SHBI on Nasdaq

SHORE BANCSHARES INC

Bank holding company for Shore United Bank1

In its 2026 annual report the company says: “The Company is the largest independent financial holding company headquartered on the Eastern Shore of Maryland. The Company and the Bank are Affirmative Action/Equal Opportunity Employers.”4 Its shares trade on Nasdaq under the symbol SHBI.1

$22.43 up 0.10 (0.47%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 20, 2026.

Overview

Compare with Carter Bankshares, Inc., FIRST UNITED CORP/MD/ or WaFd Bank, or pick any stock.

  • TickerSHBI on Nasdaq1
  • IndustryNational Commercial Banks1
  • HeadquartersEaston, Maryland1
  • Incorporated inMD3
  • Business address18 East Dover Street, Easton, Md 21601-30133
  • Filer categoryAccelerated filer3
  • Legal formCorporation

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Shore Bancshares, Inc. was incorporated under the laws of Maryland on March 15, 1996 and is the bank holding company for Shore United Bank, N.A,. Throughout this report, references to the “Company,” “we,” “our,” and “us,” and similar terms refer to the consolidated entity consisting of Shore Bancshares, Inc. and its subsidiaries. “Shore Bancshares” refers solely to the parent holding company, and the “Bank” refers solely to Shore Bancshares’ subsidiary bank, Shore United Bank, N.A.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

285.4%Net margin5
-0.3%Revenue growth, 20255
10.1%Return on equity5
0.15×Debt to equity5
$59.2MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product and Service, Interchange Income brought in 34% of the revenue SHORE BANCSHARES INC broke down this way in fiscal 2025.

  1. Product and Service, Interchange Income$7.1M534%up 5% from 2024
  2. Deposit Account$6.3M530%up 2% from 2024
  3. Product and Service, Noninterest Income, Other Operating Income$3.8M518%down 19% from 2024
  4. Product and Service, Trust and Investment Management Fee Income$3.7M518%up 10% from 2024
Products and services by year
Products and services202320242025
Product and Service, Interchange Income$5.7M$6.7M$7.1M
Deposit Account$5.5M$6.1M$6.3M
Product and Service, Noninterest Income, Other Operating Income$3.5M$4.7M$3.8M
Product and Service, Trust and Investment Management Fee Income$3.6M$3.4M$3.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Income tax24¢$19.1M
  • Profit76¢$59.5M

Out of $20.9M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending5¢$3.2M
  • Dividends paid26¢$16.1M
  • Kept or used elsewhere69¢$43.1M

Out of $62.4M of cash from operations.5

Financial statements

Revenue67895$20.9M in 2025+120% since 2019
0$10.0M$20.0M$30.0M2019: $9.5M$9.5M20192020: $9.2M$9.2M2020−3%2021: $11.0M$11.0M2021+20%2022: $15.3M$15.3M2022+39%2023: $18.3M$18.3M2023+20%2024: $20.9M$20.9M2024+14%2025: $20.9M$20.9M2025−0%
Net income67895$59.5M in 2025+267% since 2019
0$20.0M$40.0M$60.0M2019: $16.2M$16.2M20192020: $15.7M$15.7M2020−3%2021: $15.4M$15.4M2021−2%2022: $31.2M$31.2M2022+103%2023: $11.2M$11.2M2023−64%2024: $43.9M$43.9M2024+291%2025: $59.5M$59.5M2025+36%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Interest and fees on loans$280.6M$269.6M$194.3M
Interest and dividends on taxable investment securities$20.4M$19.4M$16.8M
Interest and dividends on tax-exempt investment securities$24.0K$24.0K$46.0K
Interest on federal funds sold$0$0$92.0K
Interest on deposits with other banks$9.0M$6.2M$2.8M
Total interest income$310.0M$295.3M$214.1M
Interest on deposits$109.2M$115.3M$68.8M
Interest on short-term borrowings$2.1M$2.1M$5.5M
Interest on long-term borrowings$6.4M$7.4M$4.5M
Total interest expense$117.7M$124.8M$78.8M
NET INTEREST INCOME$192.4M$170.5M$135.3M
Provision for credit losses$8.4M$4.7M$31.0M
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES$184.0M$165.8M$104.4M
Service charges on deposit accounts$6.3M$6.1M$5.5M
Trust and investment fee income$3.7M$3.4M$3.6M
Mortgage banking revenue$6.1M$6.0M$4.5M
Interchange credits$7.1M$6.7M$5.7M
Bank-owned life insurance income$3.9M$2.7M$2.0M
Bargain purchase gain$0$0$8.8M
Other noninterest income$5.6M$6.2M$3.0M
Total noninterest income$32.7M$31.1M$33.2M
Salaries and employee benefits$71.4M$66.6M$57.0M
Occupancy expense$9.9M$9.7M$7.8M
Furniture and equipment expense$3.3M$3.4M$2.6M
Software and data processing$19.9M$17.5M$12.5M
Amortization of other intangible assets$8.6M$9.8M$6.1M
Legal and professional fees$5.1M$5.8M$4.3M
FDIC insurance premium expense$3.8M$4.4M$3.5M
Marketing and advertising$1.3M$1.3M$1.1M
Fraud losses$460.0K$5.0M$879.0K
Merger-related expenses$0$0$17.4M
Other noninterest expense$14.4M$14.7M$10.3M
Total noninterest expense$138.0M$138.3M$123.3M
Income before income taxes$78.7M$58.7M$14.2M
Income tax expense$19.1M$14.8M$3.0M
NET INCOME$59.5M$43.9M$11.2M
Basic net income per common share (in dollars per share)$1.78$1.32$0.42
Diluted net income per common share (in dollars per share)$1.78$1.32$0.42
Dividends paid per common share (in dollars per share)$0.48$0.48$0.48

Compare SHORE BANCSHARES INC with another company

Corporate structure

SHORE BANCSHARES INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SHORE BANCSHARES INC

  • DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G on SHORE BANCSHARES INC, latest Apr 9, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on SHORE BANCSHARES INC, latest Mar 27, 2026 (5 filings since Nov 4, 2024)
  • BlackRock Filed SCHEDULE 13G/A on SHORE BANCSHARES INC, latest Feb 6, 2026
  • Fourthstone LLC Filed SCHEDULE 13G/A on SHORE BANCSHARES INC, latest May 13, 2025 (5 filings since Feb 14, 2022)
  • Alan J. Hyatt Filed SC 13G/A on SHORE BANCSHARES INC, latest Feb 14, 2024 (3 filings since Feb 14, 2022)
  • FJ Capital Management LLC Filed SC 13G/A on SHORE BANCSHARES INC, latest Feb 8, 2024 (3 filings since Feb 11, 2022)
  • SHORE BANCSHARES INC Easton, Maryland

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SHORE BANCSHARES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$103.4M5 Dec 31, 2025$101.8M5 Dec 31, 2024+1.6%
Accumulated depreciation$23.2M5 Dec 31, 2025$20.0M5 Dec 31, 2024+16.1%
Property and equipment, net$80.2M5 Dec 31, 2025$81.8M5 Dec 31, 2024−2.0%
Operating-lease assets (leased space)$10.5M5 Dec 31, 2025$11.4M5 Dec 31, 2024−7.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$355.6M5 Dec 31, 2025$459.9M5 Dec 31, 2024−22.7%
Equity securities at fair value$5.8M12 Dec 31, 2024$5.7M12 Dec 31, 2023+1.9%
Loans, net of allowance$4.8B5 Dec 31, 2025$4.7B5 Dec 31, 2024+2.7%
Deposits held (banks)$5.5B5 Dec 31, 2025$5.5B5 Dec 31, 2024+0.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$63.3M5 Dec 31, 2025$63.3M5 Dec 31, 20240%
Finite-lived intangibles, net$29.7M5 Dec 31, 2025$38.3M5 Dec 31, 2024−22.4%

Properties, in its own words

We own or lease buildings across Maryland, Delaware and Virginia that are used in the normal course of our business. The corporate headquarters for the Company and Bank is located at 18 East Dover Street in Easton, Maryland, and is owned by the Company. As of December 31, 2025, 27 of the 40 full-service branches the Bank operates were owned by the Company. For information about our leased premises and properties, see Note 5 – “Leases” and Note 6 – “Premises and Equipment” in the “Notes to Consolidated Financial Statements” included in Part II, Item 8 of this Annual Report on Form 10-K.

Item 2 of the 10-K filed Mar 2, 2026.4

Leadership

Who has led SHORE BANCSHARES INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. William W. Duncan2006–2011
  2. Lloyd L. Beatty Jr.2014–2018
  3. Edward Conley Allen Jr.2015–2016
  4. Richard C. Trippe2017
  5. James M. Burke2023–2025
  6. Todd L. Capitani2025–now

President

  1. W. Moorhead Vermilye2006–2011
  2. William W. Duncan2006–2011
  3. Lloyd L. Beatty Jr.2011–2018
  4. Edward Conley Allen Jr.2015–2016
  5. Richard C. Trippe2017
  6. James M. Burke2023–now

Chief financial officer

  1. Edward Conley Allen Jr.2017–2018
  2. Vance W. Adkins2023
  3. Todd L. Capitani2023–2025
  4. Charles S. Cullum2025–now

Chief operating officer

  1. Daniel T. Cannon2006
  2. Lloyd L. Beatty Jr.2011–2013
  3. Donna J. Stevens2015–now
2010201520202025
Board members and other officers (60)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerB. Scot Ebron named Nov 24, 202583
  • DirectorAustin J. Slater, Jr. named Nov 24, 202583
  • DirectorDavid S. Jones named Nov 24, 202583
  • DirectorE. Lawrence Sanders, III named Nov 24, 202583

Timeline

  1. Oct 1, 20268-K Executive or director change84
  2. Aug 25, 20268-K Bylaws or fiscal year changed85
  3. Jul 24, 20268-K Regulation FD disclosure86
  4. Jul 23, 20268-K Results of operations87
  5. Jul 23, 20268-K Listing notice or transfer88
  6. Jun 16, 20268-K Executive or director change89
  7. May 22, 20268-K Code of ethics changed90
  8. May 20, 20268-K Shareholder vote91
  9. May 4, 20268-K Regulation FD disclosure92
  10. Apr 23, 20268-K Results of operations93
  11. Feb 2, 20268-K Regulation FD disclosure94
  12. Jan 28, 20268-K Results of operations95
  13. Jul 2, 2025New chief executive Todd L. Capitani becomes CEO14
  14. Jul 3, 2023New chief executive James M. Burke becomes CEO15
  15. Feb 8, 2017New chief executive Richard C. Trippe becomes CEO16
  16. Mar 17, 2015New chief executive Edward Conley Allen Jr. becomes CEO17
  17. May 29, 2014New chief executive Lloyd L. Beatty Jr. becomes CEO18
  18. Oct 4, 2006New chief executive William W. Duncan becomes CEO19

Calendar

Coming up

  1. Oct 22, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.48 a share, on Oct 23, 2025.96

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results87
  2. Apr 23, 2026Reported quarterly or annual results93
  3. Jan 28, 2026Reported quarterly or annual results95
  4. Oct 23, 2025Reported quarterly or annual results97
  5. Jul 24, 2025Reported quarterly or annual results98
  6. Apr 29, 2025Reported quarterly or annual results99
  7. Jan 30, 2025Reported quarterly or annual results100
  8. Oct 24, 2024Reported quarterly or annual results101

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

481 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 75 major events, 328 insider forms, 21 large holders, 1 private raises, 35 other. The latest 20:

  1. Oct 1, 20268-K EDGAR
  2. Aug 25, 20264 EDGAR
  3. Aug 25, 20264 EDGAR
  4. Aug 25, 20268-K EDGAR
  5. Aug 5, 20264 EDGAR
  6. Aug 3, 202610-Q EDGAR
  7. Jul 31, 20264 EDGAR
  8. Jul 31, 20264 EDGAR
  9. Jul 31, 20264 EDGAR
  10. Jul 31, 20264 EDGAR
  11. Jul 31, 20264 EDGAR
  12. Jul 31, 20264 EDGAR
  13. Jul 31, 20264 EDGAR
  14. Jul 31, 20264 EDGAR
  15. Jul 31, 20264 EDGAR
  16. Jul 31, 20264 EDGAR
  17. Jul 24, 20268-K EDGAR
  18. Jul 23, 20268-K EDGAR
  19. Jul 23, 20268-K EDGAR
  20. Jun 16, 20268-K EDGAR

The 481 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

52 open-market trades by officers, directors and large owners since October 2021: 51 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 3, 2026LAMON JOHNDirectorBuy300$24.57$7.4KForm 4
May 26, 2026Adams Michael BrianDirectorBuy175$20.29$3.6KForm 4
Mar 2, 2026SLATER A JOSEPH JRDirectorSale1,802$18.78$33.8KForm 4
Feb 5, 2026Esham William E. IIIDirectorBuy5,000$19.99$100.0KForm 4
Nov 26, 2025Willey Dawn M.DirectorBuy1,000$17.67$17.7KForm 4
Nov 18, 2025Kaslow Aaron MichaelEVP, Chief Legal OfficerBuy6,500$15.56$101.1KForm 4
Nov 7, 2025LAMON JOHNDirectorBuy200$15.92$3.2KForm 4
Aug 13, 2025WAYSON KONRADDirectorBuy1,000$16.02$16.0KForm 4
Aug 1, 2025Adams Michael BrianDirectorBuy10,000$15.00$150.0KForm 4
May 30, 2025LAMON JOHNDirectorBuy250$14.55$3.6KForm 4
May 30, 2025Willey Dawn M.DirectorBuy1,000$14.58$14.6KForm 4
May 30, 2025Streete Esther A.DirectorBuy30$14.58$437Form 4
May 2, 2025Adams Michael BrianDirectorBuy560$14.15$7.9KForm 4
May 2, 2025WAYSON KONRADDirectorBuy5,000$14.25$71.2KForm 4
Feb 20, 2025STEVENS DONNA J.EVP, Chief Operating OfficerBuy315$15.85$5.0KForm 4
Feb 4, 2025Adams Michael BrianDirectorBuy965$15.92$15.4KForm 4
Nov 25, 2024WAYSON KONRADDirectorBuy3,000$16.94$50.8KForm 4
Jun 4, 2024LAMON JOHNDirectorBuy605$10.88$6.6KForm 4
May 9, 2024KELLY CLYDE V. IIIDirectorBuy5,000$11.19$56.0KForm 4
Mar 4, 2024LAMON JOHNDirectorBuy578$11.27$6.5KForm 4

All 52 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025James M. BurkePresident and Chief Executive Officer57$700.0K$1.8M108
2025Charles S. CullumEVP, Chief Financial Officer$302.7K$1.1M108
2025Donna J. StevensEVP, Chief Operations Officer$380.0K$830.7K108
2025B. Scot EbronEVP, Chief Banking Officer$430.0K$804.0K108
2025Christy LombardiEVP, Chief Human Resources Officer$370.0K$718.5K108
2025Todd L. CapitaniFormer Chief Financial Officer$250.2K$569.0K108
2024James M. BurkePresident and Chief Executive Officer57$635.6K$1.2M108
2024Todd L. CapitaniFormer Chief Financial Officer$375.0K$741.4K108
2024Donna J. StevensEVP, Chief Operations Officer$370.0K$666.1K108
2023James M. BurkePresident and Chief Executive Officer57$247.2K$799.0K108
2023Donna J. StevensEVP, Chief Operations Officer$345.0K$643.5K108

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Nov 13, 2025Raised $60 million in a private offering of debt Form D: 34 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,215,010$73.8M0.0%+191,443
Dimensional Fund Advisors LP1,774,718$40.7M0.0%+91,315
Vanguard Capital Management LLC1,345,267$30.9M0.0%−31,267
American Century Companies Inc1,095,951$25.2M0.0%+135,343
State Street Corp1,029,202$23.6M0.0%+104,039
Manufacturers Life Insurance Company, The885,021$20.3M0.0%−5,063
Geode Capital Management, LLC816,475$18.7M0.0%+47,534
Wellington Management Group Llp768,354$17.6M0.0%−245,321
Jupiter Topco LLC745,516$17.1M0.0%New
Ameriprise Financial Inc523,562$12.0M0.0%+79,403
Atlantic Union Bankshares Corp486,930$11.2M0.2%No change
Nuveen, LLC483,359$11.1M0.0%+138,548
Goldman Sachs Group Inc481,073$11.0M0.0%−68,764
Aqr Capital Management LLC476,221$10.9M0.0%+40,914
Hotchkis & Wiley Capital Management LLC337,669$7.7M0.0%+34,370
Arrowstreet Capital, Limited Partnership336,589$7.7M0.0%−75,622
Northern Trust Corp316,028$7.3M0.0%+13,140
Vanguard Portfolio Management LLC299,794$6.9M0.0%+51,020
Basswood Capital Management, L.l.c.299,231$6.9M0.3%New
Renaissance Technologies LLC279,515$6.4M0.0%−68,100
Bridgeway Capital Management, LLC278,686$6.4M0.1%+13,203
Morgan Stanley269,655$6.2M0.0%−10,743
Millennium Management LLC218,636$5.0M0.0%−10,462
Bank of New York Mellon Corp218,612$5.0M0.0%+35,791
Algert Global LLC213,022$4.9M0.1%+201,421

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How SHORE BANCSHARES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSHORE BANCSHARES INC1
  • CIK0001035092
  • Employer ID (EIN)52-19746384
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inMaryland4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6021 National Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address18 East Dover Street, Easton, MD 21601-30131
  • Phone41082214001
  • Shares outstanding33,372,276 as of Jul 30, 202611
  • Public float$480.1M as of Jun 30, 20254
  • AuditorCrowe LLP, Livingston, New Jersey PCAOB ID 173; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceApr 3, 19971
  • Filings1,468 in all: 4 (689), 8-K (310), 10-Q (88), 3 (70), SC 13G/A (46), 4/A (41), 10-K (29), DEF 14A (29)1
    All 39 form types

    SC 13G (16), DEFA14A (15), CORRESP (14), UPLOAD (14), 425 (12), EFFECT (10), S-8 (9), ARS (8), 10-Q/A (7), 8-K/A (6), S-3 (6), S-4 (6), SCHEDULE 13G/A (5), 10-K/A (4), S-3/A (4), 3/A (3), 5 (3), PRE 14A (3), S-4/A (3), S-8 POS (3), 424B3 (2), 424B5 (2), D (2), SCHEDULE 13G (2), 10-12G (1), 10-12G/A (1), 424B2 (1), POS AM (1), REGDEX (1), RW (1), S-3D (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 3, 2026
    Proxy statement (DEF 14A) Apr 8, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.01 par value per shareSHBIThe NASDAQ Global Select Market

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks SHORE BANCSHARES INC names in Item 1A of its 10-K filed Mar 2, 2026: 53 risks under these headings, as written.4

  • Risks Related to the Economy, Financial Markets, Interest Rates and Liquidity
  • The geographic concentration of our operations makes us susceptible to downturns in local economic conditions.
  • Changes in interest rates may adversely affect our earnings and financial condition.
  • Inflation can have an adverse impact on our business and on our customers.
  • Insufficient liquidity could impair our ability to fund operations and jeopardize our financial condition, growth and prospects.
  • Our business may be adversely affected by unfavorable economic, market, and political conditions.
  • Our investment securities portfolio is subject to credit risk, market risk, and liquidity risk.
  • Credit Risks
  • Our allowance for credit losses may not be adequate to cover our actual credit losses; additions to the allowance for credit losses could adversely affect our financial condition and results of operations.
  • We may not be able to adequately measure and limit our credit risk, which could lead to unexpected losses.
  • Our commercial real estate lending activities expose us to increased lending risks and related loan losses.
  • Imposition of limits by the bank regulators on commercial real estate lending activities could curtail our growth and adversely affect our earnings.
The other 43 risks
  • Our concentration of residential mortgage loans exposes us to increased lending risks.
  • An increase in nonperforming assets would adversely impact earnings.
  • Appraisals may not accurately describe the value of our collateral.
  • Strategic and Other Risks
  • Our future success will depend on our ability to compete effectively in the highly competitive financial services industry.
  • The loss of key personnel could disrupt our business.
  • Acquisitions could disrupt our business.
  • Operational Risks
  • Our funding sources may prove insufficient to replace deposits and support our future growth.
  • Income from mortgage-banking operations is volatile and we may incur losses with respect to our mortgage-banking operations that could negatively affect our earnings.
  • Any delays in our ability to foreclose on delinquent mortgage loans may increase our costs and expose us to greater losses.
  • The strict enforcement of federal laws regarding cannabis could result in our inability to continue to provide banking services to marijuana-related businesses and expose us to legal action by the federal government.
  • Our risk management framework may not be effective in mitigating risks and/or losses to us.
  • Risks Related to our Financial Statements
  • We may incur impairment charges on our investment securities, which could adversely impact our results of operations, liquidity, financial condition, or growth prospects.
  • Impairment goodwill, other intangible assets, or deferred tax assets could require charges to earnings, which would adversely impact on our results of operations.
  • Changes in accounting standards or interpretation of new or existing standards may affect how we report our financial condition and results of operations.
  • The Current Expected Credit Loss (“CECL”) accounting standard could require us to increase our allowance for credit losses and may have a material adverse effect on our financial condition and results of operations.
  • Our accounting estimates and risk management processes rely on analytical and forecasting models.
  • We have previously identified material weaknesses in our internal controls.
  • We depend on the accuracy and completeness of information about customers and counterparties and our financial condition could be adversely affected if we rely on inaccurate information.
  • Operational risks, including system failures, human error, and third-party dependencies could adversely affect our business.
  • Risks Related to Cybersecurity and Technology
  • Our information systems may experience an interruption or breach in security.
  • Security breaches and other disruptions could compromise our information and expose us to liability, which would cause our business and reputation to suffer.
  • Failure to comply with privacy and information security laws could expose us to liability.
  • Our reliance on third party vendors could expose us to additional cyber risk and liability.
  • We outsource certain aspects of our data processing to certain third-party providers, which may expose us to additional risk.
  • We are dependent on our information technology and telecommunications systems and third-party servicers, and systems failures, interruptions or breaches of security could have an adverse effect on our financial condition and results of operations.
  • We are at risk of increased losses from fraud.
  • Failure to keep up with technological change in the financial services industry could have a material adverse effect on our competitive position or profitability.
  • Risks Relating to the Regulation of our Industry
  • We operate in a highly regulated environment, which could restrain our growth and profitability.
  • Federal regulators periodically examine our business, and we may be required to remediate adverse examination findings.
  • Our FDIC deposit insurance assessments may increase.
  • We are subject to numerous laws designed to protect consumers, including the CRA and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
  • We face a risk of noncompliance and enforcement action with the BSA and other anti-money laundering statues and regulations.
  • Risks Relating to Our Securities
  • Our common stock is not insured by any governmental entity.
  • Our ability to pay dividends is limited by law and contract.
  • Our subordinated debt instruments contain restrictions on our ability to declare and pay dividends on or repurchase our common stock.
  • Future sales of our common stock or other securities may dilute the value and adversely affect the market price of our common stock.
  • Provisions in our governing documents and Maryland law may have an anti-takeover effect, and there are substantial regulatory limitations on changes of control of bank holding companies.
  • We may issue debt and equity securities that are senior to the common stock as to distributions and in liquidation, which could negatively affect the value of the common stock.
  • The market price for our stock may be volatile.
  • General Risk Factors
  • Severe weather, earthquakes, other natural disasters, pandemics, acts of war or terrorism and other external and geopolitical events could significantly impact the business.
  • Climate change could have a material adverse impact on us and our clients.
  • Negative public opinion regarding us or failure to maintain our reputation in the communities we serve could adversely affect our business and prevent us from growing our business.
  • Changes in tax laws and regulations and differences in interpretation of tax laws and regulations may negatively impact our financial performance.

Legal proceedings

In the normal course of business, the Company may become involved in litigation arising from its business activities. Management, after consultation with legal counsel, does not anticipate that the ultimate liability, if any, arising from pending legal proceedings will have a material adverse effect on our financial condition or results of operations.

The opening of Item 3, Legal Proceedings.4

Sources

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