Sandy Spring Bancorp Commemorates 20 Years as Nasdaq Listed Company
NEW YORK, April 18, 2016 (GLOBE NEWSWIRE) -- Today Sandy Spring Bancorp, Inc., (Nasdaq:SASR) the parent company of Sandy Spring Bank, celebrates its 20th anniversary as a Nasdaq listed company. Daniel Schrider, the bank’s President and CEO, and Philip Mantua, Chief Financial Officer, rang the Nasdaq opening bell this morning to recognize the occasion. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/02b30221-e297-4bbc-afb0-556bb7e9a8dc
“I am proud of what we have accomplished on behalf of our clients, employees and shareholders,” says Schrider. “We’ve proven our ability to excel in a highly competitive market, while remaining committed to our core values.”
Independent and community oriented, Sandy Spring Bank has evolved over its nearly 150-year history to offer a full range of commercial and retail banking, and mortgage, trust and investment services throughout Maryland, Virginia and D.C.
Since listing on Nasdaq, Sandy Spring has grown its total assets from $978 million to over $4.7 billion. The bank has also significantly increased its deposits and loans from $806 million and $523 million to $3.3 billion and $3.5 billion respectively. Sandy Spring has also grown its market cap from $190 million to nearly $650 million.
Between 2010 and 2015, Sandy Spring Bank had an earnings per share compound annual growth rate of almost 12% (11.7%). Company stock has seen a total shareholder return of 68% over a five-year period; peer group index over same period was 51.27%. Dividend yield was 3.56% as of the end of 2015.
The bank has cultivated a unique employee culture that puts the client at the center of every business decision. The Customer Experience Professionals Association (CXPA) named Sandy Spring Bank a 2015 CX Innovation Award winner for its coordinated approach to engaging and training its nearly 800 employees on ways to better serve its clients.
For the past 10 consecutive years, Forbes has named Sandy Spring one of America’s 50 Most Trustworthy Financial Companies.
About Sandy Spring Bancorp, Inc.
Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank. Independent and community-oriented, Sandy Spring Bank offers a broad range of commercial banking, retail banking, mortgage and trust services throughout central Maryland, Northern Virginia, and the greater Washington D.C. market. Through its subsidiaries, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services. With $4.7 billion in assets, the bank operates 45 community offices and six financial centers across the region.
Contact: Jen Schell 240-755-7834 [email protected]
Source: Sandy Spring Bancorp, Inc.