Press Releases

Shore Community Bank Announces Branch Expansion Plans

Posted on 8/31/2005 by in 2005

Toms River, New Jersey – August 31, 2005…Shore Community Bank (OTCBB:SHRC) reported today that it has received regulatory approval from the New Jersey Department of Banking and Insurance and the FDIC to establish a branch office at the northwest corner of the intersection of Route 72 and Jennings Road in Manahawkin, Stafford Township, Ocean County. This approval is in addition to approvals previously received by the Bank for the additional branch office…

Toms River, New Jersey – August 31, 2005…Shore Community Bank (OTCBB:SHRC) reported today that it has received regulatory approval from the New Jersey Department of Banking and Insurance and the FDIC to establish a branch office at the northwest corner of the intersection of Route 72 and Jennings Road in Manahawkin, Stafford Township, Ocean County.

This approval is in addition to approvals previously received by the Bank for the additional branch office that will be located in Jackson, Ocean County. The Jackson office will be located at the intersection of Route 528 (East Veterans Highway) and Route 547 (South Hope Chapel Road.)


Both facilities will be approximately 3,000 square feet in size and will be a smaller replica of the Bank’s recently opened corporate headquarters building located on Hooper Avenue, Toms River.


Theodore D. Bessler, President and CEO, stated, “Negotiations for the land leases for these two locations are substantially complete and we expect to open the Jackson branch in the second quarter of 2006, followed by the Manahawkin branch by late third quarter 2006.” Mr. Bessler further stated, “This is an exciting time for Shore Community Bank as we come off of a very successful secondary stock offering in which we raised $5.8 million and now are in the implementation stage of opening branches and growing the Bank. We all look forward to bringing our level of personal service to the residents of Jackson and Manahawkin townships.”


Shore Community Bank is traded on the OTCBB (Over the Counter Bulletin Board) under the symbol SHRC.


Shore Community Bank currently operates four banking offices, three located in Toms River and one in Ortley Beach. It was founded in 1997 by a group of local business leaders to return community-based banking to the Toms River area.


Information in this release relating to Shore Community Bank’s future prospects which are forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the following: (1) operating, legal and regulatory risks, such as continued levels of loan quality and origination volume, continued relationships with major customers and technological changes; (2) economic, political and competitive forces affecting our banking business, such us changes in economic conditions, especially in our market area, interest rate fluctuations, competitive product and pricing pressures within our market, personal and corporate bankruptcies, monetary policy and inflation; (3) our ability to grow internally or through acquisitions; and (4) the risk that management’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful. Forward-looking statements may be identified by the use of words such as “expects,” “believe,” “will,” “intends,” “will be” or “would.” Shore Community Bank assumes no obligation to update the forward-looking information in this announcement, except as required under applicable law.

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