Operating cash flow remains under pressure, evidenced by the bank's decision to issue $1.0 million in long-term debt during 2026Q2 to manage liquidity requirements.
| Metric | TTM | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 | Mar'02 | Mar'01 | Mar'00 | Mar'99 | Mar'98 | Mar'97 | Mar'96 |
|---|
| Cash from Operations | -9.05M | -12.61M | -6.57M | -10.51M | 7.15M | 2.21M | -31K | -8.77M | -4.99M | 827K | 420K | 3.62M | 15.55M | 20.34M | 31.53M | 4.31M | 1.47M | 11.76M | -26.62M | -13.68M | 7.16M | -4.49M | 16.95M | -1.05M | 8.9M | 2.6M | 5.04M | 8.2M | 8.3M | 100K | 4.7M |
| Operating CF Growth % | -110.4% | -91.89% | 37.5% | -246.99% | 223.33% | 7235.48% | 99.65% | -75.83% | -702.78% | 96.9% | -88.39% | -76.73% | -23.57% | -35.48% | 632.02% | 193.39% | -87.51% | 144.16% | -94.59% | -290.98% | 259.64% | -126.46% | 1720.94% | -111.75% | 242.37% | -48.36% | -38.57% | -1.2% | 8200% | -97.87% | -17.54% |
| Net Income | -13.03M | -13.74M | -2.98M | -4.4M | -847K | -3.9M | -5.42M | -5.94M | 5.35M | -2.85M | -1.77M | -272K | -836K | 662K | -23.41M | -39.53M | -1.02M | -7.02M | 3.98M | 2.58M | 3.77M | 2.65M | 4.84M | 3.83M | 4.71M | -389K | -1.14M | -4.5M | 1M | -1.7M | 800K |
| Depreciation & Amortization | 924K | 813K | 965K | 1.06M | 1.03M | 1.02M | 965K | 793K | 897K | 867K | 1.42M | 1.05M | 1.08M | 1.13M | 1.45M | 1.66M | 2.53M | 1.93M | 1.46M | 436K | 2.41M | 2.92M | 3.17M | 1.92M | 1.99M | 1.36M | 1.79M | 2.4M | 1.3M | 2M | 1.2M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100K | -400K | -400K |
| Other Non-Cash Items | 568K | 1.62M | 567K | 188K | 877K | -142K | 1.24M | 9K | -8.76M | 478K | 196K | -3.21M | 16.38M | 18.74M | 50.12M | 27.18M | 8.56M | 11.34M | -260K | 1.94M | -118K | 1.53M | 33K | 206K | -1.26M | 552K | 711.97K | 4.3M | 2.9M | 2.8M | 2.3M |
| Working Capital Changes | 2.47M | -1.36M | -5.35M | -7.45M | 5.97M | 5.2M | 3.23M | -3.67M | -2.48M | 2.33M | 574K | 6.05M | -1.08M | -196K | 3.31M | 655K | -8.63M | 5.43M | -31.8M | -18.64M | 1.1M | -11.6M | 8.91M | -7M | 3.46M | 1.08M | 3.67M | 6M | 3M | -2.6M | 800K |
| Cash from Investing | 30.99M | 15.08M | -20.05M | -15.26M | -79.08M | -76.98M | 15.72M | 29.12M | 84.15M | 41.24M | -52.04M | -106.58M | -5.29M | -3.48M | 62.34M | 55.64M | 9.17M | -48.68M | -18.07M | 88.65M | -31.04M | -86.8M | -38.17M | -65.79M | -21.99M | 1.8M | -7.9M | 19.5M | -8.6M | -62.7M | -6.5M |
| Purchase of Investments | 0 | 0 | -603K | 0 | 0 | -74.47M | 0 | -58.13M | -7.79M | -30.76M | -5.27M | -28.2M | -35.18M | -75.94M | -54.34M | -88.64M | -23.66M | -200.57M | -15.27M | 0 | -26.83M | -83.77M | -78.34M | -96.93M | -134.72M | -166.23M | -485M | -331.9M | -19.1M | -60M | 0 |
| Sale/Maturity of Investments | 3.81M | 4.31M | 5.34M | 10.74M | 17.3M | 52.63M | 15.89M | 39.87M | 6.35M | 27.74M | 46.47M | 17.09M | 56.7M | 47.52M | 30.35M | 73.73M | 42.91M | 10.13M | 46.89M | 93.05M | 67.53M | 70.67M | 102.49M | 35.28M | 120.26M | 183.33M | 477.21M | 348.7M | 88.5M | 116M | 35.7M |
| Net Investment Activity | 3.81M | 4.31M | 4.73M | 10.74M | 17.3M | -21.84M | 15.89M | -18.26M | -1.44M | -3.02M | 41.2M | -11.11M | 21.52M | -28.41M | -24M | -14.92M | 19.25M | -190.44M | 31.63M | 93.05M | 40.7M | -13.1M | 24.15M | -61.65M | -14.46M | 17.1M | -7.79M | 16.8M | 69.4M | 56M | 35.7M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.55M | 0 | -2.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 27.25M | 11.1M | -24.43M | -25.78M | -96.19M | -54.89M | 1.12M | 50.26M | 87.19M | 44.52M | -92.66M | -95.18M | -26.5M | 25.15M | 86.48M | 71.06M | -10.08M | 145.7M | -46.83M | -517K | -70.67M | -70.3M | -59.54M | -2.97M | -6.36M | -14.7M | 404.32K | 4.4M | -77.1M | -116.6M | -36.3M |
| Cash from Financing | -35.74M | -11.18M | 43.1M | 7.31M | 57.35M | 102.82M | 619K | -123.69M | -3.29M | -46.56M | 63.98M | 31.39M | 7.65M | -3.91M | -46.25M | -54.21M | 14.36M | 22.9M | 54.71M | -80.52M | 26.36M | 88.93M | 20.82M | 55.14M | 16.18M | 5.16M | 3.74M | -21.6M | 11.2M | 56.9M | -300K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -364K | 712K | -1.94M | -1.06M | -975K | -883K | -782K | -793K | -659K | -313K | -312K | -298K | -106.18K | -100K | -100K | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -2.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -68K | -159K | 0 | -321K | 0 | -1.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 195K | 195K | 1M | 0 | 3M | 3.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51.43M | 0 | 0 | 18.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | 195K | 195K | 1M | 0 | 3M | 697K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51.43M | 0 | -68K | 18.82M | 0 | -321K | 0 | -1.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | 1000K | -1000K |
| Other Financing | -25.22M | 14.84M | 46.57M | -27.69M | 71.56M | 70.24M | 8.62M | -106.69M | 7.71M | -27.57M | 78.98M | 18.39M | 13.65M | -36.88M | -28.1M | -35.9M | -167K | -32.27M | 58.54M | -33.66M | 48.77M | 79.79M | 39.24M | 22.21M | 46.52M | -1.5M | 4.94M | 1.4M | 8.3M | 9.8M | 8.2M |
| Net Change in Cash | -13.8M | -8.71M | 16.47M | -18.47M | -14.57M | 28.05M | 16.31M | -103.33M | 75.87M | -4.5M | 12.36M | -71.56M | 17.91M | 12.95M | 47.62M | 5.73M | 25M | -14.03M | 10.02M | -5.55M | 2.48M | -2.35M | -386K | -11.69M | 3.09M | 9.56M | 881.75K | 6.2M | 10.9M | -10M | -11.8M |
| Exchange Rate Effect | -356K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 43.84M | 59.02M | 42.55M | 61.02M | 75.59M | 47.54M | 31.23M | 134.56M | 58.69M | 63.19M | 50.99M | 122.55M | 104.65M | 91.7M | 44.08M | 38.35M | 13.34M | 27.37M | 17.35M | 22.9M | 20.42M | 22.77M | 23.16M | 34.85M | 31.76M | 22.2M | 21.32M | 15.1M | 4.2M | 10M | 11.8M |
| Cash at End | 40.75M | 50.31M | 59.02M | 42.55M | 61.02M | 75.59M | 47.54M | 31.23M | 134.56M | 58.69M | 63.66M | 50.99M | 122.55M | 104.65M | 91.7M | 44.08M | 38.35M | 13.34M | 27.37M | 17.35M | 22.9M | 20.42M | 22.77M | 23.16M | 34.85M | 31.76M | 22.2M | 21.3M | 15.1M | 66.9M | 9.7M |
| Interest Paid | -919K | 15.21M | 10.71M | 4.62M | 5.52M | 3.9M | 4.87M | 5.3M | 4.58M | 6.86M | 4.08M | 3.47M | 3.58M | 4.46M | 8.45M | 9.5M | 13.76M | 16.11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | -17K | 222K | 232K | 193K | 211K | 57K | 53K | 123K | 225K | 134K | 217K | 161K | 130K | 69K | 708K | 1.22M | 120K | 297K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -9.12M | -12.94M | -6.93M | -10.74M | 6.96M | 1.96M | -1.32M | -11.64M | -6.59M | 565K | -154K | 3.33M | 15.24M | 20.12M | 31.38M | 3.81M | 1.47M | 10.37M | -29.48M | -15.14M | 6.08M | -7.89M | 14.18M | -2.21M | 7.73M | 1.99M | 4.53M | 6.5M | 7.4M | -2M | -1.2M |
| FCF Growth % | -69.28% | -86.7% | 35.45% | -254.28% | 255.83% | 248.52% | 88.69% | -76.79% | -1265.84% | 466.88% | -104.63% | -78.16% | -24.26% | -35.88% | 724.81% | 159.2% | -85.84% | 135.16% | -94.66% | -349.05% | 177.11% | -155.63% | 740.87% | -128.6% | 288.4% | -56% | -30.38% | -12.16% | 470% | -66.67% | -129.27% |
Liquidity and Capital Adequacy
According to quarterly financial data, Carver Bancorp has reported negative net income in eight of the last ten quarters, with a net loss of $2.4 million in 2026Q2, indicating that the bank is currently unable to generate organic capital to support its regulatory requirements.
The consistent inability to generate positive net income suggests that the bank's core operations are not self-sustaining. Investors should monitor whether the reliance on external capital infusions remains a permanent feature of the bank's capital structure rather than a temporary bridge.
As reported in recent SEC filings, Carver Bancorp has consistently sold investment securities over the last ten quarters, including $556,000 in 2026Q2, suggesting that the bank is liquidating its portfolio to offset operating cash outflows rather than reinvesting for long-term yield enhancement.
The absence of new investment purchases across the observed period implies a strategy focused on immediate liquidity preservation. This trend warrants further investigation into the remaining duration and quality of the securities portfolio as the bank continues to shrink its earning asset base.
Based on the provided cash flow statements, Carver Bancorp has frequently utilized long-term debt issuances, such as the $1.0 million recorded in 2026Q2, to manage its liquidity position, highlighting a reliance on wholesale funding to compensate for negative operating cash flows and loan portfolio stagnation.
The recurring pattern of debt issuance suggests that the bank's internal cash generation is insufficient to cover its operational and lending activities. This reliance on external debt may indicate heightened sensitivity to interest rate fluctuations and potential constraints on future borrowing capacity.
As indicated by the bank's reported figures, the provision for credit losses has fluctuated significantly, reaching a peak expense of $461,000 in 2025Q2, which suggests that management's assessment of credit risk remains highly sensitive to the evolving conditions of the New York commercial real estate market.
The lack of a consistent provisioning trend may imply that the bank is struggling to accurately forecast potential losses within its concentrated loan book. Analysts should monitor whether these provisions are sufficient to cover potential asset quality deterioration in the current urban economic environment.
Quick answers to the most common questions about buying CARV stock.
Carver Bancorp, Inc. (CARV) generated $-12.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Carver Bancorp, Inc. (CARV) reported negative free cash flow of $12.9M in 2025, indicating capital requirements exceeded cash from operations.
Carver Bancorp, Inc. (CARV) spent $0.3M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.