Shore Community Bank Announces Second Quarter Earnings TOMS RIVER, N.J., July 13 /PRNewswire-FirstCall/ -- Shore Community Bank (OTC:SHRC) (BULLETIN BOARD: SHRC) today reported net income of $195,038 for the second quarter of 2004, an 11.6 percent increase in earnings over the $174,674 reported in the second quarter 2003. On a diluted basis, earnings per share for the second quarter of 2004 were 18 cents compared to 17 cents for the second quarter of 2003. The Bank also reported net income of $335,191 for the six months ended June 30, 2004, an 18.3 percent increase over the $283,283 reported in the same period a year ago. On a diluted basis, earnings per share for the first half of 2004 were 31 cents compared to 27 cents reported in the first half of 2003. Theodore D. Bessler, President and Chief Executive Officer stated, "We are very pleased with the Bank's performance for the first half of the year. Our increase in pre-tax income over last year is a direct result of following our operating plan and meeting expected loan and deposit goal levels. We are excited about the results." Mr. Bessler noted, "Income before taxes for the six months ending June 30, 2004 were $537,934, up 55.8 percent compared to $345,283 reported for the first half of 2003. The Bank recorded a tax provision in the first six months of 2004 in the amount of $202,743. In 2003, a tax provision of only $62,000 was required due to the utilization of a net operating loss carry forward." The Bank's total assets at June 30, 2004 were $116.9 million compared to $93.4 million at June 30, 2003, representing a 25.1 percent increase in total assets. Total loans at June 30, 2004 stood at $73.8 million compared to $54.6 million at June 30, 2003, an increase of 35.2 percent. Total deposits grew 15.9 percent to $99.2 million at June 30, 2004 compared to $85.6 million at June 30, 2003. Mr. Bessler stated, "We will continue to emphasize a strong hands-on relationship with our small business clientele, which has proven to be our Bank's niche. Opportunities for continued loan and deposit growth are realistic. We're successful in our growth targets because we focus on personal service. It's what our Bank customers deserve and expect. As we move forward into the second half of the year, we will continue our commitment to work hard providing value for our shareholders and top-notch service to our loyal customer base." 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. The Bank 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, Shore Community Bank, +1-732-573-1300 Web site: http://www.shorecommunitybank.com/

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