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Shore Community Bank Announces Commencement of Additional Common Stock Offering

Posted on 5/24/2005 by in 2005

Toms River, New Jersey, May 24, 2005 – Shore Community Bank (OTCBB: SHRC), has previously announced that it was planning to raise additional capital through the sale of additional shares of its Common Stock. Today, officers of the Bank announced that the Bank has commenced the stock offering and has mailed a prospectus for the offering, dated May 24, 2005, to the Bank’s shareholders of record as of April 25, 2005. The…

Toms River, New Jersey, May 24, 2005 – Shore Community Bank (OTCBB: SHRC), has previously announced that it was planning to raise additional capital through the sale of additional shares of its Common Stock. Today, officers of the Bank announced that the Bank has commenced the stock offering and has mailed a prospectus for the offering, dated May 24, 2005, to the Bank’s shareholders of record as of April 25, 2005. The Bank is offering for sale up to 230,000 shares of the common stock, with an option to sell an additional 50,000 to cover over-subscriptions, if any. The shares are being sold at a price of $21.00 per share.


The offering will first be made through June 24, 2005 to shareholders of record as of April 25, 2005. In the event of an over-subscription by existing stockholders, orders will be allocated among subscribers by the Bank’s Board of Directors in the manner set forth in the prospectus. If all of the offered shares of the common stock are not entirely purchased by existing stockholders by June 24, 2005, the remaining shares will be offered to the public, with a preference given to current customers of Shore Community Bank.


Shore Community Bank was founded in 1997 by a group of local business leaders to return community-based banking to the Toms River, Ocean County, New Jersey area. The Bank operates four banking offices, three located in Toms River and one in Ortley Beach, New Jersey. Regulatory approvals have been received for a fifth branch office, which is expected to open in early 2006 at the intersection of Route 528 and Route 547 in Jackson Township, Ocean County, New Jersey.


At March 31,2005, the Bank had total assets, deposits, loans (net of allowance for loan losses) and stockholders’ equity of $132.7 million, $114.1 million, $88.3 million and $8.6 million, respectively. A copy of the stock offering prospectus may be obtained by contacting renglish@shorecommunitybank.com.

The above information does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. The offer will be made solely by the prospectus and is not being made to persons in any jurisdiction in which the offer or solicitation would be unlawful. You are urged to read the prospectus carefully before investing.

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