---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-132097"
form_type: "8-K"
ticker: "SHBI"
cik: "0001035092"
company_name: "SHORE BANCSHARES INC"
filed_at: "2021-11-01T23:59:59+00:00"
generated_at: "2026-06-28T15:34:37.171998+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Shore Bancshares completes $169.8M Severn Bancorp acquisition; Hyatt named Chairman

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-21-132097
- form_type: 8-K
- ticker: SHBI
- cik: 0001035092
- company_name: SHORE BANCSHARES INC
- filed_at: 2021-11-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035092/000110465921132097/0001104659-21-132097-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035092/000110465921132097/tm2131439d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-132097
- JSON: https://secwatch.observer/filing/0001104659-21-132097.json
- Plain text: https://secwatch.observer/filing/0001104659-21-132097.txt

## Key facts
- Executive change
  David S. Jones was appointed as Director at SHORE BANCSHARES INC.
  - Action: appointed
  - Role: Director
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000110465921132097/0001104659-21-132097-index.htm
- Executive change
  Alan J. Hyatt was appointed as Chairman of the Board at SHORE BANCSHARES INC.
  - Action: appointed
  - Role: Chairman of the Board
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000110465921132097/0001104659-21-132097-index.htm
- Executive change
  John A. Lamon, III was appointed as Director at SHORE BANCSHARES INC.
  - Action: appointed
  - Role: Director
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000110465921132097/0001104659-21-132097-index.htm
- Executive change
  Konrad M. Wayson was appointed as Director at SHORE BANCSHARES INC.
  - Action: appointed
  - Role: Director
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000110465921132097/0001104659-21-132097-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.