Sandy Spring Bancorp: 2Q Earnings Snapshot

OLNEY, Md. (AP) _ Sandy Spring Bancorp Inc. (SASR) on Thursday reported a second-quarter loss of $14.3 million, after reporting a profit in the same period a year earlier.

The Olney, Maryland-based bank said it had a loss of 31 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 15 cents per share.

The holding company for Sandy Spring Bank posted revenue of $137.9 million in the period. Its revenue net of interest expense was $124.4 million, topping Street forecasts.

Sandy Spring Bancorp shares have dropped 38% since the beginning of the year. The stock has declined 34% in the last 12 months.

Advertisement

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SASR at https://www.zacks.com/ap/SASR

Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.