Severn Bancorp, Inc. (NASDAQ:SVBI) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03
Severn Bancorp, Inc. (NASDAQ:SVBI) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Effective on March 24, 2020, the Board of Directors of Severn Bancorp, Inc. (the “Company”) amended the Company’s Bylaws (Article II, Section 1) to allow the Board of Directors to choose no place for the location of a meeting of shareholders and instead use means of remote communication to hold an annual or special meeting of shareholders. This bylaw amendment will allow the Company to conduct virtual meetings of shareholders as permitted by Maryland law. The Amended and Restated Bylaws of the Company are filed hereto as Exhibit 3.2.
SEVERN BANCORP INC Exhibit
EX-3.2 2 ex3_2.htm EXHIBIT 3.2 Exhibit 3.2 BYLAWS OF SEVERN BANCORP,…
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EX-3.2 2 ex3_2.htm EXHIBIT 3.2 Exhibit 3.2 BYLAWS OF SEVERN BANCORP,…
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here
About Severn Bancorp, Inc. (NASDAQ:SVBI)
Severn Bancorp, Inc. is a savings and loan holding company. The Company conducts business through its subsidiaries, Severn Savings Bank, FSB (the Bank) and SBI Mortgage Company (SBI). The Bank offers a range of deposit products and originates mortgages in its market of Anne Arundel County, Maryland and in other parts of Maryland, Delaware and Virginia. SBI is engaged in the origination of mortgages not suitable for the Bank. SBI owns subsidiary companies that purchase real estate for investment purposes. The Bank provides a range of personal and commercial banking services. Personal services include mortgage lending and various other lending services, as well as checking, savings, money market, time deposit and individual retirement accounts. Commercial services include commercial secured and unsecured lending services, as well as business Internet banking, corporate cash management services and deposit services.