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Sandy Spring Bancorp Inc - SASR STOCK NEWS

Welcome to our dedicated page for Sandy Spring Bancorp news (Ticker: SASR), a resource for investors and traders seeking the latest updates and insights on Sandy Spring Bancorp stock.

Sandy Spring Bancorp, Inc. (NASDAQ: SASR) is the holding company for Sandy Spring Bank, the largest locally-headquartered community bank in the Greater Washington, D.C. region. Established in 1868, Sandy Spring Bank has been serving its community for over 150 years, making it one of the oldest banking institutions in the area.

Sandy Spring Bank offers a comprehensive range of commercial banking, retail banking, mortgage, insurance, and wealth and trust services. It operates through two main segments: Community Banking and Investment Management. The Community Banking segment delivers a broad spectrum of financial products and services, including loans and deposit products tailored for both individuals and businesses. The Investment Management segment provides financial planning services, which include cash flow analysis, investment reviews, tax planning, retirement planning, insurance analysis, and estate planning.

With over 50 banking and financial centers across Central Maryland, Northern Virginia, and the Greater Washington, D.C. market, Sandy Spring Bank remains committed to its community-oriented values. It has been recognized by Forbes as one of the 50 most trustworthy financial companies in America for 12 consecutive years.

The bank also embraces modern banking technologies, offering sophisticated online and mobile banking products designed to meet the needs of individuals, as well as small and mid-sized businesses. Through an affiliation with the Allpoint ATM network, Sandy Spring Bank clients enjoy free nationwide access to ATMs, enhancing the convenience of their banking experience.

Recently, Sandy Spring Bancorp, Inc. announced the adoption of CME Term SOFR as the replacement reference rate for certain fixed-to-floating rate debt securities that previously used the three-month U.S. dollar LIBOR. This move is in accordance with the Adjustable Interest Rate (LIBOR) Act and the final regulations issued by the Federal Reserve System.

For further information, Sandy Spring Bancorp, Inc. can be contacted at:

  • Daniel J. Schrider, Chair, President & Chief Executive Officer
  • Philip J. Mantua, E.V.P. & Chief Financial Officer

Address: 17801 Georgia Avenue, Olney, Maryland 20832
Phone: 1-800-399-5919
Email: DSchrider@sandyspringbank.com, PMantua@sandyspringbank.com
Website: www.sandyspringbank.com

News

Sandy Spring Bancorp Declares Quarterly Dividend

Rhea-AI Summary
Sandy Spring Bancorp, Inc. declared a quarterly common stock dividend of $0.34 per share, consistent with previous quarters, to be paid on May 15, 2024, to shareholders of record on May 8, 2024.
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Sandy Spring Bancorp Reports First Quarter Earnings of $20.4 Million

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Sandy Spring Bancorp, Inc. reported first-quarter earnings of $20.4 million, with core earnings at $21.9 million. Net income and core earnings declined compared to the previous quarter due to higher provision for credit losses, lower net interest income, and higher non-interest expenses. The total provision for credit losses was $2.4 million for the first quarter of 2024. The company focused on expanding client relationships and maintaining credit quality. Total assets decreased by 1% to $13.9 billion, while deposits increased by 2% to $11.2 billion. Non-interest income grew by 11%, and non-interest expense increased by 1%. Return on average assets was 0.58% for the quarter. The company's non-GAAP efficiency ratio was 66.73% for the first quarter of 2024. Non-performing loans decreased, and total borrowings declined by $353.4 million. The tangible common equity ratio increased to 8.86% at March 31, 2024. The company's total risk-based capital ratio was 15.05%, exceeding regulatory requirements.
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Sandy Spring Bancorp, Inc. to Webcast First Quarter Earnings Conference Call on April 23, 2024

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Sandy Spring Bancorp, Inc. (SASR) will announce its first quarter earnings on April 23, 2024. The company will hold a conference call to discuss results and answer questions. Investors can participate via webcast or phone, with replays available online and via telephone.
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Sandy Spring Bank Senior Vice President Elected President of Mortgage Trade Association

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Sandy Spring Bank appoints Malcolm Hollensteiner as President of the Board of Governors for MMBBA, showcasing his extensive experience in financial services and commitment to professional development.
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Sandy Spring Bank Donates $50,000 to Local Food Banks to Support Access to Nutritious Food

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Sandy Spring Bank donates $50,000 to combat hunger in the Greater Washington Region. The bank supports Capital Area Food Bank and Maryland Food Bank with $25,000 each, aiding in their efforts to address food insecurity.
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Sandy Spring Bancorp Declares Quarterly Dividend

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Sandy Spring Bancorp, Inc. (SASR) declared a quarterly common stock dividend of $0.34 per share, consistent with the previous linked quarter and the first quarter of 2023.
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Sandy Spring Bancorp Reports Fourth Quarter Earnings of $26.1 Million

Rhea-AI Summary
Sandy Spring Bancorp, Inc. reported net income of $26.1 million for Q4 2023, a decrease from $34.0 million in Q4 2022. Total assets decreased by 1% to $14.0 billion. Total loans increased by $66.7 million, while deposits decreased by $154.5 million. Non-performing loans to total loans were 0.81% at December 31, 2023. Net interest income declined by 4% compared to the previous quarter and 23% compared to Q4 2022. Non-interest expense decreased by 7% compared to the previous quarter. Return on average assets for Q4 2023 was 0.73%, and return on average tangible common equity was 9.26%.
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Sandy Spring Bancorp, Inc. to Webcast Fourth Quarter Earnings Conference Call on January 23, 2024

Rhea-AI Summary
Sandy Spring Bancorp, Inc. (Nasdaq: SASR) will announce its fourth quarter earnings on Tuesday, January 23, 2024. The company will hold a conference call to discuss results and answer questions. The conference call will be webcast live through the Sandy Spring Bank website. An internet-based replay will be available on the Investor Relations page of the website until February 6, 2024. A telephone voice replay will also be available during that same time period.
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Sandy Spring Bank Opens One Loudoun Location

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Sandy Spring Bank (SSB) has opened a new full-service branch at One Loudoun in Ashburn, Virginia, to expand its Northern Virginia presence. The branch aims to cater to the financial needs of residents and businesses in the region. With over 16 years of active involvement in the local Loudoun community, SSB is committed to providing convenient banking services and supporting various organizations. The new branch, managed by Friba Bakhtary, offers clients access to online, mobile, and telephone banking, along with no-fee ATMs in the Allpoint network.
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Sandy Spring Bancorp Declares Quarterly Dividend

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Sandy Spring Bancorp declares quarterly dividend of $0.34 per share.
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FAQ

What is the current stock price of Sandy Spring Bancorp (SASR)?

The current stock price of Sandy Spring Bancorp (SASR) is $34 as of December 20, 2024.

What is the market cap of Sandy Spring Bancorp (SASR)?

The market cap of Sandy Spring Bancorp (SASR) is approximately 1.5B.

What is Sandy Spring Bancorp, Inc.?

Sandy Spring Bancorp, Inc. (NASDAQ: SASR) is the holding company for Sandy Spring Bank, a major community bank in the Greater Washington, D.C. region.

What services does Sandy Spring Bank offer?

Sandy Spring Bank offers commercial banking, retail banking, mortgage, insurance, and wealth and trust services.

Where is Sandy Spring Bank located?

Sandy Spring Bank operates over 50 banking and financial centers across Central Maryland, Northern Virginia, and the Greater Washington, D.C. market.

When was Sandy Spring Bank established?

Sandy Spring Bank was established in 1868, making it one of the oldest banking institutions in the region.

What is CME Term SOFR?

CME Term SOFR is a reference rate that Sandy Spring Bancorp, Inc. has adopted to replace the three-month U.S. dollar LIBOR for certain debt securities.

How can I contact Sandy Spring Bancorp, Inc.?

You can contact Sandy Spring Bancorp, Inc. via phone at 1-800-399-5919 or email at DSchrider@sandyspringbank.com or PMantua@sandyspringbank.com.

Has Sandy Spring Bank received any recognitions?

Yes, Sandy Spring Bank has been recognized by Forbes as one of the 50 most trustworthy financial companies in America for 12 consecutive years.

Does Sandy Spring Bank offer online banking services?

Yes, Sandy Spring Bank offers sophisticated online and mobile banking products for individuals and businesses.

What does the Community Banking segment entail?

The Community Banking segment includes a wide range of financial products and services such as loans and deposit products for individuals and businesses.

What services are provided under the Investment Management segment?

The Investment Management segment offers financial planning services, including cash flow analysis, investment review, tax planning, retirement planning, insurance analysis, and estate planning.

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Sandy Spring Bancorp Inc

Nasdaq:SASR

SASR Rankings

#2180 Ranked by Market Cap
#781 Ranked by Dividends

SASR Stock Data

1.53B
43.37M
3.68%
74.42%
2.5%
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