---
schema_version: "secwatch.filing_event.v1"
accession: "0000824410-24-000014"
form_type: "8-K"
ticker: null
cik: "0000824410"
company_name: "SANDY SPRING BANCORP INC"
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T13:06:03.152745+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0000824410-24-000014
- form_type: 8-K
- cik: 0000824410
- company_name: SANDY SPRING BANCORP INC
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/824410/000082441024000014/0000824410-24-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/824410/000082441024000014/sasr-20240423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000824410-24-000014
- JSON: https://secwatch.observer/filing/0000824410-24-000014.json
- Plain text: https://secwatch.observer/filing/0000824410-24-000014.txt

## Key facts
- Earnings Releases
  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
  source text: reported net income of $20.4 million ($0.45 per diluted common share) for the quarter ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/824410/000082441024000014/0000824410-24-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.