SHORE BANCSHARES Business Summary

Shore Bancshares Inc. (SHBI) operates as the financial holding company for Shore United Bank, N.A., primarily generating revenue through net interest income from a diverse portfolio of commercial and consumer loans and investment securities. Its business model is segmented into traditional retail and commercial banking, trust and wealth management services via its Wye Financial Partners division, and specialized treasury management including merchant processing and remote deposit capture. Following its 2023 merger with The Community Financial Corporation, the company has solidified its position as a leading regional player in the Mid-Atlantic market, specifically across Maryland, Delaware, and Virginia. SHBI competes directly with regional peers such as First Busey Corporation, ConnectOne Bancorp, and OceanFirst Financial; it distinguishes itself through a high-touch, community-focused service model and a robust tangible common equity ratio that supports aggressive organic growth in the Northeast banking sector. The leadership team is spearheaded by President and CEO James M. Burke, who assumed the role in July 2023 following the landmark merger and brings decades of community banking expertise to the firm. Supporting him is Executive Vice President and CFO Charles S. Cullum, a veteran financial officer who joined in April 2025 from Sandy Spring Bancorp, and COO Donna J. Stevens, who has been instrumental in the bank’s operational scaling since 2015. The executive suite also includes CIO Noah Edward Stayton and Chief Banking Officer Brian Scot Ebron, focusing on digital transformation and market expansion respectively. The company is backed by a strong institutional investor base, with approximately 66% of shares held by entities such as BlackRock and Vanguard, while its Board of Directors features notable regional business leaders including David J. Bates and Rebecca Middleton McDonald.