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Mar 31, 2021
Shore Bancshares Q1 2021 Earnings Report
Reported positive financial results with an improving credit profile.
Key Takeaways
Shore Bancshares reported a net income of $3.998 million, or $0.34 per diluted common share, for the first quarter of 2021. The company's markets are experiencing positive indications of an improving economy and healthy loan demand.
Net income increased $880 thousand compared to Q1 2020 due to increases in total interest income and noninterest income, coupled with a decrease in interest expense.
Total assets were $2.040 billion, a $106.3 million increase compared to the end of 2020.
Total deposits increased $99.9 million compared to December 31, 2020.
The company anticipates that future quarters will be impacted by the recognition of additional merger-related expenses with Severn Bancorp, Inc.
Forward Guidance
The Company anticipates that future quarters will be impacted by the recognition of additional merger-related expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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