SHORE BANCSHARES INC (SHBI): debt financing — Shore Bancshares completes $60M subordinated notes offering at 6.25% fixed rate

SHORE BANCSHARES INC

$60M aggregate principal of 6.25% Fixed to Floating Rate Subordinated Notes due 2035 issued.
Notes initially bear 6.25% fixed for 5 years, then float at 3-month SOFR + 288 bps.
Intended to qualify as Tier 2 regulatory capital; proceeds for general corporate purposes and debt repayment.
Piper Sandler & Co. lead placement agent; Hovde Group co-placement agent.
Notes unsecured, subordinated, not guaranteed by subsidiaries; no conversion or sinking fund.

item 1.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SHORE BANCSHARES INC incurred senior notes of $60.0 million at 6.25% Fixed to Floating Rate maturing November 15, 2035.

Instrument: senior notes
Principal: $60.0 million
Rate: 6.25% Fixed to Floating Rate
Maturity: November 15, 2035
Event: incurrence

Exact text from the filing

On November 13, 2025, Shore Bancshares, Inc. (the “Company”) entered into Subordinated Note Purchase Agreements (collectively, the “Purchase Agreements”) with certain qualified institutional buyers and accredited investors (collectively, the “Purchasers”) pursuant to which the Company issued and sold $60.0 million in aggregate principal amount of its 6.25% Fixed to Floating Rate Subordinated Notes due 2035

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Source: SEC EDGAR

accession 0001104659-25-111485

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