Fundz

Shore Bancshares, Inc. Announces Receipt Of Regulatory Approvals For Acquisition Of Severn Bancorp, Inc.

PUBLIC · SHBISep 28, 2021

Acquiring Company

SHORE BANCSHARES

EastonFinancial ServicesLending And InvestmentsFinanceLendingBanking

Description

Shore Bancshares, Inc. ("the Company" or "Shore") (NASDAQ:SHBI), the holding company of Shore United Bank, announced today that it has received regulatory approval from the Office of the Comptroller of the Currency to convert Shore United Bank to a national bank and, for Severn Savings Bank, FSB to be merged with and into Shore United Bank, National Association on the terms and subject to the conditions of the Agreement and Plan of Merger, dated as of March 3, 2021, by and between the Company and Severn Bancorp, Inc. ("Severn"). The Company previously disclosed in its Registration Statement on Form S-4, as amended and filed with the Securities and Exchange Commission (the "SEC") on September 10, 2021, that the Company had received regulatory approval from the Federal Reserve Bank of Richmond for Severn to be merged with and into the Company. The consummation of the transaction remains subject to the approval by Severn's shareholders of the merger, the approval by the Company's shareholders of the merger and the issuance of shares of the Company's common stock to the holders of Severn common stock in connection with the merger, and the satisfaction of other closing conditions. The Company expects that the Severn acquisition will close in the fourth quarter of 2021.

Other recent acquisitions in Financial Services and Lending And Investments

Deals where the buyer or target shares a sector with this one, within 45 days, from Fundz verified event records.

Who to call at SHORE BANCSHARES, and when

When SHORE BANCSHARES changes hands, the new owners review vendors, systems and leadership. That is when the door opens.

  • An alert the day SHORE BANCSHARES raises, hires an executive or expands, scored against what you sell
  • The decision-makers there, with verified emails
  • Who you already know at SHORE BANCSHARES, from your own LinkedIn network

Works inside ChatGPT and Claude. Ask who to call at SHORE BANCSHARES. With Fundz connected, it knows.

Watch Fundz in
See plan options
Trusted byOracleSnowflakeCloudflareLinkedInGoogleSalesforce 4.8/5 on G2

Company Information

Company

SHORE BANCSHARES

Location

Easton, Maryland, United States

About

Shore Bancshares, Inc. is a Maryland-based banking and financial services company primarily engaged in providing a range of financial products and services. These include business and consumer banking, investment management, and mortgage lending services through its subsidiary banks. The company serves clients in the mid-Atlantic region, focusing on Maryland and Virginia markets. Shore Bancshares emphasizes community banking, aiming to build long-lasting relationships with its customers. Recent strategic developments include expanding digital banking solutions and enhancing service offerings to meet emerging customer needs.

AI made execution free. Knowing first is the whole game now.

Fundz sees it the moment SHORE BANCSHARES makes an acquisition, hires an exec or expands, usually minutes after it happens, and tells you who to reach.

Related People

Donna
Senior decision-maker at this company
••••••••@••••••••

See Donna's verified email →

Create an account to reveal verified emails
Predictive Intelligence
Strategic

ML-powered predictions for SHORE BANCSHARES's next move

Learn about Strategic plan

This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.

145 of these a day, filtered to the companies you pick, with the decision-maker attached.

5 screens from a live account. No signup.

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals, including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications, based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 281,000+ organizations. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.