Crain's has been following the story on the financially troubled Carver Bank which needs to raise $20 million in fresh capital by the end of April or will close:
LINK. The Harlem-based Carver was partially established by Jackie Robinson back in 1948 and the institution is the largest African-American owned bank in the nation but has been mired with delinquent real estate loans in the recent downturn. Annual profits at its best has been around $5 million and the bank is known for lending to minority clients especially during the times when many others would not do so. An annual stockholders meeting was held yesterday at the Studio Museum and the bank's CEO Deborah Wright announced that Wall Street firm Keefe Bruyette & Woods have been hired to try to find investors to save the bank:
LINK
No comments:
Post a Comment