Carver State Bank

Carver State Bank is a Black-operated 1927-founded bank that operates in Georgia.[1]

History

The multi-branch[2][3][4] banks's headquarters are in Savannah[5] It was founded February 23, 1927[6] by Savannah-born Louis B. Toomer as Georgia Savings and Realty Corp.[7]

On April 29, 1947[8] it became a state-supervised bank (with FDIC-insured effective June 1, 1947)[3]), and their name was changed to Carver Savings Bank." In 1962, when Carver "Carver became a full-service commercial bank offering checking accounts"[9] it assumed its present name: Carver State Bank.[7] Like Carver Federal Savings Bank, to which it is not connected, it is named after George Washington Carver. Carver, like New York-based Carver Federal Savings Bank,[10] "is among the roughly 1,000 government-recognized Community Development Financial Institutions dedicated to economically underserved areas."[1] As a CDFI, Carver is eligible for New Market Tax Credits.[1] [11][12]

References
  1. Will Lambe; Chis Thayer (2018). "Access to Capital for Entrepreneurs and Carver State Bank Case Study: A case study from the Federal Reserve Bank of Atlanta". Federal Reserve Bank of Richmond. Retrieved December 14, 2020.
  2. "Carver State Bank".
  3. "Carver State Bank". Became FDIC Insured: June 1, 1947
  4. Skidaway Road Branch: 7110 Skidaway Road, Savannah, GA
  5. "Chatham County Assessor Refuses to Pay His Taxes". Wall Street Journal (WSJ). August 21, 1996. at Carver State Bank in Savannah
  6. "A Salute To Carver State Bank". Savannah Tribune. February 22, 2017.
  7. Brittini Ray (June 7, 2018). "Savannah honors legacy of Carver State Bank founder". Savannah Morning News (SavannahNow.com).
  8. "Carver State Bank".
  9. Vaugnette Goode-Walker (February 24, 2016). "Carver State Bank Operated On West Broad Street". Savannah Tribune.
  10. Katherine Waldock (September 21, 2020). "How Can You Be an Ally? Go to a Black-Owned Bank". The New York Times.
  11. "Robert James II". National Bankers Association. $30 million allocation of New Markets Tax Credits
  12. (NMTCs)
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