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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Sandy Spring Bancorp, Inc.    SASR

SANDY SPRING BANCORP, INC.

(SASR)
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Sandy Spring Bancorp : 2nd Quarter 2020 Investor Presentation

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09/14/2020 | 04:25pm EDT

From Here. For Here.

Investor Presentation

2nd Quarter 2020

September 14, 2020

From Here. For Here.

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Forward Looking Statements and Non-GAAP Financial Information

Forward-Looking Statements

This presentation may contain forward-looking statements within the meaning of the securities laws that are based on various facts and derived utilizing important assumptions, present expectations, estimates and projections about Sandy Spring Bancorp, Inc. and its subsidiaries ("Sandy Spring", "SASR" or "the Company"). Statements preceded by, followed by or that otherwise include the words "believes," "expects," "continues," "anticipates," "intends," "projects," "estimates," "potential," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. Forward-looking statements include information concerning Sandy Spring's future financial performance, business and growth strategy, projected plans and objectives, as well as projections of macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact economic trends, and any such variations may be material. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of Sandy Spring's control, which may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to whether Sandy Spring can: continue to develop and maintain new and existing customer and community relationships; successfully implement its growth strategy, including identifying suitable acquisition targets and integrating the businesses of acquired companies and banks; sustain its current internal growth rate; provide quality and competitive products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its performance objectives. These and various other risk factors are discussed in Sandy Spring's Annual Report on Form 10-K for the fiscal year ended December 31,2019 and in other reports and statements Sandy Spring has filed with the Securities and Exchange Commission ("SEC"). Copies of such filings are available for download free of charge from the Investor Relations section of Sandy Spring's website at www.sandyspringbank.com.

In addition to the above factors and those previously disclosed in Sandy Spring's reports filed with the SEC, the following factors among others, could cause actual results to differ materially from those in its forward-looking statements: (i) risks, uncertainties and other factors relating to the COVID-19 pandemic, including the length of time that the pandemic continues, the imposition of shelter in place orders and restrictions on travel, the effect of the pandemic on the general economy and on the businesses of the Company's borrowers and their ability to make payments on their obligations, the remedial actions and stimulus measures adopted by federal, state and local governments, and the inability of employees to work due to illness, quarantine, or government mandates; (ii) general business and economic conditions nationally or in the markets that the Company serves could adversely affect, among other things, real estate prices, unemployment levels, and consumer and business confidence, which could lead to decreases in the demand for loans, deposits and other financial services and increases in loan delinquencies and defaults; (iii) changes or volatility in the capital markets and interest rates may adversely impact the value of securities, loans, deposits and other financial instruments and the interest rate sensitivity of the Company's balance sheet as well as its liquidity; (iv) liquidity requirements could be adversely affected by changes in the Company's assets and liabilities; (v) the Company's investment securities portfolio is subject to credit risk, market risk, and liquidity risk as well as changes in the estimates used to value certain of the securities in the portfolio; (vi) the effect of legislative or regulatory developments including changes in laws concerning taxes, banking, securities, insurance and other aspects of the financial services industry; (vii) acquisition integration risks, including potential deposit attrition, higher than expected costs, customer loss, business disruption and the inability to realize benefits and costs savings from, and limit any unexpected liabilities associated with, any business combinations; (viii) competitive factors among financial services companies, including product and pricing pressures and the Company's ability to attract, develop and retain qualified banking professionals; (ix) the effect of changes in accounting policies and practices, as may be adopted by the Financial Accounting Standards Board, the Securities and Exchange Commission, the Public Company Accounting Oversight Board and other regulatory agencies; and (x) the effect of fiscal and governmental policies of the United States federal government.

Any forward-looking statement made by Sandy Spring in this presentation speaks only as of the date on which it is made. Factors or events that could cause Sandy Spring's actual results to differ may emerge from time to time, and it is not possible for Sandy Spring to predict all of them. Sandy Spring undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

From Here. For Here.

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Forward Looking Statements and Non-GAAP Financial Information (continued)

Non-GAAP Financial Measures

This presentation includes certain non-GAAP financial measures. In accordance with the SEC's rules, Sandy Spring classifies a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles as in effect from time to time in the United States in our statements of income, balance sheet or statements of cash flows. Non-GAAP financial measures do not include operating and other statistical measures or ratios or statistical measures calculated using exclusively either financial measures calculated in accordance with GAAP, operating measures or other measures that are not non-GAAP financial measures or both.

The non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which Sandy Spring calculates the non-GAAP financial measures may differ from that of other companies reporting measures with similar names. You should understand how such other banking organizations calculate their financial measures similar or with names similar to the non-GAAP financial measures when comparing such non-GAAP financial measures. Sandy Spring believes these non-GAAP financial measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP; however, such non-GAAP financial measures have a number of limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other companies use. Please refer to the reconciliation of these non-GAAP financial measures to their most comparable GAAP measure in the appendix to this presentation.

From Here. For Here.

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Sandy Spring Bancorp, Inc.

Highlights (6/30/20)

$13.3 billion in total assets

$10.3 billion in total loans

$1.2 billion market capitalization (1)

$10.1 billion in deposits

Rated #1bank in Maryland by Forbes magazine (2)

#1community bank deposit market share with 59 branches across the Greater Washington, DC Metro Area (3)

Significant organic and acquisition growth opportunities throughout our markets

Strong asset quality

Conservative capital and liquidity management

Highly experienced management team

Founded in 1868, Sandy Spring Bank is one of the area's oldest and largest depository institutions

1)

Per S&P Global Market Intelligence as of August 12, 2020

2)

Per Forbes "Best Banks in Each State 2019 List"

4

4

From Here. For Here. 3)

Source: S&P Global Market Intelligence and Company documents; Deposit market share information shown for Washington, DC MSA; pro forma for Revere Bank

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This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Sandy Spring Bancorp Inc. published this content on 14 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2020 20:24:02 UTC

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Financials (USD)
Sales 2020 453 M - -
Net income 2020 66,5 M - -
Net Debt 2020 - - -
P/E ratio 2020 15,0x
Yield 2020 5,37%
Capitalization 1 058 M 1 058 M -
Capi. / Sales 2020 2,34x
Capi. / Sales 2021 2,30x
Nbr of Employees 1 163
Free-Float 97,1%
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Technical analysis trends SANDY SPRING BANCORP, INC.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 27,50 $
Last Close Price 22,34 $
Spread / Highest target 34,3%
Spread / Average Target 23,1%
Spread / Lowest Target 11,9%
EPS Revisions
Managers
NameTitle
Daniel J. Schrider President, CEO & Non-Independent Director
Robert L. Orndorff Independent Chairman
Philip J. Mantua Chief Financial Officer & Executive Vice President
John D. Sadowski Chief Information Officer & Executive VP
Craig A. Ruppert Independent Director
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