PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2016

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)			2016		2015
Assets
	Cash and cash equivalents		$	10,869	$	9,154
	Investments available-for-sale (at fair value)			10,357		1,223
	Investments held-to-maturity			-		2,100
	Investment in subsidiary			513,083		511,841
	Loan to subsidiary			30,000		35,000
	Other assets			515		352
Total assets			$	564,824	$	559,670
Liabilities
	Subordinated debentures		$	30,000	$	35,000
	Accrued expenses and other liabilities			1,252		243
		Total liabilities		31,252		35,243
Stockholders’ Equity
	Common stock			23,901		24,296
	Additional paid in capital			165,871		175,588
	Retained earnings			350,414		325,840
	Accumulated other comprehensive loss			(6,614)		(1,297)
		Total stockholders’ equity		533,572		524,427
Total liabilities and stockholders’ equity			$	564,824	$	559,670

Statements of Income
			Year Ended December 31,
(In thousands)			2016		2015		2014
Income:
	Cash dividends from subsidiary		$	43,975	$	42,580	$	19,530
	Other income			2,476		995		902
		Total income		46,451		43,575		20,432
Expenses:
	Interest			944		899		881
	Other expenses			1,139		1,123		1,060
		Total expenses		2,083		2,022		1,941
Income before income taxes and equity in undistributed income of subsidiary				44,368		41,553		18,491
Income tax expense (benefit)				78		(308)		(266)
		Income before equity in undistributed income of subsidiary		44,290		41,861		18,757
Equity in undistributed income of subsidiary				3,960		3,494		19,443
	Net income		$	48,250	$	45,355	$	38,200

Statements of Cash Flows
				Year Ended December 31,
(In thousands)				2016		2015		2014
Cash Flows from Operating Activities:
Net income				$	48,250	$	45,355	$	38,200
Adjustments to reconcile net income to net cash provided by operating activities:
		Equity in undistributed income-subsidiary			(3,960)		(3,494)		(19,443)
		Dividends receivable from subsidiary bank
		Share based compensation expense			2,139		1,979		1,452
		Other-net			3,213		10		(261)
			Net cash provided by operating activities		49,642		43,850		19,948
Cash Flows from Investing Activities:
	Purchase of investment available-for-sale				(7,000)		(2,600)		-
		Net cash used by investing activities			(7,000)		(2,600)		-
Cash Flows from Financing Activities:
	Retirement of subordinated debt				(5,000)		-		-
	Proceeds from issuance of common stock				897		487		394
	Tax benefit from stock options exercised				125		350		321
	Repurchase of common stock				(13,273)		(22,624)		(910)
	Dividends paid				(23,676)		(22,397)		(19,216)
		Net cash provided (used) by financing activities			(40,927)		(44,184)		(19,411)
Net increase (decrease) in cash and cash equivalents					1,715		(2,934)		537
Cash and cash equivalents at beginning of year					9,154		12,088		11,551
Cash and cash equivalents at end of year				$	10,869	$	9,154	$	12,088