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Shore Bancshares (SHBI) Financials

Shore Bancshares logo
$17.30 +0.38 (+2.25%)
Closing price 04:00 PM Eastern
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$17.30 0.00 (0.00%)
As of 04:04 PM Eastern
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Annual Income Statements for Shore Bancshares

Annual Income Statements for Shore Bancshares

This table shows Shore Bancshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 31 11 44
Consolidated Net Income / (Loss)		 31 11 44
Net Income / (Loss) Continuing Operations		 31 11 44
Total Pre-Tax Income 		42 14 59
Total Revenue		 124 168 202
Net Interest Income / (Expense)		 101 135 171
Total Interest Income		 114 214 295
Loans and Leases Interest Income		 99 194 270
Investment Securities Interest Income		 12 17 19
Deposits and Money Market Investments Interest Income		 3.21 2.77 6.24
Federal Funds Sold and Securities Borrowed Interest Income		 0.00 0.09 0.00
Total Interest Expense		 13 79 125
Deposits Interest Expense		 9.98 69 115
Short-Term Borrowings Interest Expense		 0.07 5.52 2.13
Long-Term Debt Interest Expense		 2.49 4.45 7.36
Total Non-Interest Income		 23 33 31
Trust Fees by Commissions		 1.78 3.61 3.37
Service Charges on Deposit Accounts		 5.65 5.50 6.15
Other Service Charges		 4.29 7.17 8.50
Net Realized & Unrealized Capital Gains on Investments		 0.00 9.63 5.02
Other Non-Interest Income		 11 7.25 8.11
Provision for Credit Losses		 1.93 31 4.74
Total Non-Interest Expense		 80 123 138
Salaries and Employee Benefits		 36 57 67
Net Occupancy & Equipment Expense		 15 19 25
Property & Liability Insurance Claims		 4.27 7.82 10
Other Operating Expenses		 21 16 26
Amortization Expense		 1.99 6.11 9.78
Restructuring Charge		 2.10 17 0.00
Income Tax Expense		 11 2.96 15
Basic Earnings per Share		 $1.57 $0.42 $1.32
Weighted Average Basic Shares Outstanding		 19.90M 33.21M 33.35M
Diluted Earnings per Share		 $1.57 $0.42 $1.32
Weighted Average Diluted Shares Outstanding		 19.90M 33.21M 33.35M
Weighted Average Basic & Diluted Shares Outstanding		 19.90M 33.21M 33.35M
Cash Dividends to Common per Share		 $0.48 $0.48 $0.48

Quarterly Income Statements for Shore Bancshares

This table shows Shore Bancshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 9.66 8.41 6.46 4.02 -9.74 10 8.18 11 11 13
Consolidated Net Income / (Loss)		 9.66 8.41 6.46 4.02 -9.74 10 8.18 11 11 13
Net Income / (Loss) Continuing Operations		 9.66 8.41 6.46 4.02 -9.74 10 8.18 11 11 13
Total Pre-Tax Income 		13 11 8.89 5.51 -15 15 11 15 15 18
Total Revenue		 33 33 31 28 61 49 48 51 51 53
Net Interest Income / (Expense)		 27 27 26 22 46 42 41 42 43 44
Total Interest Income		 31 32 35 37 71 71 71 73 75 76
Loans and Leases Interest Income		 26 28 31 33 65 66 66 67 69 67
Investment Securities Interest Income		 3.19 3.95 4.07 3.73 5.07 4.00 4.43 5.24 4.97 4.84
Deposits and Money Market Investments Interest Income		 1.47 0.66 0.16 0.17 1.21 1.22 0.96 0.58 0.56 4.14
Total Interest Expense		 3.26 5.34 9.40 14 26 30 30 31 31 32
Deposits Interest Expense		 2.56 4.55 7.28 9.91 23 28 28 28 29 30
Long-Term Debt Interest Expense		 0.70 0.71 0.76 0.78 1.46 1.46 1.45 1.80 2.08 2.03
Total Non-Interest Income		 5.34 5.86 5.33 5.29 15 7.55 6.57 8.44 7.29 8.85
Trust Fees by Commissions		 0.42 0.40 0.43 0.40 1.93 0.84 0.73 0.90 0.88 0.86
Service Charges on Deposit Accounts		 1.51 1.35 1.21 1.26 1.51 1.52 1.51 1.49 1.54 1.61
Other Service Charges		 1.49 0.68 1.36 1.08 1.87 2.86 1.94 2.19 1.98 2.40
Other Non-Interest Income		 1.92 3.44 2.33 2.55 3.02 -0.65 2.39 3.87 2.89 -1.03
Provision for Credit Losses		 0.68 0.45 1.21 0.67 28 0.90 0.41 2.08 1.47 0.78
Total Non-Interest Expense		 19 21 21 22 47 34 37 33 34 34
Salaries and Employee Benefits		 8.56 8.91 8.68 8.96 14 25 12 13 13 28
Net Occupancy & Equipment Expense		 3.79 4.20 3.95 3.82 5.48 5.88 6.19 6.31 6.34 6.64
Property & Liability Insurance Claims		 1.10 0.95 1.12 1.72 1.84 3.14 2.75 2.44 2.52 2.54
Other Operating Expenses		 4.80 5.51 6.01 5.49 8.16 -3.73 13 8.87 9.72 -5.75
Amortization Expense		 0.50 0.46 0.44 0.44 2.63 2.60 2.58 2.57 2.34 2.30
Income Tax Expense		 3.43 2.95 2.44 1.50 -4.99 4.02 2.41 3.77 3.78 4.86
Basic Earnings per Share		 $0.49 $0.42 $0.32 $0.20 ($0.29) $0.19 $0.25 $0.34 $0.34 $0.39
Weighted Average Basic Shares Outstanding		 19.86M 19.90M 19.90M 33.12M 33.15M 33.21M 33.21M 33.32M 33.33M 33.35M
Diluted Earnings per Share		 $0.49 $0.42 $0.32 $0.20 ($0.29) $0.19 $0.25 $0.34 $0.34 $0.39
Weighted Average Diluted Shares Outstanding		 19.86M 19.90M 19.90M 33.12M 33.15M 33.21M 33.21M 33.32M 33.33M 33.35M
Weighted Average Basic & Diluted Shares Outstanding		 19.86M 19.90M 19.90M 33.12M 33.15M 33.21M 33.21M 33.32M 33.33M 33.35M
Cash Dividends to Common per Share		 $0.12 $0.12 $0.12 $0.12 $0.12 $0.12 $0.12 $0.12 $0.12 $0.12

Annual Cash Flow Statements for Shore Bancshares

This table details how cash moves in and out of Shore Bancshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -528 317 87
Net Cash From Operating Activities		 53 23 47
Net Cash From Continuing Operating Activities		 53 23 47
Net Income / (Loss) Continuing Operations		 31 11 44
Consolidated Net Income / (Loss)		 31 11 44
Provision For Loan Losses		 1.93 31 4.74
Depreciation Expense		 5.86 11 16
Amortization Expense		 1.54 0.96 -0.42
Non-Cash Adjustments to Reconcile Net Income		 22 -18 -18
Changes in Operating Assets and Liabilities, net		 -9.66 -13 0.66
Net Cash From Investing Activities		 -582 172 -135
Net Cash From Continuing Investing Activities		 -582 172 -135
Purchase of Property, Leasehold Improvements and Equipment		 -2.45 -5.95 -5.22
Acquisitions		 0.00 25 0.00
Purchase of Investment Securities		 -654 -386 -286
Sale of Property, Leasehold Improvements and Equipment		 0.00 0.72 0.95
Sale and/or Maturity of Investments		 75 538 156
Net Cash From Financing Activities		 0.81 122 175
Net Cash From Continuing Financing Activities		 0.81 122 175
Net Change in Deposits		 -16 243 141
Issuance of Debt		 36 -109 50
Issuance of Common Equity		 0.39 0.39 0.38
Payment of Dividends		 -9.53 -13 -16
Cash Interest Paid		 13 74 124
Cash Income Taxes Paid		 12 7.29 0.00

Quarterly Cash Flow Statements for Shore Bancshares

This table details how cash moves in and out of Shore Bancshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -240 -108 -18 8.12 63 264 -258 24 45 276
Net Cash From Operating Activities		 7.01 2.59 11 -0.57 -24 36 2.39 3.03 9.05 32
Net Cash From Continuing Operating Activities		 7.01 2.59 11 -0.57 -24 36 2.39 3.03 9.05 32
Net Income / (Loss) Continuing Operations		 9.66 8.41 6.46 4.02 -9.74 10 8.18 11 11 13
Consolidated Net Income / (Loss)		 9.66 8.41 6.46 4.02 -9.74 10 8.18 11 11 13
Provision For Loan Losses		 0.68 0.45 1.21 0.67 28 0.90 0.41 2.08 1.47 0.78
Depreciation Expense		 1.35 1.61 1.38 1.36 4.10 4.09 4.10 4.12 3.82 4.00
Amortization Expense		 1.19 0.32 0.28 0.44 0.10 0.14 0.07 -8.28 7.67 0.11
Non-Cash Adjustments to Reconcile Net Income		 -3.85 -3.82 -0.37 -4.28 -20 6.80 -6.90 -7.79 -7.61 4.28
Changes in Operating Assets and Liabilities, net		 -2.01 -4.38 2.26 -2.77 -26 14 -3.48 1.66 -7.49 9.97
Net Cash From Investing Activities		 -246 -133 -103 -77 396 -44 -54 -20 -5.94 -54
Net Cash From Continuing Investing Activities		 -246 -133 -103 -77 396 -44 -54 -20 -5.94 -54
Purchase of Property, Leasehold Improvements and Equipment		 -0.59 -0.14 -0.62 -1.15 -1.89 -2.30 -1.77 -1.59 -0.61 -1.26
Purchase of Investment Securities		 -266 -150 -123 -97 -104 -62 -71 -98 -46 -70
Sale of Property, Leasehold Improvements and Equipment		 - - - - - - - - - 0.95
Sale and/or Maturity of Investments		 21 17 21 21 477 20 19 80 41 16
Net Cash From Financing Activities		 -1.12 22 74 85 -309 272 -206 41 42 298
Net Cash From Continuing Financing Activities		 -1.12 22 74 85 -309 272 -206 41 42 298
Net Change in Deposits		 1.14 -5.37 -15 -57 40 276 -202 -36 77 302
Issuance of Common Equity		 0.13 0.12 0.09 0.10 0.08 0.11 0.10 0.12 0.10 0.06
Payment of Dividends		 -2.38 -2.38 -2.39 -2.39 -3.98 -3.98 -3.98 -4.01 -4.02 -4.00
Cash Interest Paid		 3.60 4.92 13 9.13 25 27 31 30 31 32

Annual Balance Sheets for Shore Bancshares

This table presents Shore Bancshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 3,477 6,011 6,231
Cash and Due from Banks		 38 63 44
Interest Bearing Deposits at Other Banks		 18 309 416
Trading Account Securities		 96 134 175
Loans and Leases, Net of Allowance		 2,539 4,584 4,714
Loans and Leases		 2,556 4,641 4,772
Allowance for Loan and Lease Losses		 17 57 58
Loans Held for Sale		 4.25 8.78 20
Premises and Equipment, Net		 51 82 82
Goodwill		 63 63 63
Intangible Assets		 5.55 48 38
Other Assets		 662 718 679
Total Liabilities & Shareholders' Equity		 3,477 6,011 6,231
Total Liabilities		 3,113 5,500 5,690
Non-Interest Bearing Deposits		 862 1,258 1,563
Interest Bearing Deposits		 2,148 4,128 3,966
Long-Term Debt		 83 73 124
Other Long-Term Liabilities		 20 41 38
Commitments & Contingencies		 - 0.00 0.00
Total Equity & Noncontrolling Interests		 364 511 541
Total Preferred & Common Equity		 364 511 541
Total Common Equity		 364 511 541
Common Stock		 202 356 358
Retained Earnings		 172 162 190
Accumulated Other Comprehensive Income / (Loss)		 -9.02 -7.49 -7.55

Quarterly Balance Sheets for Shore Bancshares

This table presents Shore Bancshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 3,447 3,554 3,642 5,705 5,826 5,864 5,918
Cash and Due from Banks		 34 24 35 68 43 50 52
Interest Bearing Deposits at Other Banks		 129 14 10 41 71 89 131
Trading Account Securities		 668 98 101 98 203 159 160
Loans and Leases, Net of Allowance		 2,386 2,640 -29 -57 -57 4,647 4,675
Loans and Leases		 2,402 2,669 0.00 - - 4,706 4,734
Allowance for Loan and Lease Losses		 16 28 29 57 57 58 59
Loans Held for Sale		 8.34 3.51 6.85 15 14 28 27
Premises and Equipment, Net		 52 51 51 81 83 82 82
Goodwill		 63 63 63 63 63 63 63
Intangible Assets		 6.01 5.11 4.67 51 46 43 41
Other Assets		 100 3,296 3,398 5,289 5,302 703 687
Total Liabilities & Shareholders' Equity		 3,447 3,554 3,642 5,705 5,826 5,864 5,918
Total Liabilities		 3,090 3,192 3,278 5,204 5,310 5,341 5,384
Non-Interest Bearing Deposits		 894 809 779 1,211 1,201 1,587 1,571
Interest Bearing Deposits		 2,122 2,186 2,159 3,897 3,984 3,562 3,654
Long-Term Debt		 53 175 319 72 73 154 123
Other Long-Term Liabilities		 21 23 22 23 54 39 35
Total Equity & Noncontrolling Interests		 357 362 363 502 515 523 533
Total Preferred & Common Equity		 357 362 363 502 515 523 533
Total Common Equity		 357 362 363 502 515 523 533
Common Stock		 201 202 202 356 357 357 358
Retained Earnings		 166 168 169 156 166 174 181
Accumulated Other Comprehensive Income / (Loss)		 -9.78 -8.16 -8.56 -10 -8.06 -8.26 -5.53

Annual Metrics And Ratios for Shore Bancshares

This table displays calculated financial ratios and metrics derived from Shore Bancshares' official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 60.24% 35.44% 19.73%
EBITDA Growth		 90.77% -47.35% 184.94%
EBIT Growth		 98.97% -66.34% 313.87%
NOPAT Growth		 102.87% -63.99% 290.89%
Net Income Growth		 102.87% -63.99% 290.89%
EPS Growth		 34.19% -73.25% 214.29%
Operating Cash Flow Growth		 801.68% -56.86% 106.43%
Free Cash Flow Firm Growth		 95.09% -1,382.41% 70.38%
Invested Capital Growth		 9.72% 30.50% 13.87%
Revenue Q/Q Growth		 5.99% 10.69% 1.92%
EBITDA Q/Q Growth		 18.03% 26.46% 4.95%
EBIT Q/Q Growth		 21.16% 28.57% 6.60%
NOPAT Q/Q Growth		 22.30% 22.78% 6.79%
Net Income Q/Q Growth		 22.30% 22.78% 6.79%
EPS Q/Q Growth		 25.60% -35.38% 17.86%
Operating Cash Flow Q/Q Growth		 95.12% 310.91% -7.22%
Free Cash Flow Firm Q/Q Growth		 94.55% 18.82% 11.73%
Invested Capital Q/Q Growth		 9.05% 1.78% 1.23%
Profitability Metrics		 - - -
EBITDA Margin		 39.83% 15.48% 36.85%
EBIT Margin		 33.88% 8.42% 29.11%
Profit (Net Income) Margin		 25.06% 6.66% 21.76%
Tax Burden Percent		 73.98% 79.16% 74.76%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 26.02% 20.84% 25.24%
Return on Invested Capital (ROIC)		 7.29% 2.18% 7.03%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.29% 2.18% 7.03%
Return on Net Nonoperating Assets (RNNOA)		 1.43% 0.39% 1.31%
Return on Equity (ROE)		 8.72% 2.57% 8.34%
Cash Return on Invested Capital (CROIC)		 -1.98% -24.29% -5.94%
Operating Return on Assets (OROA)		 1.21% 0.30% 0.96%
Return on Assets (ROA)		 0.90% 0.24% 0.72%
Return on Common Equity (ROCE)		 8.72% 2.57% 8.34%
Return on Equity Simple (ROE_SIMPLE)		 8.56% 2.20% 8.11%
Net Operating Profit after Tax (NOPAT)		 31 11 44
NOPAT Margin		 25.06% 6.66% 21.76%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 41.07% 45.19% 45.64%
Operating Expenses to Revenue		 64.57% 73.21% 68.55%
Earnings before Interest and Taxes (EBIT)		 42 14 59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 50 26 74
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.89 0.88 0.97
Price to Tangible Book Value (P/TBV)		 1.09 1.13 1.19
Price to Revenue (P/Rev)		 2.60 2.68 2.60
Price to Earnings (P/E)		 10.36 40.18 11.95
Dividend Yield		 3.69% 3.53% 3.05%
Earnings Yield		 9.65% 2.49% 8.37%
Enterprise Value to Invested Capital (EV/IC)		 0.78 0.26 0.28
Enterprise Value to Revenue (EV/Rev)		 2.82 0.90 0.93
Enterprise Value to EBITDA (EV/EBITDA)		 7.08 5.81 2.53
Enterprise Value to EBIT (EV/EBIT)		 8.32 10.68 3.21
Enterprise Value to NOPAT (EV/NOPAT)		 11.24 13.49 4.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.66 6.67 4.02
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.23 0.14 0.23
Long-Term Debt to Equity		 0.23 0.14 0.23
Financial Leverage		 0.20 0.18 0.19
Leverage Ratio		 9.70 10.84 11.63
Compound Leverage Factor		 9.70 10.84 11.63
Debt to Total Capital		 18.57% 12.45% 18.61%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 18.57% 12.45% 18.61%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 81.43% 87.55% 81.39%
Debt to EBITDA		 1.68 2.79 1.66
Net Debt to EBITDA		 0.56 -11.49 -4.52
Long-Term Debt to EBITDA		 1.68 2.79 1.66
Debt to NOPAT		 2.66 6.47 2.82
Net Debt to NOPAT		 0.88 -26.70 -7.66
Long-Term Debt to NOPAT		 2.66 6.47 2.82
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -8.45 -125 -37
Operating Cash Flow to CapEx		 2,149.73% 434.03% 1,096.00%
Free Cash Flow to Firm to Interest Expense		 -0.67 -1.59 -0.30
Operating Cash Flow to Interest Expense		 4.20 0.29 0.38
Operating Cash Flow Less CapEx to Interest Expense		 4.00 0.22 0.34
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.04 0.03
Fixed Asset Turnover		 2.41 2.52 2.46
Capital & Investment Metrics		 - - -
Invested Capital		 447 584 665
Invested Capital Turnover		 0.29 0.33 0.32
Increase / (Decrease) in Invested Capital		 40 136 81
Enterprise Value (EV)		 351 151 188
Market Capitalization		 323 451 524
Book Value per Share		 $18.34 $15.42 $16.24
Tangible Book Value per Share		 $14.88 $12.06 $13.19
Total Capital		 447 584 665
Total Debt		 83 73 124
Total Long-Term Debt		 83 73 124
Net Debt		 28 -300 -336
Capital Expenditures (CapEx)		 2.45 5.23 4.28
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 83 73 124
Total Depreciation and Amortization (D&A)		 7.40 12 16
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.57 $0.42 $1.32
Adjusted Weighted Average Basic Shares Outstanding		 19.90M 33.21M 33.35M
Adjusted Diluted Earnings per Share		 $1.57 $0.42 $1.32
Adjusted Weighted Average Diluted Shares Outstanding		 19.90M 33.21M 33.35M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 19.90M 33.21M 33.35M
Normalized Net Operating Profit after Tax (NOPAT)		 33 25 44
Normalized NOPAT Margin		 26.31% 14.82% 21.76%
Pre Tax Income Margin		 33.88% 8.42% 29.11%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 3.36 0.18 0.47
NOPAT to Interest Expense		 2.49 0.14 0.35
EBIT Less CapEx to Interest Expense		 3.16 0.11 0.44
NOPAT Less CapEx to Interest Expense		 2.29 0.08 0.32
Payout Ratios		 - - -
Dividend Payout Ratio		 30.57% 113.40% 36.49%
Augmented Payout Ratio		 30.57% 113.40% 36.49%

Quarterly Metrics And Ratios for Shore Bancshares

This table displays calculated financial ratios and metrics derived from Shore Bancshares' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 76.55% 27.30% 8.86% -8.75% 85.57% 49.61% 53.89% 82.02% -16.59% 7.72%
EBITDA Growth		 113.71% 132.31% 10.10% -33.75% -167.40% 41.07% 39.93% 48.23% 351.27% 18.70%
EBIT Growth		 108.59% 184.30% 17.87% -45.72% -212.56% 27.76% 19.17% 172.08% 201.62% 25.05%
NOPAT Growth		 109.23% 208.74% 15.04% -46.42% -206.75% 24.78% 26.75% 179.59% 208.53% 26.62%
Net Income Growth		 109.23% 208.74% 15.04% -46.42% -200.82% 24.78% 26.75% 179.59% 214.91% 26.62%
EPS Growth		 25.64% 320.00% 14.29% -47.37% -159.18% -54.76% -21.88% 70.00% 217.24% 105.26%
Operating Cash Flow Growth		 39.20% 111.21% -55.47% -103.19% -442.44% 1,294.74% -78.73% 631.75% 137.70% -10.12%
Free Cash Flow Firm Growth		 -23,841.46% 83.08% 28.60% -58.33% -1.61% -303.49% 65.36% 106.24% 58.59% 46.25%
Invested Capital Growth		 78.65% 9.72% 32.48% 68.18% 39.83% 30.50% 9.60% -0.84% 14.49% 13.87%
Revenue Q/Q Growth		 7.25% 0.44% -5.50% -10.36% 118.10% -19.03% -2.80% 6.03% -0.06% 4.58%
EBITDA Q/Q Growth		 41.51% -14.96% -20.56% -30.70% -243.95% 278.00% -21.20% -26.59% 144.02% -15.92%
EBIT Q/Q Growth		 28.83% -13.22% -21.69% -38.00% -367.15% 198.50% -26.95% 41.55% -0.23% 21.21%
NOPAT Q/Q Growth		 28.79% -12.95% -23.20% -37.77% -356.59% 201.75% -21.98% 37.27% -0.40% 18.71%
Net Income Q/Q Growth		 28.79% -12.95% -23.20% -37.77% -342.33% 207.73% -21.98% 37.27% -0.40% 18.71%
EPS Q/Q Growth		 28.95% -14.29% -23.81% -37.50% -245.00% 165.52% 31.58% 36.00% 0.00% 14.71%
Operating Cash Flow Q/Q Growth		 -60.73% -63.11% 333.87% -105.08% -4,111.40% 250.25% -93.38% 26.98% 198.58% 258.22%
Free Cash Flow Firm Q/Q Growth		 0.71% 81.74% -300.53% -118.02% 36.28% 27.48% 65.51% 139.24% -523.14% 5.88%
Invested Capital Q/Q Growth		 1.10% 9.05% 19.88% 27.24% -15.94% 1.78% 0.75% 15.11% -2.94% 1.23%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 47.84% 40.50% 34.05% 26.32% -17.37% 38.19% 30.96% 21.44% 52.34% 42.09%
EBIT Margin		 40.07% 34.62% 28.69% 19.84% -24.30% 29.56% 22.22% 29.66% 29.61% 34.32%
Profit (Net Income) Margin		 29.57% 25.63% 20.83% 14.46% -16.07% 21.38% 17.16% 22.21% 22.13% 25.12%
Tax Burden Percent		 73.81% 74.04% 72.62% 72.88% 66.11% 72.31% 77.23% 74.89% 74.76% 73.22%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 26.19% 25.96% 27.38% 27.12% 0.00% 27.69% 22.77% 25.11% 25.24% 26.78%
Return on Invested Capital (ROIC)		 10.85% 7.46% 5.62% 3.30% -5.26% 6.98% 5.65% 6.80% 7.12% 8.12%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.85% 7.46% 5.62% 3.30% -4.35% 6.98% 5.65% 6.80% 7.12% 8.12%
Return on Net Nonoperating Assets (RNNOA)		 1.57% 1.46% 1.79% 1.72% -0.63% 1.24% 1.59% 3.63% 1.35% 1.52%
Return on Equity (ROE)		 12.42% 8.92% 7.41% 5.02% -5.90% 8.23% 7.25% 10.43% 8.47% 9.63%
Cash Return on Invested Capital (CROIC)		 -48.48% -1.98% -21.14% -45.60% -31.35% -24.29% -6.86% 3.82% -6.83% -5.94%
Operating Return on Assets (OROA)		 1.65% 1.24% 1.03% 0.70% -0.81% 1.05% 0.88% 1.30% 1.01% 1.13%
Return on Assets (ROA)		 1.22% 0.92% 0.75% 0.51% -0.53% 0.76% 0.68% 0.97% 0.75% 0.83%
Return on Common Equity (ROCE)		 12.42% 8.92% 7.41% 5.02% -5.90% 8.23% 7.25% 10.43% 8.47% 9.63%
Return on Equity Simple (ROE_SIMPLE)		 7.14% 0.00% 8.85% 7.86% 1.82% 0.00% 2.51% 3.86% 7.71% 0.00%
Net Operating Profit after Tax (NOPAT)		 9.66 8.41 6.46 4.02 -10 10 8.18 11 11 13
NOPAT Margin		 29.57% 25.63% 20.83% 14.46% -17.01% 21.38% 17.16% 22.21% 22.13% 25.12%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% -0.92% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 37.82% 39.95% 40.76% 45.96% 32.44% 63.29% 37.82% 38.78% 38.65% 65.94%
Operating Expenses to Revenue		 57.87% 64.01% 67.40% 77.76% 77.81% 68.61% 76.93% 66.23% 67.49% 64.21%
Earnings before Interest and Taxes (EBIT)		 13 11 8.89 5.51 -15 15 11 15 15 18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 13 11 7.32 -11 19 15 11 26 22
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.89 0.89 0.74 0.60 0.67 0.88 0.73 0.72 0.87 0.97
Price to Tangible Book Value (P/TBV)		 1.10 1.09 0.91 0.74 0.86 1.13 0.92 0.90 1.09 1.19
Price to Revenue (P/Rev)		 2.70 2.60 2.10 1.76 2.20 2.68 2.02 1.81 2.36 2.60
Price to Earnings (P/E)		 12.43 10.36 8.34 7.65 36.57 40.18 28.89 18.68 11.34 11.95
Dividend Yield		 3.01% 3.69% 4.47% 5.46% 7.13% 3.53% 4.26% 4.23% 3.43% 3.05%
Earnings Yield		 8.05% 9.65% 11.99% 13.06% 2.73% 2.49% 3.46% 5.35% 8.82% 8.37%
Enterprise Value to Invested Capital (EV/IC)		 0.50 0.78 0.75 0.72 0.52 0.26 0.57 0.58 0.62 0.28
Enterprise Value to Revenue (EV/Rev)		 1.76 2.82 3.18 3.96 1.96 0.90 1.79 1.88 2.05 0.93
Enterprise Value to EBITDA (EV/EBITDA)		 4.92 7.08 8.00 10.51 14.44 5.81 10.97 11.58 5.73 2.53
Enterprise Value to EBIT (EV/EBIT)		 5.94 8.32 9.29 12.66 26.99 10.68 20.91 15.43 7.37 3.21
Enterprise Value to NOPAT (EV/NOPAT)		 8.10 11.24 12.61 17.23 32.56 13.49 25.65 19.42 9.88 4.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.66 6.66 10.45 24.29 0.00 6.67 23.94 22.40 8.03 4.02
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15.10 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.15 0.23 0.48 0.88 0.14 0.14 0.14 0.29 0.23 0.23
Long-Term Debt to Equity		 0.15 0.23 0.48 0.88 0.14 0.14 0.14 0.29 0.23 0.23
Financial Leverage		 0.15 0.20 0.32 0.52 0.15 0.18 0.28 0.53 0.19 0.19
Leverage Ratio		 10.21 9.70 9.88 9.90 10.66 10.84 10.70 10.73 11.23 11.63
Compound Leverage Factor		 10.21 9.70 9.88 9.90 10.66 10.84 10.70 10.73 11.23 11.63
Debt to Total Capital		 12.92% 18.57% 32.57% 46.78% 12.56% 12.45% 12.34% 22.73% 18.80% 18.61%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 12.92% 18.57% 32.57% 46.78% 12.56% 12.45% 12.34% 22.73% 18.80% 18.61%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 87.08% 81.43% 67.43% 53.22% 87.44% 87.55% 87.66% 77.27% 81.20% 81.39%
Debt to EBITDA		 1.26 1.68 3.46 6.82 3.49 2.79 2.39 4.55 1.74 1.66
Net Debt to EBITDA		 -2.63 0.56 2.71 5.84 -1.78 -11.49 -1.39 0.44 -0.85 -4.52
Long-Term Debt to EBITDA		 1.26 1.68 3.46 6.82 3.49 2.79 2.39 4.55 1.74 1.66
Debt to NOPAT		 2.08 2.66 5.45 11.19 7.88 6.47 5.60 7.63 3.00 2.82
Net Debt to NOPAT		 -4.33 0.88 4.28 9.58 -4.01 -26.70 -3.24 0.74 -1.46 -7.66
Long-Term Debt to NOPAT		 2.08 2.66 5.45 11.19 7.88 6.47 5.60 7.63 3.00 2.82
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -171 -31 -125 -273 -174 -126 -43 17 -72 -68
Operating Cash Flow to CapEx		 1,192.18% 1,834.04% 1,812.60% -49.61% -1,272.80% 1,568.17% 134.63% 191.11% 1,483.61% 10,491.59%
Free Cash Flow to Firm to Interest Expense		 -52.42 -5.85 -13.30 -19.28 -6.78 -4.25 -1.44 0.55 -2.29 -2.09
Operating Cash Flow to Interest Expense		 2.15 0.48 1.19 -0.04 -0.94 1.22 0.08 0.10 0.29 1.00
Operating Cash Flow Less CapEx to Interest Expense		 1.97 0.46 1.13 -0.12 -1.01 1.14 0.02 0.05 0.27 0.99
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.03 0.04 0.04 0.04 0.03 0.03
Fixed Asset Turnover		 2.96 2.41 2.47 2.41 2.28 2.52 2.77 3.12 2.43 2.46
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 410 447 536 682 574 584 588 677 657 665
Invested Capital Turnover		 0.37 0.29 0.27 0.23 0.31 0.33 0.33 0.31 0.32 0.32
Increase / (Decrease) in Invested Capital		 181 40 131 277 163 136 51 -5.76 83 81
Enterprise Value (EV)		 207 351 404 492 298 151 332 392 406 188
Market Capitalization		 317 323 267 218 334 451 374 377 466 524
Book Value per Share		 $18.00 $18.34 $18.17 $18.25 $15.14 $15.42 $15.51 $15.74 $16.01 $16.24
Tangible Book Value per Share		 $14.51 $14.88 $14.74 $14.84 $11.70 $12.06 $12.24 $12.54 $12.89 $13.19
Total Capital		 410 447 536 682 574 584 588 677 657 665
Total Debt		 53 83 175 319 72 73 73 154 123 124
Total Long-Term Debt		 53 83 175 319 72 73 73 154 123 124
Net Debt		 -110 28 137 273 -37 -300 -42 15 -60 -336
Capital Expenditures (CapEx)		 0.59 0.14 0.62 1.15 1.89 2.30 1.77 1.59 0.61 0.31
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 -0.57 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 53 83 175 319 72 73 73 154 123 124
Total Depreciation and Amortization (D&A)		 2.54 1.93 1.66 1.80 4.20 4.24 4.17 -4.16 11 4.11
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.49 $0.42 $0.32 $0.20 ($0.29) $0.19 $0.25 $0.34 $0.34 $0.39
Adjusted Weighted Average Basic Shares Outstanding		 19.86M 19.90M 19.90M 33.12M 33.15M 33.21M 33.21M 33.32M 33.33M 33.35M
Adjusted Diluted Earnings per Share		 $0.49 $0.42 $0.32 $0.20 ($0.29) $0.19 $0.25 $0.34 $0.34 $0.39
Adjusted Weighted Average Diluted Shares Outstanding		 19.86M 19.90M 19.90M 33.12M 33.15M 33.21M 33.21M 33.32M 33.33M 33.35M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 19.86M 19.90M 19.90M 33.12M 33.15M 33.21M 33.21M 33.32M 33.33M 33.35M
Normalized Net Operating Profit after Tax (NOPAT)		 9.78 9.12 6.96 4.89 0.10 11 8.18 11 11 13
Normalized NOPAT Margin		 29.93% 27.81% 22.45% 17.60% 0.16% 22.26% 17.16% 22.21% 22.13% 25.12%
Pre Tax Income Margin		 40.07% 34.62% 28.69% 19.84% -24.30% 29.56% 22.22% 29.66% 29.61% 34.32%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 4.01 2.13 0.95 0.39 -0.57 0.49 0.35 0.48 0.48 0.56
NOPAT to Interest Expense		 2.96 1.58 0.69 0.28 -0.40 0.35 0.27 0.36 0.36 0.41
EBIT Less CapEx to Interest Expense		 3.83 2.10 0.88 0.31 -0.65 0.41 0.29 0.43 0.46 0.55
NOPAT Less CapEx to Interest Expense		 2.78 1.55 0.62 0.20 -0.48 0.28 0.21 0.31 0.34 0.40
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 37.36% 30.57% 29.78% 33.44% 121.77% 113.40% 110.61% 79.07% 38.92% 36.49%
Augmented Payout Ratio		 37.36% 30.57% 29.78% 33.44% 121.77% 113.40% 110.61% 79.07% 38.92% 36.49%

Key Financial Trends

Shore Bancshares (NASDAQ:SHBI) has demonstrated steady financial growth over the last four years, with notable strength in its interest income and solid profitability metrics. Below are the key takeaways from the latest quarterly results and broader financial trends:

  • Consistent Growth in Net Interest Income: Q4 2024 net interest income was $44.01 million, up from $43.26 million in Q3 2024 and significantly higher than approximately $26.9 million in Q4 2022, reflecting strong core lending performance and improved interest spreads.
  • Increasing Total Revenue: Total revenue for Q4 2024 was $52.86 million, rising sequentially from $50.55 million in Q3 2024 and showing growth compared to prior years, driven by steady non-interest income additions and interest income expansion.
  • Profitability Improvement: Net income attributable to common shareholders reached $13.28 million in Q4 2024, an increase from $11.19 million in Q3 2024 and a significant recovery from negative net income of -$9.7 million in Q3 2023. This reflects improved operating results and effective cost management.
  • Stable Earnings Per Share (EPS): Basic and diluted EPS rose to $0.39 in Q4 2024, compared to $0.34 in Q3 2024 and recovering from losses in 2023, suggesting enhanced returns to shareholders.
  • Strong Operating Cash Flow: Net cash from continuing operating activities was $32.4 million in Q4 2024, a strong indicator of healthy core operations and cash generation capacity.
  • Investing Activities Show Heavy Outflows: Shore Bancshares spent $54.4 million in net cash for investing activities in Q4 2024, primarily driven by purchases of investment securities. This suggests continued investment in the Bank’s security portfolio, which may support income but temporarily reduces cash reserves.
  • Substantial Increase in Deposits: Deposits surged by $302.2 million in Q4 2024, continuing a trend of deposit growth that supports loan funding but may also pressure margins if deposit costs rise.
  • Prudent Provisioning: The provision for credit losses was $0.78 million in Q4 2024, relatively modest, indicating controlled credit risk.
  • Rising Non-Interest Expense: Total non-interest expenses were $33.94 million in Q4 2024, with salaries and employee benefits at $28.2 million—a significant portion of expenses that requires monitoring for efficiency improvements.
  • Maintained Dividend Payout: The company paid cash dividends of $0.12 per share consistently across quarters, signaling a commitment to returning value to shareholders.

Balance Sheet Highlights: As of Q3 2024, Shore Bancshares had total assets of approximately $5.92 billion, up slightly from $5.87 billion in Q2 2024, driven mainly by growth in loans and leases totaling about $4.73 billion. Deposits remain the primary funding source with a healthy mix of interest-bearing and non-interest-bearing accounts totaling over $5.2 billion.

Trend Overview: Since 2022, loans and leases interest income has more than doubled, aligning with the strong loan growth. Total interest expense has risen but at a slower pace than interest income, which expands net interest margins. Provision for credit losses remains manageable, supporting stable earnings despite economic uncertainties. Non-interest income has also improved, particularly from service charges and trust fees.

Overall, Shore Bancshares exhibits strong fundamental growth characteristics with improving profitability metrics and disciplined risk management. Investors should watch for continued expense control and the impact of investing activities on liquidity.

09/04/25 05:13 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Shore Bancshares' Financials

When does Shore Bancshares' financial year end?

According to the most recent income statement we have on file, Shore Bancshares' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Shore Bancshares' net income changed over the last 2 years?

Shore Bancshares' net income appears to be on an upward trend, with a most recent value of $43.89 million in 2024, rising from $31.18 million in 2022. The previous period was $11.23 million in 2023. Check out Shore Bancshares' forecast to explore projected trends and price targets.

How has Shore Bancshares' revenue changed over the last 2 years?

Over the last 2 years, Shore Bancshares' total revenue changed from $124.39 million in 2022 to $201.70 million in 2024, a change of 62.2%.

How much debt does Shore Bancshares have?

Shore Bancshares' total liabilities were at $5.69 billion at the end of 2024, a 3.5% increase from 2023, and a 82.8% increase since 2022.

How much cash does Shore Bancshares have?

In the past 2 years, Shore Bancshares' cash and equivalents has ranged from $37.66 million in 2022 to $63.17 million in 2023, and is currently $44.01 million as of their latest financial filing in 2024.

How has Shore Bancshares' book value per share changed over the last 2 years?

Over the last 2 years, Shore Bancshares' book value per share changed from 18.34 in 2022 to 16.24 in 2024, a change of -11.5%.


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This page (NASDAQ:SHBI) was last updated on 9/4/2025 by MarketBeat.com Staff
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