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Deferred Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Deferred Compensation Arrangements [Abstract]

Schedule of Deferred Compensation Arrangement

The following table provides information on Shore Bancshares, Inc.’s contributions and participant deferrals to the Executive Deferred Compensation Plan and the related deferred compensation liability at December 31, 2024 and 2023.

($ in thousands)						December 31, 2024						December 31, 2023
Elective deferrals						$	276					$	273
Deferred compensation liability						1,506						1,576

Schedule of Deferred Compensation Arrangement in Other Assets and Other Liabilities

The unfunded SERP liability and cash surrender value were included on the consolidated balance sheets in other liabilities and other assets, respectively.

($ in thousands)						December 31, 2024						December 31, 2023
Cash surrender value						$	100,517					$	98,140
Deferred compensation liability - SERP						13,349						12,869
SERP expense						1,050						1,405

The following table includes information on the deferred compensation liability and cash surrender value as of December 31, 2024 and 2023.

($ in thousands)						December 31, 2024						December 31, 2023
Deferred compensation liability						$	331					$	388
Cash surrender value						2,257						2,322

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- References

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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Tabular disclosure of arrangements with individual employees that are not equity-based payments or pensions and other postretirement benefits, which are generally employment contracts between the entity and selected officers or key employees containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Examples may include profit sharing, deferred bonuses or certain split-dollar life insurance arrangements. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period and the carrying amount as of the balance sheet date of the related liability.

+ References

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-Topic 710
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