Rinse, sort and soak dried Navy Beans in a pot of water for at least 2 hours or overnight.
Drain and rinse soaked beans, set aside.
In same pot, heat olive oil over medium heat.
Add onions and saute until translucent.
Add carrots and saute for 1-2 more minutes.
Add garlic and saute for 1-2 minutes being careful not to burn.
Add ham, ham shank (or bone), broth, water, beans and bay leaf. Bring to a boil, then reduce to simmer.
Partially cover pot with lid and simmer for 1-2 hours or until beans are cooked through. (this depends on how long you soaked your beans)
Remove from heat, fish out ham shank (or bone), remove and shred any meat still on bone and add back to the pot. Discard bone.
Garnish with fresh parsley and serve hot.