Severn Bancorp in Annapolis, Md., has agreed to buy Mid Maryland Title Co. in Annapolis.
The $799 million-asset Severn said in a press release Monday that it expects to complete the acquisition in September. It did not disclose the price it will pay.
“Mid Maryland has provided great service for us in the past,” Alan Hyatt, Severn’s president and CEO, said in the release.
Severn said the acquisition should complement the mortgage, commercial banking and commercial real estate services provided by its Hyatt Commercial unit.