Carver Bancorp in New York was issued an enforcement action that requires its bank to create a three-year plan focused on earnings performance.
The company disclosed in a regulatory filing that Carver Federal Savings Bank entered into a written agreement with the Office of the Comptroller of the Currency that requires it to develop a strategic plan that focuses on measures for growth, capital, liquidity, and balance sheet mix.
The bank must also prepare an earnings program designed to “improve and sustain” its earnings.
“The bank’s board … and management are fully committed to, as expeditiously as possible, achieving sustainable earnings through a more robust and viable strategic plan, which are part of the bank’s new ongoing operations and actions under the leadership of its new” CEO, the filing said.