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Sandy Spring Bancorp (SASR) investor relations material
Sandy Spring Bancorp has been acquired
Sandy Spring Bancorp Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary24 Apr, 2025
Executive summary
Closed acquisition of Sandy Spring Bancorp on April 1, 2025, a quarter ahead of schedule, adding 53 branches and $13.8 billion in assets, and accelerating integration and cost savings.
Pro forma assets reached $38.4 billion, with 183 branches across Virginia, Maryland, and North Carolina, making the franchise the largest regional bank in the Mid-Atlantic.
Net income available to common shareholders was $46.9 million for Q1 2025, with adjusted operating earnings of $51.6 million and adjusted diluted EPS of $0.57.
Net interest margin expanded to 3.45% (FTE), with average loan and deposit balances growing sequentially.
The franchise operates in affluent, resilient Mid-Atlantic markets, focusing on Maryland, Virginia, and North Carolina.
Financial highlights
Net interest income was $184.2 million, up $0.9 million from Q4 2024, with net interest margin (FTE) rising 12 bps to 3.45%.
Noninterest income decreased by $6 million to $29.2 million, mainly due to lower swap fees and investment income.
Noninterest expense increased by $4.5 million to $134.2 million, driven by higher salaries, benefits, and technology costs.
Allowance for credit losses increased to 1.13% of loans held for investment.
CET1 ratio was 10.07% at March 31, 2025, projected to remain around 10% post-acquisition and CRE loan sale.
Outlook and guidance
Full-year 2025 net interest income projected at $1.15–$1.25 billion; net interest margin expected between 3.75% and 4%.
Year-end loan balances projected at $28–$29 billion; deposit balances at $31–$32 billion.
Adjusted operating noninterest expense expected at $665–$685 million; allowance for credit losses to loans at 1.2%–1.3%; net charge-off ratio at 15–25 bps.
CRE loan sale of $2 billion expected to close by June 30, 2025, reducing concentration and improving capital ratios.
Management remains focused on soundness, profitability, and sustainable growth.
What is driving the decline in equity method investment income?
Explain the proactive steps to fortify loan loss reserves.
How will the Sandy Spring merger impact future growth?
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Frequently asked questions
Sandy Spring Bancorp, Inc. operates as the bank holding company for Sandy Spring Bank. SSB offers commercial and retail banking and trust services to individuals, businesses, and nonprofit organizations. The company's loan portfolio comprises construction, land development, multifamily residential, commercial business real estate, SBA loans and other loans.
Its loan portfolio includes CCB lines of credit; multi-family mortgage loans; construction loans on apartment projects; condo projects; co-op apartment projects; condominium projects; mixed use buildings; self storage buildings; and seniors housing property developments. Sandy Spring Bancorp, Inc. was founded in 1868 and is headquartered in Olney, Maryland.
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