Sandy Spring Bancorp Reports $6.2 Million Loan Loss Provision in Second Quarter

OLNEY, Md., July 9 /PRNewswire-FirstCall/ -- Sandy Spring Bancorp, Inc., the parent company of Sandy Spring Bank, reported today that the Company incurred a second quarter provision for loan losses of approximately $6.2 million, increasing the allowance for loan and lease losses to approximately 1.38% of outstanding loans and leases at June 30, 2008 from 1.18% at March 31, 2008. (Logo: to locate an ATM near you or for more information about Sandy Spring Bank. Forward-Looking Statements Sandy Spring Bancorp makes forward-looking statements in this news release. These forward-looking statements may include: statements of goals, intentions, earnings expectations, and other expectations; estimates of risks and of future costs and benefits; assessments of probable loan and lease losses; assessments of market risk; and statements... [read full story]