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Severn Bancorp, Inc.
Savings Institutions Federally Chartered MD, United States
Nasdaq: SVBI
Company Description
Severn Bancorp, Inc. is a savings and loan holding company. It conducts business primarily through two subsidiaries, Severn Savings Bank, FSB and SBI Mortgage co. Its principal subsidiary Louis Hyatt, Inc., conducts business as Hyatt Commercial, a commercial real estate brokerage and property management company. The bank's principal business is attracting deposits from the general public and investing those funds in mortgage and commercial loans. It accepts various deposit products, including checking, savings, money market, time deposit, non-interest bearing, and individual retirement accounts, as well as certificates of deposit. The company also provides loan products, such as commercial real estate loans; construction loans for the construction of one-to-four family dwellings; multi-family loans; land loans for the development of residential subdivisions and loans on unimproved lots; and consumer and other loans. The company was founded in 1990 and is headquartered in Annapolis, MD.
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