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PARENT COMPANY FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2018
PARENT COMPANY FINANCIAL INFORMATION [Abstract] |
PARENT COMPANY FINANCIAL INFORMATION | ﻿ NOTE 24. PARENT COMPANY FINANCIAL INFORMATION The following tables provide condensed financial information for Shore Bancshares, Inc. (Parent Company Only). ﻿
﻿ |  |  |  |  |  |
﻿Condensed Balance Sheets
﻿December 31,
﻿ |  |  |  |  |  |
﻿(Dollars in thousands) |  | 2018 |  | 2017
﻿Assets |  |  |  |  |  |
﻿Cash |  | $ | 26,583 |  | $ | 683
﻿Investment securities available for sale, at fair value |  |  | 918 |  |  | 1,127
﻿Investment in subsidiaries |  |  | 157,855 |  |  | 157,880
﻿Premises and equipment, net |  |  | 3,772 |  |  | 3,435
﻿Other assets |  |  | 1,593 |  |  | 2,209
﻿Total assets |  | $ | 190,721 |  | $ | 165,334
﻿ |  |  |  |  |  |
﻿Liabilities |  |  |  |  |  |
﻿Accrued interest payable |  | $ | 1 |  | $ | -
﻿Other liabilities |  |  | 6,494 |  |  | 932
﻿Short-term borrowings |  |  | 1,041 |  |  | 666
﻿Total liabilities |  |  | 7,536 |  |  | 1,598
﻿ |  |  |  |  |  |
﻿Stockholders' equity |  |  |  |  |  |
﻿Common stock |  |  | 127 |  |  | 127
﻿Additional paid in capital |  |  | 65,434 |  |  | 65,256
﻿Retained earnings |  |  | 120,574 |  |  | 99,662
﻿Accumulated other comprehensive loss |  |  | (2,950) |  |  | (1,309)
﻿Total stockholders' equity |  |  | 183,185 |  |  | 163,736
﻿ |  |  |  |  |  |
﻿Total liabilities and stockholders' equity |  | $ | 190,721 |  | $ | 165,334
﻿
﻿ |  |  |  |  |  |
﻿Condensed Statements of Income
﻿For the Years Ended December 31,
﻿ |  |  |  |  |  |
﻿(Dollars in thousands) |  | 2018 |  | 2017
﻿Income |  |  |  |  |  |
﻿Dividends from subsidiaries |  | $ | 4,000 |  | $ | 1,000
﻿Management and other fees from subsidiaries |  |  | 8,160 |  |  | 7,811
﻿Gain on sale of subsidiary |  |  | 12,736 |  |  | -
﻿Other operating income |  |  | 30 |  |  | 94
﻿Total income |  |  | 24,926 |  |  | 8,905
﻿ |  |  |  |  |  |
﻿Expenses |  |  |  |  |  |
﻿Interest expense |  |  | 54 |  |  | 36
﻿Salaries and employee benefits |  |  | 4,580 |  |  | 4,799
﻿Occupancy and equipment expense |  |  | 630 |  |  | 592
﻿Other operating expenses |  |  | 3,421 |  |  | 2,878
﻿Total expenses |  |  | 8,685 |  |  | 8,305
﻿ |  |  |  |  |  |
﻿Income before income tax expense (benefit) and equity in |  |  |  |  |  |
﻿undistributed net income of subsidiaries |  |  | 16,241 |  |  | 600
﻿Income tax expense (benefit) |  |  | 4,298 |  |  | (138)
﻿Income before equity in undistributed net income of subsidiaries |  |  | 11,943 |  |  | 738
﻿ |  |  |  |  |  |
﻿Equity in undistributed net income of subsidiaries |  |  | 13,054 |  |  | 10,524
﻿Net income |  | $ | 24,997 |  | $ | 11,262
﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |
﻿Condensed Statements of Cash Flows
﻿For the Years Ended December 31,
﻿ |  |  |  |  |  |
﻿(Dollars in thousands) |  | 2018 |  | 2017
﻿Cash flows from operating activities: |  |  |  |  |  |
﻿Net income |  | $ | 24,997 |  | $ | 11,262
﻿Adjustments to reconcile net income to cash |  |  |  |  |  |
﻿provided by operating activities: |  |  |  |  |  |
﻿Equity in undistributed net income of subsidiaries |  |  | (13,054) |  |  | (10,524)
﻿Depreciation and amortization |  |  | 469 |  |  | 452
﻿Stock-based compensation expense |  |  | 447 |  |  | 1,055
﻿Gain on sale of subsidiary |  |  | (12,736) |  |  | -
﻿Net decrease in other assets |  |  | 1,001 |  |  | 843
﻿Net increase (decrease) in other liabilities |  |  | 3,267 |  |  | (806)
﻿Net cash provided by operating activities |  |  | 4,391 |  |  | 2,282
﻿ |  |  |  |  |  |
﻿Cash flows from investing activities: |  |  |  |  |  |
﻿Proceeds from maturities and principal payments of |  |  |  |  |  |
﻿investment securities available for sale |  |  | 187 |  |  | 534
﻿Purchases of premises and equipment |  |  | (590) |  |  | (148)
﻿Payments for advances to subsidiary |  |  | - |  |  | (267)
﻿Cash of subsidiary retained upon disposal |  |  | 726 |  |  | -
﻿Proceeds from sale of subsidiary |  |  | 25,159 |  |  | -
﻿Net cash provided by investing activities |  |  | 25,482 |  |  | 119
﻿ |  |  |  |  |  |
﻿Cash flows from financing activities: |  |  |  |  |  |
﻿Increase in short-term borrowings |  |  | 375 |  |  | 666
﻿Repayment of long-term debt |  |  | - |  |  | (843)
﻿Common stock dividends paid |  |  | (4,079) |  |  | (2,790)
﻿Repurchase of shares for tax withholding on exercised options |  |  |  |  |  |
﻿ and vested restricted stock |  |  | (269) |  |  | -
﻿Net cash used in financing activities |  |  | (3,973) |  |  | (2,967)
﻿ |  |  |  |  |  |
﻿Net increase (decrease) in cash and cash equivalents |  |  | 25,900 |  |  | (566)
﻿Cash and cash equivalents at beginning of year |  |  | 683 |  |  | 1,249
﻿Cash and cash equivalents at end of year |  | $ | 26,583 |  | $ | 683
﻿ |  |  |  |  |  |
﻿Supplemental cash flow information: |  |  |  |  |  |
﻿Transfer of available for sale securities to banking subsidiary |  | $ | - |  | $ | 10,233
﻿ ﻿

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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