Shore Bancshares Q2 net income $4.0M ($0.20 EPS), down 46% YoY; merger with TCFC closed July 1

SHORE BANCSHARES INC

2023-Q2 EPS reported $0.53 revenue$7,099,000

GAAP EPS $0.20 vs $0.38 in Q2 2022; adjusted EPS $0.25 (ex merger costs).
Net interest margin fell to 2.68% from 3.10% a year ago on higher funding costs.
Loans held for investment grew 7.7% since Dec 2022; deposits fell 2.4%.
Post-merger sold $430M securities, used $380M to reduce FHLB advances and brokered deposits.
Management targets 4%-6% annualized loan growth in H2 on higher-yielding commercial loans.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SHORE BANCSHARES INC reported first half of 2023 results: net income 10.475 million, EPS 0.53.

Period: first half of 2023
Net income: 10.475 million
EPS: 0.53
Result: reported results

Exact text from the filing

Net income for the first half of 2023 was $10.475 million or $0.53 per diluted common share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SHORE BANCSHARES INC reported second quarter of 2023 results: net income 4.018 million, EPS 0.20.

Period: second quarter of 2023
Net income: 4.018 million
EPS: 0.20
Result: reported results

Exact text from the filing

reported net income of $4.018 million or $0.20 per diluted common share for the second quarter of 2023,

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51 earnings releases filed in the last 30 days. Browse all earnings releases →

SHORE BANCSHARES INC filing history →

Source: SEC EDGAR

accession 0001104659-23-084843

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