SHBI Shore Bancshares

Shore Bancshares, Inc. is a financial holding company, which engages in the provision of commercial banking products and services to individuals and businesses. Its services include checking accounts, various savings programs, mortgage loans, home improvement loans, installment and other personal loans, credit cards, personal lines of credit, automobile and other consumer financing, safe deposit boxes, debit cards, 24-hour telephone banking, internet banking, mobile banking, and 24-hour automatic teller machine services. It also offers commercial checking, savings, certificates of deposit, and overnight investment sweep accounts. The company was founded on March 15, 1996 and is headquartered in Easton, MD.
Company profile
Ticker
SHBI
Exchange
Website
CEO
Lloyd L. Beatty
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
521974638
SHBI stock data
()
News
Stocks That Hit 52-Week Highs On Friday
12 Mar 21
Stocks That Hit 52-Week Highs On Thursday
11 Mar 21
Stocks That Hit 52-Week Highs On Wednesday
10 Mar 21
Benzinga's Top Ratings Upgrades, Downgrades For March 8, 2021
8 Mar 21
Keefe, Bruyette & Woods Upgrades Shore Bancshares to Outperform, Raises Price Target to $20
8 Mar 21
Press releases
Lifshitz Law Firm, P.C. Announces Investigation of ATH, APO, WIFI, BMTC, WSFS, ENBL, ET, HGV, MIK, TLND, SVBI, and SHBI
14 Mar 21
SEVERN BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Severn Bancorp, Inc. - SVBI
11 Mar 21
ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Severn Bancorp, Inc.
4 Mar 21
SHAREHOLDER ALERT: WeissLaw LLP Investigates Severn Bancorp, Inc.
4 Mar 21
SEVERN ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of SVBI and Encourages Investors to Contact the Firm
4 Mar 21
Investment data
Securities sold
Number of investors
Calendar
26 Mar 21
11 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 Feb 21 | Dawn M. Willey | Common Stock | Grant | Aquire A | No | No | 0 | 3,897 | 0 | 3,997 |
1 Feb 21 | Jeffrey E. Thompson | Common Stock | Grant | Aquire A | No | No | 0 | 1,649 | 0 | 12,040.611 |
1 Feb 21 | Mason Frank E III | Common Stock | Grant | Aquire A | No | No | 0 | 1,649 | 0 | 31,044.938 |
1 Feb 21 | Clyde V. Kelly Iii | Common Stock | Grant | Aquire A | No | No | 0 | 1,649 | 0 | 11,585.653 |
1 Feb 21 | James A Judge | Common Stock | Grant | Aquire A | No | No | 0 | 1,649 | 0 | 8,780 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
70.4% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 62 |
Opened positions | 3 |
Closed positions | 6 |
Increased positions | 23 |
Reduced positions | 19 |
13F shares |
Current |
---|---|
Total value | 169.64M |
Total shares | 8.28M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Fourthstone | 1.2M | $17.46M |
BLK Blackrock | 886.97K | $12.95M |
HoldCo Asset Management | 570.91K | $8.34M |
Banc Funds | 568.92K | $8.31M |
Dimensional Fund Advisors | 555.23K | $8.11M |
FJ Capital Management | 500K | $7.31M |
Manufacturers Life Insurance Company, The | 489.15K | $7.14M |
Vanguard | 459.56K | $6.71M |
Renaissance Technologies | 328.14K | $4.79M |
STT State Street | 270.84K | $3.95M |
Financial report summary
?Risks
- A majority of our business is concentrated in Maryland and Delaware, a significant amount of which is concentrated in real estate lending, so a decline in the local economy and real estate markets could adversely impact our financial condition and results of operations.
- Our concentrations of commercial real estate loans could subject us to increased regulatory scrutiny and directives, which could force us to preserve or raise capital and/or limit our future commercial lending activities.
- Interest rates and other economic conditions will impact our results of operations.
- The Bank may experience credit losses in excess of its allowances, which would adversely impact our financial condition and results of operations.
- Our investment securities portfolio is subject to credit risk, market risk and liquidity risk.
- Impairment of investment securities, goodwill, other intangible assets, or deferred tax assets could require charges to earnings, which could result in a negative impact on our results of operations.
- Changes in accounting standards or interpretation of new or existing standards may affect how we report our financial condition and results of operations.
- Our future success will depend on our ability to compete effectively in the highly competitive financial services industry.
- Our funding sources may prove insufficient to replace deposits and support our future growth.
- The loss of key personnel could disrupt our operations and result in reduced earnings.
- The cost savings that we estimate for mergers and acquisitions may not be realized.
- Combining acquired businesses with the Bank may be more difficult, costly, or time-consuming than expected, or could result in the loss of customers.
- Our lending activities subject us to the risk of environmental liabilities.
- We may be subject to other adverse claims.
- We depend on the accuracy and completeness of information about customers and counterparties and our financial condition could be adversely affected if we rely on misleading information.
- Our exposure to operational, technological and organizational risk may adversely affect us.
- Our information systems may experience an interruption or breach in security.
- Our reliance on third party vendors could expose us to additional cyber risk and liability.
- We outsource certain aspects of our data processing to certain third-party providers which may expose us to additional risk.
- We are dependent on our information technology and telecommunications systems and third-party servicers, and systems failures, interruptions or breaches of security could have an adverse effect on our financial condition and results of operations.
- Technological changes affect our business, and we may have fewer resources than many competitors to invest in technological improvements.
- Increased regulatory oversight and uncertainty relating to the LIBOR calculation process and potential phasing out of LIBOR after 2021 may adversely affect the results of our operations.
- We operate in a highly regulated environment, which could restrain our growth and profitability.
- Federal and state regulators periodically examine our business, and we may be required to remediate adverse examination findings.
- Our FDIC deposit insurance premiums and assessments may increase.
- We are subject to numerous laws designed to protect consumers, including the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
- We are subject to evolving and extensive regulations and requirements. Our failure to adhere to these requirements or the failure or circumvention of our controls and procedures could seriously harm our business.
- We face a risk of noncompliance and enforcement action with the BSA and other anti-money laundering statues and regulations.
- Our common stock is not insured by any governmental entity.
- Our ability to pay dividends is limited by law and contract.
- The shares of our common stock are not heavily traded.
- Future sales of our common stock or other securities may dilute the value and adversely affect the market price of our common stock.
- Our Articles of Incorporation and By-Laws and Maryland law may discourage a corporate takeover which may make it more difficult for stockholders to receive a change in control premium.
- We may issue debt and equity securities that are senior to the common stock as to distributions and in liquidation, which could negatively affect the value of the common stock.
Management Discussion
- Net interest income remains the most significant factor affecting our results of operations. Net interest income represents the excess of interest and fees earned on total average earning assets (loans, investment securities, federal funds sold and interest-bearing deposits with other banks) over interest owed on average interest-bearing liabilities (deposits and borrowings). Tax-equivalent net interest income is net interest income adjusted for the tax-favored status of income from certain loans and investments. As shown in the table below, tax-equivalent net interest income for 2020 was $52.7 million. This represented a $2.4 million, or 4.9%, increase from 2019. The increase in net interest income when comparing 2020 to 2019 was primarily the result of higher average balances on loans and lower average rates paid on interest-bearing deposits, partially offset by lower average yields on taxable investment securities and interest-bearing deposits with other banks. In addition, the issuance of subordinated debt in the third quarter of 2020, contributed to the offset in the increase in net interest income when comparing the periods.
Content analysis
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New words:
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Removed:
accurately, allocable, amortizable, assuming, attainment, Avon, backed, backup, ballroom, bought, broader, calendar, catering, column, compensate, constant, continual, controllable, danger, dated, disadvantage, Dixon, Donald, downturn, Dramatic, eliminate, Elkridge, Elliot, employment, enjoin, entitle, erosion, exact, flat, foreseeable, forfeited, Geopolitical, highest, household, imminent, impair, inception, Inn, Jack, judgement, judicially, legacy, marine, marketplace, Martin, military, mix, moderate, modify, Mubell, myriad, nondeposit, Obama, outcome, payout, pose, predictable, predictive, presence, pressure, prospectively, reimbursing, reinsurance, remove, restore, retroactive, retrospectively, revalue, rose, sector, simplify, specialty, spending, strategic, strive, strong, superior, supplement, supported, threatened, Tidewater, trucking, Trump, unallocated, undergoing, unqualified, venture, Wilson
Financial reports
10-K
2020 FY
Annual report
26 Mar 21
10-Q
2020 Q3
Quarterly report
6 Nov 20
10-Q
2020 Q2
Quarterly report
7 Aug 20
10-Q
2020 Q1
Quarterly report
11 May 20
10-K
2019 FY
Annual report
13 Mar 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
9 Aug 19
10-Q
2019 Q1
Quarterly report
10 May 19
10-K
2018 FY
Annual report
15 Mar 19
10-Q
2018 Q3
Quarterly report
8 Nov 18
Current reports
8-K
Shore Bancshares, Inc. and Severn Bancorp, Inc. Announce Execution of Merger Agreement Creates 3rd Largest Bank Headquartered in Maryland
3 Mar 21
8-K
Shore Bancshares, Inc. Reports Quarterly Dividend of $0.12 Per Share
3 Feb 21
8-K
Amendments to Articles of Incorporation or Bylaws
28 Jan 21
8-K
Shore Bancshares Reports 2020 Results
28 Jan 21
8-K
Shore Bancshares, Inc. Announce New Board Member
22 Dec 20
8-K
Shore Bancshares Announces Stock Repurchase Plan
24 Nov 20
8-K
1 Investor Presentation November 2020
6 Nov 20
8-K
Shore Bancshares, Inc. Reports Quarterly Dividend of $0.12 Per Share
4 Nov 20
8-K
Regulation FD Disclosure
28 Oct 20
8-K
Shore Bancshares Reports Third Quarter and Nine-Month Results
22 Oct 20
Registration and prospectus
425
Business combination disclosure
3 Mar 21
425
Business combination disclosure
3 Mar 21
424B3
Prospectus supplement
4 Nov 20
S-4
Registration of securities issued in business combination transactions
23 Oct 20
D
$25M in debt, sold $25M, 22 investors
1 Oct 20
S-3/A
Shelf registration (amended)
30 Aug 18
S-3
Shelf registration
13 Jun 18
S-8
Registration of securities for employees
30 May 16
S-3/A
Shelf registration (amended)
11 Aug 15
S-3
Shelf registration
4 Aug 15
Proxies
DEFA14A
Additional proxy soliciting materials
26 Mar 21
DEF 14A
Definitive proxy
26 Mar 21
DEFA14A
Additional proxy soliciting materials
7 Apr 20
DEFA14A
Additional proxy soliciting materials
13 Mar 20
DEF 14A
Definitive proxy
13 Mar 20
DEFA14A
Additional proxy soliciting materials
15 Mar 19
DEF 14A
Definitive proxy
15 Mar 19
DEFA14A
Additional proxy soliciting materials
28 Mar 18
DEF 14A
Definitive proxy
15 Mar 18
DEF 14A
Definitive proxy
15 Mar 17
Other
EFFECT
Notice of effectiveness
4 Nov 20
CORRESP
Correspondence with SEC
28 Oct 20
UPLOAD
Letter from SEC
28 Oct 20
EFFECT
Notice of effectiveness
11 Sep 18
EFFECT
Notice of effectiveness
17 Aug 15
CORRESP
Correspondence with SEC
16 Aug 15
UPLOAD
Letter from SEC
11 Aug 15
CORRESP
Correspondence with SEC
5 Aug 15
UPLOAD
Letter from SEC
3 Nov 14
CORRESP
Correspondence with SEC
13 Oct 14
Ownership
SC 13G
SHORE BANCSHARES / FJ Capital Management ownership change
12 Mar 21
SC 13G/A
SHORE BANCSHARES / Fourthstone ownership change
16 Feb 21
SC 13G/A
SHORE BANCSHARES / VANGUARD ownership change
10 Feb 21
4
SHORE BANCSHARES / BLENDA W ARMISTEAD ownership change
3 Feb 21
4
SHORE BANCSHARES / David J Bates ownership change
3 Feb 21
4
SHORE BANCSHARES / R. MICHAEL CLEMMER ownership change
3 Feb 21
4
SHORE BANCSHARES / William E. Esham III ownership change
3 Feb 21
4
SHORE BANCSHARES / James A Judge ownership change
3 Feb 21
4
SHORE BANCSHARES / CLYDE V. KELLY III ownership change
3 Feb 21
4
SHORE BANCSHARES / Frank E Mason III ownership change
3 Feb 21
Reddit threads
Daily Discussion Thread - February 11th, 2021
11 Feb 21
Daily Discussion Thread - February 10th, 2021
10 Feb 21
Daily Discussion Thread - February 9th, 2021
9 Feb 21
Daily Discussion Thread - February 8th, 2021
8 Feb 21
Daily Discussion Thread - November 12th, 2020
12 Nov 20
Daily Discussion Thread - November 11th, 2020
11 Nov 20
Daily Discussion Thread - November 10th, 2020
10 Nov 20
Daily Discussion Thread - November 9th, 2020
9 Nov 20