Sandy Spring

Olney-based Sandy Spring Bank warned Wednesday that counterfeit cashier's checks bearing the institution's name and routing number are in circulation. The company has notified the Federal Deposit Insurance Corp., a government corporation that guarantees bank deposits, of the counterfeit checks. The checks use the bank's routing number – 055001096 – and display an inaccurate security feature. According to Sandy Spring, the fake checks display a security feature statement embedded in a darkened top border and along the bottom border, between two padlock icons.

Sandy Spring Bancorp said Thursday it turned a $6.2 million profit in the second quarter, the result of its efforts to reduce problem loans during the past few quarters. On a per-share basis, the Olney-based bank holding company earned 26 cents per share for the quarter. A year earlier, Sandy Spring lost $280,000, or 2 cents per share. Additionally, the company said it repaid half of the $83 million it received in 2008 from the government's Troubled Asset Relief Program. During the second quarter, the bank reduced the amount of money set aside for losses to $6.1 million, down from $10.6 million a year earlier.

Sandy Spring Bancorp said Tuesday it had raised about $101 million from a stock offering that was announced last week. The Olney-based bank holding company sold about 7.5 million shares of common stock for $13.50 per share. The company said it will net about $96 million after subtracting commissions and underwriting discounts. At the time the offering was announced, Sandy Spring said it would use the proceeds for a range of purposes, including debt reduction and repayment of money it received last year under the government's Troubled Asset Relief Program.

Sandy Spring Bancorp announced Wednesday that it plans to issue new shares to raise $83 million. The number of shares to be issued hasn't been announced. The Olney-based bank holding company expects to use the proceeds for a variety of purposes, including acquisitions, debt reduction, capital for its subsidiary Sandy Spring Bank and to repay money received under the Troubled Asset Relief Program. Sandy Spring received $83 million in federal TARP money in December 2008. - Eileen Ambrose

Sandy Spring Bancorp Inc. reported Thursday that it lost $3.2 million, or 20 cents per share, in the fourth quarter, largely due an increase in money set aside for loan losses. After paying out dividends to preferred shareholders, the company reported a $4.4 million loss to common shareholders. For the fourth quarter a year earlier, the Olney bank holding company lost $3.4 million, or 21 cents per share. For the full year, Sandy Spring lost $14.8 million, compared to a $15.8 million profit in 2008.

SANDY SPRING - All Josh Furman wanted was a second chance. He got it, and now No. 2 Old Mill is going to its first state championship game on the strength of its fabulous senior running back. After fumbling inside the Sherwood 20-yard line with less than four minutes left, Old Mill regained possession with 94 seconds to play. The Patriots drove 82 yards, capped by Furman's 6-yard touchdown run and subsequent two-point conversion with 17 seconds left to give Old Mill a 20-13 win over defending champion Sherwood in a Class 4A state semifinal Saturday before an estimated 3,500.

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.

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.

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.