On February 27, 2020, Robert R. Tarter, Chairman of the Boards of Directors of Carver Bancorp, Inc. (“Company”) and Carver Federal Savings Bank (“Bank”), retired from his positions with the Company and the Bank, effective March 31, 2020. There were no disagreements between Mr. Tarter and the Company or the Bank. The Boards of Directors of the Company and the Bank each appointed Lewis P. Jones III as Chairman, effective April 1, 2020.