XML 60 R39.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Investment Securities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Activity in the ACL on held-to maturity securities | The following table summarizes the activity in the ACL on HTM securities.
(Dollars in thousands) |  | Three Months Ended December 31, 2023 |  | Twelve Months Ended December 31, 2023
Balance, beginning of period |  | $ | 126 |  |  | $ | — |
Other debt securities, provision for credit losses |  | (32) |  |  | 94 |
Balance, end of period |  | $ | 94 |  |  | $ | 94 |
Schedule of Available-for-Sale Securities Reconciliation | The following table provides information on the amortized cost and estimated fair values of investment securities at December 31, 2023 and December 31, 2022.
(Dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Available-for-sale securities: |  |  |  |  |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 23,472 |  |  | $ | 5 |  |  | $ | 3,002 |  |  | $ | 20,475 |
Mortgage-backed securities |  | 91,280 |  |  | 5 |  |  | 7,258 |  |  | 84,027 |
Other debt securities |  | 6,080 |  |  | 59 |  |  | 120 |  |  | 6,019 |
Total |  | $ | 120,832 |  |  | $ | 69 |  |  | $ | 10,380 |  |  | $ | 110,521 |
December 31, 2022 |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 21,798 |  |  | $ | 5 |  |  | $ | 3,625 |  |  | $ | 18,178 |
Mortgage-backed securities |  | 72,183 |  |  | 2 |  |  | 8,666 |  |  | 63,519 |
Other debt securities |  | 2,018 |  |  | — |  |  | 128 |  |  | 1,890 |
Total |  | $ | 95,999 |  |  | $ | 7 |  |  | $ | 12,419 |  |  | $ | 83,587 |
Schedule of Held-to-Maturity | The Company sold virtually all of the AFS securities portfolio acquired from TCFC immediately after the legal merger with the proceeds of $434.2 million, and recognized gross losses of $2.2 million from the sale of securities.
(Dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Held-to-maturity securities: |  |  |  |  |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 143,442 |  |  | $ | — |  |  | $ | 10,377 |  |  | $ | 133,065 |
Mortgage-backed securities |  | 357,870 |  |  | — |  |  | 43,864 |  |  | 314,006 |
Obligations of states and political subdivisions |  | 1,470 |  |  | 57 |  |  | 19 |  |  | 1,508 |
Other debt securities |  | 10,500 |  |  | — |  |  | 1,249 |  |  | 9,251 |
Total |  | $ | 513,282 |  |  | $ | 57 |  |  | $ | 55,509 |  |  | $ | 457,830 |
December 31, 2022 |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 148,097 |  |  | $ | — |  |  | $ | 13,601 |  |  | $ | 134,496 |
Mortgage-backed securities |  | 398,884 |  |  | — |  |  | 50,464 |  |  | 348,420 |
Obligations of states and political subdivisions |  | 1,474 |  |  | 35 |  |  | 28 |  |  | 1,481 |
Other debt securities |  | 11,000 |  |  | — |  |  | 770 |  |  | 10,230 |
Total |  | $ | 559,455 |  |  | $ | 35 |  |  | $ | 64,863 |  |  | $ | 494,627 |
Debt Securities, Held-to-Maturity, Credit Quality Indicator | The following table shows the amortized cost of HTM securities based on their lowest publicly available credit rating as of December 31, 2023.
|  | December 31, 2023
|  | Investment Grade
(Dollars in thousands) |  | Aaa |  | Aa1 |  | A3 |  | Baa1 |  | Baa2 |  |  |  | NR |  | Total
U.S. Treasury and government agencies |  | $ | 140,761 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 2,681 |  |  | $ | 143,442 |
Mortgage-backed securities |  | 357,870 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 357,870 |
Obligations of states and political subdivisions |  | — |  |  | 1,470 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 1,470 |
Other debt securities |  | — |  |  | — |  |  | 4,000 |  |  | 4,000 |  |  | 500 |  |  |  |  | 2,000 |  |  | 10,500 |
Total held-to-maturity securities |  | $ | 498,631 |  |  | $ | 1,470 |  |  | $ | 4,000 |  |  | $ | 4,000 |  |  | $ | 500 |  |  |  |  | $ | 4,681 |  |  | $ | 513,282 |
Available-For-Sale Securities and Held-to-Maturity, Continuous Unrealized Loss Position, Fair Value | The following table provides information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2023 and December 31, 2022.
|  | Less than 12 Months |  | More than 12 Months |  | Total
(Dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 74 |  |  | $ | — |  |  | $ | 17,750 |  |  | $ | 3,002 |  |  | $ | 17,824 |  |  | $ | 3,002 |
Mortgage-backed securities |  | 24,405 |  |  | 150 |  |  | 52,864 |  |  | 7,108 |  |  | 77,269 |  |  | 7,258 |
Other debt securities |  | — |  |  | — |  |  | 1,890 |  |  | 120 |  |  | 1,890 |  |  | 120 |
Total |  | $ | 24,479 |  |  | $ | 150 |  |  | $ | 72,504 |  |  | $ | 10,230 |  |  | $ | 96,983 |  |  | $ | 10,380 |
|  | Less than 12 Months |  | More than 12 Months |  | Total
(Dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 1,165 |  |  | $ | 4 |  |  | $ | 16,585 |  |  | $ | 3,588 |  |  | $ | 17,750 |  |  | $ | 3,592 |
Mortgage-backed securities |  | 29,125 |  |  | 2,409 |  |  | 34,167 |  |  | 6,290 |  |  | 63,292 |  |  | 8,699 |
Other debt securities |  | $ | 1,890 |  |  | $ | 128 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,890 |  |  | $ | 128 |
Total |  | $ | 32,180 |  |  | $ | 2,541 |  |  | $ | 50,752 |  |  | $ | 9,878 |  |  | $ | 82,932 |  |  | $ | 12,419 |
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 67,332 |  |  | $ | 2,786 |  |  | $ | 67,163 |  |  | $ | 10,815 |  |  | $ | 134,495 |  |  | $ | 13,601 |
Mortgage-backed securities |  | 148,771 |  |  | 9,402 |  |  | 199,649 |  |  | 41,062 |  |  | 348,420 |  |  | 50,464 |
Obligations of states and political subdivisions |  | 780 |  |  | 28 |  |  | — |  |  | — |  |  | 780 |  |  | 28 |
Other debt securities |  | 8,091 |  |  | 409 |  |  | 2,139 |  |  | 361 |  |  | 10,230 |  |  | 770 |
Total |  | $ | 224,974 |  |  | $ | 12,625 |  |  | $ | 268,951 |  |  | $ | 52,238 |  |  | $ | 493,925 |  |  | $ | 64,863 |
Schedule of Securities Debt Maturities | The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at December 31, 2023.
|  | Available for sale |  | Held to maturity
(Dollars in thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 2,447 |  |  | $ | 2,449 |  |  | $ | 7,000 |  |  | $ | 6,927 |
Due after one year through five years |  | 16,491 |  |  | 15,439 |  |  | 119,768 |  |  | 113,227 |
Due after five years through ten years |  | 29,257 |  |  | 26,436 |  |  | 50,538 |  |  | 45,833 |
Due after ten years |  | 72,637 |  |  | 66,197 |  |  | 335,976 |  |  | 291,843 |
Total |  | $ | 120,832 |  |  | $ | 110,521 |  |  | $ | 513,282 |  |  | $ | 457,830 |
Amortized Cost and Estimated Fair Values of Securities | The following table sets forth the amortized cost and estimated fair values of securities which have been pledged as collateral for obligations to federal, state and local government agencies, and other purposes as required or permitted by law, or sold under agreements to repurchase at December 31, 2023 and 2022.
|  | 2023 |  | 2022
(Dollars in thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Pledged available-for-sale securities |  | $ | 62,290 |  |  | $ | 54,489 |  |  | $ | 83,288 |  |  | $ | 72,108 |
Pledged held-to-maturity securities |  | 185,876 |  |  | 167,649 |  |  | 19,158 |  |  | 16,305 |

X
- Definition Tabular disclosure of amortized cost and estimated fair values of securities. + References No definition available. + Details
Name: | shbi_AmortizedCostAndEstimatedFairValuesOfSecuritiesTableTextBlock
Namespace Prefix: | shbi_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of reconciliation of amount, excluding accrued interest, of allowance for credit loss on investment in debt security measured at amortized cost (held-to-maturity). + References No definition available. + Details
Name: | shbi_ScheduleOfDebtSecuritiesHeldToMaturityExcludingAccruedInterestAllowanceForCreditLossTableTextBlock
Namespace Prefix: | shbi_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of credit quality indicator for investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-5 + Details
Name: | us-gaap_DebtSecuritiesHeldToMaturityCreditQualityIndicatorTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration