Severn Bancorp, Inc., together with its subsidiaries, operates as a savings and loan holding company. The company provides various personal banking products and services comprising checking, savings, money market, time deposit, and individual retirement accounts, as well as mortgage and other lending services, and Internet and mobile banking services; commercial banking products and services, including commercial secured and unsecured lending services, as well as business Internet banking, corporate cash management services, and deposit services to commercial customers comprising the medical-use cannabis industry; and safe deposit boxes, ATMs, debit cards, and credit cards. Its loan portfolio comprises residential mortgage loans; commercial real estate loans; construction and land acquisition, and development loans for the construction of one-to-four family dwellings; commercial construction loans; land loans; residential lot loans; business and commercial loans; and home equity loans, home equity lines of credit, and other consumer loans. In addition, the company provides commercial real estate brokerage and property management services; acquires real estate for syndication and investment purposes; leases space; engages in title work related to real estate transactions; and provides various insurance products. Severn Bancorp, Inc. provides its products and services in Maryland, Delaware, and Virginia. As of February 24, 2021, the company operated through seven branches located in Annapolis, Edgewater, Severna Park, Lothian/Wayson's Corner, Crofton, and Glen Burnie. Severn Bancorp, Inc. was founded in 1946 and is headquartered in Annapolis, Maryland.
IPO Year: n/a
Exchange: NASDAQ
Website: severnbank.com
SC 13G/A - SEVERN BANCORP INC (0000868271) (Subject)
ANNAPOLIS, Md., Aug. 24, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (the Company) (NASDAQ:SVBI), the parent company of Severn Bank (the Bank) announced that the Board of Directors declared a cash dividend to its shareholders. The cash dividend of five cents ($0.05) per share of common stock will be payable on September 15, 2021 to shareholders of record at the close of business on September 3, 2021. "Despite the continuing efforts to move forward with the merger of the Company and Shore Bancshares, Inc., net income was sufficient to allow the Company to once again pay a five ce
ANNAPOLIS, Md., May 25, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (the Company) (NASDAQ:SVBI), the parent company of Severn Bank (the Bank) announced that the Board of Directors declared a cash dividend to its shareholders. The cash dividend of five cents ($0.05) per share of common stock will be payable on June 15, 2021 to shareholders of record at the close of business on June 8, 2021. Alan J. Hyatt, President and Chief Executive Officer said, "We are glad to announce that the Company is able to pay another five cent ($.05) dividend this quarter based on our year to date ear
Shore Bancshares Logo (PRNewsfoto/Shore Bancshares, Inc.) Severn Bank logo EASTON, Md. and ANNAPOLIS, Md., March 3, 2021 /PRNewswire/ -- Shore Bancshares, Inc. (NASDAQ: SHBI) ( "Shore"), the holding company of Shore United Bank, and Severn Bancorp, Inc. (NASDAQ: SVBI) ("Severn"), the holding company of Severn Savings Bank, FSB, today announced they have entered into a definitive agreement under which Severn will merge with and into Shore in a stock and cash transaction valued at approximately $146 million (including common stock and stock options), or $11.30 per share of Severn common stock, based on a closing price for Shore's common stock of $15.64 as of March 2, 202
ANNAPOLIS, Md., Feb. 24, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (NASDAQ: SVBI), the parent company of Severn Bank announced that the Board of Directors declared a 25% increase in the quarterly cash dividend to its shareholders. The cash dividend of five cents ($0.05) per share of common stock will be payable on March 15, 2021 to shareholders of record at the close of business on March 8, 2021. Alan J. Hyatt, President and Chief Executive Officer said: "We are pleased to increase our dividend to our shareholders. This has been a challenging time for the economy, and Severn Bank has met the challenges. We continue to support our community through the second round of the PPP program for lo
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4 - SEVERN BANCORP INC (0000868271) (Issuer)
4 - SEVERN BANCORP INC (0000868271) (Issuer)
4 - SEVERN BANCORP INC (0000868271) (Issuer)
4 - SEVERN BANCORP INC (0000868271) (Issuer)
4 - SEVERN BANCORP INC (0000868271) (Issuer)
4/A - SEVERN BANCORP INC (0000868271) (Issuer)
15-12G - SEVERN BANCORP INC (0000868271) (Filer)
8-K - SEVERN BANCORP INC (0000868271) (Filer)
25-NSE - SEVERN BANCORP INC (0000868271) (Subject)
S-8 POS - SEVERN BANCORP INC (0000868271) (Filer)
S-8 POS - SEVERN BANCORP INC (0000868271) (Filer)
S-8 POS - SEVERN BANCORP INC (0000868271) (Filer)
425 - SEVERN BANCORP INC (0000868271) (Subject)
8-K - SEVERN BANCORP INC (0000868271) (Filer)
DEFM14A - SEVERN BANCORP INC (0000868271) (Filer)
8-K - SEVERN BANCORP INC (0000868271) (Filer)
EASTON, Md., Nov. 1, 2021 /PRNewswire/ -- Shore Bancshares, Inc. (NASDAQ:SHBI) (the "Company" or "Shore"), the holding company of Shore United Bank, National Association (the "Shore United"), announced today that it has completed the acquisition, effective as of October 31, 2021, of Severn Bancorp, Inc. (NASDAQ:SVBI) ("Severn"), the savings and loan holding company of Severn Savings Bank, FSB, a federally chartered savings bank headquartered in Annapolis, Maryland. In connection with the merger, Shore United consummated its conversion to a national bank on October 29, 2021. Un
EASTON, Md. and ANNAPOLIS, Md., Oct. 22, 2021 /PRNewswire/ -- Shore Bancshares, Inc. (NASDAQ:SHBI) (the "Company" or "Shore"), the holding company of Shore United Bank, and Severn Bancorp, Inc. (NASDAQ:SVBI) ("Severn"), the holding company of Severn Savings Bank, FSB, announced today that, at special meetings of their respective shareholders held on October 22, 2021, Shore's shareholders approved the merger of Severn with and into Shore, with Shore as the surviving corporation (the "Merger"), and the issuance of shares of Shore's common stock to the shareholders of Severn pursuant to that certain Agreement and Plan of Merger, dated as of March 3, 2021 (the "Merger Agreement"), by and between
ANNAPOLIS, Md., Aug. 24, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (the Company) (NASDAQ:SVBI), the parent company of Severn Bank (the Bank) announced that the Board of Directors declared a cash dividend to its shareholders. The cash dividend of five cents ($0.05) per share of common stock will be payable on September 15, 2021 to shareholders of record at the close of business on September 3, 2021. "Despite the continuing efforts to move forward with the merger of the Company and Shore Bancshares, Inc., net income was sufficient to allow the Company to once again pay a five ce
ANNAPOLIS, Md., July 27, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (the Company) (NASDAQ:SVBI), the parent company of Severn Bank (the Bank), reported net income of $1.7 million for the second quarter ended June 30, 2021 and $5.6 million for the six months ended June 30, 2021 compared to $1.7 million and $2.3 million for the same periods in 2020. Earnings per share on a fully diluted basis were $0.13 for the second quarter and $0.44 for the first six months of 2021 compared to $0.14 and $0.18, respectively, from the second quarter and first six months of 2020. Reaction to COVI
ANNAPOLIS, Md., May 25, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (the Company) (NASDAQ:SVBI), the parent company of Severn Bank (the Bank) announced that the Board of Directors declared a cash dividend to its shareholders. The cash dividend of five cents ($0.05) per share of common stock will be payable on June 15, 2021 to shareholders of record at the close of business on June 8, 2021. Alan J. Hyatt, President and Chief Executive Officer said, "We are glad to announce that the Company is able to pay another five cent ($.05) dividend this quarter based on our year to date ear
ANNAPOLIS, Md., April 29, 2021 /PRNewswire/ -- Filed by Severn Bancorp, Inc.Pursuant to Rule 425 under the Securities Act of 1933And deemed filed pursuant to Rule 14a-12Under the Securities Exchange Act of 1934 Subject Company: Severn Bancorp, Inc.Commission File No. 000-49731 Dear Severn Bancorp Stockholder, Severn Bancorp, Inc., the parent company of Severn Bank, has traditionally held its annual stockholders meeting in the spring. This year, the annual meeting has been postponed – and may not be held at all. Severn Bancorp, Inc. entered into a merger agreement with Shore Ba
ANNAPOLIS, Md., April 23, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (the Company) (NASDAQ:SVBI), the parent company of Severn Bank (the Bank), reported net income of $3.9 million for the first quarter ended March 31, 2021 compared to $565 thousand for the first quarter of 2020. Earnings per share on a fully diluted basis were $0.30 compared to $0.04 for the quarters ended March 31, 2021 and 2020, respectively. Reaction to COVID-19Protocols remain in place for employees and customers concerning the impact of the COVID-19 pandemic. They include remote working, social distancing
Shore Bancshares Logo (PRNewsfoto/Shore Bancshares, Inc.) Severn Bank logo EASTON, Md. and ANNAPOLIS, Md., March 3, 2021 /PRNewswire/ -- Shore Bancshares, Inc. (NASDAQ: SHBI) ( "Shore"), the holding company of Shore United Bank, and Severn Bancorp, Inc. (NASDAQ: SVBI) ("Severn"), the holding company of Severn Savings Bank, FSB, today announced they have entered into a definitive agreement under which Severn will merge with and into Shore in a stock and cash transaction valued at approximately $146 million (including common stock and stock options), or $11.30 per share of Severn common stock, based on a closing price for Shore's common stock of $15.64 as of March 2, 202
ANNAPOLIS, Md., Feb. 24, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (NASDAQ: SVBI), the parent company of Severn Bank announced that the Board of Directors declared a 25% increase in the quarterly cash dividend to its shareholders. The cash dividend of five cents ($0.05) per share of common stock will be payable on March 15, 2021 to shareholders of record at the close of business on March 8, 2021. Alan J. Hyatt, President and Chief Executive Officer said: "We are pleased to increase our dividend to our shareholders. This has been a challenging time for the economy, and Severn Bank has met the challenges. We continue to support our community through the second round of the PPP program for lo
ANNAPOLIS, Md., Feb. 1, 2021 /PRNewswire/ -- Severn Bancorp, Inc. (the Company) (NASDAQ: SVBI), the parent company of Severn Bank (the Bank), reported net income of $2.5 million for the fourth quarter ended December 31, 2020 and $6.7 million for the year ended December 31, 2020 compared to $1.2 million and $8.3 million for the same periods in 2019. Earnings per share on a fully diluted basis were $0.20 for the fourth quarter and $0.52 per share for the year ended 2020, down from $0.09 and $0.64 per share, respectively, from the fourth quarter and year ended 2019. Response to COVID-19The Company continues to monitor the impact of the COVID-19 pandemic and is attempting to keep employees an