Sandy Spring Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 23, 2024 at 07:00 am EST
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Sandy Spring Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 81.7 million compared to USD 106.64 million a year ago. Net income was USD 26.1 million compared to USD 33.98 million a year ago. Basic earnings per share from continuing operations was USD 0.58 compared to USD 0.76 a year ago. Diluted earnings per share from continuing operations was USD 0.58 compared to USD 0.76 a year ago.
For the full year, net interest income was USD 354.55 million compared to USD 427 million a year ago. Net income was USD 122.84 million compared to USD 166.3 million a year ago. Basic earnings per share from continuing operations was USD 2.74 compared to USD 3.69 a year ago. Diluted earnings per share from continuing operations was USD 2.73 compared to USD 3.68 a year ago.
Sandy Spring Bancorp, Inc. is the bank holding company for Sandy Spring Bank (the Bank). The Company offers a range of commercial and retail banking, mortgage, private banking and trust services at approximately 50 locations throughout central Maryland, northern Virginia, and Washington D.C. It offers a menu of loan products, which include commercial loans, residential real estate loans, and consumer loans. Its commercial loans consist of commercial real estate loans, commercial construction loans and commercial business loans. Its consumer loans include primarily home equity loans and lines, installment loans and personal lines of credit. Its consumer loans include installment loans used by customers to purchase automobiles, boats and recreational vehicles. Through its subsidiaries, SSB Wealth Management, Inc. (d/b/a Rembert Pendleton Jackson) and West Financial Services, Inc., Sandy Spring Bank, offers a comprehensive menu of wealth management services.
SANDY SPRING BANCORP, INC. 
