New York's Carver Bancorp, the nation's largest minority-owned financial institution, is asking shareholders to vote against a disgruntled investor's proposal to sell the company.

Joseph Sonnenberg, a shareholder who owns less than 1% of Carver's stock, is pushing a nonbinding resolution that calls for Carver's sale. Mr. Sonnenberg said he's unhappy with the banking company's mediocre performance and stock price, which closed Monday at $11.88 a share. Stockholders will vote on his proposal at Carver's Aug. 21 annual meeting.

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