Sandy Spring Bancorp Reports Record Net Income of $44.4 Million for Full Year

Sandy Spring Bancorp Reports Record Net Income of $44.4 Million for Full Year

OLNEY, Md., Jan. 23, 2014 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc.,
(Nasdaq:SASR) the parent company of Sandy Spring Bank, today reported net
income for the fourth quarter of 2013 of $9.6 million ($0.38 per diluted
share) compared to net income of $9.9 million ($0.40 per diluted share) for
the fourth quarter of 2012 and net income of $12.1 million ($0.48 per diluted
share) for the third quarter of 2013.

Net income for the year ended December 31, 2013 totaled $44.4 million ($1.77
per diluted share) compared to net income of $36.6 million ($1.48 per diluted
share) for the prior year, an increase of 22%.

"We are confident in our ability to produce consistent and quality investor
returns in this marketplace as demonstrated by our record earnings for the
year, which were driven largely by growth in the loan portfolio and our
growing wealth management and insurance operations. This is noteworthy
considering the effect of historically low interest rates on the net interest
margin and the related reduction in both mortgage origination volumes and
mortgage banking income from the sales of such loans," said Daniel J.
Schrider, President and Chief Executive Officer.

"Our results were also positively benefited by the continued improvement in
our credit metrics due to the resolution of previously non-performing loans
and lower loan charge-offs, and also by very disciplined control of our
funding costs," said Schrider.

Fourth Quarter Highlights:

  *Total loans increased 10% compared to the fourth quarter of 2012 and 5%
    compared to the third quarter of 2013 due to organic loan growth in the
    residential mortgage, commercial investor real estate, commercial owner
    occupied real estate and consumer loan portfolios.
  *The provision for loan and lease losses for the fourth quarter of 2013 was
    a charge of $0.6 million compared to a charge of $1.2 million for the
    fourth quarter of 2012 and a charge of $1.1 million for the third quarter
    of 2013.
  *Non-performing loans totaled $40.0 million at December 31, 2013 compared
    to $57.9 million at December 31, 2012 and $38.3 million at September 30,
    2013. The coverage ratio of the allowance for loan and lease losses to
    non-performing loans was 97% at December 31, 2013 compared to a coverage
    ratio of 74% at December 31, 2012 and 103% at September 30, 2013.
  *The net interest margin was 3.53% for the fourth quarter of 2013, compared
    to 3.53% for the fourth quarter of 2012 and 3.88% for the third quarter of
    2013. Excluding the effect of interest recoveries in the third quarter on
    two previously non-performing loans, the net interest margin would have
    been 3.49% for the third quarter.
  *Non-interest income decreased 5% for the quarter compared to the prior
    year quarter due primarily to the decline in income from mortgage banking
    caused by a significantly lower volume of saleable mortgage loan
    originations. Compared to the third quarter, non-interest income increased
    4% due to an increase in mortgage banking income as volumes stabilized.

Review of Balance Sheet and Credit Quality

Total assets increased 4% to $4.1 billion at December 31, 2013 as compared to
December 31, 2012. Total loans and leases increased 10% to $2.8 billion
compared to the prior year due primarily to the growth in the residential
mortgage, commercial investor real estate, commercial owner occupied real
estate and consumer loan portfolios.

Customer funding sources, which include deposits and other short-term
borrowings from customers, decreased 1% compared to December 31, 2012.
Certificates of deposit declined 11% while combined noninterest-bearing and
interest-bearing checking account balances increased 2% compared to the prior
year-end. The Company considers the growth in checking accounts to be an
important performance metric as such accounts typically are the primary
drivers of growth in multiple product banking relationships with clients. FHLB
advances increased 52% at December 31, 2013 compared to balances at December
31, 2012, as the Company managed its funding mix to take advantage of current
low interest rates to maintain the net interest margin.

Tangible common equity totaled $416.8 million at December 31, 2013 compared to
$384.2 million at December 31, 2012, resulting in an increase in the ratio of
tangible common equity to tangible assets to 10.37% at December 31, 2013 from
9.94% at December 31, 2012. The increase in tangible common equity was due
primarily to net income earned during the period. At December 31, 2013, the
Company had a total risk-based capital ratio of 15.65%, a tier 1 risk-based
capital ratio of 14.42% and a tier 1 leverage ratio of 11.32%.

Non-performing loans totaled $40.0 million at December 31, 2013 compared to
$57.9 million at December 31, 2012 and $38.3 million at September 30, 2013.
Overall credit quality was maintained due to the proactive management and
resolution of problem credits.

Loan charge-offs, net of recoveries, totaled $1.2 million for the fourth
quarter of 2013 compared to net charge-offs of $0.8 million for the fourth
quarter of 2012 and net charge-offs of $0.7 million for the third quarter of
2013. The increase in net charge-offs in the quarter was the product of
aggressive management of previously existing problem credits. The allowance
for loan and lease losses represented 1.39% of outstanding loans and leases
and 97% of non-performing loans at December 31, 2013 compared to 1.70% of
outstanding loans and leases and 74% of non-performing loans at December 31,
2012. Non-performing loans includes accruing loans 90 days or more past due
and restructured loans.

Income Statement Review

Net interest income for the fourth quarter of 2013 increased 5% compared to
the fourth quarter of 2012. The resulting increase was due to an increase in
average interest-earning assets and lower funding costs, that somewhat offset
the decline in asset yields. The Company's funding costs declined due to a
lower cost deposit mix and the restructuring of $170 million in Federal Home
Loan Bank advances during the fourth quarter of 2012 and the first six months
of 2013. The net interest margin remained level at 3.53% for the fourth
quarter of 2013 compared to 3.53% for the fourth quarter of 2012 as the
decline in asset yields was offset by a higher amount of interest-earning
assets.

The provision for loan and lease losses was a charge of $0.6 million for the
fourth quarter of 2013 compared to a charge of $1.2 million for the fourth
quarter of 2012 and a charge of $1.1 million for the third quarter of 2013.
This decrease in the provision compared to the fourth quarter of 2012 and the
third quarter of 2013 was due primarily to lower historical losses and
improved credit metrics, that more than offset the effect of loan growth
during the quarter.

Non-interest income decreased 5% to $11.7 million for the fourth quarter of
2013 compared to $12.2 million for the fourth quarter of 2012. This decrease
was driven by a reduction in mortgage banking income due primarily to lower
mortgage origination volumes and a decline in client refinancing activity.
This decrease was somewhat offset by a 13% increase in wealth management
income due to higher assets under management. In addition, other non-interest
income increased 34% due to gains recognized on sales of SBA loans and fixed
assets.

Non-interest expenses increased 8% to $29.3 million for the fourth quarter of
2013 compared to $27.2 million in the fourth quarter of 2012. This increase
was driven primarily by higher salaries and benefits expenses and the
recognition of $0.8 million in expenses during the quarter for the planned
2014 closing of three branches. The non-GAAP efficiency ratio was 63.62% for
the fourth quarter of 2013 compared to 60.54% for the fourth quarter of 2012.

Net interest income for the year ended December 31, 2013 increased 7% compared
to the prior year while the net interest margin increased to 3.63% for 2013
compared to 3.60% in 2012. The increase in net interest income and the net
interest margin were due primarily to the factors cited previously with
respect to the fourth quarter of 2013 together with the recognition in the
third quarter of 2013 of $3.7 million in interest recoveries on loans
previously charged-off. Excluding the effect of these interest recoveries, the
net interest margin would have been 3.53% for 2013.

The provision for loan and lease losses was a credit of $1.1 million for the
year ended December 31, 2013 compared to a charge of $3.6 million for the year
ended December 31, 2012. The decrease in the provision for the year was due
primarily to a decline in historical losses and a lower migration of new
problem loans into non-performing status.

Non-interest income increased 1% to $47.5 million for 2013 compared to $47.0
million for 2012. This increase was driven by a 10% increase in wealth
management income due to higher assets under management. Insurance agency
commissions increased 7% due to higher revenues on whole life insurance and
physicians' liability lines. Other non-interest income increased 42% due to
sales and dispositions of loans and fixed assets and a non-recurring legal
settlement. These increases were partially offset by a 49% decrease in
mortgage banking income caused by declining mortgage origination volumes.

Non-interest expenses increased 1% to $111.5 million for 2013 compared to
$109.9 million for 2012. This increase was driven by an increase in salaries
and benefits expenses due to additional staff and higher sales incentive
compensation. Occupancy expenses also increased due to the recognition of
expenses in the fourth quarter for the planned 2014 closing of three branches.
These increases were somewhat offset by decreases in outside data services due
to merger expenses incurred from the CommerceFirst acquisition in 2012. Other
non-interest expenses also decreased in 2013 due to the lack of merger
expenses and the recovery of expenses from the resolution of problem loan
credits. The non-GAAP efficiency ratio improved to 60.06% for 2013 compared to
60.94% for 2012.

Conference Call

The Company's management will host a conference call to discuss its fourth
quarter results today at 2:00 P.M. (ET). A live Web cast of the conference
call is available through the Investor Relations' section of the Sandy Spring
Web site at www.sandyspringbank.com. Participants may call 1-888-317-6016. A
password is not necessary. Visitors to the Web site are advised to log on 10
minutes ahead of the scheduled start of the call. An internet-based replay
will be available at the Web site until 9:00 am (ET) February 21, 2014. A
replay of the teleconference will be available through the same time period by
calling 1-877-344-7529 under conference call number 10038886.

About Sandy Spring Bancorp, Inc.

With $4.1 billion in assets, Sandy Spring Bancorp, Inc. is the holding company
for Sandy Spring Bank and its principal subsidiaries, Sandy Spring Insurance
Corporation and West Financial Services, Inc. Sandy Spring Bancorp is the
largest publicly traded banking company headquartered and operating in
Maryland. Sandy Spring is a community banking organization that focuses its
lending and other services on businesses and consumers in the local market
area. Independent and community-oriented, Sandy Spring Bank was founded in
1868 and offers a broad range of commercial banking, retail banking and trust
services through 49 community offices in Anne Arundel, Carroll, Frederick,
Howard, Montgomery, and Prince George's counties in Maryland, and Arlington,
Fairfax and Loudoun counties in Virginia. Through its subsidiaries, Sandy
Spring Bank also offers a comprehensive menu of insurance and investment
management services. Visit www.sandyspringbank.com for more information about
Sandy Spring Bank.

Forward-Looking Statements

Sandy Spring Bancorp makes forward-looking statements in this news release and
in the conference call regarding this news release. These forward-looking
statements may include: statements of goals, intentions, earnings
expectations, and other expectations; estimates of risks and of future costs
and benefits; assessments of probable loan and lease losses; assessments of
market risk; and statements of the ability to achieve financial and other
goals.

Forward-looking statements are typically identified by words such as
"believe," "expect," "anticipate," "intend," "outlook," "estimate,"
"forecast," "project" and other similar words and expressions. Forward-looking
statements are subject to numerous assumptions, risks and uncertainties, which
change over time. Forward-looking statements speak only as of the date they
are made. Sandy Spring Bancorp does not assume any duty and does not undertake
to update its forward-looking statements.Because forward-looking statements
are subject to assumptions and uncertainties, actual results or future events
could differ, possibly materially, from those that Sandy Spring Bancorp
anticipated in its forward-looking statements and future results could differ
materially from historical performance.

Sandy Spring Bancorp's forward-looking statements are subject to the following
principal risks and uncertainties: general economic conditions and trends,
either nationally or locally; conditions in the securities markets; changes in
interest rates; changes in deposit flows, and in the demand for deposit, loan,
and investment products and other financial services; changes in real estate
values; changes in the quality or composition of the Company's loan or
investment portfolios; changes in competitive pressures among financial
institutions or from non-financial institutions; the Company's ability to
retain key members of management; changes in legislation, regulations, and
policies; and a variety of other matters which, by their nature, are subject
to significant uncertainties.Sandy Spring Bancorp provides greater detail
regarding some of these factors in its Form 10-K for the year ended December
31, 2012, including in the Risk Factors section of that report, and in its
other SEC reports.Sandy Spring Bancorp's forward-looking statements may also
be subject to other risks and uncertainties, including those that it may
discuss elsewhere in this news release or in its filings with the SEC,
accessible on the SEC's Web site at www.sec.gov.

Sandy Spring Bancorp, Inc. and Subsidiaries
FINANCIAL HIGHLIGHTS - UNAUDITED
                                                                    
                Three Months Ended             Twelve Months Ended      
                December 31,             %      December 31,             %
(Dollars in
thousands,       2013        2012         Change 2013        2012         Change
except per share
data)
Results of                                                           
Operations:
Net interest     $32,350   $30,920    5%     $129,914  $121,219   7%
income
Provision for
loan and lease   586        1,168        (50)   (1,084)     3,649        (130)
losses
Non-interest     11,654     12,247      (5)    47,511     46,956      1
income
Non-interest     29,300     27,219      8      111,524    109,927     1
expenses
Income before    14,118     14,780      (4)    66,985     54,599      23
income taxes
Net income      9,613      9,881       (3)    44,422     36,554      22
                                                                    
Pre-tax
pre-provision    $14,704   $15,740    (7)    $65,901   $60,748    8
pre-merger
expense income
                                                                    
Return on        0.93%      1.01%             1.11%      0.97%       
average assets
Return on
average common   7.71%      8.14%             9.11%      7.85%       
equity
Net interest     3.53%      3.53%             3.63%      3.60%       
margin
Efficiency ratio 66.59%     63.06%            62.86%     65.36%      
- GAAP basis(1)
Efficiency ratio
- Non-GAAP       63.62%     60.54%            60.06%     60.94%      
basis(1)
                                                                    
Per share data:                                                      
Basic net income $0.38     $0.40      (5)%   $1.78     $1.49      19%
Diluted net      $0.38     $0.40      (5)    $1.77     $1.48      20
income
Average fully    25,108,109 24,971,249  1      25,075,014 24,657,149  2
diluted shares
Dividends
declared per     $0.18     $0.14      29     $0.64     $0.48      33
share
Book value per   19.98      19.41        3      19.98      19.41        3
share
Tangible book    16.68      15.43        8      16.68      15.43        8
value per share
Outstanding      24,990,021 24,905,392  --   24,990,021 24,905,392  --
shares
                                                                    
Financial
Condition at                                                         
period-end:
Investment       $1,016,609 $1,075,032 (5)%   $1,016,609 $1,075,032 (5)%
securities
Loans and leases 2,784,266  2,531,128   10     2,784,266  2,531,128   10
Interest-earning 3,836,912  3,669,175   5      3,836,912  3,669,175   5
assets
Assets           4,106,100  3,955,206   4      4,106,100  3,955,206   4
Deposits         2,877,225  2,913,034   (1)    2,877,225  2,913,034   (1)
Interest-bearing 2,744,869  2,592,606   6      2,744,869  2,592,606   6
liabilities
Stockholders'    499,363    483,512     3      499,363    483,512     3
equity
                                                                    
Capital ratios:                                                      
Tier 1 leverage 11.32%     10.98%             11.32%     10.98%      
Tier 1 capital
to risk-weighted 14.42%     14.15%             14.42%     14.15%      
assets
Total regulatory
capital to       15.65%     15.40%             15.65%     15.40%      
risk-weighted
assets
Tangible common
equity to        10.37%     9.94%              10.37%     9.94%       
tangible
assets(2)
Average equity
to average       12.12%     12.35%             12.17%     12.32%      
assets
                                                                    
Credit quality                                                       
ratios:
Allowance for
loan and lease   1.39%      1.70%             1.39%      1.70%       
losses to loans
and leases
Non-performing
loans to total   1.44%      2.29%             1.44%      2.29%       
loans
Non-performing
assets to total  1.01%      1.61%             1.01%      1.61%       
assets
Allowance for
loan and lease
losses to        96.83%     74.18%            96.83%     74.18%      
non-performing
loans
Annualized net
charge-offs to   0.18%      0.13%             0.12%      0.42%       
average loans
and leases(3)
                                                                    
(1) The efficiency ratio - GAAP basis is non-interest expenses divided by net
interest income plus non-interest income from the Condensed Consolidated
Statements of Income. The traditional efficiency ratio - non-GAAP basis excludes
intangible asset amortization and merger expenses from non-interest expense;
securities gains (losses) from non-interest income; OTTI; and the tax-equivalent
adjustment to net interest income.See the Reconciliation Table included with
these Financial Highlights.
(2) The tangible common equity to tangible assets ratio is a non-GAAP ratio that
divides assets excluding intangible assets into stockholders' equity after
deducting intangible assets and other comprehensive gains (losses).See the
Reconciliation Table included with these Financial Highlights.
(3) Calculation utilizes average loans and leases, excluding residential
mortgage loans held-for-sale.


Sandy Spring Bancorp, Inc. and Subsidiaries
RECONCILIATION TABLE - UNAUDITED

                          Three Months Ended        Twelve Months Ended
                          December 31,              December 31,
(Dollars in thousands)     2013         2012         2013         2012
Pre-tax pre-provision                                          
pre-merger expense income:
Net income                 $9,613     $9,881     $44,422    $36,554
Plus non-GAAP adjustment:                                      
Merger expenses            --          (208)       --          2,500
Income taxes               4,505       4,899       22,563      18,045
Provision for loan and     586         1,168       (1,084)     3,649
lease losses
Pre-tax pre-provision      $14,704    $15,740    $65,901    $60,748
pre-merger expense income
                                                              
Efficiency ratio - GAAP                                        
basis:
Non-interest expenses     $29,300    $27,219    $111,524   $109,927
                                                              
Net interest income plus   $44,004    $43,167    $177,425   $168,175
non-interest income
                                                              
Efficiency ratio - GAAP    66.59%       63.06%       62.86%       65.36%
basis
                                                              
                                                              
Efficiency ratio -                                             
Non-GAAP basis:
Non-interest expenses     $29,300    $27,219    $111,524   $109,927
Less non-GAAP adjustment:                                      
Amortization of intangible 461         478         1,845       1,881
assets
Merger expenses            --          (208)       --          2,500
Non-interest expenses      $28,839    $26,949    $109,679   $105,546
--as adjusted
                                                              
Net interest income plus   $44,004    $43,167    $177,425   $168,175
non-interest income
Plus non-GAAP adjustment:                                      
Tax-equivalent income      1,325       1,334       5,292       5,374
Less non-GAAP adjustments:                                     
Securities gains           (3)         --          115         459
OTTI recognized in         --          (14)        --          (109)
earnings
Net interest income plus
non-interest income - as   $45,332    $44,515    $182,602   $173,199
adjusted
                                                              
Efficiency ratio -         63.62%       60.54%       60.06%       60.94%
Non-GAAP basis
                                                              
Tangible common equity                                         
ratio:
Total stockholders' equity $499,363   $483,512   $499,363   $483,512
Accumulated other
comprehensive (income)     2,970       (11,312)    2,970       (11,312)
loss
Goodwill                   (84,171)    (84,808)    (84,171)    (84,808)
Other intangible assets,   (1,330)     (3,163)     (1,330)     (3,163)
net
Tangible common equity     $416,832   $384,229   $416,832   $384,229
                                                              
Total assets               $ 4,106,100 $3,955,206 $ 4,106,100 $3,955,206
Goodwill                   (84,171)    (84,808)    (84,171)    (84,808)
Other intangible assets,   (1,330)     (3,163)     (1,330)     (3,163)
net
Tangible assets            $ 4,020,599 $3,867,235 $ 4,020,599 $3,867,235
                                                              
Tangible common equity     10.37%       9.94%        10.37%       9.94%
ratio
                                                              
Outstanding common shares  24,990,021  24,905,392  24,990,021  24,905,392
Tangible book value per    $16.68     $15.43     $16.68     $15.43
common share



Sandy Spring Bancorp, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF CONDITION- UNAUDITED
                                                                
                                                    December 31, December 31,
(Dollars in thousands)                               2013         2012
Assets                                                           
Cash and due from banks                              $46,755    $59,540
Federal funds sold                                   475         466
Interest-bearing deposits with banks                 27,197      26,400
Cash and cash equivalents                            74,427      86,406
Residential mortgage loans held for sale (at fair    8,365       36,149
value)
Investments available-for-sale (at fair value)       751,284     825,582
Investments held-to-maturity --- fair value of
$216,007 and $222,024 at December 31, 2013 and 2012, 224,638     215,814
respectively
Other equity securities                              40,687      33,636
Total loans and leases                               2,784,266   2,531,128
Less: allowance for loan and lease losses            (38,766)    (42,957)
Net loans and leases                                 2,745,500   2,488,171
Premises and equipment, net                          45,916      48,326
Other real estate owned                              1,338       5,926
Accrued interest receivable                          12,532      12,392
Goodwill                                             84,171      84,808
Other intangible assets, net                        1,330       3,163
Other assets                                         115,912     114,833
Total assets                                         $4,106,100 $3,955,206
                                                                
Liabilities                                                      
Noninterest-bearing deposits                         $836,198   $847,415
Interest-bearing deposits                            2,041,027   2,065,619
Total deposits                                       2,877,225   2,913,034
Securities sold under retail repurchase agreements   53,842      86,929
and federal funds purchased
Advances from FHLB                                   615,000     405,058
Subordinated debentures                              35,000      35,000
Accrued interest payable and other liabilities       25,670      31,673
Total liabilities                                    3,606,737   3,471,694
                                                                
Stockholders' Equity                                             
Common stock -- par value $1.00; shares authorized
50,000,000;
shares issued and outstanding 24,990,021 and         24,990      24,905
24,905,392 at December 31, 2013 and 2012,
respectively
Additional paid in capital                           193,445     191,689
Retained earnings                                    283,898     255,606
Accumulated other comprehensive income (loss)        (2,970)     11,312
Total stockholders' equity                           499,363     483,512
Total liabilities and stockholders' equity           $4,106,100 $3,955,206



Sandy Spring Bancorp, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED
                                                                
                                    Three Months Ended  Twelve Months Ended
                                    December 31,        December 31,
(Dollars in thousands, except per    2013      2012      2013       2012
share data)
Interest Income:                                                 
Interest and fees on loans and       $30,443 $29,410 $ 122,380 $115,574
leases
Interest on loans held for sale      91       254      929       841
Interest on deposits with banks      19       28       84        111
Interest and dividends on investment                             
securities:
Taxable                              4,224    4,142    16,635    17,951
Exempt from federal income taxes     2,331    2,368    9,318     9,392
Interest on federal funds sold       1        --       1         1
Total interest income                37,109   36,202   149,347   143,870
Interest Expense:                                                
Interest on deposits                 1,230    1,650    5,439     7,357
Interest on retail repurchase
agreements and federal funds         37       46       163       204
purchased
Interest on advances from FHLB       3,269    3,359    12,936    14,131
Interest on subordinated debt        223      227      895       959
Total interest expense               4,759    5,282    19,433    22,651
Net interest income                  32,350   30,920   129,914   121,219
Provision (credit) for loan and      586      1,168    (1,084)   3,649
lease losses
Net interest income after provision  31,764   29,752   130,998   117,570
for loan and lease losses
Non-interest Income:                                             
Investment securities gains (losses) (3)      --       115       459
Total other-than-temporary           --       (14)     --        (109)
impairment ("OTTI") losses
Portion of OTTI losses recognized in
other comprehensive income, before   --       --       --        --
taxes
Net OTTI recognized in earnings      --       (14)     --        (109)
Service charges on deposit accounts  2,143    2,197    8,533     8,910
Mortgage banking activities          356      1,738    3,094     6,032
Wealth management income             4,508    4,000    17,585    15,949
Insurance agency commissions         1,243    1,334    4,821     4,490
Income from bank owned life          635      662      2,499     2,616
insurance
Visa check fees                      1,052    1,043    4,165     3,887
Other income                         1,720    1,287    6,699     4,722
Total non-interest income            11,654   12,247   47,511    46,956
Non-interest Expenses:                                           
Salaries and employee benefits       16,707   15,405   65,598    62,509
Occupancy expense of premises        3,844    3,115    13,171    12,010
Equipment expenses                   1,264    1,189    4,940     4,871
Marketing                            897      827      2,880     2,651
Outside data services                1,162    836      4,580     5,019
FDIC insurance                       445      601      2,300     2,573
Amortization of intangible assets    461      478      1,845     1,881
Other expenses                       4,520    4,768    16,210    18,413
Total non-interest expenses          29,300   27,219   111,524   109,927
Income before income taxes           14,118   14,780   66,985    54,599
Income tax expense                   4,505    4,899    22,563    18,045
Net income                           $9,613  $9,881  $44,422  $36,554
                                                                
Net Income Per Share Amounts:                                    
Basic net income per share           $0.38   $0.40   $1.78    $1.49
Diluted net income per share         $0.38   $0.40   $1.77    $1.48
Dividends declared per share         $0.18   $0.14   $0.64    $0.48



Sandy Spring Bancorp, Inc. and Subsidiaries
HISTORICAL TRENDS - QUARTERLY FINANCIAL DATA - UNAUDITED
                                                                                    
              2013                                        2012
(Dollars in
thousands,     Q4         Q3         Q2         Q1         Q4         Q3         Q2         Q1
except per
share data)
Profitability
for the                                                                              
quarter:
Tax-equivalent
interest       $38,434  $41,524  $37,091  $37,590  $37,536  $38,819  $36,898  $35,991
income
Interest       4,759     4,874     4,847     4,953     5,282     5,710      5,749      5,910
expense
Tax-equivalent
net interest   33,675    36,650    32,244    32,637    32,254    33,109     31,149     30,081
income
Tax-equivalent 1,325     1,344     1,312     1,311     1,334     1,324      1,340      1,376
adjustment
Provision for
loan and lease 586       1,128     (2,876)   78        1,168     232        1,585      664
losses
Non-interest   11,654    11,223    12,215    12,419    12,247    12,242     11,493     10,974
income
Non-interest   29,300    26,893    27,508    27,823    27,219    27,167     28,858     26,683
expenses
Income before  14,118    18,508    18,515    15,844    14,780    16,628     10,859     12,332
income taxes
Income tax     4,505     6,419     6,353     5,286     4,899     5,638      3,652      3,856
expense
Net income    $9,613   $12,089  $12,162  $10,558  $9,881   $10,990  $7,207   $8,476
Financial                                                                            
performance:
Pre-tax
pre-provision  $14,704  $19,636  $15,639  $15,922  $15,740  $16,996  $14,642  $13,370
pre-merger
expense income
Return on      0.93%      1.19%      1.23%      1.08%      1.01%      1.13%      0.78%      0.94%
average assets
Return on
average common 7.71%      9.91%      9.98%      8.85%      8.14%      9.22%      6.34%      7.60%
equity
Net interest   3.53%      3.88%      3.51%      3.59%      3.53%      3.67%      3.62%      3.56%
margin
Efficiency
ratio - GAAP   66.59%     57.80%     63.75%     63.60%     63.06%     61.70%     69.87%     67.25%
basis (1)
Efficiency
ratio -        63.62%     55.21%     60.92%     60.80%     60.54%     58.91%     61.54%     62.97%
Non-GAAP basis
(1)
Per share                                                                            
data:
Basic net
income per     $0.38    $0.48    $0.49    $0.42    $0.40    $0.44    $0.30    $0.35
share
Diluted net
income per     $0.38    $0.48    $0.49    $0.42    $0.40    $0.44    $0.30    $0.35
share
Average fully  25,108,109 25,070,506 25,009,092 25,002,612 24,971,249 24,949,205 24,423,236 24,180,501
diluted shares
Dividends
declared per   $0.18    $0.16    $0.16    $0.14    $0.14    $0.12    $0.12    $0.10
common share
Non-interest                                                                         
income:
Securities     $(3)     $--      $62      $56      $--      $296     $90      $73
gains (losses)
Net OTTI
recognized in  --        --        --        --        (14)      (23)      (8)       (64)
earnings
Service
charges on     2,143     2,171     2,150     2,069     2,197     2,230      2,283      2,200
deposit
accounts
Mortgage
banking        356       (26)      1,237     1,527     1,738     1,981      1,288      1,025
activities
Wealth
management     4,508     4,503     4,532     4,042     4,000     3,858      4,034      4,057
income
Insurance
agency         1,243     1,193     1,036     1,349     1,334     1,020      934        1,202
commissions
Income from
bank owned     635       629       623       612       662       660        660        634
life insurance
Visa check     1,052     1,077     1,079     957       1,043     984        962        898
fees
Other income   1,720     1,676     1,496     1,807     1,287     1,236      1,250      949
Total
non-interest   $11,654  $11,223  $12,215  $12,419  $12,247  $12,242  $11,493  $10,974
income
Non-interest                                                                         
expense:
Salaries and
employee       $16,707  $16,382  $16,163  $16,346  $15,405  $15,476  $15,927  $15,701
benefits
Occupancy
expense of     3,844     3,149     2,996     3,182     3,115     3,106     2,943     2,846
premises
Equipment      1,264     1,200     1,227     1,249     1,189     1,237     1,255     1,190
expenses
Marketing      897       713       755       515       827       764       565       495
Outside data   1,162     1,152     1,114     1,152     836       1,076     1,828     1,279
services
FDIC insurance 445       678       581       596       601       667       653       652
Amortization
of intangible  461       462       461       461       478       476       466       461
assets
Professional   1,386     511       1,332      1,250      1,584      1,282      2,156      1,287
fees
Other real
estate owned   91        (150)     (281)      37         316        174        351        64
expenses
Other expenses 3,043     2,796     3,160      3,035      2,868      2,909      2,714      2,708
Total
non-interest   $29,300  $26,893  $27,508  $27,823  $27,219  $27,167  $28,858  $26,683
expense
                                                                                    
(1) The efficiency ratio - GAAP basis is non-interest expenses divided by net interest income plus
non-interest income from the Condensed Consolidated Statements of Income. The traditional, efficiency
ratio - non-GAAP basis excludes intangible asset amortization and merger expenses from non-interest
expense; excludes securities gains; OTTI losses from non-interest income; and adds the tax-equivalent
adjustment to net interest income.See the Reconciliation Table included with these Financial
Highlights.
                                                                                           
                                                                                          

Sandy Spring Bancorp, Inc. and Subsidiaries
HISTORICAL TRENDS - QUARTERLY FINANCIAL DATA - UNAUDITED
                                                                                                
                   2013                                            2012
(Dollars in         Q4          Q3          Q2          Q1          Q4          Q3          Q2          Q1
thousands)
Balance sheets at                                                                                
quarter end:
Residential         $618,381  $595,180  $565,282  $538,346  $523,364  $499,806  $472,426  $465,204
mortgage loans
Residential         129,177     118,316     116,736     122,698     120,314     128,606     130,791     122,841
construction loans
Commercial ADC      160,696     158,739     163,309     150,599     151,933     133,007     151,620     149,814
loans
Commercial investor 552,178     518,029     497,365     487,802     456,888     447,536     443,237     392,626
real estate loans
Commercial owner
occupied real       592,823     569,350     563,258     565,820     571,510     579,711     579,812     525,022
estate loans
Commercial business 356,651     332,670     334,979     344,489     346,708     322,087     334,040     253,827
loans
Leasing             703         962         1,415       1,974       3,421       4,233       5,618       5,843
Consumer loans      373,657     368,764     363,114     353,341     356,990     353,999     357,534     356,215
Total loans and     2,784,266   2,662,010   2,605,458   2,565,069   2,531,128   2,468,985   2,475,078   2,271,392
leases
Allowance for loan  (38,766)    (39,422)    (39,015)    (41,246)    (42,957)    (42,618)    (45,265)    (45,061)
and lease losses
Investment          1,016,609   1,077,951   1,102,209   1,008,693   1,075,032   1,074,918   1,006,743   1,067,462
securities
Interest-earning    3,836,912   3,771,825   3,802,682   3,660,809   3,669,175   3,614,310   3,584,480   3,416,136
assets
Total assets        4,106,100   4,052,969   4,072,617   3,932,026   3,955,206   3,887,427   3,855,177   3,668,273
Noninterest-bearing 836,198     890,319     877,891     832,679     847,415     818,674     763,566     685,770
demand deposits
Total deposits      2,877,225   2,916,466   2,926,650   2,919,208   2,913,034   2,880,262   2,852,055   2,681,075
Customer repurchase 53,842      53,177      54,731      50,302      51,929      58,306      64,779      73,130
agreements
Total
interest-bearing    2,744,869   2,634,324   2,678,490   2,576,831   2,592,606   2,560,040   2,593,501   2,508,756
liabilities
Total stockholders' 499,363     493,882     485,643     488,947     483,512     481,810     471,464     451,917
equity
Quarterly average                                                                                
balance sheets:
Residential         $614,698  $593,335  $579,899  $575,889  $542,095  $510,475  $488,644  $474,149
mortgage loans
Residential         125,744    120,676    119,197    120,283    125,640    133,236    125,582    116,630
construction loans
Commercial ADC      156,558    158,557    160,483    148,749    137,679    142,870    151,374    159,769
loans
Commercial investor 522,085    499,896    485,630    474,062    453,074    445,012    410,258    377,072
real estate loans
Commercial owner
occupied real       580,808    566,366    561,249    567,723    577,693    580,994    539,590    518,763
estate loans
Commercial business 357,455    331,374    337,843    347,569    322,501    332,364    284,271    258,099
loans
Leasing             817        1,152      1,644      2,510      3,773      4,858      5,528      6,325
Consumer loans      373,017    366,562    360,842    357,366    356,452    357,135    359,008    358,783
Total loans and     2,731,182  2,637,918  2,606,787  2,594,151  2,518,907  2,506,945  2,364,255  2,269,590
leases
Investment          1,055,432   1,097,643   1,047,726   1,051,769   1,072,278   1,038,586   1,052,502   1,086,295
securities
Interest-earning    3,817,033   3,770,855   3,692,215   3,677,444   3,639,605   3,599,715   3,453,590   3,389,843
assets
Total assets        4,082,839   4,039,069   3,959,907   3,946,578   3,908,479   3,863,951   3,708,622   3,637,674
Noninterest-bearing 872,532     862,046     838,502     797,926     824,188     774,215     699,638     641,477
demand deposits
Total deposits      2,901,814   2,903,926   2,892,704   2,860,451   2,891,120   2,857,523   2,714,980   2,642,634
Customer repurchase 57,682     56,766     55,941     52,622     60,941     62,693     66,674     65,195
agreements
Total
interest-bearing    2,679,812   2,659,406   2,599,704   2,631,198   2,571,937   2,587,815   2,526,541   2,523,394
liabilities
Total stockholders' 494,779     483,811     489,014     483,664     482,621     474,231     457,338     448,406
equity
Financial Measures                                                                               
Average equity to   12.12%      11.98%      12.35%      12.26%      12.35%      12.27%      12.33%      12.33%
average assets
Investment
securities to       26.50%      28.58%      28.99%      27.55%      29.30%      29.74%      28.09%      31.25%
earning assets
Loans to earning    72.57%      70.58%      68.52%      70.07%      68.98%      68.31%      69.05%      66.49%
assets
Loans to assets     67.81%      65.68%      63.98%      65.24%      63.99%      63.51%      64.20%      61.92%
Loans to deposits   96.77%      91.28%      89.03%      87.87%      86.89%      85.72%      86.78%      84.72%
Capital measures:                                                                                
Tier 1 leverage    11.32%      11.29%      11.28%      11.07%      10.98%      10.99%      11.21%      11.05%
Tier 1 capital to
risk-weighted       14.42%      14.45%      14.30%      14.23%      14.15%      14.31%      14.12%      14.89%
assets
Total regulatory
capital to          15.65%      15.70%      15.55%      15.48%      15.40%      15.56%      15.36%      16.14%
risk-weighted
assets
Book value per      $19.98    $19.77    $19.45    $19.59    $19.41    $19.35    $18.94    $18.72
share
Outstanding shares  24,990,021 24,985,146 24,967,558 24,954,892 24,905,392 24,896,136 24,886,724 24,143,985



Sandy Spring Bancorp, Inc. and Subsidiaries
LOAN PORTFOLIO QUALITY DETAIL - UNAUDITED
                                                                               
              2013                                     2012
(Dollars in    December  September  June 30, March 31, December  September  June 30, March 31,
thousands)     31,       30,                            31,       30,
Non-Performing                                                                  
Assets:
Loans and
leases 90 days                                                                  
past due:
Commercial     $--     $--      $15     $--     $24     $44      $70     $40
business
Commercial                                                                      
real estate:
Commercial     --       --        --       --       --       --        342      --
AD&C
Commercial
investor real  --       --        --       --       --       --        --       --
estate
Commercial
owner occupied --       --        --       --       209      --        --       --
real estate
Leasing        --       --        --       --       --       127       96       --
Consumer       1        10        --       54       14       18        5        89
Residential                                                                     
real estate:
Residential    --       --        --       --       --       116       91       167
mortgage
Residential    --       --        --       --       --       --        --       --
construction
Total loans
and leases 90  1        10        15       54       247      305       604      296
days past due
Non-accrual
loans and                                                                       
leases:
Commercial     3,400    4,050     4,483    4,012    4,611    4,919     4,583    6,542
business
Commercial                                                                      
real estate:
Commercial     4,127    5,086     5,885    5,826    6,332    8,957     13,055   14,303
AD&C
Commercial
investor real  6,802    6,877     11,741   12,353   11,843   12,345    13,327   13,893
estate
Commercial
owner occupied 5,936    4,202     5,413    5,346    13,681   13,742    15,146   16,295
real estate
Leasing        --       --        --       --       865      834       872      858
Consumer       2,259    2,004     2,305    2,388    2,410    1,607     1,651    1,700
Residential                                                                     
real estate:
Residential    5,735    5,643     5,581    5,393    4,681    3,644     2,600    4,818
mortgage
Residential    2,315    2,327     2,558    3,258    3,125    3,236     4,333    4,929
construction
Total
non-accrual    30,574   30,189    37,966   38,576   47,548   49,284    55,567   63,338
loans and
leases
Total
restructured   9,459    8,054     8,213    10,839   10,110   9,277     8,285    8,547
loans -
accruing
Total
non-performing 40,034   38,253    46,194   49,469   57,905   58,866    64,456   72,181
loans and
leases
Other assets
and real       1,338    1,662     4,831    5,250    5,926    9,291     9,553    4,834
estate owned
(OREO)
Total
non-performing $41,372 $39,915  $51,025 $54,719 $63,831 $68,157  $74,009 $77,015
assets
                                                                               
              For the quarter ended,
              December September June 30,  March 31, December September June     March
               31,      30,                           31,      30,       30,      31,
(Dollars in    2013      2013       2013      2013      2012      2012       2012      2012
thousands)
Analysis of Non-accrual                                                          
Loan and Lease Activity:
Balance at
beginning of   $30,189 $37,966  $38,576 $47,548 $49,284 $55,567  $63,338 $71,680
period
Non-accrual
balances       (365)    (723)     (1,426)  (92)     (400)    (232)     (2,131)  --
transferred to
OREO
Non-accrual
balances       (922)    (4,995)   (668)    (2,175)  (979)    (3,697)   (1,663)  (4,965)
charged-off
Net payments   (971)    (13,547)  (3,560)  (11,768) (3,852)  (6,342)   (4,149)  (5,061)
or draws
Loans placed   3,546    11,488    5,044    5,493    5,023    3,988     1,261    1,809
on non-accrual
Non-accrual
loans brought  (903)    --        --       (430)    (1,528)  --        (1,089)  (125)
current
Balance at end $30,574 $30,189  $37,966 $38,576 $47,548 $49,284  $55,567 $63,338
of period
                                                                               
Analysis of
Allowance for                                                                   
Loan Losses:
Balance at
beginning of   $39,422 $39,015  $41,246 $42,957 $42,618 $45,265  $45,061 $49,426
period
Provision
(credit) for   586      1,128     (2,876)  78       1,168    232       1,585    664
loan and lease
losses
Less loans
charged-off,                                                                    
net of
recoveries:
Commercial     384      1         (32)     1,744    (76)     (225)     (185)    (39)
business
Commercial                                                                      
real estate:
Commercial     85       (616)     (1,444)  (1,020)  (248)    1,983     (59)     1,076
AD&C
Commercial
investor real  23       1,243     123      31       110      123       140      3,219
estate
Commercial
owner occupied (82)     (284)     100      81       --       653       484      --
real estate
Leasing        --       (6)       (4)      --       --       (17)      (3)      5
Consumer       488      169       490      508      384      111       228      348
Residential                                                                     
real estate:
Residential    347      216       22       447      508      253       713      420
mortgage
Residential    (3)      (2)       100      (2)      151      (2)       63       --
construction
Net            1,242    721       (645)    1,789    829      2,879     1,381    5,029
charge-offs
Balance at end $38,766 $39,422  $39,015 $41,246 $42,957 $42,618  $45,265 $45,061
of period
                                                                               
Asset Quality                                                                   
Ratios:
Non-performing
loans to total 1.44%     1.44%      1.77%     1.93%     2.29%     2.38%      2.60%     3.18%
loans
Non-performing
assets to      1.01%     0.98%      1.25%     1.39%     1.61%     1.75%      1.92%     2.10%
total assets
Allowance for
loan losses to 1.39%     1.48%      1.50%     1.61%     1.70%     1.73%      1.83%     1.98%
loans
Allowance for
loan losses to 96.83%    103.06%    84.46%    83.38%    74.18%    72.40%     70.23%    62.43%
non-performing
loans
Net
charge-offs in 0.18%     0.11%      (0.10)%   0.28%     0.13%     0.46%      0.23%     0.89%
quarter to
average loans



Sandy Spring Bancorp, Inc. and Subsidiaries
CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES - UNAUDITED
                                                                       
                   Three Months Ended December 31,
                   2013                               2012
                                        Annualized                     Annualized
                   Average      (1)     Average     Average     (1)     Average
(Dollars in
thousands and       Balances     Interest  Yield/Rate  Balances    Interest  Yield/Rate
tax-equivalent)
Assets                                                                  
Residential         $614,698   $5,384  3.49%       $542,095  $5,278  3.93%
mortgage loans (2)
Residential         125,744      1,189     3.75        125,640     1,076     3.41
construction loans
Commercial ADC      156,558      2,057     5.21        137,679     1,866     5.39
loans
Commercial investor 522,085      6,974     5.30        453,074     6,242     5.48
real estate loans
Commercial owner
occupied real       580,808      7,230     5.10        577,693     7,514     5.26
estate loans
Commercial business 357,455      4,520     4.97        322,501     4,523     5.43
loans
Leasing             817          14        6.81        3,773       54        5.62
Consumer loans      373,017      3,166     3.39        356,452     3,111     3.50
Total loans and     2,731,182    30,534    4.47        2,518,907   29,664    4.71
leases (3)
Taxable securities  751,796      4,597     2.43        768,412     4,493     2.34
Tax-exempt          303,636      3,283     4.29        303,866     3,351     4.41
securities (4)
Interest-bearing    29,944       19        0.25        47,954      28        0.22
deposits with banks
Federal funds sold  475          1         0.22        466         --       0.22
Total
interest-earning    3,817,033    38,434    4.03        3,639,605   37,536    4.11
assets
                                                                       
Less:allowance for
loan and lease      (39,775)                         (42,741)             
losses
Cash and due from   45,549                           48,803               
banks
Premises and        46,545                           48,626               
equipment, net
Other assets        213,487                          214,186              
Total assets        $4,082,839                     $3,908,479          
                                                                       
Liabilities and
Stockholders'                                                           
Equity
Interest-bearing    $443,959   93       0.08%       $400,175  88       0.09%
demand deposits
Regular savings     239,382      45       0.08        220,814     44       0.08
deposits
Money market        876,014      283       0.13        900,991     472       0.21
savings deposits
Time deposits       469,927      809       0.68        544,952     1,046     0.76
Total
interest-bearing    2,029,282    1,230     0.24        2,066,932   1,650     0.32
deposits
Other borrowings    61,780       37        0.24        64,908      46        0.28
Advances from FHLB  553,750      3,269     2.34        405,097     3,359     3.30
Subordinated        35,000       223       2.55        35,000      227       2.59
debentures
Total
interest-bearing    2,679,812    4,759     0.70        2,571,937   5,282     0.82
liabilities
                                                                       
Noninterest-bearing 872,532                          824,188              
demand deposits
Other liabilities   35,716                           29,733               
Stockholders'       494,779                          482,621              
equity
Total liabilities
and stockholders'   $4,082,839                     $3,908,479          
equity
                                                                       
Net interest income             $33,675 3.33%                  $32,254 3.29%
and spread
Less:
tax-equivalent                  1,325                          1,334    
adjustment
Net interest income             $32,350                       $30,920 
                                                                       
Interest
income/earning                           4.03%                           4.11%
assets
Interest
expense/earning                          0.50                            0.58
assets
Net interest margin                      3.53%                           3.53%
                                                                       
(1) Tax-equivalent income has been adjusted using the combined marginal federal and state
rate of 39.88% for 2013 and2012. The annualized taxable-equivalent adjustments utilized
in the above table to compute yields aggregated to $1.3 million and $1.3 million in 2013
and 2012, respectively.
(2) Includes residential mortgage loans held for sale. Home equity loans and lines are
classified as consumer loans.
(3) Non-accrual loans are included in the average balances.
(4) Includes only investments that are exempt from federal taxes.



Sandy Spring Bancorp, Inc. and Subsidiaries
CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES - UNAUDITED
                                                                        
                   Twelve Months Ended December 31,
                   2013                               2012
                                        Annualized                      Annualized
                   Average     (1)      Average     Average     (1)      Average
(Dollars in
thousands and       Balances    Interest   Yield/Rate  Balances    Interest   Yield/Rate
tax-equivalent)
Assets                                                                   
Residential         $591,068  $21,385  3.62%       $503,963  $21,281  4.22%
mortgage loans (2)
Residential         121,488     4,331      3.57        125,295     4,581      3.66
construction loans
Commercial ADC      156,115     9,596      6.15        147,881     7,721      5.22
loans
Commercial investor 495,562     27,901     5.63        421,505     23,167     5.50
real estate loans
Commercial owner
occupied real       569,065     29,696     5.36        554,397     30,236     5.45
estate loans
Commercial business 343,554     17,807     5.07        299,462     16,511     5.51
loans
Leasing             1,525       102        6.70        5,117       326        6.36
Consumer loans      364,495     12,491     3.45        357,839     12,592     3.52
Total loans and     2,642,872   123,309    4.69        2,415,459   116,415    4.82
leases (3)
Taxable securities  761,713     18,133     2.38        774,030     19,254     2.49
Tax-exempt          301,534     13,112     4.35        288,347     13,463     4.67
securities (4)
Interest-bearing    33,261      84         0.25        42,668      111        0.26
deposits with banks
Federal funds sold  475         1         0.22        724         1         0.18
Total
interest-earning    3,739,855   154,639    4.15        3,521,228   149,244    4.24
assets
                                                                        
Less:allowance for
loan and lease      (41,606)                         (46,260)              
losses
Cash and due from   45,836                           46,588                
banks
Premises and        47,244                           48,875                
equipment, net
Other assets        216,082                          209,653               
Total assets        $4,007,411                      $3,780,084           
                                                                        
Liabilities and
Stockholders'                                                            
Equity
Interest-bearing    $438,183  373       0.09%       $385,004  344       0.09%
demand deposits
Regular savings     238,818     204       0.09        212,659     199        0.09
deposits
Money market        879,588     1,414      0.16        877,546     1,943      0.22
savings deposits
Time deposits       490,278     3,448      0.70        566,658     4,871      0.86
Total
interest-bearing    2,046,867   5,439      0.27        2,041,867   7,357      0.36
deposits
Other borrowings    60,249      163        0.27        70,477      204        0.29
Advances from FHLB  500,593     12,936     2.58        405,227     14,131     3.49
Subordinated        35,000      895        2.56        35,000      959        2.74
debentures
Total
interest-bearing    2,642,709   19,433     0.74        2,552,571   22,651     0.89
liabilities
                                                                        
Noninterest-bearing 843,008                          735,231               
demand deposits
Other liabilities   33,858                           26,563                
Stockholders'       487,836                          465,719               
equity
Total liabilities
and stockholders'   $4,007,411                      $3,780,084           
equity
                                                                        
Net interest income            $135,206 3.41%                  $126,593 3.35%
and spread
Less:
tax-equivalent                 5,292                           5,374     
adjustment
Net interest income            $129,914                       $121,219 
                                                                        
Interest
income/earning                           4.15%                            4.24%
assets
Interest
expense/earning                          0.52                             0.64
assets
Net interest margin                      3.63%                            3.60%
                                                                        
(1) Tax-equivalent income has been adjusted using the combined marginal federal and state
rate of 39.88% for 2013 and2012. The annualized taxable-equivalent adjustments utilized
in the above table to compute yields aggregated to $5.3 million and $5.4 million in 2013
and 2012, respectively.
(2) Includes residential mortgage loans held for sale. Home equity loans and lines are
classified as consumer loans.
(3) Non-accrual loans are included in the average balances.
(4) Includes only investments that are exempt from federal taxes.

CONTACT: Daniel J. Schrider, President & Chief Executive Officer, or
         Philip J. Mantua, E.V.P. & Chief Financial Officer
         Sandy Spring Bancorp
         17801 Georgia Avenue
         Olney, Maryland 20832
         1-800-399-5919
         Email: DSchrider@sandyspringbank.com
                PMantua@sandyspringbank.com
         Web site: www.sandyspringbank.com

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