Sandy Spring Bancorp (SASR) Tops Q3 EPS by 23c

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Go back to Sandy Spring Bancorp (SASR) Tops Q3 EPS by 23c

Sandy Spring Bancorp Reports Record Quarterly Earnings of $44.6 Million

October 22, 2020 7:00 AM EDT

OLNEY, Md., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc., (Nasdaq-SASR), the parent company of Sandy Spring Bank, today reported record net income of $44.6 million ($0.94 per diluted common share) for the third quarter of 2020. The current quarters result compares to net income of $29.4 million ($0.82 per diluted common share) for the third quarter of 2019 and a loss of $14.3 million ($0.31 per diluted common share) for the second quarter of 2020.

Operating earnings for the current quarter, which excludes the impact of merger and acquisition expense, the provision for credit losses and the effects from the Paycheck Protection... More