Shore Community Bank Announces First Quarter Earnings TOMS RIVER, N.J., April 13 /PRNewswire-FirstCall/ -- Shore Community Bank (BULLETIN BOARD: SHRC) today reported net income of $140,158 for the first quarter of 2004, up 29 percent from first quarter 2003 net income of $108,609. On a diluted basis, earnings per share for the first quarter were 13 cents compared to 10 cents for the first quarter of 2003. Theodore D. Bessler, president and CEO, noted that income before taxes was $234,358, up 78 percent compared to $131,609 at March 31, 2003. The Bank recorded a provision for income tax in the first quarter of 2004 in the amount of $94,200 compared to $23,000 in 2003. The Bank's total assets at March 31, 2004 were $101.8 million compared to $89.0 million at March 31, 2003, representing a 14 percent increase in total assets. Total loans at March 31, 2004 stood at $69.5 million compared to $51.4 million at March 31, 2003, an increase of 35 percent. Total deposits grew 15 percent to $93.6 million at March 31, 2004 compared to $81.3 million at March 31, 2003. Mr. Bessler stated, "We are on target with our strategic objectives thus far this year. Strong loan growth which continued in the first quarter helped improve our net interest margin and is the key to continued profitability." 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. It was founded in 1997 by a group of local business leaders to return community-based banking to the Toms River area. DATASOURCE: Shore Community Bank CONTACT: Robert English, Executive Vice President/CFO/COO, Shore Community Bank, +1-732-573-1300 Web site: http://www.shorecommunitybank.com/

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