Shore Bancshares, Inc. Announce New Board Member

Rhea-AI Summary

Shore Bancshares, Inc. (NASDAQ: SHBI) announced the appointment of William E. Esham III as a director of the Company and Shore United Bank, effective June 23, 2020. This addition increases the board's total to 10 directors. Esham, an independent director with no material relationship with the Company, brings significant financial services experience, particularly in the Worcester County market. He is a partner at Ayres, Jenkins, Gordy & Almand, P.A., specializing in real estate law. Esham previously served on bank boards from 2012 to 2016.

Positive

• Appointment of William E. Esham III adds experienced financial services expertise to the board.
• Esham's knowledge of the Worcester County market is expected to enhance strategic decision-making.

Negative

• None.

EASTON, Md., June 29, 2020 /PRNewswire/ -- Shore Bancshares, Inc. (the "Company") (NASDAQ: SHBI) today announced the appointment of William E. Esham III as a director of both the Company and Shore United Bank, the Company's wholly-owned bank subsidiary, effective June 23, 2020.

Mr. Esham is an independent director pursuant to applicable NASDAQ rules and has no material relationship with the Company. This director appointment brings the total number of directors to 10 for both the Company and Shore United Bank.

"We are very pleased to add Will to our Board of Directors," said Lloyd L. "Scott" Beatty, Jr., President and Chief Executive Officer. "He brings significant financial services experience to our board with particular expertise in our Worcester County market."

William E. Esham III

Mr. Esham (age 54) is a partner in the law firm of Ayres, Jenkins, Gordy & Almand, P.A., specializing in real estate law, located in Ocean City, Maryland. Mr. Esham has prior bank board experience having served on Shore Bank's Board of Directors 2012-2016 (which was acquired by Xenith Bank in 2016) and Peninsula Bank's Advisory Board 1996-2006. Mr. Esham also serves on the Board of Trustees for Worcester Preparatory School and the Board of Directors for Atlantic General Hospital.

Mr. Esham holds a BA from Washington and Lee University and JD from University of Baltimore.

Shore Bancshares Information

Shore Bancshares is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company located on Maryland's Eastern Shore. It is the parent company of Shore United Bank. Shore Bancshares engages in trust and wealth management services through Wye Financial Partners, a division of Shore United Bank.

Additional information is available at www.shorebancshares.com.

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SOURCE Shore Bancshares, Inc.

FAQ

What is the significance of William E. Esham III's appointment to Shore Bancshares and Shore United Bank?

William E. Esham III's appointment brings additional financial services expertise and knowledge of the Worcester County market, enhancing the board's effectiveness.

When was William E. Esham III appointed as a director of Shore Bancshares?

William E. Esham III was appointed as a director on June 23, 2020.

How many directors are on the board of Shore Bancshares after this appointment?

After the appointment of William E. Esham III, the total number of directors on the board is 10.

What is William E. Esham III's professional background?

William E. Esham III is a partner at Ayres, Jenkins, Gordy & Almand, P.A., specializing in real estate law, with prior experience on bank boards.