8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 26, 2005

CARVER BANCORP, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-21487	13-3904147
(State or Other Jurisdiction of Incorporation )	(Commission File Number)	(IRS Employer Identification No.)

75 West 125^th Street, New York, NY 10027-4512

(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (212) 876-4747

NOT APPLICABLE

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEMS 1, 2.01 AND 2.03 THROUGH 7. NOT APPLICABLE.

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 28, 2005, Carver Bancorp, Inc. (the “Company”) issued a press release reporting financial results for the quarter ended June 30, 2005. The full text of the press release is included in this Form 8-K as Exhibit 99.1.

The information provided pursuant to this Item 2.02 shall not be deemed incorporated by reference by any general statement incorporating by reference this Form 8-K into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, and shall not otherwise be deemed filed under such Acts.

ITEM 8.01 OTHER EVENTS.

On July 28, 2005, the Company issued a press release announcing that, on July 26, 2005, the Company’s Board of Directors declared an $0.08 per share dividend for the quarter ended June 30, 2005, a 14% increase from the previous quarter’s dividend. The dividend will be payable on August 19, 2005 to holders of record at the close of business on August 5, 2005. The full text of the press release is included in this Form 8-K as Exhibit 99.2.

The information provided pursuant to this Item 8.01 shall not be deemed incorporated by reference by any general statement incorporating by reference this Form 8-K into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, and shall not otherwise be deemed filed under such Acts.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(a) - (b) Not applicable.

(c)		Exhibits.
	The following Exhibits are filed as part of this report:

Exhibit 99.1     Press release dated July 28, 2005 reporting the Company’s financial results for the quarter ended June 30, 2005.

Exhibit 99.2      Press release dated July 28, 2005 which announced an $0.08 per share dividend for the quarter ended June 30, 2005.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CARVER BANCORP, INC.
By:	/s/ Deborah C. Wright
Name:	Deborah C. Wright
Title:	Chairman, President and Chief Executive Officer

Dated: July 29, 2005

EXHIBIT INDEX
Exhibit Number	Description
99.1	Press release dated July 28, 2005 reporting the Company’s financial results for the quarter ended June 30, 2005.
99.2	Press release dated July 28, 2005 which announced an $0.08 per share dividend for the quarter ended June 30, 2005.

EX-99.1

Annual Meeting of
Stockholders

The Studio Museum in Harlem

September 13, 2005

CHALLENGING YEAR FOR BANKING INDUSTRY AND FOR  
CARVER

BRIGHT SPOTS IN OPERATING RESULTS DESPITE
DISAPPOINTING FINANCIAL RESULTS

FY2005 ACHIEVEMENTS: BUILDING LONG-TERM
SHAREHOLDER VALUE

-- New Branch and 24/7 ATM Centers

-- New products

-- Additional Milestones

SUBSTANTIAL OPPORTUNITIES AHEAD

OVERVIEW

2

FY2005 earnings impacted by industry-wide issues:

-- Margin Compression

-- Reduced Prepayment Penalties

-- Delivery channel expansion

FY2005 earnings also impacted by:

--  Independence Federal merger

--  Management restructure

First quarter 2006 earnings reflect similar industry-wide trends

Net interest income reflects solid results in growing loans to replace lower
yielding securities and strong asset quality, in addition to growing deposits to
replace higher cost borrowings

Non-interest income stable despite slowdown on prepayments, as other loan and
deposit fees increase

REVIEW OF FINANCIAL AND OPERATIONAL RESULTS

3

Higher cost structure reflects investments to build long-term franchise
value. Management is aggressively working to develop cost saving
strategies, including outsourcing some core operations, to reduce the
Company’s efficiency ratio

Lower return on average assets and return on average equity

ratios reflect decline in profitability resulting from franchise investments
and one-time charges

These results are reflected in Carver’s stock price which trades at a
discount to peers

Nevertheless, as the Board of Directors is confident in our long-term
prospects, it increased first quarter 2006 dividend from $0.07 to $0.08
per share

REVIEW OF FINANCIAL AND OPERATIONAL RESULTS

4

$ In millions

$ In millions

NET INCOME

5

(fully diluted)

EARNINGS PER SHARE

6

$ In millions

7

$ In millions

8

$ In millions

9

$ In millions

10

11

$ In millions

$ In millions

FEE INCOME

12

13

RETURN ON AVERAGE EQUITY

14

STOCK PRICE March 2002 to September 12^th, 2005

Stock Price

Book Value per Share

Book value per share is calculated using fully diluted weighted average common shares outstanding.

15

Organic Growth

Increase penetration in core markets by expanding delivery channels

-- One New Branch

Harlem: 145^th Street at Frederick Douglass Blvd in the Pathmark Supermarket:

December 2005

--  New 24/7 ATM Centers

Manhattan: 116^th Street/5^th Avenue:  January 2005

Brooklyn: Fulton Street/Ralph Avenue: May 2005

Launched new products

Wealth Management

Custom mortgages for a broader range customers (income levels and credit
histories)

Expanded Free Checking to all branches

FY2005 Operational Achievements

16

145^th Street Branch: Ribbon Cutting

17

145^th Street Branch

18

145^th Street Branch: Inside Pathmark Supermarket

19

116^th /5^th Avenue 24/7 ATM Center

20

New York Times Harlem Week Ad

21

Fulton/Ralph 24/7 ATM Center: Ribbon Cutting

22

ADDITIONAL ACHIEVEMENTS

First Outstanding CRA rating in Carver’s history

Solid ratings by ISS/Glass Lewis, reflecting corporate
governance strength

$1.5 million CDFI grant from the Treasury Department,
based on strong growth in lending in the inner city

23

Launch broader range of consumer products and services to drive fee income

-- Expand product line for landlords, including lock box and more robust lease security
account

-- Overdraft lines of credit for preferred customers

Aggressively increase penetration of customer base in markets surrounding branches
recently built (Jamaica, Atlantic Terminal and 145^th Street)

       --   New “calling program” developed and execution begun

--   Continue grass roots advertising and outreach to support new products and

    delivery channel expansion

Continue to leverage public programs to enhance community and financial returns

-- Will soon open Carver Financial Literacy Center at Bradhurst Court

--  Have formed Carver Community Development Corporation to consolidate and   

             expand financial literacy and other community development efforts

Will review acquisition options to increase fee income and/or footprint

SUBSTANTIAL OPPORTUNITIES AHEAD

INITIATIVES FOR BUILDING SHAREHOLDER VALUE

24

“We Get It” Mortgage Products ad

25

“Stronger Together” Relationship Account ad

26

Lease Security Product

27

Annual Meeting of
Stockholders

The Studio Museum in Harlem

September 13, 2005