SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): August 6, 2002
CARVER BANCORP, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-21487 13-3904174
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
75 WEST 125TH STREET
NEW YORK, NEW YORK 10027-4512
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (212) 876-4747
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NOT APPLICABLE
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(Former name or former address, if changed since 1st report)
ITEMS 1 THROUGH 4, 6, 8 AND 9. NOT APPLICABLE.
ITEM 5. OTHER EVENTS.
Carver Bancorp, Inc., a Delaware corporation ("Carver"), announced on
August 6, 2002 that its board of directors has approved a program (the "Stock
Repurchase Program") to repurchase up to ten percent (10%) of its issued and
outstanding shares of common stock, par value $0.01 per share, outstanding as of
May 31, 2002, depending on the market conditions, prudent capital management and
other factors.
Share repurchases under the Stock Repurchase Program will be made from
time to time and are expected to be effected through registered broker-dealers
on the open market, in block trades and in compliance with all applicable laws
and regulations. No timetable has been set for the repurchases. As of May 31,
2002, Carver had 2,316,358 shares of common stock outstanding.
Carver will use the repurchased shares to fund its stock-based benefit
and compensation plans as well as other purposes the board of directors deems
advisable in compliance with applicable law.
Forward-Looking Statements
Statements made herein concerning the new stock repurchase program are
forward-looking statements. Actual results could differ materially due to the
following risks and uncertainties: deteriorating economic conditions; market
volatility in the securities markets; legislative or regulatory developments;
and other risks and uncertainties discussed in Carver's reports filed from time
to time with the Securities and Exchange Commission. Carver cautions readers not
to place undue reliance on these statements. Carver undertakes no obligation to
publicly release or update any of these statements.
The press release issued by Carver on August 6, 2002 announcing the
Stock Repurchase Program is attached hereto as Exhibit 99.1 and is incorporated
herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
No financial statements are required to be filed as part of
this Report. The following exhibits are filed as part of this Report:
EXHIBIT NO. DESCRIPTION
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99.1 Press release, dated August 6, 2002
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
CARVER BANCORP, INC.
By: /s/ Deborah C. Wright
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Deborah C. Wright
President and Chief Executive Officer
Dated: August 9, 2002
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Press release, dated August 6, 2002