Sandy Spring Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 25, 2023 at 07:00 am EDT
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Sandy Spring Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 90.47 million compared to USD 105.95 million a year ago. Net income was USD 24.75 million compared to USD 54.8 million a year ago. Basic earnings per share from continuing operations was USD 0.55 compared to USD 1.21 a year ago. Diluted earnings per share from continuing operations was USD 0.55 compared to USD 1.21 a year ago.
For the six months, net interest income was USD 187.77 million compared to USD 207.4 million a year ago. Net income was USD 76 million compared to USD 98.74 million a year ago. Basic earnings per share from continuing operations was USD 1.69 compared to USD 2.18 a year ago. Diluted earnings per share from continuing operations was USD 1.69 compared to USD 2.17 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. 
