---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-002743"
form_type: "8-K"
ticker: "SHBI"
cik: "0001035092"
company_name: "SHORE BANCSHARES INC"
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T12:43:40.687283+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Shore Bancshares Q4 net income $10.5M ($0.32/sh); deposits up 5.4% to $5.4B

## Summary
- Q4 2023 net income $10.5M ($0.32 diluted EPS) vs Q3 net loss $9.7M ($0.29 loss) and Q4 2022 net income $8.4M ($0.42).
- Full year 2023 net income $11.2M ($0.42) vs 2022 $31.2M ($1.57), down due to merger-related costs and higher provision.
- Net interest margin fell to 3.09% from 3.35% QoQ; deposits increased $277.4M in Q4 to $5.4B.
- TCFC merger closed July 1, 2023, valued ~$153.6M, added $2.4B assets; bargain purchase gain of $8.8M.
- Provision for credit losses $31.0M in 2023 vs $1.9M in 2022, driven by CECL adoption and merger loan portfolios.

## SEC filing metadata
- accession: 0001628280-24-002743
- form_type: 8-K
- ticker: SHBI
- cik: 0001035092
- company_name: SHORE BANCSHARES INC
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035092/000162828024002743/0001628280-24-002743-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035092/000162828024002743/shbi-20240131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-002743
- JSON: https://secwatch.observer/filing/0001628280-24-002743.json
- Plain text: https://secwatch.observer/filing/0001628280-24-002743.txt

## Key facts
- Earnings Releases
  SHORE BANCSHARES INC reported the fiscal year of 2023 results: net income $11.2 million, EPS $0.42 per diluted common share.
  - Period: the fiscal year of 2023
  - Net income: $11.2 million
  - EPS: $0.42 per diluted common share
  - Result: reported results
  source text: Net income for the fiscal year of 2023 was $11.2 million or $0.42 per diluted common share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000162828024002743/0001628280-24-002743-index.htm
- Earnings Releases
  SHORE BANCSHARES INC reported the fourth quarter of 2023 results: net income $10.5 million, EPS $0.32 per diluted common share.
  - Period: the fourth quarter of 2023
  - Net income: $10.5 million
  - EPS: $0.32 per diluted common share
  - Result: reported results
  source text: Shore Bancshares, Inc. Reports 2023 Fourth Quarter and Annual Results Easton, Maryland (January 31, 2024) - Shore Bancshares, Inc. (NASDAQ - SHBI) (the “Company” or “Shore Bancshares”), the holding company for Shore United Bank N.A. (the “Bank” or “SUB”) reported net income for the fourth quarter of 2023 of $10.5 million or $0.32 per diluted common share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000162828024002743/0001628280-24-002743-index.htm

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