TOMS RIVER, N.J., Jan. 31 /PRNewswire-FirstCall/ -- Shore Community Bank (OTC:SHRC) (BULLETIN BOARD: SHRC) today reported net income of $310,736 for the fourth quarter of 2005, an 11.5 percent increase compared to net income of $278,671 reported for the fourth quarter of 2004. On a diluted basis, earnings per share for the fourth quarter of 2005 were 20 cents compared to 22 cents for the fourth quarter of 2004. The Bank also reported net income of $1,027,502 for the twelve months ended December 31, 2005, a 20.8 percent increase over the $850,289 reported in 2004. On a diluted basis, earnings per share for the year 2005 were 73 cents compared to 67 cents reported at year-end 2004. Earnings per share for the quarter and for the full year 2005 were impacted by the additional 280,000 shares that were issued as a result of the Bank's successful stock offering which was completed on September 1, 2005. Additionally, earnings per share for 2005 and 2004 have been adjusted for the 5% stock dividend declared in October 2005 and paid in January 2006. Theodore D. Bessler, President and Chief Executive Officer, stated, "Shore Community Bank has sustained exceptional growth in loans, deposits, and net income, exceeding all budget projections for the year." The Bank's total assets at December 31, 2005 were $164.0 million compared to $125.9 million at December 31, 2004, representing a 30.2 percent increase in total assets. Total loans at December 31, 2005 stood at $122.1 million compared to $85.2 million at December 31, 2004, an increase of 43.3 percent. Total deposits grew 29.4 percent to $138.7 million at December 31, 2005 compared to $107.2 million at December 31, 2004. Mr. Bessler stated, "We are very pleased with our financial performance in 2005 and we must continue to perform in the challenging year ahead." Mr. Bessler further stated, "Construction on our Jackson branch should commence within the next few months. We also intend to focus on obtaining local planning board approval to establish a branch location in Stafford Township. Once approval is granted, the Bank intends to begin construction on our site located on the corner of Jennings Road and Route 72 in Manahawkin." Shore Community Bank is traded on the OTCBB (Over the Counter Bulletin Board) under the symbol SHRC. Shore Community Bank operates four banking offices, three located in Toms River and one in Ortley Beach, New Jersey. The 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. 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 as 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. DATASOURCE: Shore Community Bank CONTACT: Robert English, EVP/CFO/COO, Shore Community Bank, +1-732-240-5800 Web site: http://www.shorecommunitybank.com/

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