Carver in N.Y. sets up potential $20M in stock sales

Carver Bancorp in New York has lined up an agreement to sell $20 million of common stock over time.

The $707 million-asset company disclosed in a regulatory filing Tuesday that it retained Piper Sandler to handle potential stock sales. 

Sandler will be paid a 3% commission tied to the aggregate purchase price of each sale. Carver said it is not obligated to sell any stock.