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 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 and Southern MD. Shore also has a solidified presence in contiguous DE counties, and a growing presence in Central VA. The bank’s legacy footprint 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 Washington, D.C.
Founded in 1996, Shore’s historical growth strategy was organically focused, though in recent years, management has been opportunistic with M&A, including two…
Log in or Sign up for free access to this report.
KBRA is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the United States and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.