Loading…
Shore Bancshares, Inc. operates as a bank holding company for Shore United Bank, N.A. that provides various consumer and commercial banking products and services to individuals, businesses, and other organizations in the United States. The company offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as certificate of deposit account registry service programs and cash management services. It also provides commercial loans, such as secured and unsecured loans, working capital loans, lines of credit, term loans, accounts receivable financing, real estate acquisition and development loans, construction loans, and letters of credit; residential real estate construction loans; residential mortgage loans; and loans to consumers, including home equity, automobile, installment, home improvement, and personal lines of credit, as well as other consumer financing products. In addition, the company offers trust, wealth management, and financial planning services; treasury management services, such as merchant card processing, remote deposit capture, and ACH origination, as well as telephone, mobile, and Internet banking services; safe deposit boxes; debit and credit cards; and automatic teller machine services. Shore Bancshares, Inc. was founded in 1876 and is headquartered in Easton, Maryland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $225M | - | $60M | $59M | 10.1% | 11.6% | 35.6% |
| 2024 | $202M | - | $44M | $42M | 8.1% | 26.3% | 290.9% |
| 2023 | $160M | - | $11M | $17M | 2.2% | 28.3% | -64.0% |
| 2022 | $124M | - | $31M | $50M | 8.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 124.39 | 159.65 | 201.70 | 225.06 |
| Pretax Income | 42.14 | 14.18 | 58.70 | 78.66 |
| Tax Provision | 10.96 | 2.96 | 14.81 | 19.15 |
| Net Income | 31.18 | 11.23 | 43.89 | 59.51 |
| Net Income Common Stockholders | 31.18 | 11.23 | 43.89 | 59.51 |
| Interest Expense | 12.54 | 78.77 | 124.79 | 117.65 |
| Interest Income | 113.84 | 214.08 | 295.34 | 310.03 |
| Selling General And Administration | 48.10 | 61.57 | 72.31 | 76.48 |
| Normalized Income | 32.73 | 17.99 | 43.89 | 59.51 |
| Basic EPS | 1.57 | 0.42 | 1.32 | 1.78 |
| Diluted EPS | 1.57 | 0.42 | 1.32 | 1.78 |
| Tax Effect Of Unusual Items | -0.55 | -1.78 | 0 | 0 |
| Tax Rate For Calcs | 0.26 | 0.21 | 0.25 | 0.24 |
| Total Unusual Items | -2.10 | -8.54 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -2.10 | -8.54 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 31.18 | 11.23 | 43.89 | 59.51 |
| Reconciled Depreciation | 5.86 | 10.94 | 16.04 | 15.33 |
| Net Interest Income | 101.30 | 135.31 | 170.55 | 192.38 |
| Net Income From Continuing And Discontinued Operation | 31.18 | 11.23 | 43.89 | 59.51 |
| Diluted Average Shares | 19.85 | 26.66 | 33.28 | 33.41 |
| Basic Average Shares | 19.85 | 26.66 | 33.27 | 33.39 |
| Diluted NI Availto Com Stockholders | 31.18 | 11.23 | 43.89 | 59.51 |
| Net Income Including Noncontrolling Interests | 31.18 | 11.23 | 43.89 | 59.51 |
| Net Income Continuous Operations | 31.18 | 11.23 | 43.89 | 59.51 |
| Special Income Charges | -2.10 | -8.54 | 0 | 0 |
| Restructuring And Mergern Acquisition | 2.10 | 8.54 | 0 | 0 |
| Gain On Sale Of Security | 0 | -2.17 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 1.99 | 6.11 | 9.78 | 8.59 |
| Depreciation And Amortization In Income Statement | 1.99 | 6.11 | 9.78 | 8.59 |
| Amortization | 1.99 | 6.11 | 9.78 | 8.59 |
| Amortization Of Intangibles Income Statement | 1.99 | 6.11 | 9.78 | 8.59 |
| Selling And Marketing Expense | 0.90 | 1.09 | 1.32 | 1.32 |
| General And Administrative Expense | 48.10 | 60.48 | 70.99 | 75.16 |
| Other Gand A | 2.33 | 0 | 0 | 0 |
| Insurance And Claims | 1.43 | 3.48 | 4.41 | 3.75 |
| Salaries And Wages | 46.68 | 57 | 66.58 | 71.41 |
| Operating Revenue | 124.39 | 159.65 | 201.70 | 225.06 |
| Occupancy And Equipment | 8.26 | 10.34 | 13.15 | 13.21 |
| Professional Expense And Contract Services Expense | 2.84 | 4.34 | 5.84 | 5.06 |
| Other Non Interest Expense | 17.03 | 23.62 | 37.18 | 34.69 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Shore Bancshares, Inc.this co. | SHBI | $640M | 10.17↓ discount | 1.08 | 10.1% | - |
| South Plains Financial, Inc. | SPFI | $663M | 11.37 | 1.34 | 11.8% | - |
| Alerus Financial Corporation | ALRS | $658M | 37.87 | 1.16 | 3.1% | - |
| Tiptree Inc. | TIPT | $648M | - | 1.27 | 4.6% | -19.70 |
| Better Home & Finance Holding Company | BETR |
| $644M |
| - |
| 16.83 |
| -446.1% |
| - |
| Community West Bancshares | CWBC | $640M | 10.93 | 1.08 | 9.3% | - |
| GCM Grosvenor Inc. | GCMG | $637M | 25.52 | 24.09 | 35.6% | 7.26 |
| Hingham Institution for Savings | HIFS | $620M | 11.47 | 1.29 | 11.4% | - |
| Third Coast Bancshares, Inc. | TCBX | $617M | 9.58 | 0.95 | 12.5% | - |
| Peer Median | - | 11.42 | 1.28 | 10.3% | -6.22 | |