Severn Bancorp Inc (SVBI) 6.02 $SVBI
Severn Bancorp, Inc. Announces Partial Redemption of TARP Preferred Stock and Payment of Obligations Under Outstanding Trust Preferred Securities
PR Newswire - Thu May 19, 1:56PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) (the "Company"
parent company of Severn Savings Bank, FSB ("Severn", announced the redemption of a portion of the 23,393 original shares of preferred stock sold in 2008 to the U.S. Department of the Treasury (the "TARP Shares", now owned by third parties. The TARP Shares have a dividend rate of 9% per annum. The Company paid $10 million on May 16, 2016 to redeem 10,000 of the TARP Shares, leaving 13,393 of those shares outstanding. Prior to the redemption the Company paid all interest payments current on its outstanding trust preferred securities, consisting of deferred interest for 16 quarters beginning in 2012, as allowed under the trust indenture.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces Retirement of Chief Financial Officer
PR Newswire - Tue May 03, 10:41AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Bancorp" parent company of Severn Savings Bank, FSB ("Severn", today announced that Thomas G. Bevivino has advised Bancorp and Severn of his intention to step down as Executive Vice President and Chief Financial Officer ("CFO" once a successor is identified and appointed. Mr. Bevivino will remain with the company to assist with the CFO succession for a transition period prior to his planned retirement at the end of June 2016. Bancorp has initiated a search to identify a replacement for Mr. Bevivino.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces $11 Million Private Placement
PR Newswire - Fri Apr 15, 9:39AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) (the "Company" parent company of Severn Savings Bank, FSB ("Severn", announced today it has entered into definitive agreements with institutional investors and certain directors and executive officers of the Company to sell in a private placement approximately 2 million shares of its common stock at a price of $5.50 per share, resulting in gross proceeds to the Company of approximately $11 million, before deducting expenses. Proceeds from the private placement are expected to be used in part to pay all accrued and unpaid interest and dividends on its Series B Preferred Stock, partially redeem its Series B Preferred Stock, and for general corporate and working capital purposes.
SVBI: 6.02 (-0.07)
Federal Reserve terminates agreement with Severn Bancorp
M2 - Wed Feb 10, 6:29AM CST
Severn Bancorp, Inc., (NASDAQ: SVBI), parent company of Severn Savings Bank has been informed by the Federal Reserve Bank of Richmond (FRB) that the formal written agreement between the company and FRB dated November 23, 2009 was terminated effective January 21, 2016, the company said. The original agreement was between the company and the office of thrift supervision. As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the OTS was abolished and the regulatory oversight functions and authority of the OTS related to the company were transferred to FRB. 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 USD760 million.
SVBI: 6.02 (-0.07)
Severn Bancorp reports Q4 2015 net income of USD1.078m
M2 - Fri Feb 05, 6:45AM CST
Severn Bancorp, Inc., (NASDAQ: SVBI) has reported net income for the fourth quarter of 2015 dipped slightly versus the fourth quarter of 2014, to USD1,078,000 or USD.05 per diluted share, compared to net income of USD1,550,000 or USD.09 per diluted share, the company said. Net income for the year ended December 31, 2015 of USD4,535,000 or USD.21 per diluted share, a 56 percent increase, versus net income of USD2,909,000 or USD.06 per diluted share for the year ended December 31, 2014. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. Severn Savings Bank is a full-service community bank offering personal and commercial banking products as well as residential and commercial mortgage lending. It has assets of approximately USD760 million and four branches located in Annapolis, Edgewater and Glen Burnie, Maryland.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces Termination of Formal Agreement with the Federal Reserve
PR Newswire - Tue Feb 02, 1:40PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company" parent company of Severn Savings Bank, FSB ("Severn", today announced that the Company was informed by the Federal Reserve Bank of Richmond ("FRB", that the formal written agreement between the Company and FRB dated November 23, 2009 (the "Agreement", was terminated effective January 21, 2016. The original agreement was between the Company and the Office of Thrift Supervision ("OTS". As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the OTS was abolished and the regulatory oversight functions and authority of the OTS related to the Company were transferred to FRB.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Significant Increase in Year End Earnings
PR Newswire - Thu Jan 28, 1:56PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company" parent company of Severn Savings Bank, FSB ("Severn", reported net income for the year ended December 31, 2015 of $4,535,000 or $.21 per diluted share, a 56% increase, versus net income of $2,909,000 or $.06 per diluted share for the year ended December 31, 2014. Net income for the fourth quarter of 2015 dipped slightly versus the fourth quarter of 2014, to $1,078,000 or $.05 per diluted share compared to net income of $1,550,000 or $.09 per diluted share. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization.
SVBI: 6.02 (-0.07)
Exploring Market Correlations - Research on BlueLinx, Severn Bancorp, Amtech and NetSol
ACCESSWIRE - Fri Dec 04, 7:27AM CST
NEW YORK, NY / ACCESSWIRE / December 4, 2015 / Moments ago, Trader's Choice released new research updates concerning several important developing situations including the following equities: BlueLinx Holdings Inc. (NYSE: BXC), Severn Bancorp Inc. (NASDAQ: SVBI), Amtech Systems Inc. (NASDAQ: ASYS) and NetSol Technologies Inc. (NASDAQ: NTWK). Trader's Choice has perfected the profitable art of picking stocks, cutting through the noise to deliver the top trade, every year. The full Research Packages are being made available to the public on a complimentary basis.
BXC: 7.20 (unch), NTWK: 5.82 (+0.03), ASYS: 5.78 (+0.17), SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces Termination of Formal Agreement Between Severn Savings Bank, FSB and the Comptroller of the Currency
PR Newswire - Fri Oct 16, 7:33AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company" parent company of Severn Savings Bank, FSB ("Severn", today announced that Severn was informed by its primary regulator, the Office of the Comptroller of the Currency (the "OCC", that the formal written agreement between Severn and the OCC dated April 23, 2013 (the "Agreement", was terminated effective October 15, 2015.
SVBI: 6.02 (-0.07)
Severn Savings Bank Appoints Christopher Chick Chief Lending Officer
PR Newswire - Wed Sep 23, 9:43AM CDT
Severn Bancorp, Inc., (Nasdaq SVBI) parent company of Severn Savings Bank, FSB ("Severn", today announced the appointment of Christopher Chick as Chief Lending Officer and Executive Vice President.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Significant Increase in Earnings for the First Half of 2015
PR Newswire - Fri Jul 24, 10:04AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company" parent company of Severn Savings Bank, FSB ("Severn", today announced net income of $1,365,000 or $.08 per share for the second quarter of 2015 compared to a net loss of $(576,000) or $(.12) per share for the second quarter of 2014. Earnings for the second quarter also increased by 58% compared to net income of $865,000 or $.03 per share for the first quarter of 2015. Year to date earnings improved significantly at $2,230,000 or $.10 per share for 2015 versus $291,000 or $(.09) per share for the same period of 2014. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. Another indication of numbers headed in the right direction came in the form of further decreases in non-performing assets.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces First Quarter Earnings
PR Newswire - Fri Apr 24, 11:50AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn", today announced net income of $865,000 or $0.03 per share for the first quarter of 2015. Earnings were consistent with 2014 first quarter results of net income of $867,000 or $0.03 per share. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Increased Earnings for Fourth Quarter 2014
PR Newswire - Wed Jan 28, 3:22PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company" parent company of Severn Savings Bank, FSB ("Severn", reported net income of $1,550,000 or $.10 per share for the fourth quarter of 2014, a 45% increase compared to net income of $1,068,000 or $.05 per share for the third quarter of 2014. Earnings for the fourth quarter of 2014 are also significantly higher than the reported fourth quarter 2013 net loss of $5,472,000 or ($0.58) per share. Fourth quarter earnings in 2013 were impacted by the loss on the sale of certain non-performing loans during the year. For the year ended December 31, 2014 the Company reported net income of $2,909,000 or $.06 per share versus a loss of $25,165,000 or ($2.64) per share for the year ended December 31, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Third Quarter 2014 Earnings
PR Newswire - Fri Oct 24, 12:14PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company" parent company of Severn Savings Bank, FSB ("Severn", reported net income of $1,068,000 or $.05 per share for the third quarter of 2014, compared to a net loss of $576,000 or ($.12) per share for the second quarter of 2014. Net income for the third quarter of 2014 is also significantly higher than the reported third quarter 2013 net loss of $20,548,000 or ($2.08) per share. The third quarter net loss in 2013 was impacted by the loss on the sale of certain non-performing commercial loans during the quarter. Year to date net income as of September 30, 2014 is $1,359,000 or ($.04) per share versus a year to date net loss of $19,695,000 or ($2.06) per share as of September 30, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces Partial Redemption of TARP Preferred Stock and Payment of Obligations Under Outstanding Trust Preferred Securities
PR Newswire - Thu May 19, 1:56PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) (the "Company"
parent company of Severn Savings Bank, FSB ("Severn", announced the redemption of a portion of the 23,393 original shares of preferred stock sold in 2008 to the U.S. Department of the Treasury (the "TARP Shares", now owned by third parties. The TARP Shares have a dividend rate of 9% per annum. The Company paid $10 million on May 16, 2016 to redeem 10,000 of the TARP Shares, leaving 13,393 of those shares outstanding. Prior to the redemption the Company paid all interest payments current on its outstanding trust preferred securities, consisting of deferred interest for 16 quarters beginning in 2012, as allowed under the trust indenture. SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces Retirement of Chief Financial Officer
PR Newswire - Tue May 03, 10:41AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Bancorp"
parent company of Severn Savings Bank, FSB ("Severn", today announced that Thomas G. Bevivino has advised Bancorp and Severn of his intention to step down as Executive Vice President and Chief Financial Officer ("CFO" once a successor is identified and appointed. Mr. Bevivino will remain with the company to assist with the CFO succession for a transition period prior to his planned retirement at the end of June 2016. Bancorp has initiated a search to identify a replacement for Mr. Bevivino. SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces $11 Million Private Placement
PR Newswire - Fri Apr 15, 9:39AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) (the "Company"
parent company of Severn Savings Bank, FSB ("Severn", announced today it has entered into definitive agreements with institutional investors and certain directors and executive officers of the Company to sell in a private placement approximately 2 million shares of its common stock at a price of $5.50 per share, resulting in gross proceeds to the Company of approximately $11 million, before deducting expenses. Proceeds from the private placement are expected to be used in part to pay all accrued and unpaid interest and dividends on its Series B Preferred Stock, partially redeem its Series B Preferred Stock, and for general corporate and working capital purposes. SVBI: 6.02 (-0.07)
Federal Reserve terminates agreement with Severn Bancorp
M2 - Wed Feb 10, 6:29AM CST
Severn Bancorp, Inc., (NASDAQ: SVBI), parent company of Severn Savings Bank has been informed by the Federal Reserve Bank of Richmond (FRB) that the formal written agreement between the company and FRB dated November 23, 2009 was terminated effective January 21, 2016, the company said. The original agreement was between the company and the office of thrift supervision. As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the OTS was abolished and the regulatory oversight functions and authority of the OTS related to the company were transferred to FRB. 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 USD760 million.
SVBI: 6.02 (-0.07)
Severn Bancorp reports Q4 2015 net income of USD1.078m
M2 - Fri Feb 05, 6:45AM CST
Severn Bancorp, Inc., (NASDAQ: SVBI) has reported net income for the fourth quarter of 2015 dipped slightly versus the fourth quarter of 2014, to USD1,078,000 or USD.05 per diluted share, compared to net income of USD1,550,000 or USD.09 per diluted share, the company said. Net income for the year ended December 31, 2015 of USD4,535,000 or USD.21 per diluted share, a 56 percent increase, versus net income of USD2,909,000 or USD.06 per diluted share for the year ended December 31, 2014. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. Severn Savings Bank is a full-service community bank offering personal and commercial banking products as well as residential and commercial mortgage lending. It has assets of approximately USD760 million and four branches located in Annapolis, Edgewater and Glen Burnie, Maryland.
SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces Termination of Formal Agreement with the Federal Reserve
PR Newswire - Tue Feb 02, 1:40PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company"
parent company of Severn Savings Bank, FSB ("Severn", today announced that the Company was informed by the Federal Reserve Bank of Richmond ("FRB", that the formal written agreement between the Company and FRB dated November 23, 2009 (the "Agreement", was terminated effective January 21, 2016. The original agreement was between the Company and the Office of Thrift Supervision ("OTS". As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the OTS was abolished and the regulatory oversight functions and authority of the OTS related to the Company were transferred to FRB. SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Significant Increase in Year End Earnings
PR Newswire - Thu Jan 28, 1:56PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company"
parent company of Severn Savings Bank, FSB ("Severn", reported net income for the year ended December 31, 2015 of $4,535,000 or $.21 per diluted share, a 56% increase, versus net income of $2,909,000 or $.06 per diluted share for the year ended December 31, 2014. Net income for the fourth quarter of 2015 dipped slightly versus the fourth quarter of 2014, to $1,078,000 or $.05 per diluted share compared to net income of $1,550,000 or $.09 per diluted share. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. SVBI: 6.02 (-0.07)
Exploring Market Correlations - Research on BlueLinx, Severn Bancorp, Amtech and NetSol
ACCESSWIRE - Fri Dec 04, 7:27AM CST
NEW YORK, NY / ACCESSWIRE / December 4, 2015 / Moments ago, Trader's Choice released new research updates concerning several important developing situations including the following equities: BlueLinx Holdings Inc. (NYSE: BXC), Severn Bancorp Inc. (NASDAQ: SVBI), Amtech Systems Inc. (NASDAQ: ASYS) and NetSol Technologies Inc. (NASDAQ: NTWK). Trader's Choice has perfected the profitable art of picking stocks, cutting through the noise to deliver the top trade, every year. The full Research Packages are being made available to the public on a complimentary basis.
BXC: 7.20 (unch), NTWK: 5.82 (+0.03), ASYS: 5.78 (+0.17), SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces Termination of Formal Agreement Between Severn Savings Bank, FSB and the Comptroller of the Currency
PR Newswire - Fri Oct 16, 7:33AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company"
parent company of Severn Savings Bank, FSB ("Severn", today announced that Severn was informed by its primary regulator, the Office of the Comptroller of the Currency (the "OCC", that the formal written agreement between Severn and the OCC dated April 23, 2013 (the "Agreement", was terminated effective October 15, 2015. SVBI: 6.02 (-0.07)
Severn Savings Bank Appoints Christopher Chick Chief Lending Officer
PR Newswire - Wed Sep 23, 9:43AM CDT
Severn Bancorp, Inc., (Nasdaq SVBI) parent company of Severn Savings Bank, FSB ("Severn"
, today announced the appointment of Christopher Chick as Chief Lending Officer and Executive Vice President. SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Significant Increase in Earnings for the First Half of 2015
PR Newswire - Fri Jul 24, 10:04AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company"
parent company of Severn Savings Bank, FSB ("Severn", today announced net income of $1,365,000 or $.08 per share for the second quarter of 2015 compared to a net loss of $(576,000) or $(.12) per share for the second quarter of 2014. Earnings for the second quarter also increased by 58% compared to net income of $865,000 or $.03 per share for the first quarter of 2015. Year to date earnings improved significantly at $2,230,000 or $.10 per share for 2015 versus $291,000 or $(.09) per share for the same period of 2014. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. Another indication of numbers headed in the right direction came in the form of further decreases in non-performing assets. SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Announces First Quarter Earnings
PR Newswire - Fri Apr 24, 11:50AM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"
, today announced net income of $865,000 or $0.03 per share for the first quarter of 2015. Earnings were consistent with 2014 first quarter results of net income of $867,000 or $0.03 per share. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Increased Earnings for Fourth Quarter 2014
PR Newswire - Wed Jan 28, 3:22PM CST
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company"
parent company of Severn Savings Bank, FSB ("Severn", reported net income of $1,550,000 or $.10 per share for the fourth quarter of 2014, a 45% increase compared to net income of $1,068,000 or $.05 per share for the third quarter of 2014. Earnings for the fourth quarter of 2014 are also significantly higher than the reported fourth quarter 2013 net loss of $5,472,000 or ($0.58) per share. Fourth quarter earnings in 2013 were impacted by the loss on the sale of certain non-performing loans during the year. For the year ended December 31, 2014 the Company reported net income of $2,909,000 or $.06 per share versus a loss of $25,165,000 or ($2.64) per share for the year ended December 31, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. SVBI: 6.02 (-0.07)
Severn Bancorp, Inc. Reports Third Quarter 2014 Earnings
PR Newswire - Fri Oct 24, 12:14PM CDT
Severn Bancorp, Inc., (Nasdaq: SVBI) ("Company"
parent company of Severn Savings Bank, FSB ("Severn", reported net income of $1,068,000 or $.05 per share for the third quarter of 2014, compared to a net loss of $576,000 or ($.12) per share for the second quarter of 2014. Net income for the third quarter of 2014 is also significantly higher than the reported third quarter 2013 net loss of $20,548,000 or ($2.08) per share. The third quarter net loss in 2013 was impacted by the loss on the sale of certain non-performing commercial loans during the quarter. Year to date net income as of September 30, 2014 is $1,359,000 or ($.04) per share versus a year to date net loss of $19,695,000 or ($2.06) per share as of September 30, 2013. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. SVBI: 6.02 (-0.07)
