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Mar 31, 2022
Shore Bancshares Q1 2022 Earnings Report
Shore Bancshares reported increased earnings due to loan and deposit growth.
Key Takeaways
Shore Bancshares reported a net income of $5.613 million for Q1 2022, an increase compared to both Q4 2021 and Q1 2021. The growth was attributed to significant increases in loans and deposits, reflecting the company's competitive position and expansion in Central Maryland and Delaware.
Net income for Q1 2022 was $5.613 million, or $0.28 per diluted common share.
Total assets reached $3.494 billion, a 1.0% increase from the end of 2021.
Net interest income increased to $22.4 million, driven by growth in interest and fees on loans.
Total deposits increased by $42.3 million, primarily due to additional checking deposits.
Forward Guidance
The company did not provide specific forward guidance but mentioned factors that could affect future results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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