Carver Bancorp Inc. announced Monday that the Office of Thrift Supervision has rejected its application to acquire the $195 million-asset Independence Federal Savings Bank in Washington.
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The $554 million-asset Carver said in a press release that the OTS cited concerns about its capitalization and profitability after the deal.
In March the New York company said it would pay $33 million in cash for Independence. The acquisition would have been the first in Carver's 55-year history.
