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Dec 31, 2019
Sandy Spring Q4 2019 Earnings Report
Sandy Spring Bancorp achieved record annual earnings, reporting $28.5 million in net income for Q4 2019.
Key Takeaways
Sandy Spring Bancorp reported a net income of $28.5 million for the fourth quarter of 2019, compared to $25.6 million for the fourth quarter of 2018. The company's total assets amounted to $8.6 billion at the end of 2019, and total deposits reached $6.4 billion, marking a 9% increase from the previous year.
Net income for Q4 2019 was $28.5 million ($0.80 per diluted share), compared to $25.6 million ($0.72 per diluted share) for Q4 2018.
Total assets reached $8.6 billion at December 31, 2019, compared to $8.2 billion at December 31, 2018.
Total deposits increased to $6.4 billion at December 31, 2019, a 9% increase compared to $5.9 billion at the end of 2018.
Non-interest income increased by 37% to $19.2 million, driven by a 269% increase in income from mortgage banking activities.
Forward Guidance
Sandy Spring Bancorp did not provide specific forward guidance in the provided document. The document mentions strategic expansion through acquisitions and adjustments to strategies in response to the competitive market and interest rate environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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