Carver Bancorp Inc. in New York is trying to raise its capital levels after receiving a cease-and-desist order from its regulator.
Carver said Thursday that the Office of Thrift Supervision also issued an order against Carver Federal Savings Bank. The company and bank must implement "enhanced capital and asset quality measures," Carver said in a press release.
Deborah Wright, the $754.8 million-asset company's chairman and chief executive, said it is working with an independent adviser on capital options that will address issues with asset quality.
The bank, which remains well capitalized, must raise its Tier 1 capital ratio to 9% and total risk-based capital of 13% by April 30. At Sept. 30 the bank's Tier 1 ratio was 6.43% and its total risk-based capital ratio was 10.75%, a regulatory filing said.