Minority Thrift to Buy Community Cap Bank

Carver Bancorp Inc., a minority-owned thrift holding company based in New York, has agreed to acquire Community Capital Bank, a community bank based in the borough of Brooklyn, in an $11.1 million cash transaction.Once the deal is completed, Carver's commercial real estate and residential lending businesses will be joined with Community Capital's Small Business Association lending operations. Community Capital's president and chief executive Charles F. Kohler will become president of Carver's Community Capital subsidiary, responsible for overseeing all lending operations of the combination, including commercial and residential real estate. Deborah C. Wright, chairman and chief executive of Carver, said Carver "will expand on Community Capital's strong tradition of personal service and commitment to meeting the banking needs of its customers by providing a comprehensive lending platform for consumers, real estate developers and landlords, small businesses, and non-profits throughout our combined branch network." Ms. Wright said adding the small-business lending segment will position Carver to accelerate its growth.