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Shore Bancshares Inc (OQ:SHBI)

Business Focus: Banks

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 18 East Dover Street
EASTON MD 21601-3013
Tel: 1-240-4271036
Website: N/A
IR: N/A
Key People
James M. Burke
President, Chief Executive Officer, Director
Charles E. Ruch
Executive Vice President and Chief Credit Officer
Austin Joseph Slater
Vice Chairman of the Board
Todd L. Capitani
Chief Financial Officer
Donna J. Stevens
Chief Operating Officer, Executive Vice President
Christa J. Heron
Executive Vice President, Chief Risk Officer
W. David Morse
Executive Vice President, General Counsel, Assistant Secretary
Andrea E. Colender
Executive Vice President, Chief Legal Officer and Secretary
Michael T. Cavey
Executive Vice President and Chief Lending Officer
Jennifer M. Joseph
Executive Vice President and Chief Retail Banking Officer
   
Business Overview
Shore Bancshares, Inc. is a financial holding company. The Company conducts business primarily through two wholly owned subsidiaries, Shore United Bank, N.A. (the Bank) and Mid-Maryland Title Company, Inc. (the Title Company). The Bank provides consumer and commercial banking products and services and secondary mortgage lending, trust, wealth management and financial planning services. The Bank is a national banking association chartered, which operates 42 full-service branches, 42 automatic teller machines (ATM), three interactive teller machines, five loan production offices. The Bank provides a full range of commercial and consumer banking products and services to individuals, businesses, and other organizations in Baltimore County, Howard County, Kent County, Queen Annes County, Caroline County, Talbot County, Dorchester County, Anne Arundel County, Charles County, St Marys County and others. The Title Company engages in title work related to real estate transactions.
Financial Overview
For the fiscal year ended 31 December 2023, Shore Bancshares Inc interest income increased 88% to $214.1M. Net interest income after loan loss provision increased 5% to $104.4M. Net income decreased 64% to $11.2M. Net interest income after loan loss provision reflects Community bankiing segment increase from $0K to $104.4M. Net income was offset by Interest on deposits increase from $10M to $68.8M (expense).