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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Severn Bancorp, Inc.    SVBI

SEVERN BANCORP, INC.

(SVBI)
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Severn Bancorp : Bank Opens New Full-Service Branch in Crofton

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10/31/2019 | 02:57pm EDT

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, and on-site commercial and mortgage bankers. The building was renovated to improve the appearance and provide a friendly and welcoming environment for customers in the area. The new Crofton branch offers free on-site parking.

Alan J. Hyatt, President of Severn Bank said 'We are excited to open another new branch. Severn has a long history in Anne Arundel County, and we look forward to providing a local community banking option to the residents of the greater Crofton area. This is our first branch west of I97 and we are looking forward to expanding and introducing new customers to our exceptional products, employees and service.'

Kimlloy Broughton is the Crofton Severn Bank Branch Manager. Other team members from the previous location have also joined Severn Bank to work in the Crofton branch. Lobby and drive-through hours are Monday - Thursday 9:00 a.m. - 5:00 p.m., Friday 9:00 a.m. - 6:00 p.m. and Saturday 9:00 a.m. - 12:00 p.m.

About Severn Bank: Founded in 1946, Severn Bank is a full-service community bank offering a wide array of personal and commercial banking products as well as residential and commercial mortgage lending. It offers seven branches located in Annapolis, Crofton, Edgewater, Glen Burnie, Wayson's Corner/Lothian, and Severna Park, Maryland. The bank specializes in exceptional customer service and holds itself and its employees to a high standard of community contribution. Severn is on the Web at www.severnbank.com.

Disclaimer

Severn Bancorp Inc. published this content on 31 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2019 19:56:04 UTC


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Financials (USD)
Sales 2019 41,3 M - -
Net income 2019 8,37 M - -
Net cash 2019 37,5 M - -
P/E ratio 2019 14,3x
Yield 2019 1,50%
Capitalization 81,4 M 81,4 M -
EV / Sales 2018 -0,04x
EV / Sales 2019 1,98x
Nbr of Employees 173
Free-Float 76,3%
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Managers
NameTitle
Alan J. Hyatt Chairman, President & Chief Executive Officer
Vance W. Adkins Chief Financial Officer & Executive Vice President
John A. Lamon Independent Director
Konrad M. Wayson Vice Chairman
Eric M. Keitz Director
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