On June 10, 2019, Paul B. Susie resigned as Executive Vice President and Chief Financial Officer of Severn Bancorp, Inc., and its savings bank subsidiary, Severn Savings Bank, FSB. The Bank has entered into a Separation Agreement and Release with Mr. Susie. The Company and the Bank have appointed Marc Winkler, age 63, Interim Chief Financial Officer effective June 10, 2019.

During 2019, Mr. Winkler has worked as a consultant with CFO Consulting Partners, LLC (“CFO Consulting Partners”). From 2015 until 2019, Mr. Winkler worked as a consultant for the P&G Group, which included P&G Associates and GRC Risk Solutions. From 2018 until 2019, he was the Director of Strategic Advisory Consulting Services for GRC Risk Solutions.