---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-020016"
form_type: "8-K"
ticker: "SHBI"
cik: "0001035092"
company_name: "SHORE BANCSHARES INC"
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-02T23:45:40.976604+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Shore Bancshares Q1 net income $8.2M ($0.25); $4.3M credit card fraud loss reduces EPS by $0.10

## Summary
- Net income $8.2M ($0.25 diluted) vs $10.5M ($0.32) in Q4 2023; down 22%.
- Recognized $4.3M fraud expense from fraudulent credit card accounts opened using stolen non-customer data; EPS impact $0.10.
- Net interest margin stable at 3.08%; deposits fell $201.8M to $5.2B; no brokered deposits or FHLB advances.
- Nonperforming assets rose to 0.28% of total assets from 0.23% in Q4; credit trends remain stable.
- Board declared $0.12 quarterly dividend payable May 31; plans to close two branches by Q3.

## SEC filing metadata
- accession: 0001628280-24-020016
- form_type: 8-K
- ticker: SHBI
- cik: 0001035092
- company_name: SHORE BANCSHARES INC
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1035092/000162828024020016/0001628280-24-020016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1035092/000162828024020016/shbi-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-020016
- JSON: https://secwatch.observer/filing/0001628280-24-020016.json
- Plain text: https://secwatch.observer/filing/0001628280-24-020016.txt

## Key facts
- Earnings Releases
  SHORE BANCSHARES INC reported first quarter of 2024 results: net income $8.2 million, EPS $0.25 per diluted common share.
  - Period: first quarter of 2024
  - Net income: $8.2 million
  - EPS: $0.25 per diluted common share
  - Result: reported results
  source text: 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 first quarter of 2024 of $8.2 million or $0.25 per diluted common share compared to a net income of $10.5 million or $0.32 per diluted common share for the fourth quarter of 2023, and net income of $6.5 million or $0.32 per diluted common share for the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1035092/000162828024020016/0001628280-24-020016-index.htm

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