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Shore Bancshares, Inc. Announces Extension of Exchange Offer for its 6.25% Fixed-to-Floating Rate Subordinated Notes Due 2035
Shore Bancshares, Inc. (the "Company") (NASDAQ: SHBI), the holding company for Shore United Bank, N.A. (the "Bank"), today announced that it had extended its offer (the "Exchange Offer") to exchange up to $60.0 million aggregate principal amount of its outstanding 6.25% Fixed-to-Floating Rate Subordinated Notes due 2035 (the "Old Notes") for an equivalent amount of its 6.25% Fixed-to-Floating Rate Subordinated Notes due 2035 registered under the Securities Act of 1933, as amended (the "Exchange
About this update from Shore Bancshares, Inc.
[{"type":"text","content":"EASTON, Md., Feb. 19, 2026 /PRNewswire/ -- Shore Bancshares, Inc. (the "Company") (NASDAQ: SHBI), the holding company for Shore United Bank, N.A. (the "Bank"), today announced that it had extended its offer (the "Exchange Offer") to exchange up to $60.0 million aggregate principal amount of its outstanding 6.25% Fixed-to-Floating Rate Subordinated Notes due 2035 (the "Old Notes") for an equivalent amount of its 6.25% Fixed-to-Floating Rate Subordinated Notes due 2035 registered under the Securities Act of 1933, as amended (the "Exchange Notes"). $60.0 million aggregate principal amount of Old Notes were issued and sold by the Company in November 2025 in a private offering.","length":761,"tagName":"p"},{"type":"image","alt":"Shore Bancshares Logo (PRNewsfoto/Shore Bancshares, Inc.)","displaySize":"","headline":null,"caption":"Shore Bancshares Logo (PRNewsfoto/Shore Bancshares, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":144,"url":"https://media.zenfs.com/en/prnewswire.com/a2235f9c7b0c08c6788dd0c2d0dd594b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/8dnScLr2lINOie56Di4nPg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI1NDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/a2235f9c7b0c08c6788dd0c2d0dd594b","width":400,"height":144}},"href":"https://mma.prnewswire.com/media/803952/Shore_Bancshares_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Exchange Offer, previously scheduled to expire at 11:59 p.m., Eastern Time, on February 18, 2026, will now expire at 11:59 p.m., Eastern Time, on February 20, 2026, unless further extended. $58.0 million in aggregate principal amount, or approximately 97%, of the outstanding Old Notes were tendered in the Exchange Offer as of 11:59 p.m., Eastern Time, on February 18, 2026.","length":429,"tagName":"p"},{"type":"text","content":"The terms of the exchange offer are set forth in a prospectus dated January 14, 2026. Copies of the prospectus and the other exchange offer documents may be obtained from the exchange agent:","length":195,"tagName":"p"},{"type":"text","content":"UMB Bank, N.A.Attn: Corporate Trust Officer/James Henry5555 San Felipe, Suite 870Houston, Texas 77056Telephone: (512)...