Latest Severn Bancorp Inc (SVBI) Headlines Seve
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Posted On: 03/13/2014 2:32:22 PM
Latest Severn Bancorp Inc (SVBI) Headlines
Severn Bancorp Announces Fourth Quarter Results and Significant Reduction in Non-Performing Assets
PR Newswire - Fri Jan 24, 10:52AM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company") parent company of Severn Savings Bank, FSB ("Severn"), today announced that non-performing assets, comprised of other real estate owned and non-accrual loans, have been reduced to $20,007,000, or 2.5% of total assets, as of December 31, 2013 compared to $48,936,000, or 5.7% of total assets, as of December 31, 2012.
Severn Bancorp, Inc. Announces Additional Sale of Loans
PR Newswire - Fri Jan 03, 1:00PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB (" the Bank"), announced today that the Bank recently completed the sale of underperforming loans with a book value of approximately $15 million for a sale price of approximately $11 million. As a result of the sale, the Bank will experience a pre-tax charge to income for the 4th quarter of approximately $4 million.
Severn Bancorp, Inc. Announces Quarterly Loss Resulting from Activities to Clean Up Balance Sheet
PR Newswire - Mon Oct 21, 1:41PM CDT
Severn Bancorp, Inc., ("the Company") (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB (" the Bank"), today announced a net loss of $20,548,000 or $(2.08) per share for the third quarter of 2013 compared to net income of $674,000 or $.03 per share for the third quarter of 2012 and compared to net income of $232,000 or $(.01) per share, for the quarter ended June 30, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Nasdaq stocks posting largest percentage increases
AP - Tue Oct 15, 12:22PM CDT
NEW YORK (AP) — A look at the 10 biggest percentage gainers on Nasdaq at 1 p.m.:
Nasdaq stocks posting largest volume decreases
AP - Tue Oct 08, 5:03PM CDT
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
Severn Bancorp Reports Treasury Auction of TARP Shares
PR Newswire - Wed Sep 11, 2:45PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("the Company") parent company of Severn Savings Bank, FSB ("Severn"), today announced that the U.S. Department of Treasury plans to auction all of its preferred shares previously issued by the Company in 2008, as part of the Company's participation in the Troubled Asset Relief Program ("TARP").
Severn Bancorp Announces Second Quarter Earnings
PR Newswire - Tue Jul 16, 1:24PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $232,000 or $(.01) per share for the second quarter of 2013 compared to net income of $1,203,000 or $.08 per share for the second quarter of 2012 and compared to net income of $621,000 or $.03 per share, for the quarter ended March 31, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Severn Bancorp Announces First Quarter Earnings
PR Newswire - Tue Apr 16, 11:14AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $621,000 or $.03 per share for the first quarter of 2013, a slight increase of $44,000, or 7.6% compared to net income of $577,000, or $.02 per share for the first quarter of 2012. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Severn Bancorp Announces Restatement of Financial Statements To Reflect Additional Net Income
PR Newswire - Thu Feb 14, 3:15PM CST
Severn Bancorp, Inc. ("the Company"), (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced that it will restate its previously issued annual consolidated financial statements for the fiscal years 2010, and 2011 and quarterly consolidated financial statements for fiscal years 2010, 2011 and 2012 (including its selected financial data for the relevant periods) due to errors identified in these financial statements. These restatements are expected to be reflected in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 that will be filed with the Securities and Exchange Commission in March 2013. The decision was made by the Company's Board of Directors, upon the recommendation of the Audit Committee and in consultation with management. As a result of this decision, investors should no longer rely upon the Company's previously released financial statements for these periods and any earnings releases or other communications relating to these periods.
Severn Bancorp Announces Fourth Quarter Earnings and Significant Growth In Year End Net Income
PR Newswire - Fri Jan 25, 2:30PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $1,156,000 or $.08 per share for the fourth quarter, slightly higher than net income of $1,067,000, or $.06 per share for the fourth quarter of 2011. Net income was $3,283,000, or $.18 per share for the year ended December 31, 2012, compared to net income of $1,219,000, or $(.05) per share for the year ended December 31, 2011. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Severn Bancorp Announces Fourth Quarter Results and Significant Reduction in Non-Performing Assets
PR Newswire - Fri Jan 24, 10:52AM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company") parent company of Severn Savings Bank, FSB ("Severn"), today announced that non-performing assets, comprised of other real estate owned and non-accrual loans, have been reduced to $20,007,000, or 2.5% of total assets, as of December 31, 2013 compared to $48,936,000, or 5.7% of total assets, as of December 31, 2012.
Severn Bancorp, Inc. Announces Additional Sale of Loans
PR Newswire - Fri Jan 03, 1:00PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB (" the Bank"), announced today that the Bank recently completed the sale of underperforming loans with a book value of approximately $15 million for a sale price of approximately $11 million. As a result of the sale, the Bank will experience a pre-tax charge to income for the 4th quarter of approximately $4 million.
Severn Bancorp, Inc. Announces Quarterly Loss Resulting from Activities to Clean Up Balance Sheet
PR Newswire - Mon Oct 21, 1:41PM CDT
Severn Bancorp, Inc., ("the Company") (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB (" the Bank"), today announced a net loss of $20,548,000 or $(2.08) per share for the third quarter of 2013 compared to net income of $674,000 or $.03 per share for the third quarter of 2012 and compared to net income of $232,000 or $(.01) per share, for the quarter ended June 30, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Nasdaq stocks posting largest percentage increases
AP - Tue Oct 15, 12:22PM CDT
NEW YORK (AP) — A look at the 10 biggest percentage gainers on Nasdaq at 1 p.m.:
Nasdaq stocks posting largest volume decreases
AP - Tue Oct 08, 5:03PM CDT
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
Severn Bancorp Reports Treasury Auction of TARP Shares
PR Newswire - Wed Sep 11, 2:45PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("the Company") parent company of Severn Savings Bank, FSB ("Severn"), today announced that the U.S. Department of Treasury plans to auction all of its preferred shares previously issued by the Company in 2008, as part of the Company's participation in the Troubled Asset Relief Program ("TARP").
Severn Bancorp Announces Second Quarter Earnings
PR Newswire - Tue Jul 16, 1:24PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $232,000 or $(.01) per share for the second quarter of 2013 compared to net income of $1,203,000 or $.08 per share for the second quarter of 2012 and compared to net income of $621,000 or $.03 per share, for the quarter ended March 31, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Severn Bancorp Announces First Quarter Earnings
PR Newswire - Tue Apr 16, 11:14AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $621,000 or $.03 per share for the first quarter of 2013, a slight increase of $44,000, or 7.6% compared to net income of $577,000, or $.02 per share for the first quarter of 2012. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
Severn Bancorp Announces Restatement of Financial Statements To Reflect Additional Net Income
PR Newswire - Thu Feb 14, 3:15PM CST
Severn Bancorp, Inc. ("the Company"), (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced that it will restate its previously issued annual consolidated financial statements for the fiscal years 2010, and 2011 and quarterly consolidated financial statements for fiscal years 2010, 2011 and 2012 (including its selected financial data for the relevant periods) due to errors identified in these financial statements. These restatements are expected to be reflected in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 that will be filed with the Securities and Exchange Commission in March 2013. The decision was made by the Company's Board of Directors, upon the recommendation of the Audit Committee and in consultation with management. As a result of this decision, investors should no longer rely upon the Company's previously released financial statements for these periods and any earnings releases or other communications relating to these periods.
Severn Bancorp Announces Fourth Quarter Earnings and Significant Growth In Year End Net Income
PR Newswire - Fri Jan 25, 2:30PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $1,156,000 or $.08 per share for the fourth quarter, slightly higher than net income of $1,067,000, or $.06 per share for the fourth quarter of 2011. Net income was $3,283,000, or $.18 per share for the year ended December 31, 2012, compared to net income of $1,219,000, or $(.05) per share for the year ended December 31, 2011. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends.
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