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Dec 31, 2024
Sandy Spring Q4 2024 Earnings Report
Reported a net loss due to a goodwill impairment charge, while core earnings increased driven by higher net interest and non-interest income.
Key Takeaways
Sandy Spring Bancorp reported a net loss of $39.5 million for Q4 2024, primarily due to a $54.4 million goodwill impairment charge. However, core earnings increased to $21.0 million, driven by higher net interest income and non-interest income.
Net loss of $39.5 million, or $0.87 per diluted common share, impacted by a $54.4 million goodwill impairment charge.
Core earnings were $21.0 million, or $0.47 per diluted common share, an increase from the previous quarter.
Net interest income grew by $4.7 million, or 6%, compared to the previous quarter.
Total assets decreased by 2% to $14.1 billion, mainly due to a reduction in FHLB advances.
Forward Guidance
Sandy Spring Bancorp's forward-looking statements are subject to significant risks and uncertainties that may cause actual results to differ materially from those in such statements.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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