Dream Chasers Urges Institutional Shareholders to Join Retail Holders to Drive Change at Carver

Core Viewpoint - Dream Chasers Capital Group is urging institutional shareholders to support nominees Jeffrey "Jeff" Anderson and Jeffrey Bailey for the Board of Directors of Carver Bancorp, emphasizing the need for change due to the company's prolonged poor performance and significant shareholder value decline [1][2][4]. Financial Performance - Carver Bancorp has reported losses totaling nearly $25 million over the last decade, with only one year of annual profit in that period, primarily due to a one-time gain from the sale of its headquarters [3][9]. - Shareholders have experienced a 79% decline in total shareholder return over the past ten years [3][9]. Governance Concerns - Institutional Shareholder Services (ISS) has indicated that Carver's long history of total shareholder return (TSR) and operational underperformance suggests a need for a strategic rethink and improved execution [4][12]. - The current Board's governance framework is criticized for not aligning with the best interests of shareholders [4]. Call to Action - Dream Chasers is encouraging all shareholders to vote for change by supporting the independent nominees, highlighting their qualifications and commitment to improving Carver's profitability and community service [8][13]. - The letter emphasizes that continued support for the current Board is counterproductive and detrimental to both the community and Carver itself [7][10].