PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 23. 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)	2013		2012
Assets
Cash	$	987	$	820
Investment in subsidiaries		102,815		113,529
Premises and equipment, net		2,726		2,616
Other assets		1,284		1,601
Total assets	$	107,812	$	118,566
Liabilities
Deferred tax liability	$	1,628	$	1,687
Other liabilities		542		510
Long-term debt		2,343		2,343
Total liabilities		4,513		4,540
Stockholders’ equity
Common stock		85		85
Additional paid in capital		32,207		32,155
Retained earnings		71,444		81,078
Accumulated other comprehensive (loss) income		(437)		708
Total stockholders’ equity		103,299		114,026
Total liabilities and stockholders’ equity	$	107,812	$	118,566

Condensed Statements of Operations

For the Years Ended December 31,

(Dollars in thousands)	2013		2012		2011
Income
Dividends from subsidiaries	$	2,163	$	3,154	$	1,519
Management and other fees from subsidiaries		6,226		5,692		5,783
Other income		31		180		251
Total income		8,420		9,026		7,553
Expenses
Interest expense		88		107		154
Salaries and employee benefits		4,447		4,188		3,977
Occupancy and equipment expense		508		463		471
Other operating expenses		1,853		1,529		1,360
Total expenses		6,896		6,287		5,962
Income before income tax expense and equity in      undistributed net loss of subsidiaries		1,524		2,739		1,591
Income tax benefit		(61)		(58)		(190)
Income before equity in undistributed      net loss of subsidiaries		1,585		2,797		1,781
Equity in undistributed net loss of subsidiaries		(11,219)		(12,435)		(2,678)
Net loss	$	(9,634)	$	(9,638)	$	(897)

 

Condensed Statements of Cash Flows

For the Years Ended December 31,

(Dollars in thousands)	2013		2012		2011
Cash flows from operating activities:
Net loss	$	(9,634)	$	(9,638)	$	(897)
Adjustments to reconcile net loss to cash provided by    operating activities:
Equity in undistributed net loss of subsidiaries		11,219		12,435		2,678
Depreciation and amortization		386		367		404
Stock-based compensation expense		78		209		338
Excess tax benefit from stock-based arrangements		(26)		(106)		(45)
Net decrease (increase) in other assets		128		(246)		(253)
Net decrease in other liabilities		(53)		(423)		(99)
Net cash provided by operating activities		2,098		2,598		2,126
Cash flows from investing activities:
Purchases of premises and equipment		(307)		(108)		(57)
Investment in unconsolidated subsidiary		-		-		(25)
Investment in subsidiaries		(1,650)		(2,000)		(550)
Net cash used in investing activities		(1,957)		(2,108)		(632)
Cash flows from financing activities:
Repayment of long-term debt		-		(1,007)		(782)
Excess tax benefit from stock-based arrangements		26		106		45
Repurchase of warrant		-		-		(25)
Common stock dividends paid		-		(85)		(760)
Net cash provided by (used in) financing activities		26		(986)		(1,522)
Net increase (decrease) in cash and cash equivalents		167		(496)		(28)
Cash and cash equivalents at beginning of year		820		1,316		1,344
Cash and cash equivalents at end of year	$	987	$	820	$	1,316