Carver Bancorp Inc. in New York said Friday that a goodwill impairment charge and a higher loss provision had caused it to swing to a loss of $6.5 million, or $2.63 a share, in its fiscal third quarter, which ended Dec. 31. It earned $1.6 million, or 62 cents a share, a year earlier.
The $790 million-asset Carver said it took a noncash charge of $6.4 million to reflect goodwill impairment on its 2006 purchase of Community Capital Bank. The loan-loss provision grew 94% from a year earlier, to $431,000, as nonperforming assets rose to $14.3 million, or 1.81% of total assets. The company did not publish the total of nonperformers from a year earlier in its press release but said they had totaled $4 million, or 0.5%, at March 31, the end of its previous fiscal year. Carver also said it had to restate its results for fiscal year 2007. It cut the previously reported earnings per share for that year by 19 cents, to 81 cents.
