Sandy Spring Bancorp (SASR) Misses Q1 EPS by 8c

Sandy Spring Bancorp (NASDAQ: SASR) reported Q1 EPS of $0.28, $0.08 worse than the analyst estimate of $0.36.

“We entered the year in a position of strength after delivering a record year and preparing to expand our market presence with the acquisitions of Rembert Pendleton Jackson and Revere Bank,” said Daniel J. Schrider, President and Chief Executive Officer of Sandy Spring Bank. “Like individuals, families and businesses everywhere, we too had to quickly respond to the unprecedented public health and economic events that began to unfold late in the first quarter. We seamlessly implemented our contingency plans in order to protect the health of our employees, clients, and business and community partners. And while we have made many changes to how and where we all work, we have maintained the continuity of our client service and critical operations. I am grateful to our dedicated team of bankers for making this happen.”

“Our clients are facing a great deal of uncertainty right now, and we are committed to seeing them through this difficult time,” added Schrider. “From helping clients access federal relief programs, to working with individuals and business owners on a case-by-case basis, we are doing all that we can to connect our clients with the financial help they need.”

“We are pleased that RPJ and Revere Bank are now officially part of Sandy Spring Bank. As we continue to come together as a company, we are focused on upholding the tradition of community banking, providing remarkable service, and being the advocate that our clients need now more than ever.”

For earnings history and earnings-related data on Sandy Spring Bancorp (SASR) click here.

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