Shore Bancshares Inc (SHBI) Financial Statements (2024 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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments56,732584,985188,31296,31367,22531,820
Cash and cash equivalents55,499583,613186,91794,97167,22531,820
Short-term investments1,2331,3721,3951,342  
Financing receivable, accrued interest, after allowance for credit loss   
Other current assets 8,5066,3713,0753,2615,3583,636
Total current assets:65,238591,356191,38799,57472,58335,456
Noncurrent Assets
Operating lease, right-of-use asset9,62911,3704,7954,771
Property, plant and equipment51,48851,62424,92423,82122,71123,054
Intangible assets, net (including goodwill)68,81370,95619,23719,77020,37532,337
Goodwill63,26663,42117,51817,51817,51827,618
Intangible assets, net (excluding goodwill)5,5477,5351,7192,2522,8574,719
Deferred income tax assets    
Total noncurrent assets:129,930133,95048,95648,36243,08655,391
Other undisclosed assets3,282,1082,734,8301,692,9721,411,2991,367,4071,303,013
TOTAL ASSETS:3,477,2763,460,1361,933,3151,559,2351,483,0761,393,860
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities      4,286
Accounts payable      4,286
Debt 40,0004,1431,0501,22660,81221,734
Deferred compensation liability      1,219
Other liabilities      39
Total current liabilities: 40,0004,1431,0501,22660,81227,278
Noncurrent Liabilities
Other undisclosed liabilities3,072,9913,105,3001,737,2461,365,2071,239,0791,202,846
Total liabilities:3,112,9913,109,4431,738,2961,366,4331,299,8911,230,124
Equity
Equity, attributable to parent364,285350,693195,019192,802183,185163,736
Common stock199198118125127127
Additional paid in capital201,494200,47352,16761,04565,43465,256
Accumulated other comprehensive income (loss)(9,021)561,529207(2,950)(1,309)
Retained earnings171,613149,966141,205131,425120,57499,662
Total equity:364,285350,693195,019192,802183,185163,736
TOTAL LIABILITIES AND EQUITY:3,477,2763,460,1361,933,3151,559,2351,483,0761,393,860

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues15,34011,0079,2069,4645,43614,002
Investment banking revenue3,3962,8393,910  
Brokerage commissions revenue1,8811,5581,522 
Revenues, excluding interest and dividends7,436     
Financial services revenue5,43614,002
Cost of revenue(1,925)(59)(3,900)(700)(1,674)(2,291)
Provision for loan, lease, and other losses(1,925) (3,900)(700) 
Amortization of mortgage servicing rights (msrs)  (59)    
Financial services costs(1,674)(2,291)
Gross profit:13,41510,9485,3068,7643,76211,711
Operating expenses(64,842)(47,518)(30,108)(29,081)(29,063)(33,196)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,7521,5191,8031,3543,5773,748
Operating loss:(49,675)(35,051)(22,999)(18,963)(21,724)(17,737)
Nonoperating income
(Investment Income, Nonoperating)
 2347   
Interest and debt expense(12,543)(6,039)(7,080)(9,636)(5,272)(2,273)
Other undisclosed income from continuing operations before equity method investments, income taxes   50,77950,49348,13939,795
Income (loss) from continuing operations before equity method investments, income taxes:(62,218)(41,088)21,04721,89421,14319,785
Other undisclosed income from continuing operations before income taxes104,35962,268    
Income from continuing operations before income taxes:42,14121,18021,04721,89421,14319,785
Income tax expense(10,964)(5,812)(5,317)(5,610)(5,380)(8,523)
Income from continuing operations:31,17715,36815,73016,28415,76311,262
Income before gain (loss) on sale of properties:15,36815,73016,19824,99711,262
Income (loss) from discontinued operations    (86)9,234 
Net income available to common stockholders, diluted:31,17715,36815,73016,19824,99711,262

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:31,17715,36815,73016,19824,99711,262
Other comprehensive income (loss)   3,157(1,647)(90)
Comprehensive income:31,17715,36815,73019,35523,35011,172
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(9,077)(1,473)1,322   
Comprehensive income, net of tax, attributable to parent:22,10013,89517,05219,35523,35011,172

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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