secwatch.observer — SEC 8-K summary
======================================

Issuer:     SANDY SPRING BANCORP INC (—)
CIK:        0000824410
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000824410-24-000014
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/824410/000082441024000014/0000824410-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/824410/000082441024000014/sasr-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000824410-24-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer