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Jun 30, 2021
Shore Bancshares Q2 2021 Earnings Report
Shore Bancshares reported second quarter earnings, showing a slight increase in net income compared to the previous quarter but a decrease compared to the same quarter last year.
Key Takeaways
Shore Bancshares, Inc. reported a net income of $4.031 million, or $0.34 per diluted common share, for the second quarter of 2021. This represents a slight increase compared to the first quarter of 2021 but a decrease compared to the second quarter of 2020. The company's performance was influenced by factors such as increased net interest income, noninterest income, and merger-related expenses.
Net income for Q2 2021 was $4.031 million, or $0.34 per diluted common share.
Total assets increased to $2.120 billion at June 30, 2021, a 9.7% increase compared to the end of 2020.
Total deposits increased by $179.9 million, or 10.6%, compared to December 31, 2020.
The company processed a total of 2,454 loans for a cumulative balance of $196.0 million through both rounds of the PPP program.
Forward Guidance
Shore Bancshares anticipates maintaining its quarterly cash dividends based on its strong capital position and remains focused on core earnings and enhanced returns for its shareholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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