Severn Bancorp, Inc. Announces First Quarter Earnings

ANNAPOLIS, Md., April 26, 2017

Total assets increased by $11.3 million to $798.7 million as of March 31, 2017 compared to $787.4 million as of December 31, 2016. Loans remained flat at $609.7 million as of March 31, 2017 versus $610.3 million as of December 31, 2016. Deposits increased by $21.8 million to $593.8 million as of March 31, 2017, an increase of 3.8% over December 31, 2016. Borrowings decreased by $10 million during the quarter ended March 31, 2017 as the bank continues to pay down its FHLB borrowings.  

"We are committed to increasing shareholder value," stated Alan J. Hyatt, President and Chief Executive Officer. Mr. Hyatt continued, "We are focused on increasing revenue and driving loan growth. We are committed to Anne Arundel County and providing excellent service to the residents and local businesses. Our team is building relationships and representing Severn well in the community. We see a lot of opportunity for a successful remainder of the year."

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 $798.7 million and five branches located in Annapolis, Edgewater, Severna Park 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, 2016.