Company Quick10K Filing
Shore Bancshares
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 13 $200
10-Q 2019-11-08 Quarter: 2019-09-30
10-Q 2019-08-09 Quarter: 2019-06-30
10-Q 2019-05-10 Quarter: 2019-03-31
10-K 2019-03-15 Annual: 2018-12-31
10-Q 2018-11-08 Quarter: 2018-09-30
10-Q 2018-08-09 Quarter: 2018-06-30
10-Q 2018-05-10 Quarter: 2018-03-31
10-K 2018-03-16 Annual: 2017-12-31
10-Q 2017-11-09 Quarter: 2017-09-30
10-Q 2017-08-09 Quarter: 2017-06-30
10-Q 2017-05-09 Quarter: 2017-03-31
10-K 2017-03-16 Annual: 2016-12-31
10-Q 2016-11-09 Quarter: 2016-09-30
10-Q 2016-08-09 Quarter: 2016-06-30
10-Q 2016-05-06 Quarter: 2016-03-31
10-K 2016-03-11 Annual: 2015-12-31
10-Q 2015-11-09 Quarter: 2015-09-30
10-Q 2015-08-10 Quarter: 2015-06-30
10-Q 2015-05-11 Quarter: 2015-03-31
10-K 2015-03-13 Annual: 2014-12-31
10-Q 2014-11-12 Quarter: 2014-09-30
10-Q 2014-08-14 Quarter: 2014-06-30
10-Q 2014-05-09 Quarter: 2014-03-31
10-K 2014-03-20 Annual: 2013-12-31
10-Q 2013-11-14 Quarter: 2013-09-30
10-Q 2013-08-14 Quarter: 2013-06-30
10-Q 2013-05-15 Quarter: 2013-03-31
10-K 2013-03-15 Annual: 2012-12-31
10-Q 2012-11-09 Quarter: 2012-09-30
10-Q 2012-08-09 Quarter: 2012-06-30
10-Q 2012-05-09 Quarter: 2012-03-31
10-K 2012-03-15 Annual: 2011-12-31
10-Q 2011-11-09 Quarter: 2011-09-30
10-Q 2011-08-09 Quarter: 2011-06-30
10-Q 2011-05-10 Quarter: 2011-03-31
10-K 2011-03-15 Annual: 2010-12-31
10-Q 2010-11-09 Quarter: 2010-09-30
10-Q 2010-08-09 Quarter: 2010-06-30
10-Q 2010-05-10 Quarter: 2010-03-31
10-K 2010-03-16 Annual: 2009-12-31
8-K 2020-02-10 Other Events, Exhibits
8-K 2020-01-30 Earnings, Exhibits
8-K 2020-01-03 Officers, Regulation FD, Exhibits
8-K 2019-11-06 Other Events, Exhibits
8-K 2019-10-24 Earnings, Exhibits
8-K 2019-09-18 Regulation FD, Exhibits
8-K 2019-09-11 Regulation FD, Exhibits
8-K 2019-08-07 Other Events, Exhibits
8-K 2019-07-25 Earnings, Exhibits
8-K 2019-07-19 Officers, Exhibits
8-K 2019-06-26 Regulation FD, Exhibits
8-K 2019-05-08 Other Events, Exhibits
8-K 2019-04-25 Earnings, Exhibits
8-K 2019-04-24 Shareholder Vote, Regulation FD, Other Events, Exhibits
8-K 2019-04-15 Other Events, Exhibits
8-K 2019-02-28 Officers
8-K 2019-02-05 Other Events, Exhibits
8-K 2019-01-31 Earnings, Exhibits
8-K 2019-01-14 Officers, Regulation FD, Exhibits
8-K 2018-12-31 Officers, Regulation FD, Other Events, Exhibits
8-K 2018-12-17 Other Events, Exhibits
8-K 2018-11-07 Regulation FD, Exhibits
8-K 2018-11-05 Other Events, Exhibits
8-K 2018-11-01 Officers, Exhibits
8-K 2018-10-18 Earnings, Exhibits
8-K 2018-09-18 Regulation FD, Exhibits
8-K 2018-09-12 Regulation FD, Exhibits
8-K 2018-08-31 Officers
8-K 2018-08-08 Other Events, Exhibits
8-K 2018-07-31 Regulation FD, Exhibits
8-K 2018-07-26 Earnings, Exhibits
8-K 2018-05-09 Other Events, Exhibits
8-K 2018-04-25 Shareholder Vote
8-K 2018-04-19 Earnings, Exhibits
8-K 2018-02-01 Other Events, Exhibits
8-K 2018-01-25 Earnings, Exhibits

Shore Bancshares Financials

SHBI Metrics, Comps, Filings

Annual | Quarterly

Business

The Company was incorporated under the laws of Maryland on March 15, 1996 and is a financial holding company registered under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company is the largest independent financial holding company located on the Eastern Shore of Maryland. The Company, through its subsidiary, provides commercial banking products and services, including trust, wealth management and financial planning services. The Company and Shore United Bank (the “Bank”) are Affirmative Action/Equal Opportunity Employers.

On December 31, 2018, the Company sold the assets and activities of its insurance business, The Avon-Dixon Agency, LLC (“Avon”), a Maryland limited liability company, with two specialty lines, trading as Elliot Wilson Insurance (Trucking) and Jack Martin & Associates (Marine). The Company received net proceeds from the sale of $25.2 million. In addition, the Company discontinued operations of its insurance premium finance business, Mubell, LLC (“Mubell”), a Maryland limited liability company which it plans to sell or dispose of in the next year. Additional details related to the sale of Avon and the discontinuing operations of Mubell can be located in Note 2 to the Company's Consolidated Financial Statements included in Item 8 of Part II of this annual report.

On May 19, 2017, the Bank purchased three branches from Northwest Bank (“NWBI”) located in Arbutus, Elkridge, and Owings Mills, Maryland. Pursuant to the transaction, the Bank acquired $122.9 million in loans and $212.5 million in deposits, as well as the branch premises and equipment. In connection with its purchase of the branches from NWBI, the Bank received a cash payment from NWBI of $64.0 million, which was net of a premium paid on deposits of $17.2 million. Total acquisition costs totaled $18.2 million. This acquisition provided the Bank with the opportunity to enhance its footprint in Maryland by extending its branch network across the Eastern Shore to the greater Baltimore area communities of Elkridge, Owings Mills and Arbutus. Additional details related to the purchase of branches from NWBI can be located in Note 3 to the Company's Consolidated Financial Statements included in Item 8 of Part II of this annual report.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Premier Financial Bancorp (PFBI) 221 3.3 1% 1,704 1,472 0 0 23 38 125
Select Bancorp (SLCT) 221 0% 4.4 1% 1,317 1,100 1 0 16 31 135
MVB Financial (MVBF) 220 0% 7.0 1% 1,833 1,632 2 0 25 57 402
Bankwell Financial (BWFG) 216 2.5 1% 1,860 1,683 0 0 19 54 137
SB One Bank (SBBX) 212 5.1 1% 1,866 1,674 0 0 18 43 218
First Internet Bancorp (INBK) 210 -1.4 1% 3,959 3,663 0 0 22 99 -138
Mid Penn Bancorp (MPB) 209 3.7 1% 2,136 1,905 0 0 15 43 161
Norwood Financial (NWFL) 205 0% 9.0 1% 1,223 1,091 3 0 14 26 230
First Business Financial Services (FBIZ) 204 2.9 1% 2,070 1,881 0 0 22 54 159
Penns Woods Bancorp (PWOD) 201 0% 3.6 1% 1,712 1,560 1 0 16 33 122
Shore Bancshares (SHBI) 200 0% 4.6 2% 1,489 1,297 5 0 25 38 176
Pacific Mercantile Bancorp (PMBC) 197 -2.3 1% 1,419 1,273 0 0 12 30 -68
Bank of Commerce Holdings (BOCH) 191 6.2 1% 1,442 1,274 0 0 15 26 160
DNB Financial (DNBF) 190 5.7 1% 1,154 1,036 0 0 11 25 144
Midsouth Bancorp (MSL) 190 1.5 -2% 1,715 1,494 0 0 -36 -28 -42
Community Financial (TCFC) 189 0% 4.6 1% 1,756 1,593 28 0 15 40 181
United Security Bancshares (UBFO) 187 -4.9 2% 1,006 893 0 0 16 25 -123
Coastal Financial (CCB) 186 6.1 1% 1,031 914 0 0 12 22 132
Level One Bancorp (LEVL) 184 4.9 1% 1,505 1,343 0 0 14 36 180
Northeast Bancorp (NBN) 177 0.5 2% 1,231 1,078 0 0 19 46 25

Balance Sheet ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash128112213267
Accounts Receivable
Inventory
PP&E1532716442323
Assets1,1581181081431501571,3941,483
Accounts Payable
Long-Term Debt02221115
Liabilities1,03749513331,2301,300
Stockholders' Equity121114103140147154164183
Income Statement ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A00111
Tax-1-0001095
Net Income-1-0-057101125
Cash Flow ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating223213121718
Cash Investing-3-230-900-0-70-42
Cash Financing31-1031-1-2960