SHORE BANCSHARES INC
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
SHBI$22.89+2.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| (In thousands, except share and per share data) | December 31, 2023 | December 31, 2022 |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $63,172 | $37,661 |
| Interest-bearing deposits with other banks | 309,241 | 17,838 |
| Cash and cash equivalents | 372,413 | 55,499 |
| Investment securities: | ||
| Available-for-sale, at fair value (amortized cost of $120,832 (2023) and $95,999 (2022)) | 110,521 | 83,587 |
| Held to maturity, net of allowance for credit losses of $94 (2023) (fair value of $457,830 (2023) and $494,627 (2022)) | 513,188 | 559,455 |
| Equity securities, at fair value | 5,703 | 1,233 |
| Restricted securities, at cost | 17,900 | 11,169 |
| Loans held for sale, at fair value | 8,782 | 4,248 |
| Loans held for investment ($9,944 (2023) and $8,437 (2022), at fair value) | 4,641,010 | 2,556,107 |
| Less: allowance for credit losses | (57,351) | (16,643) |
| Loans, net | 4,583,659 | 2,539,464 |
| Premises and equipment, net | 82,386 | 51,488 |
| Goodwill | 63,266 | 63,266 |
| Other intangible assets, net | 48,090 | 5,547 |
| OREO, net | 179 | 197 |
| Mortgage servicing rights, at fair value | 5,926 | 5,275 |
| Right-of-use assets | 12,487 | 9,629 |
| Cash surrender value on life insurance | 101,704 | 59,218 |
| Accrued interest receivable | 19,217 | 9,384 |
| Deferred income taxes | 40,707 | 7,357 |
| Other assets | 24,790 | 11,260 |
| TOTAL ASSETS | $6,010,918 | $3,477,276 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing | $1,258,037 | $862,015 |
| Interest-bearing | 4,128,083 | 2,147,769 |
| Total deposits | 5,386,120 | 3,009,784 |
| Advances from FHLB - short-term | — | 40,000 |
| Guaranteed preferred beneficial interest in junior subordinated debentures ("TRUPS") | 29,158 | 18,398 |
| Subordinated debt | 43,139 | 24,674 |
| Total borrowings | 72,297 | 83,072 |
| Lease liabilities | 12,857 | 9,908 |
| Other liabilities | 28,509 | 10,227 |
| TOTAL LIABILITIES | 5,499,783 | 3,112,991 |
| STOCKHOLDERS' EQUITY | ||
| Common stock, par value $.01 per share; shares authorized - 50,000,000; shares issued and outstanding - 33,161,532 (2023) and 19,864,956 (2022) | 332 | 199 |
| Additional paid in capital | 356,007 | 201,494 |
| Retained earnings | 162,290 | 171,613 |
| Accumulated other comprehensive loss | (7,494) | (9,021) |
| TOTAL STOCKHOLDERS' EQUITY | 511,135 | 364,285 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $6,010,918 | $3,477,276 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.