Shore Bancshares, Inc. · NASDAQ:SHBI
Shore Bancshares — Q1 2026 Earnings Presentation
30 slides from Shore Bancshares's earnings presentation, May 4, 2026
Slide 1: Investor Presentation March 31, 2026
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 March 31, 2026 Investor Presentation
Slide 2: Forward-Looking Statements
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations o
Slide 3: About Our Company
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 About Our Company HEADQUARTERS: 3 Shore Bancshares, Inc. is the largest independent financial holding company headquartered on the Eastern Shore of Maryland. It is the parent company of Shore United Bank, N.A. The Bank offers pe
Slide 4: Strong Eastern and Southern Maryland Franchise and Growing Presence in Virginia and Delaware
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Strong Eastern and Southern Maryland Franchise and Growing Presence in Virginia and Delaware Branch locations (40 branches) Commercial Lending Centers (4 locations) Mortgage Loan Offices (3 locations) Pennsylvania West Virginia
Slide 5: Investment Opportunity
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Investment Opportunity Q1 2026 ▪ EPS and ROATCE of $0.51 per diluted share and 14.83%, respectively ▪ ROAA of 1.12% and 1.22% (non-GAAP) Q4 2025 ▪ EPS and ROATCE of $0.48 per diluted share and 14.10%, respectively ▪ ROAA of 1.02
Slide 6: 2026 Management Focus
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 2026 Management Focus 6 1 Ensuring strong capital position and risk management practices 2 Investing in the business and driving automation 3 Driving core deposit growth and ensuring ample liquidity 4 Rigorously managing credit
Slide 7: First Quarter 2026 Results
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 First Quarter 2026 Results (1) All figures shown on an end of period basis with comparisons to the fourth quarter of 2025 unless otherwise noted. 7 Q1 2026 record net income of $17.1 million, or $0.51 per diluted share Q1 2026 H
Slide 8: Profitability Trends
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Profitability Trends (1) Core earnings per share, adjusted return on average assets and return on average tangible common equity are non-GAAP financial measures – see Non-GAAP reconciliations in Appendix. 1.02% 1.15% 1.05% 1.11%
Slide 9: Quarterly Loan Trends and Loan Composition
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Commercial real estate 53.6% Residential real estate 29.4% Construction 7.1% Commercial 4.6% Consumer (incl. credit cards) 5.3% Quarterly Loan Trends $4.85B Concentrations as a percentage of total capital as of March 31, 2026: ▪
Slide 10: Fixed Rate Loans by Maturity
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 ▪ Fixed-interest rate loans scheduled to mature after Q1 2028 are $1.55 billion or 32% of total loans ▪ The weighted average interest rate for loans scheduled to mature after Q1 2028 was 5.56%. Fixed Rate Loans by Maturity as of
Slide 11: Commercial Real Estate Portfolio Details
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Commercial Real Estate Portfolio Details as of March 31, 2026 Total CRE Portfolio $2.60B Total average CRE loan size(1) $1.06 million % with guaranty (by $ / by #) 84% / 91% Past due 30-89 days $2.90 million / 0.11% of total CRE
Slide 12: Commercial Real Estate Portfolio Details: Composition and Geography
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Commercial Real Estate Portfolio Details as of March 31, 2026 Multifamily 10.0% Industrial 10.7% Office 18.5% Retail 21.1% Other 32.4% Hotel/Motel 7.3% MD 53.5% VA 23.0% DE 8.6% Other 14.9% CRE Portfolio Composition(1) Amount ($
Slide 13: Quarterly Deposit Trends
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Quarterly Deposit Trends 13 $5,460 $5,314 $5,528 $5,534 $5,462 $1,565 $1,575 $1,594 $1,588 $1,567 $852 $763 $852 $853 $813 $1,801 $1,691 $1,790 $1,815 $1,796 $1,242 $1,284 $1,292 $1,278 $1,286 Noninterest-bearing deposits Intere
Slide 14: Investment Portfolio
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Investment Portfolio 14 ▪ Allocation: AFS 40%, HTM 59% and equity securities 1% ▪ Effective duration of 3.60 years ▪ Reinvesting 2026 maturing cash flows in stable average life MBS and floating rate bonds ▪ The portfolio exhibit
Slide 15: Net Interest Income and Net Interest Margin
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 $45,898 $47,163 $48,418 $50,202 $52,555 3.21% 3.34% 3.41% 3.43% 3.64% 2.99% 3.09% 3.22% 3.24% 3.35% 3.28% 3.43% 3.57% 3.63% Net Interest Income NIM NIM Excluding Accretion Regional Peer Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 NI
Slide 16: Loan Portfolio Details
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Loan Portfolio Details Commercial real estate Residential real estate Construction Commercial Consumer Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 5.00% 5.50% 6.00% 6.50% 7.00% 7.50% 8.00% 16 Selected Yields (%) 5.32% 5.42% 5.41% 5.
Slide 17: Noninterest Income
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Noninterest Income 17 Noninterest Income Composition Quarterly Noninterest Income ▪ Higher mortgage banking activity ▪ Well-diversified sources of fee income ▪ One-time increase related to insurance proceeds in Q4 2025 Service c
Slide 18: Noninterest Expense
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Noninterest Expense 18 Noninterest Expense Trends ($ in thousands) Quarterly Noninterest Expense Details Higher salaries and employee benefits driven by higher employee taxes at the beginning of the year and one time benefit exp
Slide 19: Credit Quality Statistics
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Credit Quality Statistics ($ in thousands) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Nonperforming Assets Nonaccrual loans $ 15,402 $ 16,782 $ 24,378 $ 39,960 $ 64,958 90+ days delinquent accruing 894 215 153 255 — Other real esta
Slide 20: Current Expected Credit Losses – Loans
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Current Expected Credit Losses – Loans 20 ACL / Total Loans ($ in thousands) ACL by Loan Type Provision for loan losses decreased due to favorable economic outlook, partially offset by higher charge-offs ▪ ACL of $58.5 million o
Slide 21: Quarterly Capital Ratios
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Quarterly Capital Ratios 8.27% 8.65% 8.86% 8.82% 9.12% 9.75% 9.90% 10.21% 10.52% 10.97% 10.37% 10.51% 10.82% 11.15% 11.60% 12.52% 12.65% 12.88% 13.61% 14.08% Tier 1 Leverage Ratio Common Equity Tier 1 Tier 1 Risk-Based Capital R
Slide 22: 2026 Management Outlook
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 2026 Management Outlook 22 Key Economic and Operating Assumptions ▪ The Federal Reserve Bank holds fed funds at 3.50%-3.75% for the remainder of 2026 ▪ Loan pipeline expanding entering Q2 ($200MM) with modest loan growth for the
Slide 23: Appendix
Appendix Shore Baneshares|)
Slide 24: Financial Highlights
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Financial Highlights Balance Sheet ($ in thousands, except per share data) For the Quarter Ended March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Total Assets $ 6,206,063 $ 6,258,818 $ 6,278,479 $
Slide 25: Non-GAAP Reconciliation
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Non-GAAP Reconciliation ‘‘Tangible book value per share’’ is defined as tangible stockholders’ equity less preferred equity and intangible assets divided by total common shares outstanding. We believe that this measure is import
Slide 26: Non-GAAP Reconciliation
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Non-GAAP Reconciliation ‘‘Efficiency ratio” is defined as recurring noninterest expense less foreclosed real estate ("OREO") expenses and valuation allowances, less merger and acquisition costs, less amortization of intangible a
Slide 27: Non-GAAP Reconciliation
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Non-GAAP Reconciliation We believe net interest margin excluding accretion, which reflects our net interest margin excluding accretion interest on acquired loans and prepayment penalties of long-term debt, allows investors to be
Slide 28: Non-GAAP Reconciliation
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Non-GAAP Reconciliation ($ in thousands) For the Quarter Ended March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Net Income $ 17,088 $ 15,887 $ 14,348 $ 15,507 $ 13,764 Add: Amortization of Intangi
Slide 29: Non-GAAP Reconciliation
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 Non-GAAP Reconciliation ‘‘Tangible common equity (or “TCE”) is defined as stockholders’ equity less preferred equity and intangible assets. “Tangible assets" (or “TA”) are defined as total assets less intangible assets. We belie
Slide 30: #593160
#006881 #ACC0C6 #83AFB4 #FEBE10 #5F574F #4D4F53 #C75B12 #5B8F22 #593160 NASDAQ: SHBI © 2026 Shore Bancshares, Inc.