secwatch.observer — SEC 8-K summary
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Issuer:     SHORE BANCSHARES INC (SHBI)
CIK:        0001035092
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001628280-24-020016
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035092/000162828024020016/0001628280-24-020016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035092/000162828024020016/shbi-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-020016

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