On March 25, 2021, Susan M. Tohbe, a member of the Boards of Directors of Carver Bancorp, Inc. ("Company") and Carver Federal Savings Bank ("Bank"), announced her retirement from her positions with the company and the Bank, effective April 1, 2021. There were no disagreements between Ms. Tohbe and the company or the Bank. The Boards of Directors of the company and the Bank each appointed Colvin W. Grannum as Chair of the Finance and Audit Committee, effective April 1, 2020.