Shore Bancshares, Inc. Announces Completion Of Acquisition Of Severn Bancorp, Inc.
Acquiring Company
SHORE BANCSHARES
EastonFinancial ServicesLending And InvestmentsFinanceLendingBankingDescription
Shore Bancshares, Inc. (NASDAQ: SHBI) (the "Company" or "Shore"), the holding company of Shore United Bank, National Association (the "Shore United"), announced today that it has completed the acquisition, effective as of October 31, 2021, of Severn Bancorp, Inc. (NASDAQ: SVBI) ("Severn"), the savings and loan holding company of Severn Savings Bank, FSB, a federally chartered savings bank headquartered in Annapolis, Maryland. In connection with the merger, Shore United consummated its conversion to a national bank on October 29, 2021.
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