Click here for our latest press release Shore Bancshares, Inc. (“Shore”) is a financial holding company, which was formed on March 15, 1996. Headquartered in Easton, Maryland, it is the sole shareholder of The Talbot Bank of Easton, Maryland ("Talbot Bank"), The Centreville National Bank of Maryland (“Centreville National Bank”) and the Felton Bank, collectively referred to as the “Banks”. The Felton Bank was acquired on April 1, 2004 and is the newest member of the Shore Bancshares family of Companies. In 2002 Shore began operation of its insurance subsidiaries, The Avon Dixon Agency, LLC and Elliott Wilson Insurance, LLC, collectively referred to as the “Insurance Agencies”. During 2002 Wye Financial Services, LLC (“Wye Financial”), a registered investment advisory firm was formed.
About our Bank Affiliates:
Talbot Bank commenced operations in 1885 and is a Maryland chartered commercial bank. The Centreville National Bank commenced operations in 1876 and is a national banking association. The Felton Bank was chartered in 1908 as "The First National Bank of Felton", and in 1917 surrendered its national charter in exchange for a charter under the laws of the State of Delaware. The Banks operate fifteen full service branches and nineteen Automated Teller Machines (“ATM’s”), providing a full range of commercial and consumer banking products and services to individuals, businesses, and other organizations in Kent, Queen Anne’s, Caroline, Talbot and Dorchester Counties in Maryland and Kent County, Delaware. Deposits are insured by the Federal Deposit Insurance Corporation (“FDIC”).
Consumer Banking Services:
The Banks offer a wide variety of services to individuals within the communities they serve. Consumer banking services include no-fee access to any account at any affiliate Bank’s ATM and the ability to make loan payments, deposits and withdrawals at any affiliate branch office using Shore Banclink. Telephone Banking is available to allow access to account information and funds transfer 24 hours per day, 7 days a week. A toll free number is available for this service, allowing free access to an account from anywhere. Internet banking services, including bill payer service, is also available at Talbot Bank and Centreville National Bank. Using the internet banking solution, account activity can be reviewed, funds transferred, and bills paid online.
Deposit products available to customers include a variety of checking accounts, savings and money market accounts, individual retirement accounts and certificates of deposit. The Banks also offer mortgage loans, home equity loans, installment loans, debit and credit cards, personal lines of credit, to meet a variety of consumer financing needs. Safe deposit services are available at most locations. Wye Mortgage Group, a division of Centreville National Bank, offers a variety of long-term fixed rate residential mortgage products to our customers.
Commercial Banking Services:
The Banks are dedicated to serving the needs of the local communities in which we operate. Our knowledge of the local business community enables us to meet the individual needs of each commercial customer, by providing credit for working capital, facilities financing and equipment purchases. Deposit products offered to businesses include commercial checking, savings and related depository services, including telephone and internet banking. Commercial loan products include lines of credit, term loans, accounts receivable financing, commercial and construction real estate loans, and other forms of secured financing. The Business Manager program can alleviate the burden of receivables billing and collection, improving customer cash flow. Commercial credit card programs are available to suit the customers’ individual needs.
Investment and Wealth Management Services:
Asset management services, comprehensive financial and retirement planning and estate planning are offered through Wye Financial Services, LLC. Our goal is to provide true value by understanding customer goals and developing a plan that will help them achieve those goals with the minimum amount of risk. Each affiliate bank also offers a variety of non-deposit investment products, including fixed and variable annuities and mutual funds, to its customers. Investment advisors are available to design a plan to assist customers in achieving their financial goals for retirement, saving for education, or to implement a tax deferral strategy.
Insurance Products and Services:
A full range of insurance products and services are available to customers through our insurance affiliates, who operate from four full service offices located in Talbot and Queen Anne’s Counties. Elliott Wilson Insurance and The Avon Dixon Agency are independent insurance agencies with over 150 years of experience serving the needs of their neighbors in the Chesapeake Bay area. Having access to over 20 insurance companies, we are able to provide quality, economical solutions for our customer’s insurance needs. There are over 40 licensed agents who can provide assistance with individual and business insurance needs including: property and casualty insurance, life, marine, individual health and long term care insurance. A full range of employee benefit plans are available to businesses, including group life, health, disability and long-term care. Pension and profit sharing plans and retirement plans for executives and employees can be developed to suit the individual needs of the business.
The Company had 5,527,145 shares of common stock, par value $0.01 per share ("shares") outstanding as of April 30, 2005. The Company's and Talbot Bank's main office is located in Talbot County, Maryland, at 18 East Dover Street, Easton, Maryland 21601. Centreville National Bank's main office is located at 109 North Commerce Street, Centreville, Maryland 21617. Felton Bank's main office is located at 120 W. Main Street, Felton, Delaware 19943. As of March 31,2005 the Company had assets of approximately $812 million, net loans of approximately $592 million, and deposits of approximately $679 million. Stockholders' equity at March 31, 2005 was approximately $95 million.
