Shore Community Bank Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Announces Net Charge-Offs for the Second Quarter Ended June 30, 2018
For the six months, the Bank reported net income grew 60.3% to $1,920,218, or 61 cents per diluted share, compared to net income of $1,197,925, or 38 cents per diluted share, for the six months ended June 30, 2017. Book value per share at June 30, 2018 was $9.41.
The company also reported Net charge-offs totaled $20,636 in the second quarter of 2018, compared to net loan recoveries of $2,174 in the second quarter of 2017.