July 28, 2014 2:57 PM ET

Banks

Company Overview of Shore Bank

Company Overview

Shore Bank operates as a community bank that provides banking products and services for individuals and businesses in Virginia. The company offers checking, savings, overdraft protection, certificates of deposit, and individual retirement accounts (IRA). Its lending portfolio includes real estate/mortgage loans, including home, construction, and lot loans; consumer loans, such as home equity, auto, boat, debt consolidation, and unsecured loans; home equity line of credit; and business loans comprising commercial mortgage, construction, term, single pay, and equipment or vehicle loans, as well as line of credit. The company also provides online and telephone banking, debit and credit cards, r...

25020 Shore Parkway

P. O. Box 920

Onley, VA 23418

United States

Founded in 1961

Phone:

757-787-1335

Fax:

757-789-3745

Key Executives for Shore Bank

Chief Executive Officer
Age: 48
Delaware Market President
Senior Vice President and Business Development Officer
Senior Vice President and Director of Marketing
Senior Vice President and Senior Credit Officer
Compensation as of Fiscal Year 2014.

Shore Bank Key Developments

Shore Bank to Open its Third Branch on the Eastern Shore of Maryland in June 2014

Hampton Roads Bankshares Inc., the holding company for The Bank of Hampton Roads (BHR) and Shore Bank (Shore), announced that Shore will open its third branch on the Eastern Shore of Maryland in June 2014. The branch will be located at 9748 Stephen Decatur Highway in Ocean City. This expansion follows the opening of a Loan Production Office (LPO) in West Ocean City in 2012.

Hampton Roads Bankshares Inc. Announces Consolidation of Seven the Bank of Hampton Roads and Shore Bank Branch Locations into Nearby Branches

Hampton Roads Bankshares Inc. announced the consolidation of seven The Bank of Hampton Roads and Shore Bank branch locations into nearby branches. These branch consolidations are one component of the company's long term strategic plan, known as 'One Bank', which forms the blueprint for the company's future success. The strategic framework of 'One Bank' provides for the optimal combination of branches and online/mobile banking technologies, supported by highly experienced bankers, to offer customers convenience and high service levels while maintaining an efficient, competitive cost structure. After consolidation, the company will continue to operate 33 full service strategic branch locations along with a full suite of the latest technologies including online, mobile and remote banking products and services. The company continues to invest in its electronic banking technologies, most recently announcing the roll out of its mobile banking platform as a complement to its branch network, online banking and remote deposit capture capabilities. As a result of these consolidations, the company expects to achieve significant operating expense savings, which the Company believes will begin to be realized in the third quarter of 2013. The company expects to record a charge in the first quarter of 2013 reflecting expenses related to these branch consolidations. The seven branches span the company's market area, with one in Richmond, two in Northeast North Carolina, three in the Hampton Roads area and one on the Eastern Shore. The company will be notifying each customer of the impacted branches to provide information on the expected closing date, and the location to which each branch's bank accounts and services will be transferred. Closings are expected to occur in June and July. The accounts and services in each closed branch will be transferred to a nearby branch, minimizing the impact on customers.

Shore Bank Appoints John R. Schroeder as Senior Vice President of Commercial Banking

Hampton Roads Bankshares Inc. announced that John R. Schroeder has joined Shore Bank's commercial banking team in Rehoboth Beach, Delaware as Senior Vice President -- Commercial Banking, reporting to James D. Barr, Delaware Market President for Shore Bank. Schroeder brings over 35 years of experience in commercial banking in southern Delaware and surrounding areas. Prior to joining Shore Bank, Schroeder served as Senior Vice President with Applied Bank in Rehoboth Beach, Delaware.

Similar Private Companies By Industry

Company Name Region
Eagle Bank (Glenwood, MN) United States
Home Savings Bank (Jefferson City, MO) United States
American Bank of the North United States
Dresdner Funding Trust II United States
Katahdin Trust Company United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Shore Bank, please visit www.shorebank.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.