Carver Bancorp, Inc. (CARV) will end its Nasdaq listing on December 5, 2025, and will begin trading on the OTCQX market under the symbol "CARV" on December 8, 2025. The company will file a Form 25 with Nasdaq on November 28 and a Form 15 with the SEC on or about December 8, after which deregistration will take effect roughly 90 days later.
The decision is driven by a desire to reduce the high costs of Nasdaq listing and SEC reporting, and to give the company greater flexibility to execute a three‑year strategic plan that was required by the Office of the Comptroller of the Currency in a June 2025 agreement. By moving to OTCQX, Carver will eliminate annual Nasdaq fees and the extensive regulatory reporting that accompanies a public listing, freeing capital for community‑focused initiatives and operational improvements.
President and CEO Donald Felix said the board’s choice "is in the best interests of the company and its stockholders. It will facilitate our ability to execute our strategic plan and also reduce our expenses." The move follows a board‑modernization effort that saw a significant turnover of directors and a realignment of compensation, underscoring the company’s commitment to governance and long‑term growth.
After deregistration, Carver will no longer file periodic SEC reports, but it will continue to provide audited financial statements on its website. The subsidiary, Carver Federal Savings Bank, will keep filing quarterly Call Reports with the OCC, and the company’s holding structure will remain unchanged.
Carver remains a Community Development Financial Institution that serves historically underserved communities in the New York City area. The transition to OTCQX does not alter its mission or its CDFI status; the company will continue to focus on community banking and financial inclusion while pursuing the cost efficiencies gained from the delisting.
The OTCQX market is a common venue for banks and offers a platform that aligns with Carver’s profile. While the move may reduce liquidity and institutional visibility, the company expects to maintain its operational stability and community‑banking focus, leveraging the cost savings to strengthen its strategic initiatives.
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