The Bank Slate


Investment fund boosts offer for big Carver Bancorp stake

Dream Chasers Capital, a New York-based minority-run investment fund, has raised its offer to buy a large stake in Carver Bancorp in New York.

The investment group said in a press release that it wants to buy a 35% stake in the $743 million-asset Carver for $3.25 a share. That amount is 8% higher than what the group offered in September and more than double the banking company’s current stock price.

Dream Chasers, which owns more than 5% of Carver’s stock, wants to bring in new management and “more smartly take advantage of the bank’s designation” as a minority depository institution (MDI).

Carver reported a net loss of $1.6 million in the quarter than ended Sept. 30.

Leave a Reply

Your email address will not be published. Required fields are marked *