Carver State Bank is a Black-operated 1927-founded bank that operates in Georgia. [1]
The multi-branch [2] [3] [4] banks's headquarters are in Savannah. [5] It was founded February 23, 1927, [6] by Savannah-born Louis B. Toomer as Georgia Savings and Realty Corp. [7]
On April 29, 1947 [8] it became a state-supervised bank (with FDIC-insured effective June 1, 1947) [3]), and their name was changed to Carver Savings Bank. In 1962, when "Carver became a full-service commercial bank offering checking accounts" [9] it assumed its present name: Carver State Bank. [7] Like Carver Federal Savings Bank, to which it is not connected, it is named after George Washington Carver. Carver, like New York-based Carver Federal Savings Bank, [10] "is among the roughly 1,000 government-recognized Community Development Financial Institutions dedicated to economically underserved areas." [1] As a CDFI, Carver is eligible for New Market Tax Credits. [1] [11] [12]
Became FDIC Insured: June 1, 1947
at Carver State Bank in Savannah
$30 million allocation of New Markets Tax Credits