UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR SANDY SPRING BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 52-1532952 (State of incorporation) (I.R.S. Employer Identification Number) 17801 Georgia Avenue, Olney, Maryland 20832 (Address of principal executive office) (Zip Code) 301-774-6400 ☐ TRANSITION REPO ...

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Q1 2024 Earnings Conference Call April 23, 2024 2:00 PM ET Company Participants Daniel J. Schrider – President and Chief Executive Officer Aaron Kaslow – General Counsel and Chief Administrative Officer Charlie Cullum – Deputy Chief Financial Officer Conference Call Participants Catherine Mealor – KBW Casey Whitman – Piper Sandler Russell Gunther – Stephens Manuel Navas – D.A. Davidson Daniel Cardenas – Janney Montgomery Scott Operator Good afternoon, ladies and gent ...

| --- | --- | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------|-------|------------------------------------------------------------------------------------| | • | 1Q 2024 Highlights1 Total core customer deposit growth of $286.6 million (+3%), total deposit growth of $230.7 million | Net | $20.3 million Income Available to Common Equity (-22% vs. 4Q 2023) | | • | Total loans remained flat at $11.4 billion | | | | • ...

Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE SANDY SPRING BANCORP REPORTS FIRST QUARTER EARNINGS OF $20.4 MILLION OLNEY, MARYLAND, April 23, 2024 — Sandy Spring Bancorp, Inc. (Nasdaq-SASR), the parent company of Sandy Spring Bank, reported net income of $20.4 million ($0.45 per diluted common share) for the quarter ended March 31, 2024, compared to net income of $26.1 million ($0.58 per diluted common share) for the fourth quarter of 2023 and $51.3 million ($1.14 per diluted common share) for the first q ...

(Exact name of registrant as specified in its charter) Maryland 52-1532952 (State or other jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-19065 SANDY SPRING BANCORP, INC. 17801 Georgi ...

Financial Data and Key Metrics Changes - Core earnings for the current quarter were $27.1 million or $0.60 per diluted common share, down from $27.8 million or $0.62 per diluted common share in the previous quarter and $35.3 million or $0.79 per diluted common share in the same quarter last year [7] - Net income for the quarter ended December 31, 2023, was $26.1 million or $0.58 per diluted common share, compared to $20.7 million or $0.46 per diluted common share for the third quarter of 2023 and $34 million or $0.76 per diluted common share for the fourth quarter of 2022 [20] - The net interest margin decreased to 2.45% from 2.55% in the previous quarter and 3.26% in the same quarter last year [35] Business Line Data and Key Metrics Changes - Total loans increased by $66.7 million or 1% to $11.4 billion at December 31, 2023, compared to $11.3 billion at September 30 [24] - Commercial loan production totaled $245 million, yielding $153 million in funded production for the quarter, down from $323 million yielding $96 million in the previous quarter [25] - Non-interest income decreased by 5% or $800,000 compared to the linked quarter but grew by 16% or $2.3 million compared to the prior year quarter [31] Market Data and Key Metrics Changes - Total deposits decreased by $154.5 million or 1% to $11 billion compared to $11.2 billion at September 30 [28] - The loan to deposit ratio increased to 103% at December 31 from 101% at September 30 [29] - Total borrowings remained unchanged across all categories at December 31 [12] Company Strategy and Development Direction - The company has shifted focus towards diversifying its asset base by growing small business and commercial & industrial (C&I) relationships while de-emphasizing growth in the commercial real estate portfolio [6] - The company implemented new technologies to enhance client access to products and services, aiming to deepen existing relationships and develop new ones through digital offerings [19] - The company anticipates a mid to upper-single digit growth in loans driven predominantly by C&I work and owner-occupied real estate [58] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the stability of the core deposit base and the potential for deposit growth through enhanced digital capabilities [63] - The company expects the net interest margin to bottom out in the first quarter of 2024 and rebound in subsequent quarters [33] - Management noted that the overall expense growth for 2024 is expected to be flat compared to 2023 levels after adjusting for one-time costs [34] Other Important Information - The company reported a total risk-based capital ratio of 14.92%, which remains well above regulatory requirements [38] - The CFO announced his retirement, with a transition plan in place for a new CFO [39] Q&A Session Summary Question: Can you clarify the expense guidance for 2024? - Management indicated that they expect overall expense growth to be flat year-over-year after adjusting for one-time costs from 2023 [43] Question: What is the outlook for deposit costs and noninterest-bearing deposits? - Management anticipates some incremental increases in deposit costs but expects to rebuild demand deposit account balances, which will help improve margins [44] Question: What is the expected loan production yield? - The average yield on new commercial production was about 8.3%, with various segments yielding between 6.5% to 8.5% [46] Question: How does the company view its digital transformation and ongoing projects? - Management confirmed that significant digital capabilities have been rolled out, with ongoing projects aimed at enhancing small business and commercial online capabilities [55] Question: What is the loan growth guidance for 2024? - The company aims for mid to upper-single digit loan growth, primarily driven by C&I and owner-occupied real estate [58]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ____________ Commission File Number: 0-19065 SANDY SPRING BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 52-1532952 (State of incorp ...

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Q3 2023 Earnings Conference Call October 24, 2023 2:00 PM ET Company Participants Daniel Schrider - President and Chief Executive Officer Philip Mantua - Executive Vice President and Chief Financial Officer Aaron Kaslow - General Counsel and Chief Administrative Officer Conference Call Participants Russell Gunther - Stephens Casey Whitman - Piper Sandler Catherine Mealor - KBW Manuel Navas - D.A Davidson Operator Hello, and welcome to today's Sandy Spring Bancorp, In ...

3rd Quarter 2023 Earnings Presentation October 24, 2023 Forward Looking Statements 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. These risks and uncertainties include, but are not limited to, the risks identified in our quarterly and annual reports and the following: changes in general business and economic conditions nationally or in the markets that we serve; changes in ...

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. These risks and uncertainties include, but are not limited to, the risks identified in our quarterly and annual reports and the following: changes in general business and economic conditions nationally or in the markets that we serve; changes in consumer and business confidence, investor sentiment, or consumer spending or savin ...