Shore Financial Completes Buy Back

Apr 30, 2001, 01:00 ET from Shore Financial Corporation

    ONLEY, Va., April 30 /PRNewswire/ -- Shore Financial Corporation announced
 today that it has effectively completed its stock buy back which was approved
 by the Board of Directors on November 11, 2000.  The stock repurchase program
 was approved for up to 90,000 shares of Shore Financial Corporation stock over
 a six month period.  The shares were repurchased by the company at prices
 ranging from a low of $6.625 to a high of $7.688, compared to a book value at
 March 31, 2001 of $8.76.
     According to Scott C. Harvard, President and CEO of Shore Financial
 Corporation, the company is completing the repurchase of shares ahead of
 schedule and at prices that will benefit the owners of the remaining shares.
 "We are pleased to have made these purchases this quickly and at prices well
 below book value,"  Harvard said.
     Shore Financial Corporation is the holding company for Shore Bank, a seven
 branch bank serving the Eastern Shore of Virginia and Maryland on the Delmarva
 Peninsula.
 
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SOURCE Shore Financial Corporation
    ONLEY, Va., April 30 /PRNewswire/ -- Shore Financial Corporation announced
 today that it has effectively completed its stock buy back which was approved
 by the Board of Directors on November 11, 2000.  The stock repurchase program
 was approved for up to 90,000 shares of Shore Financial Corporation stock over
 a six month period.  The shares were repurchased by the company at prices
 ranging from a low of $6.625 to a high of $7.688, compared to a book value at
 March 31, 2001 of $8.76.
     According to Scott C. Harvard, President and CEO of Shore Financial
 Corporation, the company is completing the repurchase of shares ahead of
 schedule and at prices that will benefit the owners of the remaining shares.
 "We are pleased to have made these purchases this quickly and at prices well
 below book value,"  Harvard said.
     Shore Financial Corporation is the holding company for Shore Bank, a seven
 branch bank serving the Eastern Shore of Virginia and Maryland on the Delmarva
 Peninsula.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X00617832
 
 SOURCE  Shore Financial Corporation