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ANNAPOLIS, Md., April 23, 2021 /PRNewswire/ Severn Bancorp, Inc. (the Company) (NASDAQ: SVBI), the parent company of Severn Bank (the Bank), reported net income of $3.9 million for the first quarter ended March 31, 2021 compared to $565 thousand for the first quarter of 2020. Earnings per share on a fully diluted basis were $0.30 compared to $0.04 for the quarters ended March 31, 2021 and 2020, respectively.
Reaction to COVID-19
Protocols remain in place for employees and customers concerning the impact of the COVID-19 pandemic. They include remote working, social distancing, wearing masks, appointment-only branch banking, and following other protocols that are designed to avoid COVID-19 exposure.
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ANNAPOLIS, Md., Feb. 1, 2021 /PRNewswire/ Severn Bancorp, Inc. (the Company) (NASDAQ: SVBI), the parent company of Severn Bank (the Bank), reported net income of $2.5 million for the fourth quarter ended December 31, 2020 and $6.7 million for the year ended December 31, 2020 compared to $1.2 million and $8.3 million for the same periods in 2019. Earnings per share on a fully diluted basis were $0.20 for the fourth quarter and $0.52 per share for the year ended 2020, down from $0.09 and $0.64 per share, respectively, from the fourth quarter and year ended 2019.
Response to COVID-19
The Company continues to monitor the impact of the COVID-19 pandemic and is attempting to keep employees and customers safe through remote working, social distancing, wearing masks, appointment-only branch banking, and following other protocols that are designed to avoid COVID-19 exposure.