Net loss for the first quarter was
"Our first quarter results reflect the continued impact the current
recession has had on our economy and our industry. As a result, we recorded a
With approximately
For additional information or questions, please contact
Forward Looking Statements
In addition to the historical information contained herein, this press
release contains forward-looking statements that involve risks and
uncertainties that may be affected by various factors that may cause actual
results to differ materially from those in the forward-looking statements.
The forward-looking statements contained herein include, but are not limited
to, those with respect to management's determination of the amount of loan
loss allowance; the effect of changes in interest rates; and statements about
the economy. The words "anticipate," "believe," "estimate," "expect,"
"intend," "may," "plan," "will," "would," "could," "should," "guidance,"
"potential," "continue," "project," "forecast," "confident," and similar
expressions are typically used to identify forward-looking statements. The
Company's operations and actual results could differ significantly from those
discussed in the forward-looking statements. Some of the factors that could
cause or contribute to such differences include, but are not limited to,
changes in the economy and interest rates both in the nation and Company's
general market area, federal and state regulation, competition and other
factors detailed from time to time in the Company's filings with the
Securities and Exchange Commission (the "SEC"), including "Item 1A. Risk
Factors" contained in the Company's Annual Report on Form 10-K for the fiscal
year ended
SOURCE Severn Bancorp, Inc.