Carver Bancorp Appoints New CFO
Ticker: CARV · Form: 8-K · Filed: Sep 16, 2024 · CIK: 1016178
Sentiment: neutral
Topics: executive-appointment, cfo, leadership-change
Related Tickers: CARV
TL;DR
Carver Bancorp names Craig A. Wilson as new CFO, starting Sept 16.
AI Summary
Carver Bancorp, Inc. announced on September 11, 2024, the appointment of Craig A. Wilson as Chief Financial Officer, effective September 16, 2024. Wilson will also serve as Executive Vice President and Chief Financial Officer of Carver Federal Savings Bank. He previously held senior finance roles at Signature Bank and Sterling National Bank.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategy and performance.
Key Players & Entities
- Carver Bancorp, Inc. (company) — The company filing the report.
- Craig A. Wilson (person) — Newly appointed Chief Financial Officer.
- September 11, 2024 (date) — Date of the earliest event reported.
- September 16, 2024 (date) — Effective date of the new CFO's appointment.
- Carver Federal Savings Bank (company) — Subsidiary where the CFO will also hold a position.
- Signature Bank (company) — Previous employer of the new CFO.
- Sterling National Bank (company) — Previous employer of the new CFO.
FAQ
Who has been appointed as the new Chief Financial Officer of Carver Bancorp, Inc.?
Craig A. Wilson has been appointed as the new Chief Financial Officer of Carver Bancorp, Inc.
When is Craig A. Wilson's appointment as CFO effective?
Craig A. Wilson's appointment as CFO is effective September 16, 2024.
Will the new CFO also hold a position at Carver Federal Savings Bank?
Yes, Craig A. Wilson will also serve as Executive Vice President and Chief Financial Officer of Carver Federal Savings Bank.
What were some of Craig A. Wilson's previous roles?
Craig A. Wilson previously held senior finance roles at Signature Bank and Sterling National Bank.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is September 11, 2024.
Filing Stats: 1,318 words · 5 min read · ~4 pages · Grade level 10.9 · Accepted 2024-09-16 16:35:34
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share CARV NASDAQ Indicate by
- $700,000 — x will receive an annual base salary of $700,000 and the base salary may be increased as
- $100,000 — ent provides for, among other things, a $100,000 signing bonus, two performance equity g
- $500,000 — ormance-based cash bonus opportunity of $500,000, temporary corporate housing in an amou
- $5,000 — ry corporate housing in an amount up to $5,000 per month, and other benefit plans and
Filing Documents
- form8k_091124.htm (8-K) — 33KB
- ex10-1_8k091124.htm (EX-10.1) — 116KB
- ex99-1_8k091124.htm (EX-99.1) — 15KB
- image0.jpg (GRAPHIC) — 297KB
- 0000943374-24-000375.txt ( ) — 737KB
- carv-20240911.xsd (EX-101.SCH) — 4KB
- carv-20240911_lab.xml (EX-101.LAB) — 21KB
- carv-20240911_pre.xml (EX-101.PRE) — 16KB
- form8k_091124_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On September 16, 2024, Carver Bancorp, Inc. (the "Company") announced the hiring of Donald Felix, age 50, as President and Chief Executive Officer of the Company and Carver Federal Savings Bank (the "Bank"), effective November 1, 2024. Mr. Felix will also serve as a member of the Board of Directors of the Company and Bank (together, the "Board"). Prior to his employment with the Company and Bank, Mr. Felix served as Executive Vice President of Citizens Financial Group, Head of National Banking & Expansion from 2021 to 2023. Before that, he served as Managing Director of JPMorgan Chase, in the Consumer Bank as Head of Consumer Financial Health from 2019 to 2021. At Chase, he was also the Chief of Staff in the Office of the CEO, for Chase Consumer Bank & Wealth Management, from 2016 to 2019, and before joining Chase held various senior positions domestically and abroad at Citi from 1996 to 2016. Mr. Felix is not a party to any transaction with the Company or the Bank that would require disclosure under Item 404(a) of Securities and Exchange Commission Regulation S-K. The full text of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference. Craig C. MacKay, who serves as Interim President and Chief Executive Officer of the Company and Bank, will resign as Interim President and Chief Executive Officer effective October 31, 2024, and Mr. MacKay will continue to serve as a member of the Board. On September 11, 2024, the Company, the Bank and Mr. Felix entered into an employment agreement, effective November 1, 2024 (the "Start Date"), in connection with his hiring as President and Chief Executive Officer of the Company and Bank. The term of the Employment Agreement is two years and the term may be extended by mutual consent. The Employment Agreement provides that Mr.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Description 10.1 Employment Agreement, effective as of November 1, 2024, with Donald Felix 99.1 Press Release dated September 16, 2024 104.1 Cover Page for this Current Report on Form 8-K, formatted in Inline XBRL
SIGNATURES
SIGNATURES 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. CARVER BANCORP, INC. DATE: September 16, 2024 By: /s/ Isaac Torres Isaac Torres SVP, General Counsel and Corporate Secretary