Shore Bancshares Inc (SHBI) Financial Statements (2025 and earlier)

Company Profile

Business Address 18 EAST DOVER STREET
EASTON, MD 21601-3013
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments378,11656,732584,985188,31296,31367,225
Cash and cash equivalent372,41355,499583,613186,91794,97167,225
Short-term investments5,7031,2331,3721,3951,342 
Other current assets  8,5066,3713,0753,2615,358
Financing receivable, accrued interest, after allowance for credit loss16,800   
Total current assets:394,91665,238591,356191,38799,57472,583
Noncurrent Assets
Operating lease, right-of-use asset12,4879,62911,3704,7954,771
Property, plant and equipment82,38651,48851,62424,92423,82122,711
Intangible assets, net (including goodwill)111,35668,81370,95619,23719,77020,375
Goodwill63,26663,26663,42117,51817,51817,518
Intangible assets, net (excluding goodwill)48,0905,5477,5351,7192,2522,857
Deferred income tax assets40,707    
Total noncurrent assets:246,936129,930133,95048,95648,36243,086
Other undisclosed assets5,369,0663,282,1082,734,8301,692,9721,411,2991,367,407
TOTAL ASSETS:6,010,9183,477,2763,460,1361,933,3151,559,2351,483,076
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt  40,0004,1431,0501,22660,812
Total current liabilities:  40,0004,1431,0501,22660,812
Noncurrent Liabilities
Other undisclosed liabilities5,499,7833,072,9913,105,3001,737,2461,365,2071,239,079
Total liabilities:5,499,7833,112,9913,109,4431,738,2961,366,4331,299,891
Equity
Equity, attributable to parent511,135364,285350,693195,019192,802183,185
Common stock332199198118125127
Additional paid in capital356,007201,494200,47352,16761,04565,434
Accumulated other comprehensive income (loss)(7,494)(9,021)561,529207(2,950)
Retained earnings162,290171,613149,966141,205131,425120,574
Total equity:511,135364,285350,693195,019192,802183,185
TOTAL LIABILITIES AND EQUITY:6,010,9183,477,2763,460,1361,933,3151,559,2351,483,076

Income Statement (P&L) ($ in thousands)

12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues223,18815,34011,0079,2069,4645,436
Investment banking revenue3,3962,8393,910 
Brokerage commissions revenue1,8811,5581,522 
Net investment income214,079     
Revenues, excluding interest and dividends9,1097,436    
Financial services revenue5,436
Cost of revenue(30,953)(1,925)(59)(3,900)(700)(1,674)
Provision for loan, lease, and other losses(30,953)(1,925) (3,900)(700) 
Amortization of mortgage servicing rights (msrs)   (59)   
Financial services costs(1,674)
Gross profit:192,23513,41510,9485,3068,7643,762
Operating expenses(97,038)(64,842)(47,518)(30,108)(29,081)(29,063)
Other operating income, net
(Noninterest Income, Other Operating Income)
  1,7521,5191,8031,3543,577
Operating income (loss):95,197(49,675)(35,051)(22,999)(18,963)(21,724)
Nonoperating income
(Investment Income, Nonoperating)
 6,650 2347  
Interest and debt expense (78,772)(12,543)(6,039)(7,080)(9,636)(5,272)
Other undisclosed income from continuing operations before equity method investments, income taxes    50,77950,49348,139
Income (loss) from continuing operations before equity method investments, income taxes:23,075(62,218)(41,088)21,04721,89421,143
Other undisclosed income (loss) from continuing operations before income taxes(8,891)104,35962,268   
Income from continuing operations before income taxes:14,18442,14121,18021,04721,89421,143
Income tax expense(2,956)(10,964)(5,812)(5,317)(5,610)(5,380)
Income from continuing operations:11,22831,17715,36815,73016,28415,763
Income before gain (loss) on sale of properties:15,36815,73016,19824,997
Income (loss) from discontinued operations     (86)9,234
Net income available to common stockholders, diluted:11,22831,17715,36815,73016,19824,997

Comprehensive Income ($ in thousands)

12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:11,22831,17715,36815,73016,19824,997
Other comprehensive income (loss)     3,157(1,647)
Comprehensive income:11,22831,17715,36815,73019,35523,350
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,527(9,077)(1,473)1,322  
Comprehensive income, net of tax, attributable to parent:12,75522,10013,89517,05219,35523,350

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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