Shore Bancshares reports Q3 EPS 47c vs. 27c last year

Robert Shuford, Jr., Chairman, President and CEO of the company and Old Point National Bank commented, “Old Point delivered strong financial performance in the third quarter of 2024. We believe our commitment to prioritizing capital, asset quality, liquidity, and expense discipline continues to provide strong results for our shareholders. We saw meaningful growth in our deposit base and net interest income during the quarter. We view our balance sheet as well positioned to manage through these uncertain economic times while still allowing us to capitalize on growth opportunities across our footprint.” Net interest margin was 3.56% for the third quarter of 2024 compared to 3.62% for the second quarter of 2024 and 3.33% for the third quarter of 2023. NIM on a fully tax-equivalent basis was 3.57% for the third quarter of 2024 compared to 3.63% for the second quarter of 2024 and 3.35% for the third quarter of 2023.