Carver Bancorp Inc. · OTC:CARV
Carver Bancorp — Proxy Contest (December 2024)
23 slides from Carver Bancorp's proxy contest presentation, Dec 6, 2024
Slide 1: Executing on our Turnaround: Building Forward for Value Creation
Our commitment to Investors – Institutional Shareholder Services November 21, 2024 NASDAQ: CARV CELEBRATING 75 YEARS OF SERVICE TO THE COMMUNITY 1 NASDAQ: CARV Executing on our Turnaround: Building Forward for Value Creation
Slide 2: What is this Proxy Contest About?
What is this Proxy Contest About? • At this year’s Annual Shareholders Meeting, you will make a significant decision regarding the future strategy and direction of Carver Bancorp that either propels us further forward for the turnaround underway or sets us back by adding two unqualified directors, w
Slide 3: Table of Contents
Table of Contents 3 I Executive Summary 5 II Carver Overview and Turnaround Underway 7 III Carver’s Strategy and Roadmap for Value and Impact Creation 10 IV Our Dedicated Board and Governance is Driving Change 13 V Dream Chasers Poses Unacceptable Risk and No Viable Plan 16 VI Conclusion 19
Slide 4: Section I: Executive Summary
Section I Executive Summary 4
Slide 5: Change was needed and is accelerating
Change was needed and is accelerating 5 Executive Summary Turnaround and transformation are in progress Carver is successfully overcoming past challenges Carver’s Strategy and Roadmap Lead to Impact and Value Creation The Board has overseen decisive strategic repositioning & early success Our Dedica
Slide 6: Section II: Carver Overview and Turnaround Underway
Section II Carver Overview and Turnaround Underway 6
Slide 7: Stable foundation for forward progress
Stabile foundation for forward progress 7 Carver Overview and Turnaround Overview: Carver Bancorp, Inc. (NASDAQ: CARV) Headquarters: Harlem, NYC Employees: ~105 Founded: 1948 History: Founded with a mission of “providing local residents with a place to save, grow businesses and build wealth, block b
Slide 8: Industry expertise enhances execution
Industry expertise enhances execution 8 Carver Overview and Turnaround Today, Carver is conducting business, responding to competition, capitalizing on opportunities, and growing (gathering deposits and making loans) in a manner that was simply not previously possible. Achievements in the past 18 mo
Slide 9: Section III: Carver Strategy and Roadmap for Value and Impact Creation
Section III Carver Strategy and Roadmap for Value and Impact Creation 9
Slide 10: Forward planning for profitability
Forward planning for profitability 10 Carver Strategy and Roadmap Loans: Disciplined lending growth, e.g., syndicated loan purchases, targeted consumer loan conduit, for greater yield & diversification Deposits: Increasingly secure low-cost core deposits and diversify mix and stable balances NIM: Co
Slide 11: Delivering impact and value
Delivering impact and value 11 Carver Strategy and Roadmap • PPP: Carver was a financial first responder to small businesses that were impacted by the Covid-19 Pandemic o The Bank created a team to support small businesses with the Paycheck Protection Program, providing $50 million in loans to more
Slide 12: Section IV: Our Dedicated Board and Governance Driving Change
Section IV Our Dedicated Board and Governance Driving Change 12
Slide 13: Right plan needs key expertise, purpose-driven leaders
Right plan needs key expertise, purpose-driven leaders Dedicated Board Driving Change Audit / Compliance (2 separate cttees) Banking / Financial Services Comms / Branding / Marketing Community Development Compensation / HR Economic Development Finance / Investing / Asset & Liability Government, Publ
Slide 14: Our nominees are aligned to stakeholders
Based in NYC, Ms. Joseph is an accomplished transactional attorney with over 20 years in the complex real estate, finance, and asset management industry Ms. Joseph’s professional work is directly correlated to the work of Carver • Supports Nuveen Real Estate Debt with approximately $10 Billion of lo
Slide 15: Section V: Dream Chasers Poses Unacceptable Risk and No Viable Plan
Section V Dream Chasers Poses Unacceptable Risk and No Viable Plan 15
Slide 16: DC points are misguided & misleading
DC points are misguided & misleading Dream Chasers is NOT the answer ` DC Points Raised Facts • Carver Financial Health and Share Price over the last 10 Years • Context matters when evaluating historical information and forming definitive conclusions • DC applies a 10-year evaluation timeframe to th
Slide 17: Dream Chasers is NOT the answer
CEO of a small investment management fund who has a history of being fined and suspended by FINRA for making false statements to investors (CRD #2793976): • FINRA sanctions against Mr. Lewis and broker-dealer StockKings Capital LLC: $85K fine and 7-month suspension • FINRA asserted Mr. Lewis made un
Slide 18: Section VI: Conclusion
SX¥CARVER BANCORP, INC. Section VI Conclusion
Slide 19: Support Carver's Nominees & Turnaround
Support Carver’s Nominees & Turnaround 19 Conclusion Protect Your Investment and Carver’s Future : Vote on the WHITE proxy card FOR Carver’s slate of directors Jillian Joseph Kenneth Knuckles Recognizing that Carver was not in a position to succeed, our Board has proactively and effectively taken de
Slide 20: Thank You: Accelerating Our Progress
THANK YOU Accelerating Our Progress 20
Slide 21: Forward Looking Statements & Additional Information
Forward Looking Statements & Additional Information Forward-Looking Statements Certain statements in this communication may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Carver Bancorp, Inc.’s (the “
Slide 22: Forward Looking Statements & Additional Information, cont'd
Forward Looking Statements & Additional Information, cont’d Additional Information and Where to Find it 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’s 2024 Annual Me
Slide 23: New CEO Donald Felix managing through a proxy contest
Carver Bancorp's new CEO, Donald Felix, is managing through a proxy contest as he devises a plan to return the Black-operated bank to profitability. Carver Bancorp Donald Felix, who took the helm at Carver Bancorp as president and CEO on Nov. 1, is no stranger to troubled banks. Felix, 50, served as