Company Profile
- Founded in 1996, Shore Bancshares, Inc. (NASDAQ: SHBI) (“Shore” or “the company”) is the holding company for the main subsidiary, Shore United Bank, N.A. (“the bank”), which operates 40 branches primarily throughout Maryland (headquartered in Easton). Following the merger-of-equals (MOE) with The Community Financial Corporation, Inc. (“TCFC”) in 3Q23, SHBI reflects meaningful scale, and a notable presence in the Eastern Shore of MD and Southern MD, as well as contiguous DE counties and Central VA.
- Shore’s historical growth strategy was organically focused, though in recent years, management has been opportunistic with M&A, including two transformative deals since 2021, with the addition of $950 million-asset Severn Bancorp, Inc. in 4Q21, which bolstered its presence in Central MD and provided an entrance into Annapolis, MD. Moreover, as noted, the MOE with TCFC added $2.4 billion in assets and expanded the footprint into Southern MD and…
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