Shore bancshares inc (SHBI)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
INTEREST INCOME
Interest and fees on loans

55,391

51,332

43,617

37,155

35,126

35,140

39,058

42,698

47,549

51,962

55,209

Interest and dividends on investment securities:
Taxable

3,582

4,289

4,009

3,195

3,602

2,957

2,072

2,815

3,031

3,209

3,184

Tax-exempt

-

-

3

7

10

12

17

104

154

212

301

Interest on federal funds sold

-

-

-

6

3

1

4

10

25

60

84

Interest on deposits with other banks

794

286

334

289

130

179

200

274

93

18

11

Total interest income

59,767

55,907

47,963

40,652

38,871

38,289

41,351

45,901

50,852

55,461

58,789

INTEREST EXPENSE
Interest on deposits

8,726

3,531

2,242

2,389

3,331

4,229

6,448

10,501

10,995

12,681

17,018

Interest on short-term borrowings

481

1,636

31

14

15

18

27

45

56

83

127

Interest on long-term borrowings

429

105

-

-

-

-

-

16

37

58

266

Total interest expense

9,636

5,272

2,273

2,403

3,346

4,247

6,475

10,562

11,088

12,822

17,411

NET INTEREST INCOME

50,131

50,635

45,690

38,249

35,525

34,042

34,876

35,339

39,764

42,639

41,378

Provision for credit losses

700

1,674

2,291

1,848

2,075

3,350

27,784

27,745

19,470

21,119

8,986

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES

49,431

48,961

43,399

36,401

33,450

30,692

7,092

7,594

20,294

21,520

32,392

NONINTEREST INCOME
Service charges on deposit accounts

3,910

3,879

-

-

-

-

-

-

-

-

-

Trust and investment fee income

1,522

1,557

-

-

-

-

-

-

-

-

-

Other noninterest income

4,588

3,577

-

-

-

-

-

-

-

-

-

Service charges on deposit accounts

-

-

3,628

3,465

2,867

2,407

2,371

2,551

2,845

3,257

3,424

Trust and investment fee income

-

-

1,532

1,442

1,627

1,860

1,613

1,644

1,563

1,503

1,100

Gains on sales of investment securities

-

-

5

30

-

23

913

278

563

0

49

Gain on sale of credit card portfolio

-

-

-

198

-

-

-

-

-

-

-

Insurance agency commissions

-

-

-

8,551

8,274

9,525

10,647

9,814

9,358

10,113

11,131

Loss on termination of cash flow hedge

-

-

-

-

-

-

1,306

1,339

0

0

-

Other noninterest income

-

-

3,035

2,959

2,648

2,966

3,221

2,810

2,989

3,168

3,837

Total noninterest income

10,020

9,013

8,200

16,645

15,416

16,781

17,459

15,758

17,318

18,041

19,541

NONINTEREST EXPENSE
Salaries and wages

15,413

16,535

15,080

17,626

17,540

17,600

17,346

17,418

16,825

17,477

18,488

Employee benefits

5,283

4,001

3,551

3,993

3,905

4,092

4,094

3,994

3,840

3,829

4,631

Occupancy expense

2,758

2,622

2,335

2,452

2,420

2,339

2,344

2,559

2,312

2,328

2,324

Furniture and equipment expense

1,107

950

906

963

926

975

1,020

963

1,059

1,200

1,183

Data processing

3,790

3,331

3,561

3,496

3,260

3,006

2,900

2,717

2,852

2,607

2,463

Directors’ fees

479

556

380

511

470

474

354

474

500

412

478

Goodwill and other intangible assets impairment

-

-

-

-

-

-

-

-

1,344

3,051

0

Amortization of other intangible assets

605

866

231

131

133

201

296

392

512

515

515

Insurance agency commissions expense

-

-

-

-

-

906

1,798

1,391

1,267

1,569

1,913

FDIC insurance premium expense

344

771

599

696

1,214

1,636

1,813

1,380

1,298

1,834

2,078

Other real estate owned expenses, net

425

353

-

-

-

-

-

-

-

-

-

Write-downs of other real estate owned

-

-

272

505

291

658

1,318

1,328

-

-

-

Legal and professional fees

2,223

1,981

2,254

1,875

2,380

2,048

1,539

-

-

-

-

Write-downs of other real estate owned

-

-

-

-

-

-

-

-

-1,051

-657

-

Other noninterest expenses

5,130

4,865

4,471

4,899

4,811

5,426

5,864

6,939

6,307

6,241

6,175

Total noninterest expense

37,557

36,831

33,640

37,147

37,350

39,361

40,686

39,555

39,167

41,720

40,248

Income from continuing operations before income taxes

21,894

21,143

17,959

15,899

11,516

8,112

-16,135

-16,203

-1,555

-2,159

11,685

Income tax expense

5,610

5,380

8,734

6,261

4,408

3,061

-6,501

-6,565

-658

-492

4,412

Income from continuing operations

16,284

15,763

9,225

-

-

-

-

-

-

-

-

Loss from discontinued operations before income taxes

-113

1,421

-

-

-

-

-

-

-

-

-

Income from discontinued operations before income taxes

-

-

1,826

-

-

-

-

-

-

-

-

Gain on sale of insurance agency

-

12,736

-

-

-

-

-

-

-

-

-

Income tax benefit

-27

4,923

-211

-

-

-

-

-

-

-

-

Loss from discontinued operations

-86

9,234

2,037

-

-

-

-

-

-

-

-

NET INCOME

16,198

24,997

11,262

9,638

7,108

5,051

-9,634

-9,638

-897

-1,667

7,273

Earnings per common share - Basic
Income from continuing operations

1.28

1.24

0.73

-

-

-

-

-

-

-

-

(Loss) income from discontinued operations

-0.01

0.72

0.16

-

-

-

-

-

-

-

-

Preferred stock dividends and discount accretion

-

-

-

-

-

-

-

-

-

-

1,876

Net (loss) income available to common shareholders

-

-

-

-

-

-

-

-

-

-

5,397

Net income

1.27

1.96

0.89

0.76

0.56

0.46

-1.14

-1.14

-0.11

-0.20

0.64

Earnings per common share - Diluted
Income from continuing operations

1.28

1.24

0.73

-

-

-

-

-

-

-

-

(Loss) income from discontinued operations

-0.01

0.72

0.16

-

-

-

-

-

-

-

-

Net income

1.27

1.96

0.89

0.76

0.56

0.46

-1.14

-1.14

-0.11

-0.20

0.64

Dividends paid per common share (in dollars per share)

0.42

0.32

0.22

0.14

0.04

-

0.00

0.01

0.09

0.24

0.64