Shore Bancshares and TCFC receive regulatory approvals for merger; close expected July 1, 2023

SHORE BANCSHARES INC

Received OCC and Maryland regulatory approvals to merge Community Bank of the Chesapeake into Shore United Bank.
Federal Reserve granted a waiver of merger application requirements for the deal.
Merger still requires shareholder approval from both Shore and TCFC plus other closing conditions.
Transaction expected to close on or about July 1, 2023.

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