Welcome to our dedicated page for Shore Bancshares news (Ticker: SHBI), a resource for investors and traders seeking the latest updates and insights on Shore Bancshares stock.
Shore Bancshares Inc (SHBI) delivers community-focused financial services through Shore United Bank across the Mid-Atlantic region. This page provides centralized access to all official company announcements, offering stakeholders timely insights into its operations.
Find curated updates including quarterly earnings reports, strategic mergers, and leadership developments. Investors gain critical information about SHBI's community initiatives, mortgage banking trends, and insurance service expansions through verified press releases.
Content spans regulatory filings, product launches, and market positioning updates relevant to retail banking and commercial clients. Bookmark this resource for efficient tracking of SHBI's financial performance and community impact.
Shore Bancshares, Inc. reported a net income of $8.2 million for Q1 2024, down from $10.5 million in Q4 2023. The company faced credit card fraud, resulting in a $4.3 million expense, impacting EPS. Despite stable net interest margins, deposits decreased by $201.8 million. The company plans to close branches and consolidate office space to reduce expenses. Total assets decreased to $5.8 billion. Nonperforming assets increased, but coverage ratios remain stable. Noninterest income decreased, while noninterest expenses rose significantly. The company declared a quarterly dividend of $0.12 per share.
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