SHORE BANCSHARES INC
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
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FY2024 · Filed Mar 10, 2025
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 per share data) | December 31, 2024 | December 31, 2023 |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $44,008 | $63,172 |
| Interest-bearing deposits with other banks | 415,843 | 309,241 |
| Cash and cash equivalents | 459,851 | 372,413 |
| Investment securities: | ||
| Available for sale, at fair value (amortized cost of $159,593 and $120,832 at December 31, 2024 and 2023, respectively) | 149,212 | 110,521 |
| Held to maturity, net of allowance for credit losses of $203 and $94 (fair value of $424,734 and $457,830) at December 31, 2024 and 2023, respectively | 481,077 | 513,188 |
| Equity securities, at fair value | 5,814 | 5,703 |
| Restricted securities, at cost | 20,253 | 17,900 |
| Loans held for sale, at fair value | 19,606 | 8,782 |
| Loans held for investment (fair value of $9,466 and $9,944 at December 31, 2024 and 2023, respectively) | 4,771,988 | 4,641,010 |
| Less: allowance for credit losses | (57,910) | (57,351) |
| Loans, net | 4,714,078 | 4,583,659 |
| Premises and equipment, net | 81,806 | 82,386 |
| Goodwill | 63,266 | 63,266 |
| Other intangible assets, net | 38,311 | 48,090 |
| Mortgage servicing rights, at fair value | 5,874 | 5,926 |
| Right-of-use assets | 11,385 | 12,487 |
| Cash surrender value on life insurance | 104,421 | 101,704 |
| Accrued interest receivable | 19,570 | 19,217 |
| Deferred income taxes | 31,857 | 40,707 |
| Other assets | 24,382 | 24,969 |
| TOTAL ASSETS | $6,230,763 | $6,010,918 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing | $1,562,815 | $1,258,037 |
| Interest-bearing checking | 978,076 | 1,165,546 |
| Money market and savings | 1,805,884 | 1,777,927 |
| Time deposits | 1,181,561 | 1,184,610 |
| Total deposits | 5,528,336 | 5,386,120 |
| FHLB advances | 50,000 | — |
| Guaranteed preferred beneficial interest in junior subordinated debentures (“TRUPS”) | 29,847 | 29,530 |
| Subordinated debt | 43,870 | 43,139 |
| Total borrowings | 123,717 | 72,669 |
| Lease liabilities | 11,844 | 12,857 |
| Other liabilities | 25,800 | 28,137 |
| TOTAL LIABILITIES | 5,689,697 | 5,499,783 |
| COMMITMENTS AND CONTINGENCIES (Note 19) | ||
| STOCKHOLDERS’ EQUITY | ||
| Common stock, par value $0.01 per share; shares authorized 50,000,000; shares issued and outstanding 33,332,177 and 33,161,532 at December 31, 2024 and 2023, respectively | 333 | 332 |
| Additional paid in capital | 358,112 | 356,007 |
| Retained earnings | 190,166 | 162,290 |
| Accumulated other comprehensive loss | (7,545) | (7,494) |
| TOTAL STOCKHOLDERS’ EQUITY | 541,066 | 511,135 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $6,230,763 | $6,010,918 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.