Carver Federal Savings Bank, the nation's largest black-owned thrift whose stock has been hammered ever since it went public in October, has named Thomas L. Clark Jr. president and chief executive.
Mr. Clark, who is deputy superintendent of banks for New York State, will begin the job on Feb. 1. He succeeds Richard T. Greene, who has been president and chief executive officer of the $333 million-asset company for 25 years. Mr. Greene, 83, will become chairman, and M. Moran Weston, Carver's current chairman, will become vice chairman.
Carver gained widespread attention in October when its stock fell sharply following its initial public offering. Last Tuesday it was trading at $6.38 a share, down from the initial offering price of $10 a share.
Carver also has been a mediocre earner. Net income for its 1995 fiscal second quarter, ended Sept. 30, rose to $143,000 from $42,350 a year ago. For the six months it earned $440,178, compared with $735,287 in the comparable 1994 period.
"This is a great opportunity for me to be joining Carver as its chief executive officer," said Mr. Clark in an interview. "While my major plans are not in place, I do look forward to expanding the bank and moving it to the next level. Niche banking is the way to go, and Carver has a loyal customer base. It is the true community development bank."
Mr. Greene said the company is "passing the mantel of leadership of this institution to a younger generation of African-Americans who have a commitment to their peers as strong as ours."
Mr. Clark, 51, began his banking career as assistant treasurer of the Buffalo Savings Bank. He joined the bank in 1970 as a management trainee after serving two years with the New York State Narcotic Addiction Control Commission.
He joined the New York State Banking Department in 1976 as deputy superintendent in charge of the consumer affairs division. Three years later, he was appointed by the department to lead the rehabilitation of the Municipal Credit Union of New York, one of the country's largest credit unions. For 16 months he managed the successful rehabilitation of the group, and in 1986 he oversaw the merger of the troubled Hyfin Credit Union into the Municipal Credit Union of New York.