Carver Bancorp, Inc. Announces Intention to List on OTCQX, Voluntarily Delist from Nasdaq and Deregister from SEC
Rhea-AI Summary
Carver Bancorp (NASDAQ: CARV) announced it will voluntarily delist from Nasdaq and deregister its common stock with the SEC, and intends to list on OTCQX under the symbol CARV.
The company plans to file Form 25 on or about Nov 28, 2025, expects the last Nasdaq trading day on or about Dec 5, 2025, and expects OTCQX quotation beginning on or about Dec 8, 2025. The company also intends to file Form 15 on or about Dec 8, 2025; SEC periodic reporting will be suspended immediately on filing and will terminate when deregistration becomes effective 90 days after Form 15 is filed.
The company said the move will reduce recurring operating expenses, provide greater flexibility to pursue strategic initiatives, and that it will continue to provide an annual audited report and post quarterly interim information on its website; Call Reports will continue to be filed with the OCC.
Positive
- Expect OTCQX quotation beginning on or about Dec 8, 2025
- Plans to file Form 15 on or about Dec 8, 2025, suspending SEC periodic reports immediately
- Company states move will reduce recurring operating expenses
Negative
- Last Nasdaq trading day expected on or about Dec 5, 2025, ending Nasdaq listing
- SEC periodic reporting (Forms 10-K/10-Q/8-K) will be suspended immediately on Form 15 filing and terminate 90 days after filing
- Potential reduced regulatory disclosure via SEC filings after deregistration
News Market Reaction
On the day this news was published, CARV declined 4.29%, reflecting a moderate negative market reaction. Argus tracked a trough of -51.7% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $713K from the company's valuation, bringing the market cap to $16M at that time. Trading volume was exceptionally heavy at 12.2x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
- Provides greater flexibility to pursue initiatives that support creating an enduring brand, long-term growth, and enhanced capital
- Better aligns with Carver's profile as Carver joins the more than 300 banks that currently trade on the OTC Markets
- Reduces recurring operating expenses while maintaining financial disclosure integrity
The Company has notified Nasdaq of its intent to voluntarily delist and withdraw the registration of its common stock with the SEC. The Company intends to file a Form 25 (Notification of Removal from Listing) with the SEC on or about November 28, 2025 and expects the last trading day on Nasdaq will be on or about December 5, 2025. Following delisting from Nasdaq, the Company expects its common stock will be quoted on the OTCQX Market beginning on or about December 8, 2025, under the symbol "CARV".
The Company also intends to file a Form 15 (Certification and Notice of Termination From Registration) with the SEC on or about December 8, 2025. Upon filing, the Company's obligation to file periodic reports with the SEC, including Forms 10-K, 10-Q and 8-K, will be suspended immediately and will terminate when deregistration becomes effective 90 days after the Form 15 is filed.
"After careful consideration, the Board of Directors has determined that this course of action is in the best interests of the Company and its stockholders. Among other reasons, it will facilitate the Company's ability to execute our strategic plan and also reduce our expenses. The Company's financial and other metrics fit in well as an OTC traded company, and the OTC provides the Company with greater flexibility to pursue initiatives that support creating an enduring brand, long-term growth, and enhanced capital," said Company President and Chief Executive Officer, Donald Felix.
The Company will continue to provide stockholders with an annual report containing audited consolidated financial statements, and anticipates that quarterly interim financial information will be made available on the Company's website at www.carverbank.com. Carver Federal Savings Bank will also continue to file quarterly Call Reports with the Office of the Comptroller of the Currency, which are available at www.occ.gov.
About Carver Bancorp, Inc.
Carver Bancorp, Inc. (NASDAQ: CARV) is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Headquartered in
Forward-Looking Statements
This release may contain certain "forward-looking statements" that represent the Company's current expectations or beliefs concerning future events. Forward-looking statements can be identified by the use of words such as "estimate," "project," "believe," "intend," "anticipate," "assume," "plan," "seek," "expect," "will," "may," "should," "indicate," "would," "believe," "contemplate," "continue," "target" and words of similar meaning. Forward-looking statements are, by their nature, subject to numerous risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include changes in general economic conditions, changes in the interest rate environment, changes in prevailing depository institution stock prices, the evolution of the depository institution merger market, the Company's ability to terminate or the timing of the termination of its obligation to file periodic reports with the SEC as described above, the Company's ability to have its common stock quoted or the timing of its common stock becoming quoted on the OTCQX Market as described above, market reactions to the Company's delisting and deregistration, changes to the Company's strategic plan, legislative and regulatory changes that adversely affect the business of the Company and the Bank, and changes in the securities markets. Because of the risks and uncertainties inherent in forward-looking statements, readers are cautioned not to place undue reliance on them, whether included in this news release or made elsewhere from time to time by the Company or on its behalf. The Company disclaims any obligation to update such forward-looking statements.
Investor Contact:
investorrelations@carverbank.com
Media Contact:
CarverBancorp@Longacresquare.com
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SOURCE Carver Bancorp, Inc.
FAQ
When will CARV stop trading on Nasdaq and start trading on OTCQX?
What SEC filings will Carver make related to the delisting of CARV?
How will the Form 15 filing affect CARV shareholder disclosures?
Will CARV continue to publish financial information after leaving Nasdaq?
Will Carver still file regulatory reports after CARV deregisters?
