NEWS
By Eileen Ambrose | April 22, 2009
Sandy Spring Bancorp Inc. launched a campaign this month to attract customers from nearby rivals acquired by out-of-state banks, even as it faces weaker profits amid the economic slowdown. Sandy Spring's top executive discussed plans to win over customers from Chevy Chase Bank and Provident Bankshares Corp. during a conference call with analysts Tuesday to discuss first-quarter earnings. Capital One Financial Corp. bought Chevy Chase this year; M&T Bank is buying Provident. The Olney-based bank reported that its earnings available to common shareholders dropped to $1 million, or 6 cents per share, mostly because of a $10.6 million loan loss provision related mainly to its real estate development portfolio.
NEWS
December 20, 2008
On December 14, 2008, MARY JANE HAMILL of Sandy Spring, MD, formerly of Kensington, MD, beloved wife of the late Edward J. McCarthy, Jr., dear mother of Nora Cherubin, Mary Catherine Klemowski, Ann Mirsky, Elizabeth Young, Maureen Salvail and Clare McCarthy. Also survived by a brother Jere Hamill, a sister Ann Sisson, and five grandchildren: Michael Klemowski, the late Lisa Klemowski Boutwell, Katie Salvail, Megan Salvail, and Jack Salvail, and three great-grandchildren: Angel Solomon, Michael Klemowski and Crystal Klemowski.
NEWS
June 27, 2007
Advertising Warschawski has promoted Sara Huber to senior associate for the Baltimore-based marketing and branding agency. Imre Communications LLC announced that Erin Grecu and Eileen Coyne have joined the Baltimore-based brand communications agency as senior account executives. They will be responsible for the planning, development and execution of strategic campaigns for clients in the insurance industry. Banking and finance Sandy Spring Bank Inc., headquartered in Olney, named R. Stephen Geoffray president of its subsidiary Sandy Spring Insurance Corp.
NEWS
By Laura Smitherman | December 15, 2006
Sandy Spring Bancorp announced yesterday that it has agreed to acquire CN Bancorp Inc. for $44.1 million in cash and stock in an effort to expand the bank's presence in the Anne Arundel County market dominated by larger, out-of-state banks. Olney-based Sandy Spring has been expanding its footprint in the affluent suburbs of the Baltimore-Washington corridor. With the CN Bancorp deal, Sandy Spring picks up four County National Bank branches in Glen Burnie, Pasadena, Odenton and Millersville, and an administrative center.
NEWS
October 22, 2006
On Monday, October 16, 2006, CAROLYN LOUISE SCOTT MOSLEY, age 99, beloved wife of the late Hezekiah Mosley, loving sister of Paul F. Scott and his wife Roberta Woodlon Scott, cherished aunt of Sandra S. Days and her husband John, Dr. Paul F. Scott, Jr., and his wife Ann, Michael P. Scott and Jonathan J. Scott, numerous great nieces and nephews, great-great nieces and nephews, cousins, friends and neighbors. Family hour will be held 11 A.M., Tuesday, October 24. Funeral will follow at 12 noon at the Sharp Street United Methodist Church, 1310 Olney - Sandy Spring Road, Sandy Spring, MD, 20860.
NEWS
By Laura Smitherman | October 18, 2006
First Mariner Bancorp and Sandy Spring Bancorp, two of Maryland's largest independent banks, reported slumping earnings yesterday as the housing market slowed demand for residential mortgages and development loans, and as interest rates remained at levels that make it harder for banks to profit. Baltimore-based First Mariner announced that its third-quarter net income declined 8 percent to $2 million, or 31 cents a share, from $2.2 million, or 34 cents a share, a year ago. Edwin F. Hale Sr., chairman and chief executive officer, blamed an "overall real estate slowdown" and noted that accruing loans that were 90 days or more past due jumped to $8 million from $1.3 million last year.
NEWS
By Hanah Cho | October 12, 2006
Sandy Spring Bancorp of Olney said yesterday that it was entering the Virginia banking market with the acquisition of Potomac Bank in a deal worth $64.7 million. Sandy Spring's acquisition comes on the heels of a proposed acquisition of Mercantile Bankshares Corp. of Baltimore by a Pittsburgh bank as institutions seek to grow in an increasingly competitive market. After Mercantile's deal with PNC Financial is completed, Sandy Spring would become the second-largest, publicly traded independent bank based in Maryland.
NEWS
By LAURA SMITHERMAN | April 19, 2006
First Mariner Bancorp and Sandy Spring Bancorp reported higher first-quarter profits yesterday as the Maryland institutions have joined other banks in expanding beyond traditional services such as deposit-taking and lending to become insurance agents, leasing companies and even landlords. Both banks reported their biggest gains in so-called non-interest income that includes service fees and other business lines. Olney-based Sandy Spring, which has acquired a financial planning company and an insurance agency in the past six months, reported its quarterly net income rose 6 percent to $8.3 million, or 56 cents per share, from $7.9 million, or 53 cents per share, a year ago. Baltimore-based First Mariner, which has expanded its consumer credit division and begun gathering rental income from commercial tenants at its Canton headquarters, reported a 21 percent profit gain to $1.7 million, or 25 cents per share, from $1.4 million, or 22 cents per share, a year ago. Diversification has shielded some banks from forces that are squeezing profit growth at banks across the country after five consecutive years of record earnings.
NEWS
April 1, 2006
On Saturday, March 25, 2006, RUTH G. GRESSER, 48. of Columbia, MD. Loving mother of Bethany, Teddy and Hannah Gresser, daughter of Rolland and Ruth Schreib, sister of Robert, Mark, and Chris Schreib, and Claudia Schreib-Li. Also surviving are her fiance Martin Stephens and many devoted friends. Friends are invited to the memorial service at 6 P.M., Saturday April 1st at the Sandy Spring Friends Meeting House, 17715 Meetinghouse Road, in Sandy Spring, Maryland 20860. Memorial contributions may be made to the American Cancer Society.
NEWS
March 4, 2006
William Mathias "Ping" Kricker, a retired career Air Force officer and Pentagon procurement official, died Feb. 23 at Charlestown Retirement Community. He was 97. Mr. Kricker was born and raised on his family's farm at Patapsco Neck overlooking Bear Creek. He was a 1926 graduate of Sparrows Point High School and earned a bachelor's degree from the University of Maryland School of Agriculture in 1933. After Prohibition ended in 1933, Mr. Kricker joined his father's business, the Baltimore Pure Rye distillery in Dundalk.