ShoreBank Doing Well...By Doing Good

ShoreBank announced record earnings for the year ending December 31, 2003, performing better than comparable banks with assets of more than $1 billion, while also achieving record levels of lending on Chicago's South and West side neighborhoods, and on Detroit's East Side. In 2003, the Bank made more than $250 million in community development loans -- 37% more than in any preceding year -- which represents 69% of the bank's total lending.

"Our financial performance consistently proves that you can focus your resources in the inner city and be profitable," said Anne Arvia, President and Chief Executive Officer. "The company's strong asset quality, core earnings and the long-term community development and environmental strategies exemplify this."

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