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OLNEY, Md. (AP) — OLNEY, Md. (AP) — Sandy Spring Bancorp Inc. (SASR) on Tuesday reported a loss of $39.5 million in its fourth quarter.
The bank, based in Olney, Maryland, said it had a loss of 87 cents per share. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, came to 47 cents per share.
The holding company for Sandy Spring Bank posted revenue of $192.7 million in the period. Its revenue net of interest expense was $107.7 million, exceeding Street forecasts.
For the year, the company reported profit of $19.9 million, or 44 cents per share. Revenue was reported as $406.4 million.
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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