In 1980 Severn relocated its headquarters to Annapolis, MD and began a fulltime operation, though total assets under management were still less than half-a-million dollars.
Starting in 1984 changes in legal designations began. Severn evolved from a building and loan to a chartered stock savings and loan, with deposits insured by the Maryland Savings Share Insurance Corporation. Eventually Severn would make the move from a Federal Home Loan Bank to a Federal Stock Savings Bank.
In 1990, Severn’s board and stockholders approved a reorganization into a holding company with ownership of Severn Bancorp, Inc.
Today’s Severn Bank is a retail institution with products and services created and marketed specifically for the people of the Chesapeake Bay region.