NASDAQ : SHBI
Shore Bancshares, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 22.38 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 745.37M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 286.71M | 280.60M | 269.63M | 194.34M | 99.12M | 64.80M |
| Interest Income on Investments | 29.79M | 29.42M | 25.71M | 19.74M | 14.72M | 5.37M |
| Total Interest Income | 316.50M | 310.03M | 295.34M | 214.08M | 113.84M | 70.17M |
| Interest Paid on Deposits | 97.83M | 109.20M | 115.30M | 68.80M | 9.98M | 4.46M |
| Interest Paid on Borrowings | 7.17M | 8.45M | 9.49M | 9.97M | 2.56M | 1.58M |
| Total Interest Expense | 105.00M | 117.65M | 124.79M | 78.77M | 12.54M | 6.04M |
| Net Interest Income | 211.50M | 192.38M | 170.55M | 135.31M | 101.30M | 64.13M |
| Trust Income | 4.40M | 3.71M | 3.37M | 3.61M | 1.78M | 1.88M |
| Mortgage Banking Activities | 5.34M | 6.08M | 5.99M | 4.51M | 5.21M | 948.00K |
| Gain (Loss) on Sale of Investments | 2.00K | |||||
| Other Non-Interest Income | 15.58M | 16.61M | 15.64M | 10.72M | 10.44M | 7.27M |
| Total Non-Interest Income | 31.96M | 32.69M | 31.15M | 24.34M | 23.09M | 13.50M |
| Revenues Before Loan Losses | 243.46M | 225.06M | 201.70M | 159.65M | 124.39M | 77.63M |
| Provision for Loan Losses | 9.08M | 8.38M | 4.74M | 30.95M | 1.93M | -358.00K |
| Revenue | 234.38M | 216.69M | 196.96M | 128.70M | 122.46M | 77.99M |
| Salaries and Employee Benefits | 73.27M | 69.52M | 64.85M | 55.83M | 45.20M | 28.11M |
| Federal Deposit Insurance | 3.61M | 3.75M | 4.41M | 3.48M | 1.43M | 1.01M |
| Amortization of Goodwill & Intangibles | 7.70M | 8.59M | 9.78M | 6.11M | 1.99M | 734.00K |
| Selling, General & Administrative | 43.24M | 41.35M | 39.54M | 29.41M | 19.46M | 13.32M |
| Other Non-Interest Expense | 14.94M | 14.37M | 14.68M | 10.27M | 10.08M | 5.09M |
| Total Non-Interest Expense | 142.76M | 137.57M | 133.26M | 105.09M | 78.22M | 48.28M |
| EBT Excluding Unusual Items | 91.63M | 79.11M | 63.70M | 23.60M | 44.24M | 29.71M |
| Other Unusual Items | -730.00K | -460.00K | -5.00M | 7.94M | ||
| Pretax Income | 90.90M | 78.66M | 58.70M | 14.18M | 42.14M | 21.18M |
| Income Tax Expense | 22.29M | 19.15M | 14.81M | 2.96M | 10.96M | 5.81M |
| Earnings From Continuing Operations | 68.61M | 59.51M | 43.89M | 11.23M | 31.18M | 15.37M |
| Net Income | 68.61M | 59.51M | 43.89M | 11.23M | 31.18M | 15.37M |
| Net Income to Common | 68.61M | 59.51M | 43.89M | 11.23M | 31.18M | 15.37M |
| Basic Shares Outstanding | 33.42M | 33.39M | 33.27M | 26.57M | 19.85M | 13.12M |
| Diluted Shares Outstanding | 33.45M | 33.41M | 33.29M | 26.57M | 19.85M | 13.12M |
| EPS (Basic) | 2.05 | 1.78 | 1.32 | 0.42 | 1.57 | 1.17 |
| EPS (Diluted) | 2.05 | 1.78 | 1.32 | 0.42 | 1.57 | 1.17 |
| Dividend Per Share | 0.52 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| Effective Tax Rate | 24.52% | 24.35% | 25.24% | 20.84% | 26.02% | 27.44% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 455.05M | 355.57M | 459.85M | 372.41M | 55.50M | 583.61M |
| Investment Securities | 6.03M | 143.22M | 176.96M | 187.51M | 181.87M | 127.71M |
| Trading Asset Securities | 102.00K | 277.00K | 112.00K | 76.00K | ||
| Mortgage-Backed Securities | 737.02M | 498.16M | 459.14M | 441.90M | 462.40M | 395.24M |
| Total Investments | 743.05M | 641.47M | 636.38M | 629.52M | 644.35M | 522.95M |
| Gross Loans | 4.90B | 4.98B | 4.86B | 4.75B | 2.56B | 2.12B |
| Allowance for Loan Losses | -59.55M | -58.84M | -57.91M | -57.35M | -16.64M | -13.94M |
| Other Adjustments to Gross Loans | -78.20M | -92.00M | -113.10M | -6.70M | -516.00K | |
| Net Loans | 4.84B | 4.84B | 4.71B | 4.58B | 2.54B | 2.11B |
| Property, Plant & Equipment | 88.37M | 90.69M | 93.19M | 94.87M | 61.12M | 62.99M |
| Goodwill | 63.27M | 63.27M | 63.27M | 63.27M | 63.27M | 63.42M |
| Other Intangible Assets | 24.03M | 29.72M | 38.31M | 48.09M | 5.55M | 7.54M |
| Loans Held for Sale | 14.87M | 32.54M | 19.61M | 8.78M | 4.25M | 37.75M |
| Accrued Interest Receivable | 20.89M | 18.55M | 19.57M | 19.22M | 9.38M | 6.72M |
| Other Receivables | 616.00K | |||||
| Other Current Assets | 2.87M | |||||
| Long-Term Deferred Tax Assets | 32.59M | 29.82M | 31.86M | 40.71M | 7.36M | 2.93M |
| Other Real Estate Owned & Foreclosed | 13.47M | 197.00K | 532.00K | |||
| Other Long-Term Assets | 155.67M | 155.72M | 154.65M | 150.39M | 86.85M | 62.99M |
| Total Assets | 6.45B | 6.26B | 6.23B | 6.01B | 3.48B | 3.46B |
| Accounts Payable | 2.75M | |||||
| Accrued Expenses | 3.42M | |||||
| Interest Bearing Deposits | 4.08B | 3.54B | 3.59B | 3.77B | 2.15B | 2.10B |
| Institutional Deposits | 403.50M | 374.10M | 354.60M | |||
| Non-Interest Bearing Deposits | 1.62B | 1.59B | 1.56B | 1.26B | 862.01M | 927.50M |
| Total Deposits | 5.70B | 5.53B | 5.53B | 5.39B | 3.01B | 3.03B |
| Short-Term Borrowings | 60.00K | 23.00K | 176.00K | 40.01M | 4.14M | |
| Current Portion of Leases | 2.02M | |||||
| Accrued Interest Payable | 692.00K | |||||
| Long-Term Debt | 58.89M | 58.89M | 43.87M | 43.14M | 24.67M | 42.76M |
| Federal Home Loan Bank Debt, Long-Term | 50.00M | 10.13M | ||||
| Long-Term Leases | 9.83M | 9.01M | 11.84M | 12.86M | 9.91M | 11.57M |
| Trust Preferred Securities | 30.41M | 30.17M | 29.85M | 29.53M | 18.40M | |
| Other Long-Term Liabilities | 39.61M | 34.93M | 25.78M | 27.96M | 10.21M | 7.74M |
| Total Liabilities | 5.84B | 5.67B | 5.69B | 5.50B | 3.11B | 3.11B |
| Common Stock | 333.00K | 334.00K | 333.00K | 332.00K | 199.00K | 198.00K |
| Additional Paid-In Capital | 357.21M | 360.55M | 358.11M | 356.01M | 201.49M | 200.47M |
| Retained Earnings | 272.85M | 233.58M | 190.17M | 162.29M | 171.61M | 149.97M |
| Comprehensive Income & Other | -11.09M | -4.59M | -7.54M | -7.49M | -9.02M | 56.00K |
| Shareholders' Equity | 619.30M | 589.87M | 541.07M | 511.13M | 364.29M | 350.69M |
| Total Liabilities & Equity | 6.45B | 6.26B | 6.23B | 6.01B | 3.48B | 3.46B |
| Total Debt | 99.13M | 100.15M | 135.58M | 85.70M | 92.99M | 68.61M |
| Net Cash (Debt) | 355.92M | 255.52M | 324.54M | 286.82M | -37.42M | 515.01M |
| Net Cash Per Share | 10.64 | 7.65 | 9.75 | 10.79 | -1.89 | 39.26 |
| Filing Date Shares Outstanding | 33.31M | 33.42M | 33.35M | 33.21M | 19.90M | 19.84M |
| Total Common Shares Outstanding | 33.31M | 33.41M | 33.33M | 33.16M | 19.85M | 19.81M |
| Book Value Per Share | 18.59 | 17.65 | 16.23 | 15.41 | 18.35 | 17.71 |
| Tangible Book Value | 532.01M | 496.88M | 439.49M | 399.78M | 295.47M | 279.74M |
| Tangible Book Value Per Share | 15.97 | 14.87 | 13.19 | 12.06 | 14.89 | 14.12 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 59.51M | 43.89M | 11.23M | 31.18M | 15.37M | |
| Depreciation & Amortization | 15.33M | 16.04M | 10.94M | 5.86M | 3.09M | |
| Other Amortization | 120.00K | 122.00K | 122.00K | 122.00K | 123.00K | |
| Gain (Loss) on Sale of Assets | 1.34M | -441.00K | 269.00K | 227.00K | 6.00K | |
| Gain (Loss) on Sale of Investments | -103.00K | -491.00K | 2.95M | 1.57M | 1.62M | |
| Provision for Credit Losses | 8.38M | 4.74M | 30.95M | 1.93M | -358.00K | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -7.83M | -6.21M | -1.64M | 29.14M | -26.64M | |
| Accrued Interest Receivable | 1.02M | -353.00K | -724.00K | -2.67M | 2.15M | |
| Change in Other Net Operating Assets | 3.00M | 2.58M | -14.56M | -7.29M | -1.11M | |
| Other Operating Activities | -14.17M | -8.16M | -16.61M | -4.44M | -1.19M | |
| Operating Cash Flow | 62.39M | 46.89M | 22.71M | 52.65M | -7.50M | |
| Capital Expenditures | -3.17M | -5.22M | -5.95M | -2.42M | -3.45M | |
| Sale of Property, Plant and Equipment | 843.00K | 946.00K | 721.00K | 17.00K | ||
| Cash Acquisitions | 25.37M | 305.78M | ||||
| Investment in Securities | -999.00K | -6.38M | 463.46M | -135.39M | -174.60M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -122.58M | -123.28M | -308.67M | -426.97M | -79.77M | |
| Other Investing Activities | 7.58M | -606.00K | -2.64M | -17.18M | -9.77M | |
| Investing Cash Flow | -118.32M | -134.54M | 172.31M | -581.57M | 38.19M | |
| Short-Term Debt Issued | 35.86M | 3.09M | ||||
| Long-Term Debt Issued | 58.86M | 50.00M | ||||
| Total Debt Issued | 58.86M | 50.00M | 35.86M | 3.09M | ||
| Short-Term Debt Repaid | -50.00M | -109.00M | ||||
| Long-Term Debt Repaid | -44.50M | -10.00M | ||||
| Total Debt Repaid | -94.50M | -109.00M | -10.00M | |||
| Net Debt Issued (Repaid) | -35.64M | 50.00M | -109.00M | 25.86M | 3.09M | |
| Issuance of Common Stock | 82.00K | 376.00K | 385.00K | 386.00K | 6.00K | |
| Repurchase of Common Stock | -819.00K | |||||
| Common Dividends Paid | -16.09M | -16.01M | -12.73M | -9.53M | -6.61M | |
| Net Increase (Decrease) in Deposit Accounts | 3.30M | 140.73M | 243.24M | -15.90M | 370.33M | |
| Financing Cash Flow | -48.35M | 175.09M | 121.89M | 811.00K | 366.01M | |
| Net Cash Flow | -104.28M | 87.44M | 316.91M | -528.11M | 396.70M | |
| Free Cash Flow | 59.22M | 41.66M | 16.76M | 50.23M | -10.95M | |
| Free Cash Flow Margin | 27.33% | 21.15% | 13.02% | 41.02% | -14.04% | |
| Free Cash Flow Per Share | 1.77 | 1.25 | 0.63 | 2.53 | -0.83 | |
| Cash Interest Paid | 114.86M | 123.57M | 74.04M | 12.62M | 6.01M | |
| Cash Income Tax Paid | 15.07M | 7.29M | 11.85M | 6.25M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 766.69M | 590.99M | 528.23M | 472.33M | 346.25M | 412.95M |
| Last Close Price | 22.38 | 17.34 | 15.07 | 13.04 | 15.36 | 17.93 |
| PE Ratio | 11.23 | 9.93 | 12.04 | 42.07 | 11.11 | 26.87 |
| PS Ratio | 3.18 | 2.73 | 2.68 | 3.67 | 2.83 | 5.29 |
| PB Ratio | 1.20 | 1.00 | 0.98 | 0.92 | 0.95 | 1.18 |
| P/FCF Ratio | 8.55 | 9.98 | 12.68 | 28.18 | 6.89 | |
| P/OCF Ratio | 8.27 | 9.47 | 11.27 | 20.80 | 6.58 | |
| Debt / Equity Ratio | 0.16 | 0.17 | 0.25 | 0.17 | 0.26 | 0.20 |
| Debt / FCF Ratio | 1.69 | 3.25 | 5.11 | 1.85 | ||
| Net Debt / Equity Ratio | -0.57 | -0.43 | -0.60 | -0.56 | 0.10 | -1.47 |
| Net Debt / FCF Ratio | -4.32 | -7.79 | -17.11 | 0.74 | 47.02 | |
| Return on Equity (ROE) | 11.47% | 10.52% | 8.34% | 2.56% | 8.72% | 5.63% |
| Return on Assets (ROA) | 1.08% | 0.95% | 0.72% | 0.24% | 0.90% | 0.57% |
| Earnings Yield | 8.91% | 10.07% | 8.31% | 2.38% | 9.00% | 3.72% |
| FCF Yield | 11.70% | 10.02% | 7.89% | 3.55% | 14.51% | -2.65% |
| Dividend Yield | 2.43% | 2.71% | 3.03% | 3.37% | 2.75% | 2.30% |
| Payout Ratio | 25.37% | 27.05% | 36.48% | 113.40% | 30.57% | 42.99% |
| Buyback Yield / Dilution | -0.17% | -0.37% | -25.25% | -33.89% | -51.28% | -5.96% |
| Total Shareholder Return | 2.33% | 2.35% | -22.23% | -30.53% | -48.53% | -3.66% |