-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L19A8YB7Y+ECZkvNV7VkT8Sx6q30BUylz/J4iwVyTl5/0iacxGSM/qi1B1CjtITh UPNFGylEy62psWKnwvw/Jg== 0000950123-98-010060.txt : 19981118 0000950123-98-010060.hdr.sgml : 19981118 ACCESSION NUMBER: 0000950123-98-010060 CONFORMED SUBMISSION TYPE: NT 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980930 FILED AS OF DATE: 19981117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CARVER BANCORP INC CENTRAL INDEX KEY: 0001016178 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 133904174 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: NT 10-Q SEC ACT: SEC FILE NUMBER: 001-13007 FILM NUMBER: 98754035 BUSINESS ADDRESS: STREET 1: 75 W 125TH ST CITY: NEW YORK STATE: NY ZIP: 10027-4512 BUSINESS PHONE: 2128764747 MAIL ADDRESS: STREET 1: 75 W 125TH ST CITY: NEW YORK STATE: NY ZIP: 10027-4512 NT 10-Q 1 CARVER BANCORP, INC. 1 UNITED STATES SEC File Number SECURITIES AND EXCHANGE COMMISSION 0-21487 Washington, D.C. 20549 Cusip Number FORM 12b-25 146875 NOTIFICATION OF LATE FILING (Check One) __ Form 10-K __ Form 20-F __ Form 11-K X Form 10-Q __ Form N-SAR For Period Ended: September 30, 1998 [ ] Transition Report on Form 10-K [ ] Transition Report on Form 20-F [ ] Transition Report on Form 11-K [ ] Transition Report on Form 10-Q [ ] Transition Report on Form N-SAR For the Transition Period Ended:____________________________ READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM. PLEASE PRINT OR TYPE Nothing in the form shall be construed to imply that the Commission has verified any information contained herein. - -------------------------------------------------------------------------------- If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: - -------------------------------------------------------------------------------- PART I - REGISTRANT INFORMATION CARVER BANCORP, INC. - -------------------------------------------------------------------------------- Full Name of Registrant N/A - -------------------------------------------------------------------------------- Former Name if Applicable 75 west 125th Street - -------------------------------------------------------------------------------- Address of Principal Executive Office (STREET AND NUMBER) New York, New York 10027 - -------------------------------------------------------------------------------- City, State and Zip Code PART II - RULES 12b-25(b) and (c) If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check appropriate box) X (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; X (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and __ (c) The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. PART III - NARRATIVE State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q, N-SAR, or the transition report or portion thereof, could not be filed with the prescribed time period. (Attach Extra Sheets if Needed) During the reporting period, the Company experienced a shortage of personnel in the finance and accounting department, and in particular, in the position of controller. This shortage of personnel effecrted the Company's ability to prepare the Form 10-Q filing in a timely fashion. The Company recently filled the vacancy in the office of controller and is expanding its accounting staff. As a result of the foregoing circumstances and in the interest of full and accurate disclosure to the Commission and to current stockholders and to avoid incurring unreasonable effort or expanse, the Registrant requires additional time to prepare its Form 10-Q filing. The Registrant anticipates that the filing will be made as required under Rule 12b-25(b)(2)(ii). 2 PART IV - OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification Raymond L. Bruce (212) 876-4747 -------------------------- ----------- ------------------ (Name) (Area Code) (Telephone Number) (2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such reports been filed? If answer is no identify report(s). X Yes __ No (3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? X Yes __ No If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. Attached are the Company's results of operations for the three and six month periods ended September 30, 1997 and September 30, 1998. - -------------------------------------------------------------------------------- CARVER BANCORP, INC. ------------------------------------------------------ (Name of Registrant as Specified in Charter) has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 16, 1998 By: /s/ RAYMOND L. BRUCE ------------------ ---------------------------------------- Name: Raymond L. Bruce Title: Senior Vice President, Corporate Counsel and Corporate Secretary INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the persons signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form. ATTENTION Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001). GENERAL INSTRUCTION 1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities Exchange Act of 1934. 2. One signed original and four conformed copies of this form and amendments thereto must be completed and filed with the Securities and Exchange Commission, Washington, D.C. 20549 in accordance with Rule 0-3 of the General Rules and Regulations under the Act. The information contained in or filed with the form will be made a matter of public record in the Commission files. 3. A manually signed copy of the form and amendments thereto shall be filed with each national securities exchange on which any class of securities of the registrant is registered. 4. Amendments to the notifications must also be filed on form 12b-25 but need not restate information that has been correctly furnished. The form shall be clearly identified as an amendment notification. 5. ELECTRONIC FILERS. This form shall not be used by electronic filers unable to timely file a report solely due to electronic difficulties. Filers unable to submit a report within the time period prescribed due to difficulties in electronic filing should comply with either Rule 201 or Rule 202 of Regulation S-T (Section 232.201 or Section 232.202 of this chapter) or apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T (Section 232.12(c) of this chapter). 3 CARVER BANCORP, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
THREE MONTHS ENDED SIX MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 1998 1997 1998 1997 ---------- ---------- ----------- ----------- Interest Income Loan receivable...................................... $5,205,367 $4,532,374 $10,559,623 $ 8,902,151 Mortgage-backed securities........................... 1,338,548 2,190,048 3,185,114 4,415,676 Debt and equity securities........................... 0 401,073 0 535,666 Other interest earning assets........................ 457,149 22,877 841,210 89,753 ---------- ---------- ----------- ----------- Total interest income........................... 7,001,064 7,146,372 14,585,947 13,943,246 ========== ========== =========== =========== Interest expense Deposits............................................. 2,070,885 2,171,630 4,212,653 4,294,289 Advances and other borrowed money.................... 1,562,363 1,655,906 3,307,768 3,353,483 ---------- ---------- ----------- ----------- Total interest expense.......................... 3,633,248 3,827,536 7,520,421 7,647,772 ---------- ---------- ----------- ----------- Net interest income....................................... 3,367,816 3,318,836 7,065,526 6,295,474 ---------- ---------- ----------- ----------- Provisions for loan losses................................ 299,985 170,837 750,000 338,193 ---------- ---------- ----------- ----------- Net int. income after provision for loan loss............. 3,067,831 3,147,999 6,315,526 5,957,281 ---------- ---------- ----------- ----------- Non-interest income Loan fees and service charges........................ 60,916 28,970 109,111 66,186 Gain or (loss) on sale of securities................. 4,941 0 4,941 0 Other income......................................... 506,509 323,781 1,032,982 602,927 ---------- ---------- ----------- ----------- Total non-interest income....................... 572,366 352,751 1,147,034 669,113 ---------- ---------- ----------- ----------- Non-interest expense Salaries and benefits................................ 1,363,524 1,169,043 2,603,768 2,277,038 Net Occupancy........................................ 305,986 289,986 593,962 542,425 Equipment............................................ 322,415 303,200 596,247 542,350 Loss on foreclosure RE............................... 6,584 0 10,748 Advertising.......................................... 40,911 59,375 77,149 118,750 FDIC................................................. 42,133 41,503 107,441 41,503 Amortization of intangibles.......................... 51,357 53,268 99,570 106,536 Legal expense........................................ 40,825 60,000 100,875 115,000 Bank charges......................................... 95,705 68,747 184,532 195,339 Security service..................................... 127,142 87,543 191,338 142,118 Other................................................ 946,777 762,983 2,050,739 1,371,783 ---------- ---------- ----------- ----------- Total non-interest expense...................... 3,336,775 2,902,232 6,605,621 5,463,590 ---------- ---------- ----------- ----------- Income (Loss) before taxes................................ 303,422 598,518 856,939 1,162,804 ---------- ---------- ----------- ----------- Income taxes (Benefit).................................... 110,211 269,100 345,676 523,261 ---------- ---------- ----------- ----------- Net income (Loss)......................................... $ 193,211 $ 329,418 $ 511,263 $ 639,543 ========== ========== =========== =========== Net income (Loss) per common share........................ $ 0.09 $ 0.15 $ 0.23 $ 0.29 ========== ========== =========== =========== Weighted average number of common share outstanding....... $2,203,562 $2,185,348 $ 2,201,306 $ 2,183,092 ========== ========== =========== ===========
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