On December 21, 2015, Severn Bancorp Inc. received a written letter of resignation from Michael H. Cook stating that he resigned, effective immediately, from his position on the Board of Directors of Bancorp and Severn Savings Bank, FSB. Mr. Cook served on the Corporate Governance Committee and the Nominating Committee of Bancorp's Board of Directors. Mr. Cook's decision to resign from the Boards was not a result of any dispute or disagreement with the companies on any matter relating to their operations, policies or practices.

Due to Mr. Cook's resignation from the Board of Bancorp, the Corporate Governance Committee is now comprised of Mary Kathleen Sulick (Chairwoman), James H. Johnson, Jr., Eric M. Keitz, and John A. Lamon III, and the Nominating Committee is now comprised of Raymond S. Crosby, James H. Johnson, Jr., Eric M. Keitz, John A. Lamon III, Albert W. Shields, Mary Kathleen Sulick and Konrad Wayson.