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
Sandy Spring Bancorp (Nasdaq: SASR) has announced a quarterly common stock dividend of $0.34 per share, marking a $0.02 increase from the previous quarter and the first quarter of 2021. This dividend will be payable on February 28, 2022 to shareholders of record as of February 18, 2022. The increase highlights the company's commitment to returning value to its shareholders while continuing to capitalize on growth opportunities within its regional banking operations.
Sandy Spring Bancorp (SASR) reported record loan production, achieving $45.4 million in net income ($0.99 per diluted share) for Q4 2021. This marks a decline from $56.7 million in Q4 2020 and $57.0 million in Q3 2021. Core earnings also fell to $47.8 million, attributable to decreased non-interest income due to rising mortgage rates and increased expenses. Despite a 2% decrease in total assets to $12.6 billion, deposits increased 6%, driven by growth in non-interest-bearing deposits. The net interest margin improved to 3.51%.
Sandy Spring Bancorp, Inc. (SASR) will report its fourth quarter earnings on January 20, 2022. A conference call is scheduled for 2:00 p.m. ET, allowing investors to hear the results and ask questions. Participants can join the call by dialing 1-844-200-6205 and using Access Code 433045. The call will be available for live streaming on the Sandy Spring Bank website and a replay will be accessible until February 3, 2022. The company operates over 50 locations, providing a range of banking and wealth management services in the Greater Washington, D.C. area.
Sandy Spring Bancorp (Nasdaq: SASR) announced a quarterly dividend of $0.32 per share, payable on November 17, 2021, to shareholders of record on November 10, 2021. This dividend maintains consistency with the previous quarter and represents a $0.02 increase compared to the fourth quarter of 2020, reflecting the company's ongoing commitment to return value to its shareholders.
Sandy Spring Bancorp (Nasdaq-SASR) reported a strong net income of $57.0 million ($1.20 per diluted share) for Q3 2021, up from $44.6 million year-over-year. This increase was primarily driven by a decline in interest expenses and a credit to the provision for credit losses of $8.2 million. Core earnings stood at $52.0 million, slightly lower than last year’s $52.1 million. Total assets rose to $13.0 billion, with a 10% increase in deposits. However, non-interest income decreased 17%, mainly due to a 65% drop in mortgage banking activities.
Sandy Spring Bancorp (Nasdaq: SASR) will announce its third quarter earnings on October 21, 2021. A conference call is scheduled for 2:00 p.m. ET to discuss the results and answer questions, accessible by calling 1-844-200-6205 with Access Code: 896716. The call can be webcast live on the Sandy Spring Bank website. An internet replay will be available until November 4, 2021. Sandy Spring Bancorp is a premier community bank in the Greater Washington, D.C. region, offering a wide range of financial services.
Sandy Spring Bancorp, Inc. (Nasdaq: SASR) announced a quarterly common stock dividend of $0.32 per share, payable on August 18, 2021 to shareholders of record as of August 11, 2021. This dividend remains consistent with the previous quarter and represents an increase of $0.02 compared to the third quarter of 2020. Sandy Spring Bank operates over 60 locations and provides a wide range of financial services including commercial, retail banking, and wealth management across Maryland and the Greater Washington, D.C. region.
Sandy Spring Bancorp (SASR) reported net income of $57.3 million ($1.19 per diluted share) for Q2 2021, a sharp recovery from a net loss of $14.3 million in Q2 2020. Core earnings reached $55.1 million, up 6% year-over-year. The bank's total assets declined 3% to $12.9 billion, driven by a $179.2 million drop in PPP loans. Non-interest income grew 15% due to increased wealth management revenue, and non-interest expenses saw a decrease of 26% compared to the prior year.
Sandy Spring Bancorp, Inc. (Nasdaq: SASR) will announce its second quarter earnings on July 22, 2021. A conference call will follow at 2:00 p.m. (ET) to discuss the results, which will be available via live webcast. Interested participants can call 1-866-235-9910 to ask questions. An internet replay will be accessible until August 5, 2021. Sandy Spring Bancorp operates a community bank in the Greater Washington, D.C. region, boasting over 60 locations and a variety of services, including commercial and retail banking.
Sandy Spring Bank has announced leadership changes aimed at fostering growth and operational excellence. Promotions include Gary Fernandes as Chief Human Resources Officer, Ronda McDowell as Chief Operations Officer, and Heather Skigen Romagnoli as Chief Credit Officer. These appointments follow a period of rapid expansion and aim to enhance talent development, streamline operations, and improve credit management. The Bank, known for its market knowledge and service offerings, seeks to capitalize on its strengths for sustainable growth.
FAQ
What is the current stock price of Sandy Spring Bancorp (SASR)?
What is the market cap of Sandy Spring Bancorp (SASR)?
What is Sandy Spring Bancorp, Inc.?
What services does Sandy Spring Bank offer?
Where is Sandy Spring Bank located?
When was Sandy Spring Bank established?
What is CME Term SOFR?
How can I contact Sandy Spring Bancorp, Inc.?
Has Sandy Spring Bank received any recognitions?
Does Sandy Spring Bank offer online banking services?
What does the Community Banking segment entail?
What services are provided under the Investment Management segment?
