secwatch.observer — SEC 8-K summary
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Issuer:     SHORE BANCSHARES INC (SHBI)
CIK:        0001035092
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001628280-24-032901
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shore Bancshares Q2 net income $11.2M, EPS $0.34; NIM expands, efficiency improves
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- Net income of $11.2M ($0.34 diluted EPS) vs $8.2M ($0.25) in Q1 and $4.0M ($0.20) in Q2 2023.
- Net interest margin expands to 3.11% from 3.08% Q1; efficiency ratio improves to 66.2% from 76.9%.
- Provision for credit losses $2.1M vs $0.4M in Q1; net charge-offs $0.9M; nonperforming assets $18.4M (0.31% of assets).
- Noninterest income rises $1.9M QoQ to $8.4M; noninterest expense drops $3.2M QoQ to $33.5M (excludes $4.3M fraud loss in Q1).
- Total assets $5.9B, deposits $5.1B; Tier 1 capital ratio 9.67%, tangible common equity ratio 7.23%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1035092/000162828024032901/0001628280-24-032901-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1035092/000162828024032901/shbi-20240725.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-032901

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer