S
SHORE BANCSHARES INC
Period
FY 2025
Revenue
—
Net Income
$59.51M
Total Assets
$6.26B
Equity
$589.87M
Shares Out
33.46M
Op. Cash Flow
$62.39M
Business
Shore Bancshares, Inc. operates Shore United Bank, N.A., providing consumer and commercial banking products, secondary mortgage lending, trust and wealth management services across Maryland, Delaware and Virginia through 40 branches and 10 loan production offices. The bank originates commercial real estate, residential real estate, construction and consumer loans; accepts deposits; offers treasury management services; and provides investment advisory and trust administration through third-party relationships.
Summary from 10-K filed 2026-03-02
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Interest and fees on loans | 281 | 270 | 194 | 99 | 65 | |
| Interest and dividends on taxable investment securities | 20 | 19 | 17 | 12 | 5 | |
| Interest and dividends on tax-exempt investment securities | 24,000 | 24,000 | 46,000 | 6,000 | — | |
| Interest on federal funds sold | 0 | 0 | 92,000 | 0 | — | |
| Interest on deposits with other banks | 9 | 6 | 3 | 3 | 368,000 | |
| Total interest income | 310 | 295 | 214 | 114 | 70 | |
| Interest on deposits | 109 | 115 | 69 | 10 | 4 | |
| Interest on short-term borrowings | 2 | 2 | 6 | 74,000 | 8,000 | |
| Interest on long-term borrowings | 6 | 7 | 4 | 2 | 2 | |
| Total interest expense | 118 | 125 | 79 | — | — | |
| NET INTEREST INCOME | 192 | 171 | 135 | 101 | 64 | |
| Provision for credit losses | 8 | 5 | 31 | 2 | −358,000 | |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 184 | 166 | 104 | 99 | 64 | |
| Service charges on deposit accounts | 6 | 6 | 6 | 6 | 3 | |
| Trust and investment fee income | 4 | 3 | 4 | 2 | 2 | |
| Mortgage banking revenue | 6 | 6 | 5 | 5 | 948,000 | |
| Interchange credits | 7 | 7 | 6 | 5 | 4 | |
| Bank-owned life insurance income | 4 | 3 | 2 | — | — | |
| Bargain purchase gain | 0 | 0 | 9 | 0 | — | |
| Other noninterest income | 6 | 6 | 3 | 4 | 3 | |
| Total noninterest income | 33 | 31 | 33 | 23 | 13 | |
| Salaries and employee benefits | 71 | 67 | 57 | 36 | 21 | |
| Occupancy expense | 10 | 10 | 8 | 6 | 4 | |
| Furniture and equipment expense | 3 | 3 | 3 | 2 | 2 | |
| Software and data processing | 20 | 18 | 12 | 7 | 5 | |
| Amortization of other intangible assets | 9 | 10 | 6 | 2 | 734,000 | |
| Legal and professional fees | 5 | 6 | 4 | 3 | 2 | |
| FDIC insurance premium expense | 4 | 4 | 3 | 1 | 1 | |
| Marketing and advertising | 1 | 1 | 1 | — | — | |
| Fraud losses | 460,000 | 5 | 879,000 | — | — | |
| Merger-related expenses | 0 | 0 | 17 | 2 | 9 | |
| Other noninterest expense | 14 | 15 | 10 | 10 | 5 | |
| Total noninterest expense | 138 | 138 | 123 | 80 | 57 | |
| Income before income taxes | 79 | 59 | 14 | 42 | 21 | |
| Income tax expense | 19 | 15 | 3 | 11 | 6 | |
| NET INCOME | 60 | 44 | 11 | 31 | 15 | |
| Basic net income per common share (in dollars per share) | 1.78 | 1.32 | 0.42 | 1.57 | 1.17 | |
| Diluted net income per common share (in dollars per share) | 1.78 | 1.32 | 0.42 | 1.57 | 1.17 | |
| Dividends paid per common share (in dollars per share) | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-06-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 50 | 44 | 63 | — | 38 | |
| Interest-bearing deposits with other banks | 305 | 416 | 309 | — | 18 | |
| Cash and cash equivalents | 356 | 460 | 372 | — | 55 | |
| Available for sale, at fair value (amortized cost of $226,677 and $159,593 at December 31, 2025 and December 31, 2024, respectively) | 220 | 149 | 111 | — | 84 | |
| Held to maturity, net of allowance for credit losses of $99 and $203 (fair value of $378,116 and $424,734 at December 31, 2025 and December 31, 2024, respectively) | 415 | 481 | 513 | — | 559 | |
| Equity securities, at fair value | 6 | 6 | — | — | — | |
| Restricted securities, at cost | 18 | 20 | 18 | — | 11 | |
| Loans held for sale, at fair value | 33 | 20 | 9 | — | 4 | |
| Loans held for investment | 4,900 | 4,772 | 4,641 | — | 2,556 | |
| Less: allowance for credit losses | −59 | −58 | −57 | −36 | −17 | |
| Loans, net | 4,841 | 4,714 | 4,584 | — | 2,539 | |
| Premises and equipment, net | 80 | 82 | 82 | — | 51 | |
| Goodwill | 63 | 63 | 63 | — | 63 | |
| Other intangible assets, net | 30 | 38 | 48 | — | 6 | |
| Right-of-use assets | 11 | 11 | 12 | — | 10 | |
| Cash surrender value on life insurance | 106 | 104 | 102 | — | 59 | |
| Accrued interest receivable | 19 | 20 | 19 | — | 9 | |
| Deferred income taxes | 30 | 32 | 41 | — | 7 | |
| Other assets | 32 | 30 | 25 | — | 11 | |
| TOTAL ASSETS | 6,259 | 6,231 | 6,011 | — | 3,477 | |
| Noninterest-bearing | 1,588 | 1,563 | 1,258 | — | 862 | |
| Interest-bearing checking | 853 | 978 | 1,166 | — | — | |
| Money market and savings | 1,815 | 1,806 | 1,778 | — | — | |
| Time deposits | 1,267 | 1,182 | 1,185 | — | — | |
| Brokered deposits | 11 | 0 | — | — | — | |
| Total deposits | 5,534 | 5,528 | 5,386 | — | 3,010 | |
| FHLB advances | 0 | 50 | 0 | — | — | |
| Guaranteed preferred beneficial interest in junior subordinated debentures (TRUPS), net | 30 | 30 | 30 | — | 18 | |
| Subordinated debt, net | 59 | 44 | 43 | — | 25 | |
| Total borrowings | 89 | 124 | 73 | — | 83 | |
| Lease liabilities | 11 | 12 | 13 | — | 10 | |
| Other liabilities | 35 | 26 | 28 | — | 10 | |
| TOTAL LIABILITIES | 5,669 | 5,690 | 5,500 | — | 3,113 | |
| COMMITMENTS AND CONTINGENCIES (Note 18) | — | — | — | — | — | |
| Common stock, $0.01 par value per share; shares authorized 50,000,000; shares issued and outstanding 33,413,503 and 33,332,177 at December 31, 2025 and December 31, 2024, respectively | 334,000 | 333,000 | 332,000 | — | 199,000 | |
| Additional paid-in capital | 361 | 358 | 356 | — | 201 | |
| Retained earnings | 234 | 190 | 162 | — | 172 | |
| Accumulated other comprehensive loss | −5 | −8 | −7 | — | −9 | |
| TOTAL STOCKHOLDERS EQUITY | 590 | 541 | 511 | — | 364 | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | 6,259 | 6,231 | 6,011 | — | 3,477 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net accretion of acquisition accounting estimates | −12 | −15 | −9 | −2 | −440,000 | |
| Depreciation and amortization | 15 | 16 | 11 | 6 | 3 | |
| Net amortization of securities | 86,000 | −546,000 | 838,000 | 1 | 2 | |
| Amortization of debt issuance costs | 120,000 | 122,000 | 122,000 | 122,000 | 123,000 | |
| Gain on mortgage loans held for sale | −6 | −5 | −3 | −4 | −918,000 | |
| Loss (gain) on other mortgage loan activity | 6,000 | −220,000 | −499,000 | — | — | |
| Proceeds from sale of mortgage loans held for sale | 183 | 170 | 122 | 131 | 16 | |
| Originations of loans held for sale | −191 | −176 | −123 | −102 | −42 | |
| Stock-based compensation expense | 2 | 2 | 1 | 636,000 | 378,000 | |
| Deferred income tax expense | 922,000 | 9 | 3 | −1 | 278,000 | |
| Loss on sales and calls of securities | 0 | 0 | 2 | 0 | — | |
| Loss (gain) on sales and valuation adjustments of repossessed assets | 857,000 | −3,000 | 0 | — | — | |
| Loss on valuation adjustments on mortgage servicing rights | 858,000 | 361,000 | 251,000 | — | — | |
| Loss on disposal of fixed assets | 358,000 | 10,000 | 0 | — | — | |
| Loss (gain) on disposal of premises held for sale | 61,000 | −737,000 | 0 | 183,000 | 4,000 | |
| Valuation adjustments on premises transferred to held for sale | 0 | 289,000 | 272,000 | 0 | — | |
| Loss (gain) on sales and valuation adjustments on other real estate owned | 66,000 | 0 | −3,000 | 44,000 | 2,000 | |
| Fair value adjustment on equity securities | −189,000 | 55,000 | −54,000 | 157,000 | 40,000 | |
| Accrued interest receivable | 1 | −353,000 | −724,000 | −3 | 2 | |
| Other assets | −4 | 5 | −11 | −1 | −3 | |
| Accrued interest payable | −421,000 | −1 | 2 | 297,000 | −5,000 | |
| Other liabilities | 7 | −2 | −4 | −6 | 2 | |
| Net cash provided by operating activities | 62 | 47 | 23 | 53 | −8 | |
| Proceeds from maturities and principal payments of available for sale securities | 27 | 71 | 18 | 20 | 41 | |
| Proceeds from the sale of acquired available for sale securities | 0 | 0 | 434 | 0 | — | |
| Proceeds from maturities and principal payments of held to maturity securities | 68 | 49 | 45 | 52 | 40 | |
| Proceeds from life insurance death benefits | 3 | 150,000 | 0 | — | — | |
| Purchases of available for sale securities | −94 | −109 | −33 | 0 | — | |
| Purchases of held to maturity securities | −2 | −18 | 0 | −208 | −256 | |
| Proceeds from sale of loans held for investment | 0 | 0 | 9 | — | — | |
| Purchases of equity securities | −183,000 | −166,000 | −79,000 | −18,000 | −17,000 | |
| Purchase of restricted securities | −3 | −36 | −35 | −9 | — | |
| Net change in loans | −123 | −123 | −317 | −427 | — | |
| Purchases of premises and equipment | −3 | −5 | −6 | −2 | −3 | |
| Proceeds from sales of other real estate owned | 0 | 0 | 21,000 | 394,000 | — | |
| Proceeds from sales of repossessed assets | 3 | 2 | 0 | — | — | |
| Redemption of restricted securities | 6 | 34 | 33 | 2 | 437,000 | |
| Purchases of bank owned life insurance | −322,000 | −210,000 | −249,000 | −10 | −10 | |
| Proceeds from disposal of premises held for sale | 843,000 | 946,000 | 721,000 | 0 | — | |
| Cash acquired in the acquisition of TCFC, net of cash paid | 0 | 0 | 25 | 0 | — | |
| Net cash (used in) provided by investing activities | −118 | −135 | 172 | −582 | 38 | |
| Noninterest-bearing deposits | 25 | 305 | −193 | −65 | 36 | |
| Interest-bearing deposits | −22 | −164 | 436 | 50 | 335 | |
| Short-term borrowings | −50 | 0 | −109 | 36 | 3 | |
| Long-term borrowings | 0 | 50 | 0 | — | — | |
| Proceeds from issuance of subordinated debt, net of issuance costs | 59 | 0 | 0 | — | — | |
| Redemption of subordinated debt | −45 | 0 | 0 | — | — | |
| Common stock dividends paid | −16 | −16 | −13 | −10 | — | |
| Issuance of common stock | 82,000 | 376,000 | 385,000 | — | — | |
| Net cash (used in) provided by financing activities | −48 | 175 | 122 | 811,000 | 366 | |
| Net (decrease) increase in cash and cash equivalents | −104 | 87 | 317 | −528 | 397 | |
| Interest paid | 115 | 124 | 74 | 13 | 6 | |
| Income taxes paid | 15 | 0 | 7 | 12 | 6 | |
| Recognition of lease liabilities arising from right-of-use assets | 1 | 566,000 | 179,000 | — | — | |
| Transfers from loans to repossessed assets | 3 | 5 | 0 | 69,000 | — | |
| Transfer from loans held for sale to loans held for investment | 649,000 | 0 | 0 | 8 | — | |
| Transfer of premises to held for sale, included in other assets | 0 | 1 | 750,000 | — | — |
Filings
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Frequently asked questions
What is SHORE BANCSHARES INC's CIK number?
SHORE BANCSHARES INC's SEC CIK number is 0001035092 (1035092). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find SHORE BANCSHARES INC's SEC filings?
All of SHORE BANCSHARES INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did SHORE BANCSHARES INC last report earnings?
SHORE BANCSHARES INC (SHBI) most recently filed an earnings 8-K with the SEC on Apr 23, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001035092-26-000023). This is SHORE BANCSHARES INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is SHORE BANCSHARES INC's most recent earnings 8-K?
SHORE BANCSHARES INC's latest earnings 8-K (Item 2.02) was filed Apr 23, 2026 under accession 0001035092-26-000023. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
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