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October 31, 2019
October 31, 2019Severn Bank Opens New Full-Service Branch in Crofton
Annapolis, MD (October 31, 2019) – Severn Bank (“Severn”) has announced the opening of a new branch at 2151 Defense Highway in the Priest Bridge Shopping Center in Crofton, Maryland. This is the seventh branch in Anne Arundel County for the bank. The 1,263 square foot branch includes tellers and drive-through teller windows, an ATM, …
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October 31, 2019
October 31, 2019Severn Bancorp, Inc. Reports Strong Third Quarter and Year-To-Date Earnings
Annapolis, MD, October 28, 2019 (PRNewswire) – Severn Bancorp, Inc., (NASDAQ: SVBI), the parent company of Severn Bank, reported net income available to common shareholders of $2.4 million for the third quarter ended September 30, 2019 and $7.2 million for the nine months ended September 30, 2019 versus $2.2 million and $5.9 million for the …
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August 30, 2019
August 30, 2019Severn Bank Appoints Vance W. Adkins Chief Financial Officer
ANNAPOLIS, MD (August 29, 2019) — The Board of Directors of Severn Bancorp, Inc. (the “Company”), and its subsidiary, Severn Bank (the “Bank”) appointed Vance W. Adkins, Executive Vice President and Chief Financial Officer of the Company and the Bank effective September 16, 2019. Mr. Adkins brings years of experience in financial management, and in …
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August 29, 2019
August 29, 2019Severn Bancorp, Inc. Announces Increased Dividend for Second Quarter
Annapolis, MD (August 28, 2019) – Severn Bancorp, Inc., (NASDAQ: SVBI) (the “Company”), parent company of Severn Bank today announced that the Board of Directors approved a cash dividend to its shareholders. The cash dividend of four cents ($0.04) per share of common stock, a 33% increase from the previous quarter payment of three cents …
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July 29, 2019
July 30, 2019Severn Bancorp, Inc. Announces Second Quarter Earnings
Annapolis, MD (July 26, 2019) – Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Bank, today announced net income of $2.2 million for the three months ending June 30, 2019 versus $1.9 million for the same quarter in 2018. On a diluted per share basis, earnings were $0.17 versus $0.15 for the quarters ending …
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May 14, 2019
May 14, 2019Severn Bancorp, Inc. Announces a 38% Increase in First Quarter Earnings
Annapolis, MD (May 13, 2019) – Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Bank, today announced net income of $2.6 million for the three months ending March 31, 2019 versus $1.9 million for the same quarter in 2018, which is a 38% increase in earnings. On a diluted per share basis, earnings were …
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May 14, 2019
May 14, 2019Severn Bank Appoints Erik M. Chick Chief Lending Officer
ANNAPOLIS, MD (May 9, 2019) — Severn Bank today announced the appointment of Erik M. Chick as Chief Lending Officer and Executive Vice President. Mr. Chick has over 20 years in the banking industry. He has been a Vice President and Commercial Relationship Manager with Severn Bank since 2015. He has held various positions with …
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February 1, 2019
February 1, 2019Severn Bancorp, Inc. Announces Year End Earnings
Annapolis, MD (January 29, 2019) – Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Bank, today announced net income of $2.6 million for the three months ending December 31, 2018 versus a net loss of $349 thousand for the same quarter in 2017. On a diluted per share basis, earnings were $0.20 versus $(0.03) …
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November 5, 2018
November 5, 2018Severn Bancorp, Inc. Announces Third Quarter Earnings
Annapolis, MD (October 29, 2018) – Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Bank, today announced net income of $2.2 million for the three months ending September 30, 2018 versus $1.3 million for the same quarter in 2017. This is an increase of 72% year over year for the period. On a diluted …
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September 5, 2018
October 3, 2018Severn Bancorp, Inc. Announces Dividend
Severn Bancorp, Inc., (Nasdaq: SVBI) (the “Company”), parent company of Severn Savings Bank, FSB, today announced that the Board of Directors approved a cash dividend to its shareholders. The cash dividend of three cents ($0.03) per share of common stock will be payable on September 18, 2018 to shareholders of record at the close of business on September 7, 2018.