Bailout Bank Bio: Shore Bancshares

Aug 7, 2009 | 3 min read | Print Article

Shore Bancshares, Inc . operates as the holding company for The Centreville National Bank of Maryland; The Talbot Bank of Easton, Maryland; and The Felton Bank, which provide various commercial and consumer banking products and services in Maryland and Delaware. The company offers various deposit products, including checking, savings, money market accounts, regular and IRA certificates of deposit, and Christmas savings accounts. Its lending offers mortgage, home equity, automobile, marine, and installment loans; and credit cards, and other secured and unsecured personal lines of credit to consumers. The company’s loan portfolio also includes commercial mortgages, real estate development loans, and equipment and operating loans, as well as secured and unsecured lines of credit, credit cards, accounts receivable financing arrangements, and merchant card services to small businesses. In addition, it offers merchant credit card clearing services; direct deposit of payroll, Internet banking, and telephone banking services; safe deposit boxes; debit cards; and automatic teller machine (ATMs) services. Further, Shore Bancshares provides nondeposit products, such as mutual funds and annuities, and discount brokerage services; and trust, asset management, and financial planning services. The company also offers insurance products and services, which comprise property and casualty, life, marine, individual health, and long term care insurance, as well as pension and profit sharing plans and retirement plans to businesses and consumers. As of March 31, 2009, it operated 18 full service branches in Kent, Queen Anne’s, Caroline, Talbot, and Dorchester Counties in Maryland, as well as in Kent County, Delaware. The company was founded in 1876 and is based in Easton, Maryland.

The company received $25 million on January 9, 2009 under the Capital Purchase Program and returned the funds in full on April 15, 2009.

Federal Equity Investment	$23 million
Total Revenue	$82 million
Net Income	$11.47 million
Number of Employees	337
Corporate Headquarters	Easton, Maryland
Business Sector	Banking
Officers and Directors	Mr. W. Moorhead Vermilye, President, Director & CEO Other Officers and Directors
Corporate Website	http://www.shbi.net/
Executive Compensation	Shore Bancshares