Company Profile
- Shore Bancshares, Inc. (NASDAQ: SHBI) (“Shore” or “the company”) is the BHC for main subsidiary, Shore United Bank, N.A. (“the bank”), which operates 42 branches primarily throughout Maryland (headquartered in Easton). Following the recent merger-of-equals (MOE) with The Community Financial Corporation, Inc. (“TCFC”) in 3Q23, SHBI reflects meaningful scale, with nearly $6 billion in assets, and a notable presence in the Eastern Shore of MD (legacy SHBI) and Southern MD (legacy TCFC). Shore also has a solidified presence in contiguous DE counties, and a growing presence in Central VA. The bank’s legacy footprint was largely consisted of more rural demographics and affluent shoreline communities, though from recent M&A, SHBI is currently positioned near higher growth markets, including Annapolis, Baltimore, and DC.
- Founded in 1996, Shore’s historical growth strategy was organically focused, though in recent years, management has been opportunistic…