home · filing · 0001104659-21-132097
8-K filed November 1, 2021, 7:59 PM ET
ticker SHBI
CIK 0001035092
M&A
confidence high
sentiment positive
materiality 0.85
Shore Bancshares completes $169.8M Severn Bancorp acquisition; Hyatt named Chairman
SHORE BANCSHARES INC
Acquisition effective Oct 31, 2021; each Severn share converted to 0.6207 SHBI shares + $1.59 cash.
Total consideration approximates $169.8M based on SHBI closing price of $18.48 on Oct 29, 2021.
Pro forma combined assets ~$3.2B, equity ~$311.3M, deposits ~$2.9B as of June 30, 2021 (unaudited).
Alan J. Hyatt (former Severn CEO) appointed Chairman of SHBI and Shore United Boards; four new directors added.
Hyatt entered a five-year consulting agreement with Shore United at $150K annual fee, subject to non-compete.
Executive movements
Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements .
Appointed
David S. Jones
Director
SHBI ·
SHORE BANCSHARES INC
Effective 2021-10-31
Filed November 1, 2021, 7:59 PM ET
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
Appointed
Alan J. Hyatt
Chairman of the Board
SHBI ·
SHORE BANCSHARES INC
Effective 2021-10-31
Filed November 1, 2021, 7:59 PM ET
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
Appointed
John A. Lamon, III
Director
SHBI ·
SHORE BANCSHARES INC
Effective 2021-10-31
Filed November 1, 2021, 7:59 PM ET
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
Appointed
Konrad M. Wayson
Director
SHBI ·
SHORE BANCSHARES INC
Effective 2021-10-31
Filed November 1, 2021, 7:59 PM ET
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
David S. Jones was appointed as Director at SHORE BANCSHARES INC.
Action appointed
Role Director
Exact text from the filing
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Alan J. Hyatt was appointed as Chairman of the Board at SHORE BANCSHARES INC.
Action appointed
Role Chairman of the Board
Exact text from the filing
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John A. Lamon, III was appointed as Director at SHORE BANCSHARES INC.
Action appointed
Role Director
Exact text from the filing
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Konrad M. Wayson was appointed as Director at SHORE BANCSHARES INC.
Action appointed
Role Director
Exact text from the filing
appointed each of the Director Nominees to serve as directors of SHBI and Shore United, and appointed Mr. Hyatt as the Chairman of the Boards
View on SEC.gov
Source: SEC EDGAR
accession 0001104659-21-132097
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