EXHIBIT 21




                              LIST OF SUBSIDIARIES

Shore Bancshares, Inc. owns all of the issued and outstanding shares of common
stock of The Talbot Bank of Easton, Maryland, a Maryland state-chartered
commercial bank, and The Centreville National Bank of Maryland, a national
banking association. Shore Bancshares, Inc. owns all of the membership interests
in the Avon-Dixon Agency, LLC, a Maryland limited liability company, Elliott
Wilson Insurance, LLC, a Maryland limited liability company, and Mubell Finance,
LLC, a Maryland limited liability company.

The Talbot Bank of Easton, Maryland owns all the issued and outstanding shares
of common stock of Dover Street Realty, Inc., a Maryland corporation.

The Centreville National Bank of Maryland owns 29.25% of the issued and
outstanding common stock of The Delmarva Bank Data Processing Center, Inc., a
Maryland corporation and bank service corporation. The Delmarva Bank Data
Processing Center, Inc., also located in Easton, Maryland, provides data
processing services to financial institutions located in Maryland, Delaware,
Virginia and the District of Columbia.