GregGrown
7 years ago
Seems like a good sign
https://xnewspress.com/2018/08/30/gendell-jeffrey-l-raises-stake-in-severn-bancorp-inc-svbi.html
Gendell Jeffrey L lifted its stake in shares of Severn Bancorp, Inc. (NASDAQ:SVBI) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 254,745 shares of the bank’s stock after acquiring an additional 10,000 shares during the quarter. Gendell Jeffrey L owned approximately 2.01% of Severn Bancorp worth $2,204,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. JCSD Capital LLC purchased a new position in shares of Severn Bancorp during the second quarter worth approximately $977,000. Dimensional Fund Advisors LP increased its position in shares of Severn Bancorp by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 33,924 shares of the bank’s stock worth $293,000 after acquiring an additional 6,190 shares during the period. BlackRock Inc. increased its position in shares of Severn Bancorp by 400.7% during the second quarter. BlackRock Inc. now owns 29,183 shares of the bank’s stock worth $252,000 after acquiring an additional 23,355 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of Severn Bancorp by 43.5% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 20,603 shares of the bank’s stock worth $178,000 after acquiring an additional 6,250 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Severn Bancorp by 22.4% during the second quarter. Commonwealth Equity Services LLC now owns 39,631 shares of the bank’s stock worth $343,000 after acquiring an additional 7,260 shares during the period. 18.40% of the stock is currently owned by institutional investors and hedge funds.
chmcnfunds
11 years ago
Severn Savings Bank Appoints Chief Operating Officer
ANNAPOLIS, Md., June 19, 2014 /PRNewswire/ --
Severn Bancorp, Inc., (NASDAQ: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced the appointment of James M. Anthony as Executive Vice President along with his appointment as Chief Operating Officer of Severn. Mr. Anthony joins Severn from Chesapeake Bancorp and Chesapeake Bank & Trust Company in Chestertown, Maryland where he served as Chief Executive Officer, President and Director.
Mr. Anthony has over fifteen years of experience in the financial services industry, the last ten of which he spent running one of the best community banks in the country, as ranked by American Banker magazine. He has served in key bank management positions including Senior Lending Officer, Head of Investment Services, and Chief Information Officer. Prior to his position at Chesapeake Bank & Trust, Mr. Anthony was a consultant with McKinsey & Company and PricewaterhouseCoopers where he developed and executed strategic initiatives for clients seeking to maximize their effectiveness in sales, market development, information technology, and operational efficiency. Prior to that, he served as the Manager of Engineering Services for Annapolis-based Mid-Atlantic Technical Services. His role at Severn will be to oversee management of operations, and he will join the Bank in early August.
Commenting on the appointment, Alan J. Hyatt, President and Chief Executive Officer said, "We are pleased to have someone with James's considerable experience and knowledge joining our team as our Chief Operating Officer. He brings a combination of a solid financial services background and understanding along with an innovative approach to taking Severn to the next level as we continue to evolve to meet customers' needs. He will be instrumental in our growth and solidifying Severn's position as the premier community bank in the region."
Mr. Anthony remarked, "It is a great honor to contribute to Severn Savings Bank's future success. Severn is an institution which understands that highly personalized service and technological conveniences go hand-in-hand. Severn is a very well-capitalized bank with strong ties to our community and tremendous opportunities to deepen its relationships with retail and commercial customers. I look forward to working with Severn's talented management team to make the most of those opportunities."
An Annapolis native, Mr. Anthony holds an MBA from the University of Chicago and two degrees from the University of Maryland: a master's degree in systems engineering and a bachelor's degree in mechanical engineering. He is also a graduate of ABA Stonier Graduate School of Banking at Georgetown University.
Mr. Anthony currently serves on the Maryland Bankers Association Government Relations Council and is a member of the board of directors of the Atlantic Community Bankers Bank. He is also very active in the non-profit community, having served on the boards of Kent School, Mount Harmon Plantation, The Eastern Shore Land Conservancy, and The Kent County Community Food Pantry.
About Severn Savings Bank
Founded in 1946, Severn Savings Bank, FSB 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 has assets of approximately $800 million and four branches located in Annapolis, Edgewater and Glen Burnie. 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.
SOURCE Severn Bancorp, Inc.
Copyright 2014 PR Newswire
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SVBI
chmcnfunds
11 years ago
Severn Bancorp, Inc. Announces First Quarter Earnings
ANNAPOLIS, Md., April 16, 2014 /PRNewswire/ --
Severn Bancorp, Inc., SVBI -1.11% parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $867,000 or $.03 per share for the first quarter of 2014, an increase of approximately 40% compared to net income of $621,000 or $.03 per share for first quarter of 2013. Results reported also represent a significant increase in earnings compared to a net loss of $5,470,000 or $(.58) per share for the fourth quarter of 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
"We are encouraged to be able to report a profit for this first quarter after successfully concluding almost $50 million of problem asset sales in late 2013," stated Alan J. Hyatt, president and chief executive officer. Mr. Hyatt continued, "Severn made decisions to position the bank for success as one of the few remaining local community banks, and this is a first step in the right direction. We are now dedicated to expanding technology and service offerings rather than dealing with problems. Severn is proud to continue the tradition of offering the personal service that residents and business owners in Anne Arundel County have come to expect from a community bank."
About Severn Savings Bank: Founded in 1946, Severn 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 has assets of approximately $790 million and four branches located in Annapolis, Edgewater and Glen Burnie, 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 .
Forward Looking Statements In addition to the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties that may be affected by various factors that may cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements contained herein include, but are not limited to, those with respect to management's determination of the amount of loan loss reserve and statements about the economy. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "could," "should," "guidance," "potential," "continue," "project," "forecast," "confident," and similar expressions are typically used to identify forward-looking statements. Severn's operations and actual results could differ significantly from those discussed in the forward-looking statements. Some of the factors that could cause or contribute to such differences include, but are not limited to, changes in the economy and interest rates both in the nation and in Severn's general market area, federal and state regulation, competition and other factors detailed from time to time in Severn's filings with the Securities and Exchange Commission (the "SEC"), including "Item 1A. Risk Factors" contained in Severn's Annual Report on Form 10-K for the fiscal year ended December 31, 2013.
Severn Bancorp, Inc.
Selected Financial Data
(dollars in thousands, except per share data)
(Unaudited)
(click link for details)
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http://www.marketwatch.com/story/severn-bancorp-inc-announces-first-quarter-earnings-2014-04-16?siteid=nbsh
SVBI
chmcnfunds
13 years ago
3rd Quarter Earnings Hold Steady At Severn Bancorp
ANNAPOLIS, Md., Oct. 16, 2012 /PRNewswire/ --
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $558,000 or $.02 per share for the third quarter of 2012 compared to a net income of $551,000 or $.01 per share for the third quarter of 2011 and compared to net income of $1,097,000 or $.07 per share, for the quarter ended June 30, 2012. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
"Although we had net earnings in the third quarter, we need those earnings to improve. While Severn continues to aggressively deal with its non-performing and non-accrual loans, and has been successfully liquidating real estate acquired through foreclosure, it is a process that will continue to take time to resolve," stated Alan J. Hyatt , president and chief executive officer. Mr. Hyatt continued "We have been staying very busy expanding lines of business and launching new products and channels, such as Mobile Banking, to keep us current and competitive in the market. Severn is committed to providing the resources, products and expertise of a larger financial institution, along with the local decision making, market knowledge and personal service of a community bank. We want to be able to offer value to our customers and an excellent banking experience. "
About Severn Savings Bank:
Founded in 1946, Severn 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 has assets of approximately $860 million and four branches located in Annapolis, Edgewater and Glen Burnie, 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.
Forward Looking Statements
In addition to the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties that may be affected by various factors that may cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements contained herein include, but are not limited to, those with respect to management's determination of the amount of loan loss reserve and statements about the economy. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "could," "should," "guidance," "potential," "continue," "project," "forecast," "confident," and similar expressions are typically used to identify forward-looking statements. Severn's operations and actual results could differ significantly from those discussed in the forward-looking statements. Some of the factors that could cause or contribute to such differences include, but are not limited to, changes in the economy and interest rates both in the nation and in Severn's general market area, federal and state regulation, competition and other factors detailed from time to time in Severn's filings with the Securities and Exchange Commission (the "SEC"), including "Item 1A. Risk Factors" contained in Severn's Annual Report on Form 10-K for the fiscal year ended December 31, 2011.
(click link for earning details)
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http://www.prnewswire.com/news-releases/3rd-quarter-earnings-hold-steady-at-severn-bancorp-174418921.html
SVBI
chmcnfunds
13 years ago
2nd Quarter Earnings Increase By $1.9 Million At Severn Bancorp
ANNAPOLIS, Md., July 16, 2012 /PRNewswire/ --
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $1,097,000 or $.07 per share for the second quarter of 2012 compared to a net loss of $846,000 or $(.13) per share for the second quarter of 2011 and compared to net income of $472,000 or $.00 per share, for the quarter ended March 31, 2012. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
"We are encouraged by the results from this quarter. We have continued to be persistent and work hard, and it is beginning to show," stated Alan J. Hyatt, president and chief executive officer. Mr. Hyatt continued, "We certainly owe this improvement in earnings to our customers who have continued to support a community bank like Severn for years as well as to our committed employees who have made it their mission to strengthen their company during challenging economic conditions. We know we still face challenges, but I feel confident we have the plan, tools, and staff to continue the upward trend and improve returns to shareholders. We continue to monitor our problem loans closely and take a conservative accounting approach to them. While impaired loans have decreased from March 31, 2012, we decided to move over $10 million of loans previously classified as impaired to non-accrual status at June 30, 2012 in an effort to reflect the loans' interest income in a more conservative manner."
About Severn Savings Bank:
Founded in 1946, Severn 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 has assets of approximately $900 million and four branches located in Annapolis, Edgewater and Glen Burnie, 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.
Forward Looking Statements
In addition to the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties that may be affected by various factors that may cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements contained herein include, but are not limited to, those with respect to management's determination of the amount of loan loss reserve and statements about the economy. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "could," "should," "guidance," "potential," "continue," "project," "forecast," "confident," and similar expressions are typically used to identify forward-looking statements. Severn's operations and actual results could differ significantly from those discussed in the forward-looking statements. Some of the factors that could cause or contribute to such differences include, but are not limited to, changes in the economy and interest rates both in the nation and in Severn's general market area, federal and state regulation, competition and other factors detailed from time to time in Severn's filings with the Securities and Exchange Commission (the "SEC"), including "Item 1A. Risk Factors" contained in Severn's Annual Report on Form 10-K for the fiscal year ended December 31, 2011.
Severn Bancorp, Inc.
Selected Financial Data
(dollars in thousands, except per share data)
(Unaudited)
* The efficiency ratio is general and administrative expenses as a percentage of net interest income plus non-interest income
SOURCE Severn Bancorp, Inc.
RELATED LINKS
http://www.severnbank.com
PR Newswire (http://s.tt/1i3V1)
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SVBI
chmcnfunds
13 years ago
Severn Bancorp Announces Retirement of Executive Vice President
ANNAPOLIS, Md., July 5, 2012 /PRNewswire/ --
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced that Executive Vice President and Chief Relationship Officer, Philip V. Jones, Jr., announced his retirement effective July 31, 2012. He will provide consulting services to the company through the transition. Jones has been with Severn since 2009 and was appointed Chief Relationship Officer in 2011.
"Phil Jones has served Severn with true commitment during very challenging times. I have thoroughly enjoyed working with Phil and have looked to him for continued guidance and as a resource for his industry knowledge. He has been a dedicated and loyal employee, and I thank him for his service and wish him the best of luck in his future endeavors," said Alan J. Hyatt, president and chief executive officer.
Jones said, "It has been a tremendous honor to serve this company and work with all the extremely talented and dedicated employees. I would like to express my sincere gratitude to Mr. Hyatt for the opportunity to work with such a quality institution. It has been a privilege to work with the leadership team and the board members of Severn."
About Severn Savings Bank:
Founded in 1946, Severn 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 has assets of approximately $900 million and four branches located in Annapolis, Edgewater and Glen Burnie, Maryland. The bank specializes in exceptional customer service and holds itself and its employees to a high standard of community contribution. Severn is on the Web at www.severnbank.com.
Forward Looking Statements
In addition to the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties that may be affected by various factors that may cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements contained herein include, but are not limited to, those with respect to management's determination of the amount of loan loss reserve and statements about the economy. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "could," "should," "guidance," "potential," "continue," "project," "forecast," "confident," and similar expressions are typically used to identify forward-looking statements. Severn's operations and actual results could differ significantly from those discussed in the forward-looking statements. Some of the factors that could cause or contribute to such differences include, but are not limited to, changes in the economy and interest rates both in the nation and in Severn's general market area, federal and state regulation, competition and other factors detailed from time to time in Severn's filings with the Securities and Exchange Commission (the "SEC"), including "Item 1A. Risk Factors" contained in Severn's Annual Report on Form 10-K for the fiscal year ended December 31, 2011.
SOURCE Severn Bancorp, Inc.
RELATED LINKS
http://www.severnbank.com
Source: PR Newswire (http://s.tt/1gZhk)
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SVBI
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Penny Roger$
13 years ago
