Spurned last month in its attempt to buy Carver Bancorp, Boston Bank of Commerce is turning up the heat on the New York thrift company.

The offer for $420 million-asset Carver, the biggest black-owned banking company, has been raised to $29.7 million-nearly book value, the $106 million-asset Boston bank said. The original offer was never disclosed, but Carver, in rejecting it March 19, said it was well below book.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.