CBU - Sandy Spring Bancorp: Q4 NII And NIM Tumble Again

2024-01-26 17:15:44 ET

Summary

• Sandy Spring Bancorp, Inc. continues to struggle with the aftermath of SVB Financial Group's bankruptcy, facing issues such as high cost of deposits and a rigid financial structure.
• While Sandy Spring Bancorp's EPS beat expectations, the increase in earnings came from lower provision for credit losses and lower non-interest expense, not from an improvement in NII or non-interest income.
• The loan portfolio has stalled and NPLs have doubled in just one quarter, signaling potential challenges ahead for the company.

Almost a year after SVB Financial Group's (SIVBQ) bankruptcy, Sandy Spring Bancorp, Inc. ( SASR ) has still not made up for lost ground. Q4 2023 highlighted some issues that were already visible in previous quarters, some of which were mentioned in my previous article....

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