Shore Bancshares reported a strong second quarter with net income increasing to $7.499 million, or $0.38 per diluted common share. The company saw growth in net interest income and noninterest income, partially offset by an increase in noninterest expenses due to the acquisition of Severn Bank.
Net income for the second quarter of 2022 was $7.499 million, or $0.38 per diluted common share.
Net interest income increased to $24.6 million for the second quarter of 2022.
Total assets were $3.443 billion at June 30, 2022.
The net interest margin increased to 3.10% for the second quarter of 2022.
The company's outlook for the remainder of 2022 is positive, with a focus on core earnings and enhanced returns for shareholders.
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