#United States #Exchange Offer #Easton #Shore Bancshares #SHBI

Shore Bancshares Extends Exchange Offer for Subordinated Notes

In a recent announcement, Shore Bancshares, Inc. (NASDAQ: SHBI), the parent company of Shore United Bank, highlighted an important update regarding its financial instruments. The company has officially extended its exchange offer for its 6.25% Fixed-to-Floating Rate Subordinated Notes, which are set to mature in 2035. This decision comes in light of the company’s ongoing commitment to maintain strong relationships with its investors and stakeholders.

The extension allows investors to exchange up to $60 million in its outstanding subordinated notes, enabling them to swap their old notes for newly registered equivalents under the Securities Act of 1933. These old notes were originally sold in a private offering that took place in November 2025, with a total tender amounting to approximately $58 million—equating to around 97% of the outstanding notes—having been tendered by the initial deadline.

Key Dates and Details of the Exchange Offer

The Exchange Offer, initially set to expire on February 18, 2026, will now be open until 11:59 PM Eastern Time on February 20, 2026, barring any further extensions. This extension allows additional time for investors to consider participating in this significant financial opportunity. Interested parties can review the terms of the exchange offer in a prospectus that has been made available since January 14, 2026.

For those looking to obtain copies of the exchange offer documents or further clarification, the exchange agent, UMB Bank, N.A., is accessible at their corporate trust office located in Houston, Texas, providing assistance via phone and email.

Financial Position of Shore Bancshares

Shore Bancshares is strategically positioned within the financial sector, offering a range of services through its subsidiary, Shore United Bank. The company’s focus encompasses trust and wealth management services, alongside traditional banking operations. The extension of the exchange offer is part of Shore Bancshares' prudent financial management approach to foster investor confidence amid challenging market conditions.

Conclusion

The extension of the exchange offer reflects Shore Bancshares' dedication to optimizing its capital structure while preserving favorable relationships with its existing note holders. As the expiration date approaches, investors are encouraged to assess their options and consider the benefits of participation in this exchange offer. For detailed information regarding the exchange offer or any other questions, stakeholders are invited to reach out directly to the provided contacts.

In summary, Shore Bancshares continues to navigate the financial landscape effectively, making strategic decisions that reflect its commitment to stakeholder interests. Updates such as these are crucial for maintaining transparency and trust within the financial community, and this extension serves as a testament to the company's responsiveness to market needs.