Severn Bancorp Inc., the parent company of Severn Savings Bank FSB, is acquiring Mid Maryland Title Co., a real estate settlement company that handles commercial and residential real estate settlements in Maryland.
Severn Bancorp says the acquisition continues its growth strategy and focus on being a full-service provider. The purchase is subject to the completion of due diligence and is anticipated to close in September 2017.
“Mid Maryland has provided great service for us in the past,” says Alan J. Hyatt, Severn’s president and CEO. “Bringing them into the Bancorp family of companies allows us to offer the full spectrum of services. This addition will be a complement to our mortgage services, our commercial banking services and our commercial real estate services provided by our other subsidiary, Hyatt Commercial.”
Severn Savings Bank provides residential and commercial mortgage lending services via five branches located in Annapolis, Edgewater, Glen Burnie and Severna Park, Md.