Shore Bancshares: Q3 Earnings Snapshot

EASTON, Md. (AP) — EASTON, Md. (AP) — Shore Bancshares Inc. (SHBI) on Thursday reported third-quarter net income of $16.8 million.

The Easton, Maryland-based bank said it had earnings of 50 cents per share. Earnings, adjusted for amortization costs, were 54 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The bank holding company posted revenue of $87.7 million in the period. Its revenue net of interest expense was $62.8 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $61.6 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHBI at https://www.zacks.com/ap/SHBI