PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

PARENT COMPANY FINANCIAL INFORMATION

Note 21 – Parent Company Financial Information

Financial statements for Sandy Spring Bancorp, Inc. (Parent Only) for the periods indicated are presented in the following tables:

Statement of Condition
			December 31,
(In thousands)			2015		2014
Assets
	Cash and cash equivalents		$	9,154	$	12,088
	Investments available-for-sale (at fair value)			1,223		723
	Investments held-to-maturity			2,100		-
	Investment in subsidiary			511,841		508,821
	Loan to subsidiary			35,000		35,000
	Other assets			352		342
Total assets			$	559,670	$	556,974
Liabilities
	Subordinated debentures		$	35,000	$	35,000
	Accrued expenses and other liabilities			243		223
		Total liabilities		35,243		35,223
Stockholders’ Equity
	Common stock			24,296		25,045
	Additional paid in capital			175,588		194,647
	Retained earnings			325,840		302,882
	Accumulated other comprehensive income			(1,297)		(823)
		Total stockholders’ equity		524,427		521,751
Total liabilities and stockholders’ equity			$	559,670	$	556,974

Statements of Income
			Year Ended December 31,
(In thousands)			2015		2014		2013
Income:
	Cash dividends from subsidiary		$	42,580	$	19,530	$	16,585
	Other income			995		902		931
		Total income		43,575		20,432		17,516
Expenses:
	Interest			899		881		895
	Other expenses			1,123		1,060		1,044
		Total expenses		2,022		1,941		1,939
Income before income taxes and equity in undistributed income of subsidiary				41,553		18,491		15,577
Income tax benefit				(308)		(266)		(271)
		Income before equity in undistributed income of subsidiary		41,861		18,757		15,848
Equity in undistributed income of subsidiary				3,494		19,443		28,574
	Net income		$	45,355	$	38,200	$	44,422

Statements of Cash Flows
				Year Ended December 31,
(In thousands)				2015		2014		2013
Cash Flows from Operating Activities:
Net income				$	45,355	$	38,200	$	44,422
Adjustments to reconcile net income to net cash provided by operating activities:
		Equity in undistributed income-subsidiary			(3,494)		(19,443)		(28,574)
		Dividends receivable from subsidiary bank
		Share based compensation expense			1,979		1,452		1,688
		Other-net			10		(261)		(43)
			Net cash provided by operating activities		43,850		19,948		17,493
Cash Flows from Investing Activities:
	Purchase of investment available-for-sale				(2,600)		-		-
		Net cash used by investing activities			(2,600)		-		-
Cash Flows from Financing Activities:
	Proceeds from issuance of common stock				487		394		153
	Tax benefit from stock options exercised				350		321		-
	Repurchase of common stock				(22,624)		(910)		-
	Dividends paid				(22,397)		(19,216)		(16,130)
		Net cash provided (used) by financing activities			(44,184)		(19,411)		(15,977)
Net increase (decrease) in cash and cash equivalents					(2,934)		537		1,516
Cash and cash equivalents at beginning of year					12,088		11,551		10,035
Cash and cash equivalents at end of year				$	9,154	$	12,088	$	11,551