Business Combination (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

(In thousands, except per share data)
Purchase Price Consideration:
Fair value of common shares issued (8,053,088 shares) based on Shore Bancshares, Inc. share price of $18.48	$	148,821
Cash consideration		20,631
Cash paid for cash-out Severn stock options		310
Cash for fractional shares		3
Total purchase price	$	169,765
Identifiable assets:
Cash and cash equivalents	$	326,725
Total securities		146,292
Loans held for sale		9,613
Loans, net (1)		584,776
Premises and equipment, net		24,768
Other real estate owned		329
Core deposit intangible asset		6,550
Other assets (1)		20,319
Total identifiable assets	$	1,119,372
Identifiable liabilities:
Deposits	$	955,288
Total debt		28,341
Other liabilities		11,727
Total identifiable liabilities	$	995,356
Fair value of net assets acquired including identifiable intangible assets		124,016
Resulting goodwill (1)	$	45,749

(1) Includes the effect of measurement period adjustments recorded during 2022 and reconciled

in the table below.  Measurement period adjustments included adjustments related to loan

validations and the final accounting for the income taxes of Severn.

Schedule of Changes in Fair Value of Assets Acquired and Liabilities Assumed

Goodwill at December 31, 2021	$	45,904
Effect of measurement period adjustments to:
Loans, net		(192)
Other assets		37
Goodwill at December 31, 2022	$	45,749

Schedule of Contractually Required Payments Receivable

Contractually required payments receivable	$	46,833
Nonaccretable difference		(3,364)
Cash flows expected to be collected		43,469
Accretable yield		(5,667)
Fair value	$	37,802