Severn Bancorp Inc/md (SVBI) Reports Q1 EPS of $0.03

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Go back to Severn Bancorp Inc/md (SVBI) Reports Q1 EPS of $0.03

Severn Bancorp, Inc. Announces First Quarter Earnings

April 27, 2016 12:27 PM EDT

ANNAPOLIS, Md., April 27, 2016 /PRNewswire/ -- Severn Bancorp, Inc., (Nasdaq: SVBI) parent company of Severn Savings Bank, FSB ("Severn"), today announced net income of $907,000 or $0.03 per share for the first quarter of 2016, a slight increase from net income of $865,000 or $0.03 per share for the first quarter 2015. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends and discount amortization. Severn's loan portfolio also experienced a moderate increase from year end results, and non-performing assets and loan delinquencies... More