Shore Bancshares Reports Second Quarter and First-Half Financial Results

EASTON, Md., July 27, 2023 /PRNewswire/ -- Shore Bancshares, Inc. (NASDAQ: SHBI) (the "Company" or "Shore Bancshares") reported net income of $4.018 million or $0.20 per diluted common share for the second quarter of 2023, compared to net income of $6.457 million or $0.32 per diluted common share for the first quarter of 2023, and net income of $7.499 million or $0.38 per diluted common share for the second quarter of 2022. Net income, excluding merger-related expenses, for the second quarter of 2023 was $4.890 million or $0.25 per diluted common share, compared to net income, excluding merger-related expenses, of $6.959 million or $0.35 per diluted common share for the first quarter of 2023 and net income, excluding merger-related expenses, of $7.674 million or $0.39 per diluted common share for the second quarter 2022. Net income for the first half of 2023 was $10.475 million or $0.53 per diluted common share, compared to net income for the first half of 2022 of $13.112 million or $0.66 per diluted common share.