Carver Bancorp, Inc. Celebrates 65 Years of Community Banking by Ringing The NASDAQ Stock Market Closing Bell

NEW YORK, Aug. 21, 2014 (GLOBE NEWSWIRE) -- Carver Bancorp, Inc. (the "Company") CARV, the holding company for Carver Federal Savings Bank ("Carver" or the "Bank"), announced today that in recognition of its 65^th anniversary as a New York City community bank, it will ring The NASDAQ Stock Market Closing Bell in Times Square on Friday, August 22, 2014 at 4:00 pm EDT.

"Carver was founded more than 65-years ago with a mission to serve minorities in communities across New York City where mainstream banking options were not readily available," said Deborah C. Wright, Chairman and Chief Executive Officer of Carver Bancorp., Inc. "Carver has stayed true to its focus and built a successful community banking franchise, with ten branches located in Brooklyn, Manhattan and Queens. Recently, we have increased our strategic investments in new technology, products and services with the rollout of an enhanced online banking platform. We continue to attract new customers through our successful Carver Community Cash product line, which seeks to bring consumers without a traditional deposit-based relationship into the mainstream financial sector."

Ms. Wright concluded, "As we move forward, our team focus is on strengthening Carver's financial position and expanding our franchise, while staying true to our unwavering commitment to the communities we serve."

Ms. Wright will be joined by Michael T. Pugh, President and Chief Operating Officer, along with members of the management team and customers throughout Carver's franchise, to ring the Closing Bell.

About Carver Bancorp, Inc.

Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Carver was founded in 1948 to serve African-American communities whose residents, businesses, and institutions had limited access to mainstream financial services. Carver has been designated by the U.S. Treasury Department as a Community Development Financial Institution (CDFI) because of its community-focused banking services and dedication to the economic viability and revitalization of underserved neighborhoods. Carver is the largest African- and Caribbean-American run bank in the United States, with ten full-service branches in the New York City boroughs of Brooklyn, Manhattan, and Queens. For further information, please visit the Company's website at www.carverbank.com.