SHORE BANCSHARES INC
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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FY2025 · Filed Mar 2, 2026
SHBI$22.85-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
| Year Ended December 31, | |||
|---|---|---|---|
| ($ in thousands, except per share data) | 2025 | 2024 | 2023 |
| INTEREST INCOME | |||
| Interest and fees on loans | $280,604 | $269,631 | $194,339 |
| Interest and dividends on taxable investment securities | 20,378 | 19,444 | 16,832 |
| Interest and dividends on tax-exempt investment securities | 24 | 24 | 46 |
| Interest on federal funds sold | — | — | 92 |
| Interest on deposits with other banks | 9,022 | 6,239 | 2,770 |
| Total interest income | 310,028 | 295,338 | 214,079 |
| INTEREST EXPENSE | |||
| Interest on deposits | 109,203 | 115,301 | 68,800 |
| Interest on short-term borrowings | 2,089 | 2,131 | 5,518 |
| Interest on long-term borrowings | 6,359 | 7,357 | 4,454 |
| Total interest expense | 117,651 | 124,789 | 78,772 |
| NET INTEREST INCOME | 192,377 | 170,549 | 135,307 |
| Provision for credit losses | 8,375 | 4,738 | 30,953 |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 184,002 | 165,811 | 104,354 |
| NONINTEREST INCOME | |||
| Service charges on deposit accounts | 6,295 | 6,149 | 5,501 |
| Trust and investment fee income | 3,705 | 3,367 | 3,608 |
| Mortgage banking revenue | 6,078 | 5,987 | 4,513 |
| Interchange credits | 7,085 | 6,741 | 5,714 |
| Bank-owned life insurance income | 3,910 | 2,657 | 1,997 |
| Bargain purchase gain | — | — | 8,816 |
| Other noninterest income | 5,615 | 6,246 | 3,010 |
| Total noninterest income | 32,688 | 31,147 | 33,159 |
| NONINTEREST EXPENSE | |||
| Salaries and employee benefits | 71,406 | 66,579 | 57,003 |
| Occupancy expense | 9,877 | 9,706 | 7,791 |
| Furniture and equipment expense | 3,334 | 3,441 | 2,551 |
| Software and data processing | 19,862 | 17,508 | 12,465 |
| Amortization of other intangible assets | 8,589 | 9,779 | 6,105 |
| Legal and professional fees | 5,064 | 5,836 | 4,337 |
| FDIC insurance premium expense | 3,753 | 4,413 | 3,479 |
| Marketing and advertising | 1,320 | 1,319 | 1,089 |
| Fraud losses | 460 | 4,998 | 879 |
| Merger-related expenses | — | — | 17,356 |
| Other noninterest expense | 14,370 | 14,675 | 10,274 |
| Total noninterest expense | 138,035 | 138,254 | 123,329 |
| Income before income taxes | 78,655 | 58,704 | 14,184 |
| Income tax expense | 19,149 | 14,815 | 2,956 |
| NET INCOME | $59,506 | $43,889 | $11,228 |
| Basic net income per common share | $1.78 | $1.32 | $0.42 |
| Diluted net income per common share | $1.78 | $1.32 | $0.42 |
| Dividends paid per common share | $0.48 | $0.48 | $0.48 |
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