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年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
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報告稱，第一季度淨收益爲2,040萬美元，攤薄後每股普通股收益爲0.45美元，下降的主要原因是信貸損失準備金增加、淨利息收入減少和非利息成本增加。
非利息收入增長11％，至1,830萬美元，同比增長15％。
據報道，淨利率爲2.41％，而2023年第四季度爲2.45％，預計將在2024年擴大。
儘管總資產下降了1％，但存款增長仍爲2.307億美元，增長2％。
Business Progress:
業務進展：
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表示致力於增加核心資金，管理支出並實現各種貸款類別的多元化增長，同時減少商業房地產敞口。
該銀行正專注於向C＆I貸款的轉變，旨在覆蓋更廣泛的小型企業和商業活動。
預計將小企業管理局貸款機構納入該團隊將促進其商業模式過渡和貸款發放。
鑑於利率變動對存款餘額的潛在影響，他們熱衷於追蹤利率變動。
More details: Sandy Spring Bancorp IR
更多詳情： 桑迪斯普林斯班科普投資者關係
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。