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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: https://www.shoreunitedbank.com
IR: See website
Key People
James M. Burke
President, Chief Executive Officer, Director
Todd L. Capitani
Chief Financial Officer, Executive Vice President
Donna J. Stevens
Chief Operating Officer, Executive Vice President
Christy Lombardi
Chief Human Resource Officer, Executive Vice President
Lacey Pierce
Executive Vice President, Chief Administrative Officer
Talal Tay
Executive Vice President, Chief Risk Officer
Andrea E. Colender
Executive Vice President, Chief Legal Officer and Secretary
B. Scot Ebron
Executive Vice President and Chief Banking Officer
Charles E. Ruch
Executive Vice President and Chief Credit 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 three months ended 31 March 2024, Shore Bancshares Inc interest income increased from $35.1M to $71.1M. Net interest income after loan loss provision increased 67% to $40.7M. Net income increased 27% to $8.2M. Net interest income after loan loss provision reflects Interest and fees on loans increase from $30.8M to $65.8M, Interest on deposits with other banks increase from $163K to $960K.