UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 13, 2021
SHORE BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
| Maryland | 000-22345 | 52-1974638 |
| (State or other jurisdiction of | (Commission file number) | (IRS Employer |
| incorporation or organization) | Identification No.) |
18 E. Dover St., Easton, MD 21601
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (410) 763-7800
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
| Common Stock | SHBI | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 Other Events
On April 13, 2021, Shore Bancshares, Inc. announced today that its banking subsidiary, Shore United Bank, received approval from the Federal Reserve Bank of Richmond and the State of Maryland to open a new full-service bank branch in South Ocean City, Maryland. The opening of this branch is not expected to occur until 2022.
A copy of the press release issued by Shore Bancshares, Inc. on April 13, 2021 is attached to this Current Report on Form 8-K as Exhibit 99.1
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The exhibits that are filed or furnished with this report are listed in the Exhibit Index that immediately follows the signatures hereto, which list is incorporated herein by reference.
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SHORE BANCSHARES, INC. | ||
| Dated: April 13, 2021 | By: | /s/ Lloyd L. Beatty, Jr. |
|
Lloyd L. Beatty, Jr.
President and Chief Executive Officer |
||
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EXHIBIT INDEX
Exhibit
| Number | Description |
| 99.1 | Press Release, dated April 13, 2021 (filed herewith) |
| 4 |
Exhibit 99.1
Shore United Bank Announces New Branch in South Ocean City, Maryland
Easton, Maryland (4/13/2021) - Shore Bancshares, Inc. (NASDAQ - SHBI) announced today that its banking subsidiary, Shore United Bank, will open a new office on 34st South Ocean City, Maryland.
The new South Ocean City branch is set to open a full-service banking office on Ocean Gateway, Ocean City, Maryland sometime in 2022.
“South Ocean City or the ‘Island’ is an ideal location for Shore United Bank,” said Lloyd L. “Scott” Beatty, Jr., President and Chief Executive Officer. “We have been working with businesses and customers on the island of Ocean City for a very long time and have grown many relationships in the past few years thanks to the efforts of our West Ocean City branch and LPO team. Recently, we participated and provided PPP (“Payroll Protection Program”) lending to many businesses within Ocean City that were greatly impacted by the pandemic. We strive to meet the needs of our customers by delivering unmatched customer service. The growth in this market has warranted expansion for some time and the new location couldn’t be better as it provides more accessibility to many of our business customers. We are thrilled to support our lending team and valued customers in Ocean City with another full-service branch.”
Shore Bancshares Information
Shore Bancshares is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company located on Maryland's Eastern Shore. It is the parent company of Shore United Bank. Shore Bancshares engages in trust and wealth management services through Wye Financial Partners, a division of Shore United Bank.
Additional information is available at www.shorebancshares.com.
For further information contact: Edward Allen, Executive Vice President and Chief Financial Officer, 410-763-7800