The Board of Directors of Shore Bancshares, Inc. announced that Lloyd L. "Scott" Beatty, Jr., 60, President and Chief Operating Officer, has been promoted to Chief Executive Officer of the company, effective June 1, 2013. In this new capacity, Mr. Beatty also will continue to serve as President of the bank holding company, succeeding W. Moorhead Vermilye, 72. Mr. Vermilye will remain a director of both the parent company, Shore Bancshares, Inc., and its lead subsidiary, The Talbot Bank of Easton, Maryland.

He will formally become Senior Business Development Officer of Talbot Bank and will also hold responsibility for directing the holding company's strategic corporate citizenship; community outreach and employee volunteer efforts across the Delmarva markets. Mr. Beatty has served as a Director of Shore Bancshares, Inc. since December 2000. He has been a Director of Talbot Bank since 1992.

Mr. Beatty's previous position as EVP and COO is one he has held since August 2007. Prior to that, Mr. Beatty served as Vice President and COO since July 2006 and as Vice President since October 2004. Before joining the company, Mr. Beatty was the Chief Operating Officer of Darby Overseas Investments, LP, a global private equity firm, and President of Darby Advisors, Inc., from 1998 to 2005.

Mr. Vermilye has served as President, Chief Executive Officer and Director of Shore Bancshares, Inc. since December 2000. He has also served as Director of Talbot Bank since 1977. From 1988 until July 2006, Mr. Vermilye also served as the President and Chief Executive Officer of Talbot Bank.

From 1970 to 1988, Mr. Vermilye was a Principal in Bartlett, Griffin & Vermilye Insurance Agency, located in Easton, Maryland.