Earnings Call Summary | Sandy Spring Bancorp(SASR.US) Q1 2024 Earnings Conference
Earnings Call Summary | Sandy Spring Bancorp(SASR.US) Q1 2024 Earnings Conference
The following is a summary of the Sandy Spring Bancorp, Inc. (SASR) Q1 2024 Earnings Call Transcript:
以下是 Sandy Spring Bancorp, Inc.（SASR）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Sandy Spring Bancorp reported a Q1 net income of $20.4 million or $0.45 per diluted common share, a decrease majorly due to a hike in the provision for credit losses, lower net interest income, and higher non-interest cost.
Non-interest income saw an 11% surge to $18.3 million, indicating a 15% year-over-year increase.
Net interest margin was reported at 2.41% compared to 2.45% for Q4 2023, expecting to expand in 2024.
Despite a 1% decrease in total assets, deposit growth was reported at $230.7 million or 2%.
Sandy Spring Bancorp报告称，第一季度净收益为2,040万美元，摊薄后每股普通股收益为0.45美元，下降的主要原因是信贷损失准备金增加、净利息收入减少和非利息成本增加。
非利息收入增长11％，至1,830万美元，同比增长15％。
据报道，净利率为2.41％，而2023年第四季度为2.45％，预计将在2024年扩大。
尽管总资产下降了1％，但存款增长仍为2.307亿美元，增长2％。
Business Progress:
业务进展：
Sandy Spring Bancorp expressed a commitment to bolster core funding, manage expenses, and diversify growth in various loan categories while reducing commercial real estate exposure.
The bank is focusing on its shift towards C&I lending, aiming to cover a wider spectrum of small businesses and commercial activities.
The inclusion of SBA lenders to the team is expected to facilitate their business model transition and loan generation.
They are keen on tracking interest rate movements given their potential impact on deposit balances.
Sandy Spring Bancorp表示致力于增加核心资金，管理支出并实现各种贷款类别的多元化增长，同时减少商业房地产敞口。
该银行正专注于向C＆I贷款的转变，旨在覆盖更广泛的小型企业和商业活动。
预计将小企业管理局贷款机构纳入该团队将促进其商业模式过渡和贷款发放。
鉴于利率变动对存款余额的潜在影响，他们热衷于追踪利率变动。
More details: Sandy Spring Bancorp IR
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Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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译文内容由第三方软件翻译。