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Jun 30, 2024
Sandy Spring Q2 2024 Earnings Report
Sandy Spring Bancorp's second quarter earnings were reported, showing a net income of $22.8 million.
Key Takeaways
Sandy Spring Bancorp reported a net income of $22.8 million for the second quarter of 2024, an increase compared to the previous quarter. The increase was driven by growth in non-interest income and net interest income, along with a decrease in provision for credit losses. Total loans and deposits also saw increases during the quarter.
Net income for Q2 2024 was $22.8 million, or $0.51 per diluted common share.
Total assets increased by 1% to $14.0 billion as of June 30, 2024.
Total loans increased by 1% to $11.5 billion, with growth in AD&C and commercial business loans.
Deposits increased by 1% to $11.3 billion, driven by noninterest-bearing deposits.
Forward Guidance
Sandy Spring Bancorp intends to maintain its profitability trajectory throughout the balance of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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