Shore Bancshares Extends $60M Note Exchange Deadline

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Shore Bancshares, Inc., the holding company for Shore United Bank, N.A., announced that it has extended the deadline for its offer to exchange up to $60 million in outstanding 6.25% subordinated notes due 2035 for an equivalent amount of registered notes. The exchange offer, which was previously set to expire on February 18, 2026, will now run until February 20, 2026. As of the previous deadline, approximately 97% of the outstanding notes, or $58 million, had been tendered in the exchange.

Why it matters

The extension of the exchange offer deadline allows Shore Bancshares more time to complete the transaction, which will help the company manage its debt and capital structure. The high rate of participation suggests strong investor interest in the exchange.

The details

Shore Bancshares issued $60 million in 6.25% subordinated notes in a private offering in November 2025. The company is now offering to exchange those notes for an equivalent amount of registered notes due in 2035. The exchange offer was previously set to expire on February 18, 2026, but has now been extended to February 20, 2026. As of the previous deadline, $58 million, or approximately 97%, of the outstanding notes had been tendered in the exchange.

• The original exchange offer was set to expire on February 18, 2026.
• The exchange offer deadline has now been extended to February 20, 2026.

What’s next

The exchange offer will now expire at 11:59 p.m. Eastern Time on February 20, 2026, unless further extended by the company.