Carver Bancorp Inc. reported a net loss of $13.7 million for the fiscal year ending March 31, 2025, significantly widening from the net loss of $3.0 million recorded in the previous fiscal year. This change in financial performance was primarily attributed to increased interest and non-interest expenses, along with a higher provision for credit losses. The company also experienced a decrease in non-interest income, partially offset by a slight rise in interest income compared to the prior fiscal year. In response to the challenging business climate, Carver Bancorp's management is implementing a new three-year strategic plan aimed at achieving sustainable earnings. This plan includes measures for growth, capital, liquidity, and balance sheet optimization under the leadership of a new Chief Executive Officer. The company continues to face significant challenges from heightened regulatory costs and competition for limited loan opportunities but remains committed to improving and sustaining its earnings performance.
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