Shore Bancshares Announces Pricing of Public Offering of Common Stock PR Newswire EASTON, Md., May 21, 2014 EASTON, Md., May 21, 2014 /PRNewswire/ -- Shore Bancshares, Inc. (NASDAQ - SHBI), or the Company, announced today that on May 20, 2014 it priced a public offering of 3,600,000 shares of common stock at $8.25 per share for gross proceeds of $29.7 million. The Company expects to close the sale of the shares of common stock on or about May 27, 2014, subject to customary closing conditions. Sandler O'Neill + Partners, L.P. is the sole underwriter for the offering. The underwriter will have a 30-day option to purchase up to an additional 540,000 shares of common stock from the Company at the offering price to cover over-allotments, if any. The Company intends to use the net proceeds of the offering for general corporate purposes, including but not limited to the contribution of capital to The Talbot Bank of Easton, Maryland, a bank subsidiary of the Company, to satisfy regulatory capital requirements, and to support organic growth, de novo branching, branch acquisitions, loan production offices and opportunistic acquisitions, if any. Lloyd "Scott" Beatty, Jr., President and Chief Executive Officer, stated, "I am extremely pleased with the success of this offering and I welcome our new stockholders. This offering will help ensure that we have the capital strength and flexibility to support our franchise and drive value creation for our stockholders." This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, which is made only by means of a prospectus supplement and related base prospectus, nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The Company has filed a shelf registration statement (including a prospectus) (File No. 333-195527) and a prospectus supplement with the Securities and Exchange Commission, or the SEC, for the offering to which this communication relates. The sale of shares of common stock in the underwritten offering will be made pursuant to a prospectus supplement to the base prospectus dated May 8, 2014. Before you invest, you should read the prospectus in the registration statement, the prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov or by visiting the Company's website at www.shorebancshares.com. Alternatively, copies of the prospectus supplement and the prospectus relating to the offering may be obtained by contacting Sandler O'Neill + Partners, L.P., 1251 Avenue of the Americas, 6^th Floor, New York, New York 10020, or by phone at 1-866-805-4128. Shore Bancshares, Inc. Information The Company is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company headquartered on Maryland's Eastern Shore. It is the parent company of two banks, The Talbot Bank of Easton, Maryland, and CNB; three insurance producer firms, The Avon-Dixon Agency, LLC, Elliott Wilson Insurance, LLC and Jack Martin and Associates, Inc; a wholesale insurance company, TSGIA, Inc; and an insurance premium finance company, Mubell Finance, LLC. The Company engages in the trust services business through the trust department at CNB under the name "Wye Financial & Trust". Additional information is available at www.shorebancshares.com. Forward-Looking Statements The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) and are based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as "anticipate," "estimate," "should," "expect," "believe," "intend," and similar expressions. Although these statements reflect management's good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Shore Bancshares, Inc. with the SEC entitled "Risk Factors". The Company specifically disclaims any obligation to update any factors or to publicly announce the result of revisions to any of the forward-looking statements included herein to reflect future events or developments. SOURCE Shore Bancshares, Inc. Website: http://www.shorebancshares.com Contact: George Rapp, Chief Financial Officer, 410-763-7800
Shore Bancshares Announces Pricing of Public Offering of Common Stock
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