(b) On February 27, 2020, Robert R. Tarter, Chairman of the Boards of Directors of Carver Bancorp, Inc. (“Company”) and Carver Federal Savings Bank (“Bank”), retired from his positions with the Company and the Bank, effective March 31, 2020. There were no disagreements between Mr. Tarter and the Company or the Bank. The Boards of Directors of the Company and the Bank each appointed Lewis P. Jones III as Chairman, effective April 1, 2020.

Item 9.01 Financial Statements and Exhibits

About CARVER BANCORP, INC. (NASDAQ:CARV)

Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank (Carver Federal or the Bank), a federally chartered savings bank. The Company conducts business as a unitary savings and loan holding company, and the business of the Company consists of the operation of its subsidiary, Carver Federal. Carver Federal serves African-American communities whose residents, businesses and institutions had limited access to mainstream financial services. It engages in a range of consumer and commercial banking services. It provides deposit products, such as demand, savings and time deposits for consumers, businesses, and governmental and quasi-governmental agencies in its market area within New York City. It offers other consumer and commercial banking products and services, such as debit cards, online banking, online bill pay and telephone banking. It also offers a suite of products and services for unbanked and underbanked consumers, branded as Carver Community Cash.