News Column

Shore Bancshares Announces Pricing of Public Offering of Common Stock

June 7, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- Shore Bancshares, Inc. (NASDAQ - SHBI), or the Company, announced that on May 20, 2014 it priced a public offering of 3,600,000 shares of common stock at $8.25 per share for gross proceeds of $29.7 million. The Company expects to close the sale of the shares of common stock on or about May 27, 2014, subject to customary closing conditions. Sandler O'Neill + Partners, L.P. is the sole underwriter for the offering. The underwriter will have a 30-day option to purchase up to an additional 540,000 shares of common stock from the Company at the offering price to cover over-allotments, if any.

The Company intends to use the net proceeds of the offering for general corporate purposes, including but not limited to the contribution of capital to The Talbot Bank of Easton, Maryland, a bank subsidiary of the Company, to satisfy regulatory capital requirements, and to support organic growth, de novo branching, branch acquisitions, loan production offices and opportunistic acquisitions, if any. Lloyd "Scott" Beatty, Jr., President and Chief Executive Officer, stated, "I am extremely pleased with the success of this offering and I welcome our new stockholders. This offering will help ensure that we have the capital strength and flexibility to support our franchise and drive value creation for our stockholders."

This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, which is made only by means of a prospectus supplement and related base prospectus, nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The Company has filed a shelf registration statement (including a prospectus) (File No. 333-195527) and a prospectus supplement with the Securities and Exchange Commission, or the SEC, for the offering to which this communication relates. The sale of shares of common stock in the underwritten offering will be made pursuant to a prospectus supplement to the base prospectus dated May 8, 2014.Before you invest, you should read the prospectus in the registration statement, the prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at or by visiting the Company's website at Alternatively, copies of the prospectus supplement and the prospectus relating to the offering may be obtained by contacting Sandler O'Neill + Partners, L.P., 1251 Avenue of the Americas, 6(th) Floor, New York, New York 10020, or by phone at 1-866-805-4128.

Shore Bancshares, Inc. Information

The Company is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company headquartered on Maryland'sEastern Shore. It is the parent company of two banks, The Talbot Bank of Easton, Maryland, and CNB; three insurance producer firms, The Avon-Dixon Agency, LLC, Elliott Wilson Insurance, LLC and Jack Martin and Associates, Inc; a wholesale insurance company, TSGIA, Inc; and an insurance premium finance company, Mubell Finance, LLC. The Company engages in the trust services business through the trust department at CNB under the name "Wye Financial & Trust". Additional information is available at

Keywords for this news article include: Banking and Finance, Shore Bancshares Inc.

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Source: Investment Weekly News

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