Carver Bancorp to Delist from Nasdaq, Shift to OTCQX Market

Carver Bancorp, Inc., the parent company of Harlem-based Carver Federal Savings Bank, announced Tuesday its plan to voluntarily delist from the Nasdaq Stock Market and deregister its common stock with the U.S. Securities and Exchange Commission (SEC). The micro-cap bank, with a market capitalization of just US$15.23 million, will transition its shares to the OTCQX Market, with trading expected to commence there on or around December 8.

The move follows a period of sharp stock price swings: Carver’s shares surged nearly 130 percent over the past six months, only to drop 13 percent last week. The company will file a Form 25 with the SEC around November 28, and its final day of Nasdaq trading is expected to be December 5.

In a statement, President and CEO Donald Felix said the decision came after “careful consideration” by the board and “is in the best interests of the company and its stockholders.” The announcement precedes Carver’s scheduled quarterly earnings release on November 21.

Carver cited lower recurring compliance costs and greater strategic flexibility as key drivers behind the shift. The bank believes its profile aligns with the more than 300 financial institutions already trading on OTC Markets, which offer a lighter regulatory burden while maintaining public accessibility.

Founded in 1948 to serve historically marginalized communities in New York City, Carver Federal Savings Bank will continue to file quarterly Call Reports with the Office of the Comptroller of the Currency and uphold its mission of financial inclusion from its Harlem headquarters.

Despite trading slightly above its Fair Value estimate, the bank currently carries a weak financial health score—a backdrop that may have influenced the board’s strategic recalibration.

The delisting reflects a growing trend among small-cap firms seeking cost efficiency and operational agility outside major exchanges, even as they remain publicly traded and transparent to investors.