Shore Bancshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 04:15 pm
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Shore Bancshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 22.49 million compared to USD 24.62 million a year ago. Net income was USD 4.02 million compared to USD 7.5 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to USD 0.38 a year ago.
For the six months, net interest income was USD 48.16 million compared to USD 47.05 million a year ago. Net income was USD 10.48 million compared to USD 13.11 million a year ago. Basic earnings per share from continuing operations was USD 0.53 compared to USD 0.66 a year ago. Diluted earnings per share from continuing operations was USD 0.53 compared to USD 0.66 a year ago.
Shore Bancshares, Inc. is a financial holding company. The Company conducts business primarily through two wholly owned subsidiaries, Shore United Bank, N.A. (the Bank) and Mid-Maryland Title Company, Inc. (the Title Company). The Bank provides consumer and commercial banking products and services and secondary mortgage lending, trust, wealth management and financial planning services. The Bank is a national banking association chartered, which operates 42 full-service branches, 42 automatic teller machines (ATM), three interactive teller machines, five loan production offices. The Bank provides a full range of commercial and consumer banking products and services to individuals, businesses, and other organizations in Baltimore County, Howard County, Kent County, Queen Annes County, Caroline County, Talbot County, Dorchester County, Anne Arundel County, Charles County, St Marys County and others. The Title Company engages in title work related to real estate transactions.