Carver Bancorp, Inc (CARV)

[56Chevy]

The Company reported a net loss for the three months ended September 30, 2011 of $9.5 million compared to a net loss of $23.4 million for the prior year period. The primary driver of the current quarter loss is the elevated levels of charge offs incurred on those loans that were reclassified to held for sale at fair market value. The prior period loss was due to a $20.7 million valuation allowance that was taken on the Company's deferred tax asset in the prior period.

http://www.msnbc.msn.com/id/45286469/ns/business-press_releases/t/carver-bancorp-inc-reports-second-quarter-fiscal-year-results/