---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-084843"
form_type: "8-K"
ticker: "SHBI"
cik: "0001035092"
company_name: "SHORE BANCSHARES INC"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-12T23:35:29.634735+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-084843
- form_type: 8-K
- ticker: SHBI
- cik: 0001035092
- company_name: SHORE BANCSHARES INC
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035092/000110465923084843/0001104659-23-084843-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035092/000110465923084843/tm2322275d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-084843
- JSON: https://secwatch.observer/filing/0001104659-23-084843.json
- Plain text: https://secwatch.observer/filing/0001104659-23-084843.txt

## Key facts
- Earnings Releases
  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
  source text: Net income for the first half of 2023 was $10.475 million or $0.53 per diluted common share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000110465923084843/0001104659-23-084843-index.htm
- Earnings Releases
  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
  source text: reported net income of $4.018 million or $0.20 per diluted common share for the second quarter of 2023,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000110465923084843/0001104659-23-084843-index.htm

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