Shore Bancshares posts record Q1 profit, but nonperforming assets triple on CRE stress

Filed May 4, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read

Key Changes

• high

  Net income rose 24% YoY to record $17.1M ($0.51/share) on 40bp margin expansion to 3.64%, driven by lower funding costs and accelerated loan payoff accretion.

  MD&A: Net Income & NIM verify on EDGAR →
• high

  Nonperforming assets surged to 1.10% of total assets from 0.31% prior year; two large CRE relationships ($45.6M, primarily NC/VA multifamily and office) account for most of the increase. Management says loans are well-collateralized.

  MD&A: Asset Quality verify on EDGAR →
• high

  Special mention loans nearly tripled to $97.8M from $33.5M, with six loans >$5M each ($79.1M total) in multifamily and commercial real estate. Management expects no material losses but is actively monitoring.

  MD&A: Special Mention Loans verify on EDGAR →