SASR - Sandy Spring Bancorp: 26 Years Have Passed But The Price Per Share Is The Same

2024-04-27 05:58:39 ET

Summary

• Sandy Spring Bank's net interest income/margin has plummeted due to lower rate cut expectations and rising deposit costs.
• The bank is focusing on improving relationships with existing customers rather than granting new loans, particularly in the commercial real estate sector.
• Non-interest income has increased, primarily driven by the Wealth Management and Mortgage Banking business.

In my last article on Sandy Spring ( SASR ) I was highlighting my concerns about lowering rate cut expectations in 2024. In fact, this bank has total loans stalled, but the cost of deposits steadily rising. Months later, the “higher for longer” scenario is becoming a reality, and net interest income/margin has plummeted once again....

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