Severn Reports Profit

August 12, 1991

Severn Savings Bank, FSB, based in Annapolis, reported a net income of $418,000 for the six months ended June 30, 1991, the best January-to-June profit in the history of the bank.

In addition, Severn wasthe only Annapolis-based savings bank included in recent nationwide listing of savings institutions that, during 1990, met all regulatorycapital levels and showed profits.

The list was published in National Mortgage News.

A federal savings bank, Severn has branches at 1726 West Street,

Annapolis, and 413 Crain Highway, S.E., Glen Burnie.

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