Schedule of Deferred Compensation Arrangement

The following table provides information on Shore Bancshares, Inc.’s contributions and participant deferrals to the Plan for 2021 and 2020 and the related deferred compensation liability as of December 31.


(Dollars in thousands)	2021		2020
Elective deferrals	$	192	$	319
Deferred compensation liability		972		614

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 to offset the benefit costs. The following table provides information on the expense recognized during the years ended December 31, as well as the balance of the unfunded SERP liability and the cash surrender value of policies purchased to offset the SERP benefit costs as of December 31. The unfunded SERP liability and cash surrender value were included in other liabilities and other assets, respectively.


(Dollars in thousands)	2021		2019
Cash surrender value	$	38,414	$	27,501
Deferred compensation liability - SERP		3,114		1,659
SERP Expense		1,455		1,422

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 as of December 31.


(Dollars in thousands)	2021		2020
Deferred compensation liability	$	554	$	631
Cash surrender value		2,200		2,979