Severn Bancorp to Purchase Maryland-based Title Company

July 11, 2017

Severn Bancorp Inc., parent company of Severn Savings Bank, announced that it has entered into a definitive agreement to purchase Mid Maryland Title Company, a real estate settlement company in Maryland. The purchase is subject to the completion of due diligence and is anticipated to close in September 2017.

"I have worked with Severn Bank for years and hold the staff in the highest regard,” said Jerome Feldman, co-founder of Mid Maryland Title. “This merger is an excellent opportunity to bring the companies together to benefit the community."

This acquisition continues Severn Bancorp's growth strategy and focus on being a full-service provider, the company said in a release. Severn Savings Bank, which was founded in 1946, has assets of approximately $799 million and operates five branches located in Annapolis, Edgewater, Glen Burnie and Severna Park, Md.

"Mid Maryland has provided great service for us in the past,” said Alan J. Hyatt, president and chief executive officer of Severn Bancorp. “Bringing them into the Bancorp family of companies allows us to offer the full spectrum of services. This addition will be a complement to our mortgage services, our commercial banking services and our commercial real estate services provided by our other subsidiary, Hyatt Commercial."

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