Shore United Bank to open new branch in South Ocean City, Maryland
Shore United Bank, the banking subsidiary of Shore Bancshares, announced the opening of a new office on 34th street in South Ocean City, Maryland, in 2022.
The new South Ocean City branch will be a full-service banking office to be located on Ocean Gateway, Ocean City.
Lloyd L. Beatty, Jr. – President and CEO of Shore Bancshares said: “We have been working with businesses and customers on the island of Ocean City for a very long time and have grown many relationships in the past few years thanks to the efforts of our West Ocean City branch and LPO team.
“Recently, we participated and provided PPP (“Payroll Protection Program”) lending to many businesses within Ocean City that were greatly impacted by the pandemic. We strive to meet the needs of our customers by delivering unmatched customer service.”
Shore United Bank to open new branch in South Ocean City, Maryland
Lloyd L. Beatty, Jr. added that the growth in the Ocean City market has driven the bank’s expansion with the new location giving it scope to reach more business customers.
Shore Bancshares is a financial holding company based in Easton, Maryland. It is claimed to be the largest independent bank holding company on Maryland’s Eastern Shore.
The financial holding company also provides trust and wealth management services through Wye Financial Partners, which is a unit of Shore United Bank.
Currently, Shore United Bank has 22 full-service branches.
Last month, Shore Bancshares signed a stock-cum-cash merger deal worth about $146m with Severn Bancorp, the Maryland-based bank holding company of Severn Savings Bank, FSB.