Carver Federal Savings, New York’s last Black bank and a Reddit favorite, is taking advantage of its surge in popularity. It plans to sell up to $20 million worth of shares.
It would be the fifth time the bank has raised money since becoming a hit with those looking for ways to support Black enterprises in the wake of the murder of George Floyd by a Minneapolis police officer. Harlem-based Carver said Tuesday it will use the proceeds to originate loans and pay down debt.
Carver was ignored by most of the financial community, and its stock seldom changed hands, until it started getting championed on WallStreetBets, the
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