carver.&#160;&#160;Accordingly, we believe now is the appropriate time to add managerial talent and enhance our reporting structure to allow us to most effectively complete the restructuring of our balance sheet and strengthen our operations, while returning to the important task of growing our franchise.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has retained Heidrick &amp; Struggles to conduct a search to identify candidates for the&#160;&#160;&#160;President and Chief Operating Officer position. This individual will oversee the Company&#8217;s new business and related operating functions including: Lending, Retail, Marketing and Human Resources departments.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Chris A. McFadden, Chief Financial Officer, has decided to resign the position of Chief Financial Officer, effective June 10, 2011, to pursue other opportunities. The Finance Department, including treasury and reporting functions, will continue to be managed by David Toner, Senior Vice President and Controller.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mark A. Ricca, Executive Vice President and Chief Risk Officer since November of 2008, will be appointed Chief Financial and Administrative Officer, effective June 10, 2011. In this role he will have consolidated oversight of all financial, regulatory, compliance, legal, and risk management functions.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;Mark is a proven talent and an asset to our organization,&#8221; Ms. Wright said.&#160;&#160;&#8220;We are confident that he will excel in this new role."</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;In addition, Chris has been a great partner to the entire executive team as we&#8217;ve navigated the challenging environment of the past two years. She revamped our Finance and Accounting Department and leaves it in good stead under Dave&#8217;s daily oversight. Since joining us from Banco Popular North America in September of 2009, Chris has brought a new discipline to our daily operations and we&#8217;ve all learned a great deal from her. We offer our thanks and very best wishes to Chris as she charts her next course.&#8221;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr. Ricca, 53, joined Carver in 2008 and brings to his position over 20 years of experience with audit, risk management, legal and front line business responsibilities in the banking industry. Prior to joining Carver, he was General Counsel and Assistant to the Chief Operating Officer at New York Community Bank.&#160;&#160;Previously Mr. Ricca held positions with Haven Bancorp, Inc., General Electric and Ricca &amp; Donnelly.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mr. Toner, 49, joined Carver in 2009 after more than 20 years with Citigroup in various financial control positions in the United States and Europe, including serving as Chief Financial Officer of Citigroup&#8217;s Community Development business from 2004 through 2007. Prior to joining Citigroup in 1987, Mr. Toner, a CPA, held various audit positions with Deloitte &amp; Touche (formerly Deloitte, Haskins &amp; Sells).</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">About Carver Bancorp, Inc.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Carver Federal Savings Bank, the largest African- and Caribbean-American run bank in the United States, operates nine full-service branches in the New York City boroughs of Brooklyn, Queens and Manhattan. For further information, please visit the Company's website at www.carverbank.com.</font></div>

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