Carver Bancorp Appoints Jim Montes As President Of Carver Community Development Corporation

NEW YORK, May 2, 2019 /PRNewswire/ -- Carver Bancorp, Inc. (the "Company") CARV, the holding company for Carver Federal Savings Bank ("Carver" or the "Bank"), announced today the appointment of Jim Montes as President of Carver Community Development Corporation ("CCDC"). In his capacity as President of CCDC, Mr. Montes is responsible for fulfilling the Bank's mission to bring economic and community development to the diverse markets it serves. Since 2006, CCDC has allocated approximately $150 million in New Markets Tax Credits through its participation in more than a dozen projects in low-income communities in the Greater New York City region.

"Jim is a highly skilled legal and business professional who comes to Carver with a strong background in the financial services industry," said Michael T. Pugh, President and CEO of Carver Bancorp. "His experience as an attorney and banking professional makes him highly qualified to support Carver's commitment to community development while maintaining strong regulatory and corporate governance controls. We welcome him to our organization and look forward to his future contributions."

Before joining the Bank, Mr. Montes spent four years as Assistant Dean and Adjunct Professor of Law at Touro Law School. Prior to that, he was a partner with the global law firm of Nixon Peabody LLP where he practiced public and project finance. Mr. Montes has approximately 20-years of retail banking and commercial lending experience, including his previous role as a Commercial Banking Team Leader for Banco Popular, N.A.

"I am excited and honored to assist Carver in its long-standing commitment to serving low- to moderate-income communities throughout the New York City metropolitan area," said Jim Montes. "I look forward to working with the CCDC board and community leaders to help spur economic and community development in the neighborhoods in which Carver operates."

Mr. Montes is a graduate of Fordham University School of Law and received a BS in Finance from New York University. He is admitted to practice law in New York State. He is a member of the New York State Bar Association, the Association of Corporate Counsel and the Society of Corporate Secretaries & Governance Professionals. Throughout his career Mr. Montes has served as a member of various boards and committees, including NYC Bar Association – Committee on Recruitment and Retention of Lawyers, Long Island Hispanic Bar Association (Board Member), YMCA of Long Island (Board Member), SUNY Stony Brook President's Advisory Committee, and United Way of LI Allocations and Admissions Panel.

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 its local community. Carver is the largest African- and Caribbean-American managed bank in the United States, with eight 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.

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Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, risks and uncertainties. More information about these factors, risks and uncertainties is contained in our filings with the Securities and Exchange Commission.

Contacts:
Michael Herley/Emilee Hanson
Kekst CNC
(212) 521-4897/4805
michael.herley@kekstcnc.com 
emilee.hanson@kekstcnc.com 

SOURCE Carver Bancorp, Inc.