| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 5.39 | 16.2% |
| Total Income | 5.39 | 16.2% |
| Expenditure | -17.27 | 26.8% |
| PBT | 22.66 | 24.1% |
| Net Profit | 17.09 | 24.2% |
| OPM | — | |
| NPM | 100.00% | 0.00pp |
| EPS | 0.51 | 24.4% |
Shore Bancshares Reports Q1 2026 Net Income of $17.1 Million
24 Apr 2026 · 24 Apr, 1:30 am
Summary
Shore Bancshares, Inc. reported a record net income of $17.1 million for the first quarter of 2026. The company's net interest margin increased to 3.64%, and book value per share rose to $18.02. Total assets were $6.21 billion at March 31, 2026, a slight decrease of 0.8% compared to December 31, 2025. According to James (“Jimmy”) M. Burke, President and CEO, lower funding costs and disciplined balance sheet management drove record net interest income and profitability during the quarter.
Key Highlights
- 1
Shore Bancshares reported a record net income of $17.1 million for the first quarter of 2026, or $0.51 per diluted common share.
- 2
The company's return on average assets was 1.12% for the first quarter of 2026, compared to 0.91% for the first quarter of 2025.
- 3
Net interest margin increased by 21 basis points to 3.64% during the first quarter of 2026 compared to the fourth quarter of 2025.
- 4
Book value per share increased to $18.02 at March 31, 2026, from $16.55 at March 31, 2025.
- 5
Nonperforming assets were 1.10% of total assets at March 31, 2026, an increase from 0.31% at March 31, 2025.
- 6
The efficiency ratio for the first quarter of 2026 was 61.97%, compared to 63.64% for the first quarter of 2025.
- 7
Net interest income for the first quarter of 2026 increased $6.7 million compared to the first quarter of 2025, reaching $52.6 million.
Management Comments
James (“Jimmy”) M. Burke
Shore Bancshares delivered another strong quarter to begin 2026, with higher net income, expanding net interest margin and continued growth in book value per share. Lower funding costs, accelerated loan repricing and disciplined balance sheet management drove record net interest income and record profitability during the quarter. We also continued to make progress improving our core operating performance while maintaining prudent expense control.
James (“Jimmy”) M. Burke
Although nonperforming and classified assets increased during the quarter, overall asset quality remains sound and is supported by strong collateral values, conservative underwriting and solid reserve levels. We remain focused on managing risk, strengthening operating leverage and building long-term value for our shareholders as we move through 2026.”
Informational and educational content only. Not investment advice.