Deferred Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Deferred Compensation Arrangement

The following table provides information on Shore Bancshares, Inc.’s contributions and participant deferrals to the Plan for 2019 and 2018 and the related deferred compensation liability at December 31, 2019 and 2018.

(Dollars in thousands)	2019		2018
Deferred compensation contribution	$	—	$	—
Elective deferrals		133		—
Deferred compensation liability		363		268

SERP Plan

Schedule of Deferred Compensation Arrangement in Other Assets and Other Liabilities

During 2019, the Company introduced a new SERP plan for executive officers of the Company and the Bank. The related liability is unfunded; however, BOLI was purchased in order to offset the benefit costs. The following table provides information on the expense recognized during the year ended December 31, 2019, as well as the balance of the unfunded SERP liability and the cash surrender value of policies purchased to offset the SERP benefit cots as of December 31, 2019. The unfunded SERP liability and cash surrender value were included in other liabilities and other assets, respectively.

(Dollars in thousands)	2019
Cash surrender value	$	26,721
Deferred compensation liability - SERP		347
SERP Expense		347

Former Directors from CNB

Schedule of Deferred Compensation Arrangement in Other Assets and Other Liabilities

The following table includes information on the deferred compensation liability and cash surrender value at December 31, 2019 and 2018.

(Dollars in thousands)	2019		2018
Deferred compensation liability	$	691	$	772
Cash surrender value		2,919		3,726