BBT - Sandy Spring Stumbles On Fee-Based Income As Funding Remains A Concern
In what has been an “okay, but not great” quarter for bank earnings report, small-cap metro D.C. bank Sandy Spring Bancorp (SASR) definitely skewed toward the “not great” part, sending the stock down about 10% at the worst point post-earnings. The reaction might have been a little overdone, but funding issues remain front and center, and I have some concerns about ramping competition in the D.C. metro area, not to mention the possible impact to the company’s D.C.-area loan portfolio if the government shutdown stretches on.
I don’t want to harp on the