Sandy Spring Bancorp, Inc. (SASR)

Sandy Spring Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	605.97	580.86	462.86	424.89	395.16	318.16
Interest Income on Investments	60.88	56.67	32.81	25.4	28.4	29.71
Total Interest Income	666.84	637.52	495.67	450.28	423.56	347.87
Interest Paid on Deposits	296.88	225.03	43.85	15.02	41.65	61.68
Interest Paid on Borrowings	47.23	57.95	24.81	10.74	18.75	20.88
Total Interest Expense	344.11	282.97	68.66	25.77	60.4	82.56
Net Interest Income	322.74	354.55	427	424.52	363.16	265.31
Net Interest Income Growth (YoY)	-14.96%	-16.97%	0.59%	16.90%	36.88%	1.87%
Trust Income	40.37	36.63	35.77	36.84	30.57	22.67
Mortgage Banking Activities	5.32	5.54	6.13	24.51	40.06	14.71
Gain (Loss) on Sale of Assets	-	-	16.52	-	-	-
Gain (Loss) on Sale of Investments	-	-	-0.35	0.21	0.47	0.08
Other Non-Interest Income	17.03	14.46	19.14	32.25	24.56	23.57
Total Non-Interest Income	74.23	67.08	87.02	102.06	102.72	70.72
Non-Interest Income Growth (YoY)	14.52%	-22.92%	-14.73%	-0.64%	45.24%	18.96%
Revenues Before Loan Losses	396.97	421.63	514.02	526.57	465.88	336.03
Provision for Loan Losses	6.28	-17.56	34.37	-45.56	85.67	4.68
Revenue	390.69	439.19	479.65	572.13	380.21	331.35
Revenue Growth (YoY)	-12.72%	-8.44%	-16.16%	50.48%	14.75%	6.59%
Salaries and Employee Benefits	143.69	152.56	150.62	150.53	130.62	100.91
Federal Deposit Insurance	11.25	9.46	4.79	4.29	4.73	2.26
Amortization of Goodwill & Intangibles	7.93	5.22	5.81	6.6	6.22	1.95
Selling, General & Administrative	80.87	76.36	66.49	64.61	58.44	52.23
Other Non-Interest Expense	32.45	31.45	28.52	25.28	24.68	20.43
Total Non-Interest Expense	276.19	275.05	256.23	251.31	224.68	177.77
EBT Excluding Unusual Items	114.5	164.14	223.43	320.82	155.53	153.57
Other Unusual Items	-	-	-	-9.12	-5.93	-
Pretax Income	114.5	164.14	222.36	311.66	124.42	152.86
Income Tax Expense	29.01	41.29	56.06	76.55	27.47	36.43
Net Income	85.49	122.84	166.3	235.11	96.95	116.43
Preferred Dividends & Other Adjustments	0.07	0.22	0.68	1.51	0.78	0.76
Net Income to Common	85.42	122.62	165.62	233.6	96.17	115.67
Net Income Growth	-34.60%	-26.13%	-29.27%	142.50%	-16.73%	15.44%
Basic Shares Outstanding	45	45	45	47	44	36
Diluted Shares Outstanding	45	45	45	47	44	36
Shares Change (YoY)	0.51%	-0.20%	-3.97%	6.27%	23.90%	0.27%
EPS (Basic)	1.90	2.74	3.69	5.00	2.19	3.25
EPS (Diluted)	1.89	2.73	3.68	4.98	2.18	3.25
EPS Growth	-35.03%	-25.82%	-26.10%	128.44%	-32.92%	15.25%
Dividend Per Share	1.360	1.360	1.360	1.280	1.200	1.180
Dividend Growth	0%	0%	6.25%	6.67%	1.69%	7.27%
Effective Tax Rate	25.34%	25.16%	25.21%	24.56%	22.08%	23.83%

Source: S&P Capital IQ. Banks template. Financial Sources.