Severn Bancorp Inc
Business Description
Bancorp is a savings and loan holding company chartered as a corporation in the
state of Maryland in 1990. It conducts business primarily through two subsidiaries,
Severn Savings Bank, FSB (“Bank”) and SBI Mortgage Company (“SBI”).
The Bank’s principal subsidiary Louis Hyatt, Inc. (“Hyatt Commercial”),
conducts business as Hyatt Commercial, a commercial real estate brokerage and
property management company. SBI holds mortgages that do not meet the underwriting
criteria of the Bank, and is the parent company of Crownsville Development Corporation
(“Crownsville”), which is doing business as Annapolis Equity Group,
which acquires real estate for syndication and investment purposes.
|