OLNEY, Md. (AP) — OLNEY, Md. (AP) — Sandy Spring Bancorp Inc. (SASR) on Tuesday reported first-quarter profit of $20.4 million.
The bank, based in Olney, Maryland, said it had earnings of 45 cents per share. Earnings, adjusted for amortization costs, came to 49 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The holding company for Sandy Spring Bank posted revenue of $184.4 million in the period. Its revenue net of interest expense was $97.7 million, which also topped Street forecasts.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SASR at https://www.zacks.com/ap/SASR
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