Carver State Bank

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Carver State Bank
Formerly
  • Georgia Savings and Realty Corp (1927–1947)
  • Carver Savings Bank (1947–1962)
  • Carver State Bank (1962)
Industry Financial services
Founded23 February 1927;98 years ago (1927-02-23)
(Georgia Savings and Realty Corp)
FounderLouis B. Toomer
Headquarters Savannah,
Georgia
Products Banking

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

Contents

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 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. 1 2 3 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. 1 2 "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. 1 2 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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