Carver State Bank at 99: A Savannah Institution Nearing Its Centennial

SAVANNAH, Ga. (WTOC) - Nearly a century after it began with a mission of thrift and homeownership, Carver State Bank is preparing to enter its 100th year—still rooted in Savannah, still focused on community, and still rare in American banking.

A bank founded to build stability

In 1927, Savannah businessman and banker Lewis B. Toomer founded what was first known as the Georgia Savings and Realty Corporation. Like many early African-American-owned financial institutions, the goal was straightforward and urgent: encourage people to save money, build financial security, and become homeowners.

At the time, the institution operated as a private savings bank, promoting thrift and helping Black families create opportunities that were often blocked by discriminatory systems.

A lifeline during segregation

As segregation shaped nearly every part of public life in the South—including access to basic financial services—Carver filled a critical gap.

The bank provided banking, investment, and insurance services for Black customers who were not always allowed access to white banking establishments. For many families and entrepreneurs, it wasn’t simply a place to deposit money—it was one of the few pathways to credit and economic mobility.

1947: A charter and a new name

Carver’s next major milestone came in 1947, when Toomer applied for and received a state charter. The institution’s name changed to Carver Savings Bank, and it became a state-supervised savings bank.

That transition marked a new chapter: a community-focused financial institution gaining formal standing at a time when Black-owned banks were still battling entrenched barriers.

National service and local impact

Toomer’s influence extended beyond Savannah. In 1953, President Dwight D. Eisenhower appointed him Register of the U.S. Treasury—a notable federal appointment during an era when such recognition was far from common for African-American financial leaders.

Back at home, the bank continued to serve as a cornerstone institution for Savannah’s Black community.

1971: Robert James takes the helm

In 1971, Robert James was appointed president and chief executive officer, stepping into a legacy already decades in the making.

James later reflected on becoming “totally embroiled” in the bank’s history—calling it “a joy” to have been part of that continuing story.

Archival footage captures the optimism of the era. In a 1973 interview with WTOC during a groundbreaking ceremony, James spoke about the bank’s momentum:

“Well, we’re extremely positive in our feeling as to the outlook of a bank. As you know, this year we were record-earning, and this is just our beginning.”

Taking the message to television

Carver didn’t just work behind the scenes; it also made a public case for what community banking could be.

In 1985, the bank carried its mission into living rooms through TV advertising. One commercial captured both confidence and commitment:

“Carver State Bank—we’re prepared for the future. And we plan to help Savannah be prepared for it, too.”

A rare continuity in leadership

One of the most striking facts about Carver’s longevity is how few hands have held the top job.

In nearly 100 years, the bank has had only three presidents, James notes:

• Lewis B. Toomer, who served until the 1960s
• Lawrence D. Perry, who served until 1971
• Robert James, who has led the bank since 1971

That continuity, James suggests, reflects something deeper than stability—it reflects a consistent purpose.

Staying Carver in an age of consolidation

Over the last few decades, the banking industry has undergone wave after wave of mergers, with hometown banks disappearing into larger institutions.

So how has Carver remained?

James points to two core factors: commitment to a mission and the discipline to hold to it even as the industry changed.

While the exact wording of the bank’s mission and vision statements may have evolved, he says the heart of it has remained constant: uplifting the community.

“We are trying to uplift a community. And the need for us to participate and to be around has not changed.”

Beyond Savannah—and still uniquely local

Carver’s footprint has expanded beyond Georgia. The bank has also grown into Alabama, where it owns a Birmingham bank—making Carver the only Black bank in the nation with multi-holdings, according to the bank’s leadership.

Nationally, Carver is also part of a shrinking group: it is one of only about 25 Black-owned banks in the United States.

And in Savannah, the bank holds another distinction.

As of 2025, Carver State Bank is the only locally owned bank in the city of Savannah.

The intermediary role that changed lives

Ask James what he’s most proud of, and he doesn’t point first to buildings or branding. He points to what the bank made possible.

Carver, he says, has served as a financial intermediary—connecting people with capital at the moments when capital determined whether a dream stalled or succeeded.

“There are many business enterprises around town and throughout the state where, if it had not been for Carver, they never would have reached the level of success that they have reached.”

Looking ahead to the centennial

As Carver approaches its 100th year, the message sounds familiar—because it’s been consistent for generations.

In the words of the bank’s own advertising:

“At Carver State Bank, our future is you.”

For Robert James, the next milestone is both history and momentum: a centennial year that honors the past while continuing a mission that began in 1927—helping a community build, own, and thrive.