<SEC-DOCUMENT>0001104659-24-124151.txt : 20241129
<SEC-HEADER>0001104659-24-124151.hdr.sgml : 20241129
<ACCEPTANCE-DATETIME>20241129171336
ACCESSION NUMBER:		0001104659-24-124151
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20241129
DATE AS OF CHANGE:		20241129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARVER BANCORP INC
		CENTRAL INDEX KEY:			0001016178
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				133904174
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13007
		FILM NUMBER:		241516949

	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>
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<SEQUENCE>1
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<DESCRIPTION>DEFA14A
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Amendment No. ______)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by the Registrant <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed by
a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Preliminary Proxy Statement</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify">Definitive Proxy Statement</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">Definitive Additional Materials</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Soliciting Material Pursuant to &sect; 240.14a-12</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 18pt"><B>Carver
Bancorp, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified In Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Person(s) Filing Proxy Statement, if other
than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD><TD STYLE="text-align: justify">No fee required.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Fee paid previously with preliminary materials.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2"></FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><IMG SRC="image_001.jpg" ALT="" STYLE="height: 67px; width: 538px"></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Leading Independent Proxy Advisory Firm ISS
Recommends Carver Bancorp, Inc. Stockholders Vote FOR the Company's Highly Qualified Director Nominees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>-- ISS Concludes Dream Chasers Has Not Made
a Compelling Case for Change --</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>--
Carver Encourages Stockholders to Follow ISS&rsquo; Recommendation and Vote FOR the Company's Director Nominees and select WITHHOLD for
the Dream Chasers</I></FONT>' <I>Nominees on the White Universal Proxy Card --</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">New York&mdash;November 29, 2024/PRNewswire/
-- Carver Bancorp, Inc. (Nasdaq: CARV) (&quot;Carver&quot; or the &quot;Company&quot;), the holding company for Carver Federal Savings
Bank (the &quot;Bank&quot;), a certified Community Development Financial Institution (&quot;CDFI&quot;) and designated Minority Depository
Institution (&quot;MDI&quot;), today announced that <B>Institutional Shareholder Services (&quot;ISS&quot;), a leading proxy advisory
firm, has recommended Carver stockholders vote FOR its highly qualified director nominees, Jillian E. Joseph and Kenneth J. Knuckles,
at the upcoming Annual Meeting of Stockholders scheduled for Thursday, December 12, 2024</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In its recommendation, <B>ISS concludes that Dream Chasers (the &quot;dissident&quot;)
has <U>not</U> made a compelling case for change<SUP>1</SUP></B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&quot;Operational
                                            turnarounds at small community banks can be a multi-year effort, and the company's formal
                                            agreement with the OCC, coupled with the 2023 banking crisis, may have contributed to a slower
                                            than anticipated recovery. &quot;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&quot;The
                                            recent appointment of Felix as CEO appears to be a step in the right direction. He appears
                                            to have relevant experience and an understanding of the issues facing the bank, and despite
                                            his short tenure, he has developed what appears to be a logical go-forward plan. Moreover,
                                            Felix has seemingly been endorsed by the dissident.&quot;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&quot;Thus,
                                            it is important for management to focus on execution, and for the board to not only exercise
                                            oversight, but provide support during the process.&quot;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&quot;Moreover,
                                            the dissident is advocating for a dramatically different (and seemingly riskier) strategy
                                            than that now in progress under Felix. The addition of nominees associated with this perspective
                                            could introduce disruption that CARV cannot afford at this stage (there are also credible
                                            reputational concerns).&quot;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&quot;Although
                                            the dissident has not presented a compelling case for change at this time, shareholders will
                                            likely expect to see measurable improvements in performance and corporate governance in the
                                            near term.&quot;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&quot;Ultimately,
                                            the company's go-forward plan is appropriately focused on restoring profitability to the
                                            core banking franchise, whereas the dissident has called for a radically different and inherently
                                            riskier plan.&quot;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Commenting on the ISS recommendation, <B>Lewis P. Jones III, Chairman
of the Board</B>, stated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&quot;ISS support for our director nominees, Jillian E. Joseph and
Kenneth J. Knuckles, and new CEO, Donald Felix, is a strong endorsement in advance of our upcoming shareholder vote on December 12, 2024.
We appreciate ISS' recognition of our plans to restore long-term profitability at Carver and the proxy advisory firm's acknowledgment
that Dream Chasers has not presented a compelling alternative to move Carver ahead and whose nominees could be disruptive to Carver's
forward progress. ISS' independent and third-party recommendation confirms the Board's conclusion that Dream Chasers' director nominees
are not suitable to serve on the Carver Board.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
urge you to support Carver by voting &quot;FOR&quot; your highly qualified incumbent directors, <B>Jillian E. Joseph and Kenneth J. Knuckles</B>,
and selecting &quot;WITHHOLD&quot; for the Dream Chasers</FONT>' Nominees on your <B>WHITE Proxy Card</B>. Please ignore any proxy materials
you may have received from Dream Chasers and vote on the Company's&nbsp;<B>WHITE&nbsp;Proxy Card</B> for Carver's incumbent directors
to protect your investment. It is important that you&nbsp;vote&nbsp;every&nbsp;<B>WHITE</B>&nbsp;<B>Proxy Card</B> you receive to support
Carver Bancorp, Inc.'s highly qualified nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As presented to ISS, shareholders are encouraged to review Carver's
compelling business case to drive shareholder value: <U>https://d18rn0p25nwr6d.cloudfront.net/CIK-0001016178/a60aaab4-2eb1-48b5-b2d4-ff1c2f925134.html</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP></FONT>Permission to use quoted language from the ISS recommendation report in favor of Carver was neither sought nor obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>About
</B></FONT><B><U>Carver Bancorp, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carver&nbsp;Bancorp, Inc. (NASDAQ: <U>CARV</U>) is the holding company
for Carver Federal Savings Bank, a federally chartered stock savings bank. Headquartered in Harlem, NY, Carver was founded in 1948 to
serve historically underserved communities in New York whose residents, businesses, and institutions had limited access to mainstream
financial services. The U.S. Treasury Department has designated Carver as a Community Development Financial Institution (&quot;CDFI&quot;)
because of its community-focused banking services and dedication to its local community's economic viability and revitalization. Carver
is one of the largest African- and Caribbean-American-managed banks in the United States. Carver's online banking presence includes consumer
checking and savings accounts across nine states, from Massachusetts to Virginia and Washington, DC. For further information, please
visit the Company's website at <U>www.carverbank.com</U>. Be sure to connect with Carver on&nbsp;<U>Facebook</U>, <U>LinkedIn</U>, and
<U>Instagram</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Certain statements in this press release are &quot;forward-looking
statements&quot; within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current
expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in
these statements due to a variety of factors, risks, and uncertainties. More information about these factors, risks, and uncertainties
is contained in our filings with the Securities and Exchange Commission.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Additional Information and Where to Find it</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has filed with the SEC a definitive proxy statement on
Schedule 14A, containing a form of WHITE proxy card, with respect to its solicitation of proxies for the Company&rsquo;s 2024 Annual Meeting
of Stockholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO)
FILED BY THE COMPANY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL
CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Investors and security holders may obtain copies of these documents and other documents
filed with the SEC by the Company free of charge through the website maintained by the SEC at&nbsp;<U>www.sec.gov</U>. Copies of the documents
filed by the Company are also available free of charge by accessing the Company&rsquo;s website at&nbsp;<U>www.carverbank.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Participants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company, its directors and executive officers and other members
of management and employees will be participants in the solicitation of proxies with respect to a solicitation by the Company. Information
about the Company&rsquo;s executive officers and directors is available in the Company&rsquo;s definitive proxy statement for its 2024
Annual Meeting, which was filed with the SEC on October 31, 2024. To the extent holdings by our directors and executive officers of the
Company&rsquo;s securities reported in the proxy statement for the 2024 Annual Meeting have changed, such changes have been or will be
reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are or will be available free of
charge at the SEC&rsquo;s website at&nbsp;<U>www.sec.gov</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Media:<BR>
</B></FONT>Michael Herley&nbsp;for Carver<BR>
203.308.1409<BR>
<U>mediainquiries@carverbank.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investors:<BR>
</B></FONT><U>ir@carverbank.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
