Shore Bancshares reports Q4 net income $8.4M, FY2022 net income $31.2M

SHORE BANCSHARES INC

2022-FY EPS reported $1.57 revenue$15,340,000

Q4 2022 net income $8.4M ($0.42 EPS) vs Q3 $9.7M ($0.49 EPS) and Q4 2021 $2.7M ($0.16 EPS). Adjusted Q4 EPS $0.46.
FY2022 net income $31.2M ($1.57 EPS) vs FY2021 $15.4M ($1.17 EPS); adjusted FY2022 EPS $1.65.
Net interest margin 3.35% in Q4 2022, down from 3.38% in Q3 but up from 2.87% in Q4 2021.
Loan growth of ~20% in 2022; total assets $3.477B; total deposits down slightly.
Recorded merger-related expenses of $935K for pending TCFC acquisition; Severn integration completed.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SHORE BANCSHARES INC reported the fiscal year of 2022 results: net income Net income for the fiscal year of 2022 was $31.177 million or $1.57 per diluted common share, EPS $1.57 per diluted common share.

Period: the fiscal year of 2022
Net income: Net income for the fiscal year of 2022 was $31.177 million or $1.57 per diluted common share
EPS: $1.57 per diluted common share
Result: reported results

Exact text from the filing

Net income for the fiscal year of 2022 was $31.177 million or $1.57 per diluted common share, compared to net income for the fiscal year of 2021 of $15.368 million or $1.17 per diluted common share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SHORE BANCSHARES INC reported the fourth quarter of 2022 results: net income net income of $8.407 million or $0.42 per diluted common share for the fourth quarter of 2022, EPS $0.42 per diluted common share.

Period: the fourth quarter of 2022
Net income: net income of $8.407 million or $0.42 per diluted common share for the fourth quarter of 2022
EPS: $0.42 per diluted common share
Result: reported results

Exact text from the filing

Shore Bancshares Reports 2022 Financial Results Easton, Maryland (01/26/2023) - Shore Bancshares, Inc. (NASDAQ - SHBI) (the “Company”) reported net income of $8.407 million or $0.42 per diluted common share for the fourth quarter of 2022

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Source: SEC EDGAR

accession 0001104659-23-007028

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