Thursday, June 30, 2011

☞ READ: Wall Street Saves Carver Bank

Earlier on in the spring it was announced that Carver Bank was in jeopardy of shutting down because it needed $20 million in fresh capital to stay afloat and now Wall Street has stepped in to save the Harlem institution. Back in April, a Wall Street firm was hired by CEO Deborah Wright to find additional investors and it now appears that they have achieved their goal.  Crain's reports that "Goldman Sachs Group Inc. and Morgan Stanley... have agreed to invest $15 million each, while Citigroup Inc. and Prudential Financial have agreed to put in $10 million."  The Harlem-based Carver has been around since 1948 but has been mired with delinquent real estate loans in the recent downturn. Read more in Crain's: LINK

1 comment:

  1. Oh Good! I hope this is the ticket for them