Sandy Spring Bancorp Reports Fourth Quarter Earnings of $26.1 Million
OLNEY, Md., Jan. 23, 2024 (GLOBE NEWSWIRE) — Sandy Spring Bancorp, Inc. (Nasdaq-SASR), the parent company of Sandy Spring Bank, reported net income of $26.1 million ($0.58 per diluted common share) for the quarter ended December 31, 2023, compared to net income of $20.7 million ($0.46 per diluted common share) for the third quarter of 2023 and $34.0 million ($0.76 per diluted common share) for the fourth quarter of 2022. The increase in the current quarter’s net income compared to the linked quarter was a product of a lower provision for credit losses coupled with lower non-interest expense, partially offset by lower net interest income and non-interest income.
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