Carver State Bank
Carver State Bank has been a vital part of the Savannah, GA community since it was founded as the Georgia Savings and Realty Corporation in 1927. The mission of Carver State Bank is to maintain a sound, profitable, growing institution by providing high-quality products and services for the Bank's customers, especially those in it's targeted communities.
Wells Fargo has made a new round of investments in Black-owned banks. The San Francisco company said it has invested in the $52 million-asset Carver State in Savannah, Ga.; the $572 million-asset Citizens Trust in Atlanta; the $287 million-asset First Independence in Detroit; the $765 million-asset Liberty in New Orleans; and the $183 million-asset Unity in Houston.
Two CDBA member bankers were featured on NPR's Marketplace program in late February. Robert James II, Director of Strategic Initiatives at Carver State Bank, was on the February 22 program to discuss hiring at black-owned banks and the Paycheck Protection Program rollout. Dominik Mjartan, President and CEO at Optus Bank, was on the February 24 program to discuss small business recovery during the pandemic.
Black-owned businesses were among the last to receive paycheck protection loans last year. Now, some businesses are turning to banks that specialize in working with Black and brown customers. Carver State Bank, was founded 94 years ago with a goal of building financial freedom for its African American customers. Eighty percent of its loans go to Black-owned businesses. Robert James, who sits on the bank's board, says he received PPP applications from around the country, most looking for less than $50,000.