EASTON, Md., June 23 /PRNewswire-FirstCall/ -- Shore Bancshares, Inc.
(Nasdaq: SHBI) is set to join the broad-market Russell 3000(R) Index when
Russell Investments reconstitutes its comprehensive set of U.S. and global
equity indexes on June 27, according to a preliminary list of additions posted
last Friday on www.russell.com. Annual reconstitution of Russell's U.S.
indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking
them by total market capitalization.
Separately, according to the Independent Community Bankers of America's
annual yearend performance ranking of its membership, The Talbot Bank (the
largest subsidiary of SHBI) has been ranked 13th out of the top 20 performers
in terms of Return on Assets among ICBA members with total assets of more than
$500 million. With a 1.81% ROA for 2007, The Talbot Bank was the only East
Coast bank in its category to make the top 20 list.
"We are pleased that Shore Bancshares will be added as a member of the
nationally-recognized Russell Indices. This is an indication of our company's
sustained growth and should help enhance our visibility with the investment
community," said W. Moorhead Vermilye, President and Chief Executive Officer.
"Further, the Talbot Bank's inclusion among the ICBA's top 20 ROA performers
in its large-bank category is evidence of the financial strength of our
organization's lead subsidiary. These are encouraging news developments for
our company, especially during a challenging operating environment for our
industry."
About Russell
Membership in the Russell 3000, which remains in place for one year, means
automatic inclusion in the large-cap Russell 1000(R) Index or small-cap
Russell 2000(R) Index as well as the appropriate growth and value style
indexes. Russell determines membership for its equity indexes primarily by
objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. An industry-leading $4.4 trillion in assets currently
are benchmarked to them. These investment tools originated from Russell's
multi-manager investment business in the early 1980s when the company saw the
need for a more objective, market-driven set of benchmarks in order to
evaluate outside investment managers.
About ICBA
The Independent Community Bankers of America represents 5,000 community
banks of all sizes and charter types throughout the United States with more
than 18,000 locations nationwide and employing over 268,000 Americans. ICBA
members hold more than $908 billion in assets, $726 billion in deposits, and
more than $619 billion in loans to consumers, small businesses and the
agricultural community.
About Shore Bancshares, Inc.
Shore Bancshares, Inc. is a financial holding company headquartered in
Easton, Maryland and is the largest independent bank holding company located
on Maryland's Eastern Shore. It is the parent company of three banks, The
Talbot Bank of Easton, Maryland, The Centreville National Bank of Maryland,
and The Felton Bank; three insurance producer firms, The Avon-Dixon Agency,
LLC, Elliott Wilson Insurance, LLC and Jack Martin and Associates, Inc; a
wholesale insurance company, TSGIA, Inc; two insurance premium finance
companies, Mubell Finance, LLC and ESFS, Inc; a registered investment adviser
firm, Wye Financial Services, LLC; and a mortgage broker subsidiary, Wye
Mortgage Group, LLC.
SOURCE Shore Bancshares, Inc.