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Shore Bancshares Inc's Business Segments
Shore Bancshares Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
3
Largest Segment
Product and Service, Interchange Income
Total Revenue
$ 61
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Product and Service, Interchange Income6%
- Deposit Account5.3%
- Interchange income3.7%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Product and Service, Interchange Income | $ 4 | 6% |
| Deposit Account | $ 3 | 5.3% |
| Interchange income | $ 2 | 3.7% |
Annual Results
Revenue Share by Reportable Segment - FY
- Product and Service, Interchange Income6%
- Deposit Account5.3%
- Interchange income3.7%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Product and Service, Interchange Income | $ 4 | 6% |
| Deposit Account | $ 3 | 5.3% |
| Interchange income | $ 2 | 3.7% |
Description of Shore Bancshares Inc
The Company was incorporated under the laws of Maryland on March 15, 1996 and
is a financial holding company registered under the Bank Holding Company Act of
1956, as amended (the “BHC Act”). The Company is the largest independent
financial holding company located on the Eastern Shore of Maryland. The Company’s
primary business is acting as the parent company to several financial institution
and insurance entities. The Company engages in the banking business through CNB,
a Maryland commercial bank with trust powers and The Talbot Bank of Easton, Maryland,
a Maryland commercial bank (“Talbot Bank”). As used in this annual
report, the term “Banks” refers to CNB and Talbot Bank and Felton
Bank for periods prior to January 1, 2011 and to CNB and Talbot Bank for all other
periods.
Shore Bancshares Inc. operates through its banks, primarily the CNB (Chesapeake Bank of Maryland) and Talbot Bank, providing a comprehensive range of banking products and services that cater specifically to individuals, businesses, and organizations within Maryland and Delaware. Here’s an extensive description of the segments, products, and services offered:
Banking Products and Services
1. Commercial Banking Services:
- Deposit Products:
- Commercial Checking Accounts: Tailored for business operations, these accounts facilitate daily transactions.
- Savings Accounts and Certificates of Deposit (CD): Offering various interest rates and terms, these provide businesses with safe investment options and a way to earn interest on their funds.
- Overnight Investment Sweep Accounts: Allow businesses to automatically manage excess cash for better returns.
- Lending Products:
- Commercial Loans: Both secured and unsecured, these lend businesses capital for various purposes, such as expansion or operational expenses.
- Working Capital Loans: Designed to cover short-term operational costs, aiding businesses in smooth functioning.
- Lines of Credit: Offering flexibility in funding, allowing businesses to draw funds as needed.
- Term Loans: Fixed or variable interest loans for specific financing needs over a predetermined period.
- Accounts Receivable Financing: Provides immediate cash flow by leveraging outstanding invoices.
- Real Estate Loans: Including acquisition, development, construction loans, and loans for commercial properties (retail, service industry, etc.).
- Letters of Credit: Enhancing business operations by providing guarantees to suppliers.
- Merchant Services:
- Credit Card Processing: Solutions for businesses to accept credit card payments conveniently.
- Payroll Services: Direct deposit solutions to improve payroll efficiency.
- Online Banking Solutions: Comprehensive digital solutions for managing accounts, transactions, and finances from anywhere.
2. Consumer Banking Services:
- Deposit Accounts:
- Personal Checking Accounts: Offering features like debit cards and online banking.
- Savings Accounts: Various options to help customers save and earn interest.
- Money Market Accounts: Combining features of savings and checking, these accounts offer higher interest rates with limited transaction capabilities.
- Lending Products:
- Mortgage Loans: Options for purchasing homes with fixed and variable rates, including adjustable-rate mortgages.
- Home Improvement Loans: Financing for renovations and upgrades.
- Personal Loans: Unsecured loans for various personal expenses.
- Credit Cards: Various options that offer rewards, low interest, and special features.
- Home Equity Loans and Lines of Credit: Leverage home equity for personal financing needs.
- Auto Loans: Financing options for purchasing vehicles.
- Support Services:
- Safe Deposit Boxes: Secure storage for important documents and valuables.
- Telephone and Mobile Banking: 24/7 access to accounts and transactions.
3. Trust Services:
- Operated under the trade name Wye Financial & Trust, these include:
- Asset Management Services: Customized investment strategies to grow and manage client assets.
- Estate Planning: Assistance with wills, trusts, and distribution of estates according to clients’ wishes.
- Financial Planning Services: Comprehensive planning to meet long-term financial goals.
Insurance Products and Services
1. Personal Insurance:
- Auto Insurance: Coverage for personal vehicles including standard and specialized vehicles like ATVs and boats.
- Home Insurance: Protecting homeowners against damages and liabilities.
- Health and Dental Insurance: Coverage options for medical expenses and dental care.
- Life Insurance: Providing financial security to beneficiaries upon the policyholders passing.
- Flood Insurance: Protection against flood-related damages.
- Long-Term Care Insurance: Coverage for extended medical care needs.
- Travel Insurance: Coverage for trip-related incidents.
- Umbrella Insurance: Extra liability coverage beyond standard policies.
2. Business Insurance:
- General Liability Insurance: Protection against claims of bodily injury and property damage.
- Workers Compensation: Coverage for employee injuries sustained on the job.
- Cyber Liability Insurance: Protecting businesses from cyber threats and data breaches.
- Commercial Auto Insurance: Coverage for vehicles used for business purposes.
- Marine and Boat Builders Insurance: Specific coverage tailored to marine contractors.
3. Benefits Insurance:
- Employee Insurance Packages: Including group health and life insurance.
- Annuities and Supplemental Plans: Providing retirement and additional health benefits solutions.
4. Specialized Commercial Insurance:
- Trucking Insurance: Coverage for transportation businesses, including liability and cargo insurance.
- Surety Bonds: Assurance for contracts requiring performance guarantees.
5. Marine Insurance:
- Yachts and Charter Coverage: Comprehensive insurance solutions for marine vessels.
Conclusion
Shore Bancshares Inc. offers a vast array of banking and insurance products designed to meet various customer needs across personal, commercial, and trust services. With a focus on community banking, the organization caters to the unique financial requirements of its clients while maintaining an emphasis on personalized service and customer convenience. Through these diverse offerings, Shore Bancshares Inc. aims to support its customers’ financial well-being and growth, fostering long-term relationships within the Maryland and Delaware markets.
Banking Products and Services
1. Commercial Banking Services:
- Deposit Products:
- Commercial Checking Accounts: Tailored for business operations, these accounts facilitate daily transactions.
- Savings Accounts and Certificates of Deposit (CD): Offering various interest rates and terms, these provide businesses with safe investment options and a way to earn interest on their funds.
- Overnight Investment Sweep Accounts: Allow businesses to automatically manage excess cash for better returns.
- Lending Products:
- Commercial Loans: Both secured and unsecured, these lend businesses capital for various purposes, such as expansion or operational expenses.
- Working Capital Loans: Designed to cover short-term operational costs, aiding businesses in smooth functioning.
- Lines of Credit: Offering flexibility in funding, allowing businesses to draw funds as needed.
- Term Loans: Fixed or variable interest loans for specific financing needs over a predetermined period.
- Accounts Receivable Financing: Provides immediate cash flow by leveraging outstanding invoices.
- Real Estate Loans: Including acquisition, development, construction loans, and loans for commercial properties (retail, service industry, etc.).
- Letters of Credit: Enhancing business operations by providing guarantees to suppliers.
- Merchant Services:
- Credit Card Processing: Solutions for businesses to accept credit card payments conveniently.
- Payroll Services: Direct deposit solutions to improve payroll efficiency.
- Online Banking Solutions: Comprehensive digital solutions for managing accounts, transactions, and finances from anywhere.
2. Consumer Banking Services:
- Deposit Accounts:
- Personal Checking Accounts: Offering features like debit cards and online banking.
- Savings Accounts: Various options to help customers save and earn interest.
- Money Market Accounts: Combining features of savings and checking, these accounts offer higher interest rates with limited transaction capabilities.
- Lending Products:
- Mortgage Loans: Options for purchasing homes with fixed and variable rates, including adjustable-rate mortgages.
- Home Improvement Loans: Financing for renovations and upgrades.
- Personal Loans: Unsecured loans for various personal expenses.
- Credit Cards: Various options that offer rewards, low interest, and special features.
- Home Equity Loans and Lines of Credit: Leverage home equity for personal financing needs.
- Auto Loans: Financing options for purchasing vehicles.
- Support Services:
- Safe Deposit Boxes: Secure storage for important documents and valuables.
- Telephone and Mobile Banking: 24/7 access to accounts and transactions.
3. Trust Services:
- Operated under the trade name Wye Financial & Trust, these include:
- Asset Management Services: Customized investment strategies to grow and manage client assets.
- Estate Planning: Assistance with wills, trusts, and distribution of estates according to clients’ wishes.
- Financial Planning Services: Comprehensive planning to meet long-term financial goals.
Insurance Products and Services
1. Personal Insurance:
- Auto Insurance: Coverage for personal vehicles including standard and specialized vehicles like ATVs and boats.
- Home Insurance: Protecting homeowners against damages and liabilities.
- Health and Dental Insurance: Coverage options for medical expenses and dental care.
- Life Insurance: Providing financial security to beneficiaries upon the policyholders passing.
- Flood Insurance: Protection against flood-related damages.
- Long-Term Care Insurance: Coverage for extended medical care needs.
- Travel Insurance: Coverage for trip-related incidents.
- Umbrella Insurance: Extra liability coverage beyond standard policies.
2. Business Insurance:
- General Liability Insurance: Protection against claims of bodily injury and property damage.
- Workers Compensation: Coverage for employee injuries sustained on the job.
- Cyber Liability Insurance: Protecting businesses from cyber threats and data breaches.
- Commercial Auto Insurance: Coverage for vehicles used for business purposes.
- Marine and Boat Builders Insurance: Specific coverage tailored to marine contractors.
3. Benefits Insurance:
- Employee Insurance Packages: Including group health and life insurance.
- Annuities and Supplemental Plans: Providing retirement and additional health benefits solutions.
4. Specialized Commercial Insurance:
- Trucking Insurance: Coverage for transportation businesses, including liability and cargo insurance.
- Surety Bonds: Assurance for contracts requiring performance guarantees.
5. Marine Insurance:
- Yachts and Charter Coverage: Comprehensive insurance solutions for marine vessels.
Conclusion
Shore Bancshares Inc. offers a vast array of banking and insurance products designed to meet various customer needs across personal, commercial, and trust services. With a focus on community banking, the organization caters to the unique financial requirements of its clients while maintaining an emphasis on personalized service and customer convenience. Through these diverse offerings, Shore Bancshares Inc. aims to support its customers’ financial well-being and growth, fostering long-term relationships within the Maryland and Delaware markets.