Severn Bancorp Announces Q4 EPS of $.02

Severn Bancorp, Inc., SVBI parent company of Severn Savings Bank, FSB, today announced net income of $607,000 for the fourth quarter, an increase of $3.3 million compared to a net loss of $2.7 million for the fourth quarter of 2009 . Net income was $1.2 million, or ($.06) per share for the year ended December 31, 2010, compared to a net loss of $15.2 million, or ($1.68) per share for the year ended December 31, 2009. Earnings per share is calculated using net income available for common shareholders, which is net income less preferred stock dividends. At December 31, 2010, Severn also continued its trend of regulatory capital ratios exceeding the levels required to be considered "well capitalized" under applicable federal banking regulations, including its core (leverage) ratio of approximately 12.3% compared to the regulatory requirement of 5% for "well capitalized" status.