EASTON,
Md., Feb. 2, 2024 /PRNewswire/ -- Shore
Bancshares, Inc. (NASDAQ - SHBI) announced that the Board of
Directors has declared a quarterly common stock dividend in the
amount of $0.12 per share, payable
February 29, 2024 to stockholders of
record on February 12, 2024.
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.
Forward-Looking Statements
The statements contained herein that are not historical facts
are forward-looking statements (as defined by the Private
Securities Litigation Reform Act of 1995) based on management's
current expectations and beliefs concerning future developments and
their potential effects on the Company. Such statements involve
inherent risks and uncertainties, many of which are difficult to
predict and are generally beyond the control of the Company. There
can be no assurance that future developments affecting the Company
will be the same as those anticipated by management. These
statements are evidenced by terms such as "anticipate," "estimate,"
"should," "expect," "believe," "intend," and similar expressions.
Although these statements reflect management's good faith beliefs
and projections, they are not guarantees of future performance and
they may not prove true. These projections involve risk and
uncertainties that could cause actual results to differ materially
from those addressed in the forward-looking statements. While there
is no assurance that any list of risks and uncertainties or risk
factors is complete, below are certain factors which could cause
actual results to differ materially from those contained or implied
in the forward-looking statements: the expected cost savings,
synergies and other financial benefits from the acquisition of TCFC
or any other acquisition the Company has made or may make might not
be realized within the expected time frames or at all; the effect
of acquisitions we have made or may make, including, without
limitation, the failure to achieve the expected revenue growth
and/or expense savings from such acquisitions, and/or the failure
to effectively integrate an acquisition target into our operations;
recent adverse developments in the banking industry highlighted by
high-profile bank failures and the potential impact of such
developments on customer confidence, liquidity, and regulatory
responses to these developments; changes in general economic,
political, or industry conditions; geopolitical concerns, including
the ongoing wars in Ukraine and
the Middle East; uncertainty in
U.S. fiscal and monetary policy, including the interest rate
policies of the Board of Governors of the Federal Reserve System;
inflation/deflation, interest rate, market, and monetary
fluctuations; volatility and disruptions in global capital and
credit markets; any failures to adequately manage the transition
from USD LIBOR as a reference rate; competitive pressures on
product pricing and services; success, impact, and timing of our
business strategies, including market acceptance of any new
products or services; the impact of changes in financial services
policies, laws, and regulations, including those concerning taxes,
banking, securities, and insurance, and the application thereof by
regulatory bodies; potential changes in federal policy and at
regulatory agencies as a result of the upcoming 2024 presidential
election; a deterioration of the credit rating for U.S. long-term
sovereign debt, actions that the U.S. government may take to avoid
exceeding the debt ceiling, and uncertainties surrounding debt
ceiling and the federal budget; the impact of recent or future
changes in FDIC insurance assessment rate or the rules and
regulations related to the calculation of the FDIC insurance
assessment amount, including any special assessments; cybersecurity
threats and the cost of defending against them, including the costs
of compliance with potential legislation to combat cybersecurity at
a state, national, or global level; our ability to remediate the
material weakness identified in our internal control over financial
reporting; the effectiveness of the Company's internal control over
financial reporting and disclosure controls and procedures; climate
change, including any enhanced regulatory, compliance, credit and
reputational risks and costs; and other factors that may affect our
future results. For a discussion of these risks and uncertainties,
see the section of the periodic reports filed by Shore Bancshares,
Inc. with the Securities and Exchange Commission entitled "Risk
Factors."
The Company specifically disclaims any obligation to update any
factors or to publicly announce the result of revisions to any of
the forward-looking statements included herein to reflect future
events or developments.
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SOURCE Shore Bancshares, Inc.