Sandy Spring Q1 net income $20.4M ($0.45 EPS) vs $51.3M prior year; NIM 2.41%

SANDY SPRING BANCORP INC

2024-Q1 EPS reported $0.45

Net income $20.4M ($0.45 diluted EPS) vs $26.1M ($0.58) linked quarter and $51.3M ($1.14) year ago.
Core earnings $21.9M ($0.49 EPS); net interest income $79.3M, down 3% linked quarter.
Net interest margin 2.41% vs 2.45% prior quarter; provision for credit losses $2.4M vs credit of $3.4M.
Deposits grew $230.7M to $11.2B (+2%); non-performing loans ratio improved to 0.74% from 0.81%.
Tangible book value per share $26.61; common equity tier 1 ratio 10.96%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

SANDY SPRING BANCORP INC reported the quarter ended March 31, 2024 results: net income $20.4 million, EPS $0.45 per diluted common share.

Period: the quarter ended March 31, 2024
Net income: $20.4 million
EPS: $0.45 per diluted common share
Result: reported results

Exact text from the filing

reported net income of $20.4 million ($0.45 per diluted common share) for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0000824410-24-000014

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