Sandy Spring Bancorp, Inc. (SASR) Misses Q2 EPS by 11c

Sandy Spring Bancorp, Inc. (NASDAQ: SASR) reported Q2 EPS of $0.28, $0.11 worse than the analyst estimate of $0.39.

"Exclusive of the impact of the litigation expenses incurred during the second quarter, our pre-tax pre-provision income increased from the prior year. This core performance was evidenced in a stable margin, controlled expense growth and continued strength in our wealth management and card based businesses," said Daniel J. Schrider, President and Chief Executive Officer.

"Our underlying performance in the second quarter was also driven by the impact of balanced loan growth and the resulting increase in interest income. This more than offset the decline in mortgage banking revenues as originations were lower than prior year levels," said Schrider.

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

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