Carver Bancorp Inc.-Parent Company Only (Tables)

12 Months Ended

Mar. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Condensed Statements of Financial Condition

	As of March 31,
$ in thousands	2023		2022
Assets
Cash on deposit with subsidiaries	$	668	$	1,433
Investment in subsidiaries	62,453		70,646
Other assets	123		66
Total assets	$	63,244	$	72,145
Liabilities and Stockholders' Equity
Borrowings	$	15,903	$	15,903
Accounts payable to subsidiaries	1,475		499
Other liabilities	642		656
Total liabilities	18,020		17,058
Stockholders’ equity	45,224		55,087
Total liabilities and stockholders’ equity	$	63,244	$	72,145

Condensed Statements of Operations

	Years Ended March 31,
$ in thousands	2023		2022
Income
Equity in net loss/income from subsidiaries	$	(2,640)	$	706
Other income	27		17
Grant income	439		60
Total (loss) income	(2,174)		783
Expense
Interest expense on borrowings	839		481
Salaries and employee benefits	712		232
Shareholder expense	155		162
Other	521		755
Total expense	2,227		1,630
Net loss	$	(4,401)	$	(847)
Comprehensive loss	$	(9,954)	$	(4,334)

Condensed Statements of Cash Flow

	Years Ended March 31,
$ in thousands	2023		2022
Cash Flows From Operating Activities
Net loss	$	(4,401)	$	(847)
Adjustments to reconcile net loss to net cash from operating activities:
Equity in net loss/income from subsidiaries	2,640		(706)
Restricted stock vesting	91		122
Decrease in accounts receivable from subsidiaries	—		205
(Increase) decrease in other assets	(57)		92
Increase (decrease) in accounts payable to subsidiaries	976		(1,212)
Decrease in other liabilities	(14)		(2,593)
Net cash used in operating activities	(765)		(4,939)
Cash Flows From Investing Activities
Capital contribution	—		(15,500)
Net cash used in investing activities	—		(15,500)
Cash Flows From Financing Activities
Increase in borrowings	—		2,500
Issuance of common stock	—		2,998
Issuance of preferred stock	—		4,000
Net cash provided by financing activities	—		9,498
Net decrease in cash	(765)		(10,941)
Cash and cash equivalents – beginning	1,433		12,374
Cash and cash equivalents – ending	$	668	$	1,433