Severn Bancorp, Inc.

Detailed Description

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 mortgage and other lending services, and Internet and mobile banking, as well as checking, savings, money market, time deposit, and individual retirement accounts; 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 October 22, 2020, the company operated through 7 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.