Carver State Bank was established on February 23, 1927, and was then known as the Georgia Savings and Realty Corporation. The original corporation served as a private bank as well as a real estate investment and management company for its founder, Louis B. Toomer, his friends and many of his contemporaries in Savannah.
Carver was first located at 505 West Broad Street and during the early years, the business was moved to the 400 block of West Broad Street in the Braswell Building near what was then Hardee's Drug Store.
Early in 1947, efforts began to convert the Georgia Savings and Realty Corporation to a state bank under the supervision of the Georgia Department of Banking. On April 29, 1947, this was accomplished and the corporate charter was amended, with the name being changed to The Carver Savings Bank.
