---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-035788"
form_type: "8-K"
ticker: "SHBI"
cik: "0001035092"
company_name: "SHORE BANCSHARES INC"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T01:51:41.055306+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Shore Bancshares Q3 net loss $6.4M on merger costs; tangible book value drops 20%

## Summary
- Q3 net loss of $6.4M ($0.19 diluted EPS) vs net income $4.0M ($0.20) in Q2 2023 and $9.7M ($0.49) in Q3 2022.
- Net interest income $45.6M; NIM expanded to 3.35% from 2.68% QoQ due to accretion and balance sheet restructuring.
- Provision for credit losses $28.2M, mostly from TCFC acquisition ($20.1M) and ACL methodology change ($7.3M).
- Merger with TCFC closed July 1; contributed $2.4B assets; tangible book value per share fell to $11.80 from $14.83.
- Noninterest expense $47.2M includes $17.5M merger costs; $12.2M bargain purchase gain partially offset.

## SEC filing metadata
- accession: 0001628280-23-035788
- form_type: 8-K
- ticker: SHBI
- cik: 0001035092
- company_name: SHORE BANCSHARES INC
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035092/000162828023035788/0001628280-23-035788-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035092/000162828023035788/shbi-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-035788
- JSON: https://secwatch.observer/filing/0001628280-23-035788.json
- Plain text: https://secwatch.observer/filing/0001628280-23-035788.txt

## Key facts
- Earnings Releases
  SHORE BANCSHARES INC reported the third quarter and first nine months of 2023 results: net income net loss of $6.4 million or $0.19 per diluted common share, EPS $0.19 per diluted common share.
  - Period: the third quarter and first nine months of 2023
  - Net income: net loss of $6.4 million or $0.19 per diluted common share
  - EPS: $0.19 per diluted common share
  - Result: reported results
  source text: reported a net loss of $6.4 million or $0.19 per diluted common share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000162828023035788/0001628280-23-035788-index.htm

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