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, Inc. (SASR) has declared a quarterly common stock dividend of $0.32 per share, to be paid on May 19, 2021, to shareholders on record as of May 12, 2021. This dividend remains consistent with the previous quarter and is an increase of $0.02 compared to the same period last year. Sandy Spring Bancorp is a leading community bank serving the Greater Washington, D.C. area with over 60 locations and a wide range of financial services.
Sandy Spring Bancorp (SASR) reported a robust net income of $75.5 million ($1.58 per diluted share) for Q1 2021, a significant increase from $10.0 million ($0.28) in Q1 2020. Core earnings reached $56.9 million ($1.20), up from $29.6 million in the prior year. A credit of $34.7 million for the provision of credit losses was noted, driven by an improving economic forecast. Total assets surged 44% to $12.9 billion, with loans and deposits growing 55% and 62%, respectively. The company raised its dividend to $0.32 per share, reflecting strong financial health.
Sandy Spring Bancorp, Inc. (SASR) is set to announce its first quarter earnings on April 22, 2021. A conference call will occur at 2:00 p.m. ET to discuss the results and field questions. Participants can join via telephone or listen to the live webcast on the Investor Relations page of the company’s website. A replay of the call will be accessible through the website until May 6, 2021. Sandy Spring Bancorp operates a community bank in the Greater Washington, D.C. region with over 60 locations, providing various financial services including commercial, retail banking, mortgage, and trust services.
Sandy Spring Bancorp (NASDAQ: SASR) released its inaugural Corporate Responsibility Report on March 17, 2021, detailing the company's efforts in addressing key environmental, social, and governance (ESG) issues for 2020. President and CEO Daniel J. Schrider emphasized the company's dedication to social responsibility, sustainability, transparency, and accountability. The report showcases the outcomes of these initiatives, reflecting over 150 years of commitment to client and community needs. For full access to the report, visit Sandy Spring Bank.
Sandy Spring Bank has opened a new full-service community office at 647 New York Avenue, Washington, D.C., to cater to the growing needs of its clients. This branch is the bank's fourth in the city and part of its 61 branches overall. It will offer a variety of services including business banking, mortgage loan programs, and wealth planning. The CEO highlighted the potential for growth in the vibrant business community of D.C., aiming to support clients as they adapt post-pandemic.
On January 28, 2021, Sandy Spring Bancorp, Inc. (SASR) announced a quarterly dividend of $0.32 per share, payable on February 24, 2021 to shareholders recorded by February 17, 2021. This represents a $0.02 increase from the previous quarter and the first quarter of 2020. The bank operates over 60 locations in the Greater Washington, D.C. area, providing a wide range of commercial, retail, and mortgage banking services.
Sandy Spring Bancorp reported a record net income of $56.7 million ($1.19 per share) for Q4 2020, up 27% from Q3 and 99% year-over-year. Total assets increased 48% to $12.8 billion, driven by acquisitions and participation in the PPP.
Non-interest income rose 68% due to mortgage banking activity, while non-interest expenses climbed 34%. The provision for credit losses was a $4.5 million credit, indicating improved economic conditions. Despite a 17% decrease in annual net income to $97.0 million, the outlook remains positive.
Sandy Spring Bancorp, Inc. (Nasdaq: SASR) is set to announce its fourth quarter earnings on January 21, 2021. A conference call will take place at 2:00 p.m. (ET) on the same day, where the company will discuss earnings results and engage with participants. Interested parties can listen to the live webcast through the Sandy Spring Bank website. An internet replay will be available until February 4, 2021, providing stakeholders with access to the discussion.
Sandy Spring Bancorp (SASR) announced a board-approved repurchase plan for up to 2,350,000 shares, approximating 5% of its outstanding shares. The repurchases aim to enhance shareholder value and will occur through open market purchases or private transactions based on market conditions. This strategy reflects confidence in the company’s financial health and future growth potential.
Sandy Spring Bancorp (Nasdaq: SASR) has declared a quarterly dividend of $0.30 per share, payable on November 18, 2020, to shareholders of record on November 11, 2020. This dividend maintains the same amount as the previous quarters, reflecting stability in the company’s dividend policy. Sandy Spring Bancorp is a prominent community bank serving the Greater Washington, D.C. area with a variety of financial services, reinforcing its confidence in ongoing shareholder returns amidst market fluctuations.
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