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Shore Bancshares enjoyed ‘stellar’ 2017, CEO says

shore-bancsharesEaston-based Shore Bancshares Inc. CEO Lloyd L. “Scott” Beatty Jr. said the company had a “stellar” year in 2017 in terms of growth and core earnings, according to financial numbers released Friday.

Beatty said the company enjoyed a robust year in terms of growth and core earnings and anticipates a positive economic outlook for 2018 which will bode well for growth and expansion.

Shore Bancshares experienced organic loan growth of 13 percent, excluding the branch acquisition in the second quarter, along with net income for the year that would have exceeded $12 million if not for the one-time tax expense because of changes brought about by tax reform. The company expanded its footprint across the Bay Bridge and to the Eastern Shore of Virginia.

 


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