Sandy Spring Bancorp, Inc. (SASR) Financial Statements (2024 and earlier)

Company Profile

Business Address 17801 GEORGIA AVE
OLNEY, MD 20832
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments192,716420,385297,389145,895100,872112,500
Cash and cash equivalents192,039419,708296,712145,895100,872112,500
Short-term investments677677677   
Disposal group, including discontinued operation11,70639,40978,29453,70122,7739,848
Total current assets:204,422459,794375,683199,596123,645122,348
Noncurrent Assets
Operating lease, right-of-use asset48,91057,87265,21569,300
Property, plant and equipment67,07059,68557,72058,61561,94254,761
Intangible assets, net (including goodwill)383,291396,143402,744354,990356,93786,348
Goodwill363,436370,223370,223347,149347,14985,768
Intangible assets, net (excluding goodwill)19,85525,92032,5217,8419,788580
Total noncurrent assets:499,271513,700525,679482,905418,879141,109
Other undisclosed assets13,129,42611,617,23211,897,0677,946,5017,700,7485,183,218
TOTAL ASSETS:13,833,11912,590,72612,798,4298,629,0028,243,2725,446,675
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt350,000 230,243134,167625,969575,000
Total current liabilities:350,000 230,243134,167625,969575,000
Noncurrent Liabilities
Other undisclosed liabilities11,999,35111,071,04711,098,2317,361,8616,549,4004,307,859
Total liabilities:12,349,35111,071,04711,328,4747,496,0287,175,3694,882,859
Equity
Equity, attributable to parent1,483,7681,519,6791,469,9551,132,9741,067,903563,816
Common stock44,65745,11947,05734,97035,53123,996
Additional paid in capital734,273751,072846,922586,622606,573168,188
Accumulated other comprehensive income (loss)(131,951)(8,539)18,705(4,332)(15,754)(6,857)
Retained earnings836,789732,027557,271515,714441,553378,489
Total equity:1,483,7681,519,6791,469,9551,132,9741,067,903563,816
TOTAL LIABILITIES AND EQUITY:13,833,11912,590,72612,798,4298,629,0028,243,2725,446,675

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues498,594457,301430,355354,481328,995234,295
Net investment income495,667450,284423,560347,869322,837194,520
Financial services revenue39,775
Cost of revenue(34,372) (1,576)(4,684)(9,023)(2,977)
Provision for loan, lease, and other losses(34,372) (1,576)(4,684)(9,023)
Financial services costs(2,977)
Gross profit:464,222457,301428,779349,797319,972231,318
Operating expenses(35,678)(53,213)(74,112)(43,699)(50,750)(106,215)
Other operating income (expense), net(4,288)2,088(1,673)(7,730)(8,155)(4,840)
Noninterest income, other operating income8,69415,3179,2218,7807,1266,331
Other expenses (12,982)(13,229)(10,894)(16,510)(15,281)(11,171)
Operating income:424,256406,176352,994298,368261,067120,263
Nonoperating income
(Bank Owned Life Insurance Income)
3,1413,0222,8673,1654,3272,403
Interest and debt expense(68,663)(25,766)(60,401)(82,561)(63,637)(26,031)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (171,036)(66,111)(69,069)(8,700)
Income from continuing operations before equity method investments, income taxes:358,734383,432124,424152,861132,68887,935
Other undisclosed loss from continuing operations before income taxes(136,376)(71,773)    
Income from continuing operations before income taxes:222,358311,659124,424152,861132,68887,935
Income tax expense(56,059)(76,552)(27,471)(36,428)(31,824)(34,726)
Income from continuing operations:166,299235,10796,953116,433100,86453,209
Income before gain (loss) on sale of properties:235,10796,953116,433100,86453,209
Net income attributable to parent:166,299235,10796,953116,433100,86453,209
Other undisclosed net loss available to common stockholders, basic(681)(1,508)(783)   
Net income available to common stockholders, diluted:165,618233,59996,170116,433100,86453,209

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:166,299235,10796,953116,433100,86453,209
Other comprehensive income (loss)201(27,244)23,03711,422(7,420)(243)
Comprehensive income:166,500207,863119,990127,85593,44452,966
Other undisclosed comprehensive loss, net of tax, attributable to parent(123,613)     
Comprehensive income, net of tax, attributable to parent:42,887207,863119,990127,85593,44452,966

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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