Carver State Bank
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | February 23, 1927 in Savannah, Georgia, United States |
| Founder | Louis B. Toomer |
| Headquarters | Savannah , United States |
Area served | Georgia, United States |
| Products | Commercial banking services, including checking accounts |
| Website | www |
Carver State Bank is a financial institution owned and operated by African Americans, established in 1927, and located in Georgia.
History
Based in Savannah, Carver State Bank was originally founded on February 23, 1927, by Louis B. Toomer, a native of Savannah, under the name Georgia Savings and Realty Corp. It transitioned to a state-chartered bank on April 29, 1947, obtaining FDIC insurance as of June 1, 1947, and was subsequently renamed Carver Savings Bank. In 1962, the institution evolved into a comprehensive commercial bank providing checking account services and adopted its present name, Carver State Bank.
The bank honors George Washington Carver through its name and should not be confused with Carver Federal Savings Bank based in New York. Recognized as one of roughly 1,000 Community Development Financial Institutions (CDFIs) certified by the government, Carver State Bank targets economically disadvantaged communities and qualifies for New Markets Tax Credits (NMTCs), reinforcing its commitment to fostering economic advancement and community revitalization.