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EX-99.1 - EXHIBIT 99.1 - SEVERN BANCORP INCex99_1.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event report)
May 3, 2016
  

Severn Bancorp, Inc.
(Exact name of registrant as specified in its charter)

Maryland
0-49731
52-1726127
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification Number)

200 Westgate Circle, Suite 200, Annapolis, Maryland
 
21401
(Address of principal executive offices)
 
(Zip Code)
 
410-260-2000
(Registrant’s telephone number, including area code)

(Former name or former address, if change since last report)

Check the appropriate box below if the Form8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Severn Bancorp Inc., (NASDAQ: SVBI) (“Bancorp”) parent company of Severn Savings Bank, FSB (the “Severn”), today announced that Thomas G. Bevivino has advised Bancorp and Severn of his intention to step down as Executive Vice President and Chief Financial Officer once a successor is identified and appointed.  Mr. Bevivino will remain with the company to assist with the CFO succession for a transition period prior to his planned retirement at the end of June 2016.  Bancorp has initiated a search to identify a replacement for Mr. Bevivino.

A copy of the press release announcing Mr. Bevivino’s retirement is attached as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits:

Press release of Severn Bancorp, Inc. dated May 3, 2016 announcing the retirement of Mr. Thomas G. Bevivino

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
Severn Bancorp, Inc.
     
Dated:  May 3, 2016
By:
 /Alan J. Hyatt/
   
Alan J. Hyatt, President