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SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Currently, the Company conducts business in two operating segments - Community Banking and Investment Management. Each of the operating segments is a strategic business unit that offers different products and services. The Investment Management segment was a business acquired in a separate transaction where management of the acquired business was retained. The accounting policies of the segments are the same as those of the Company. However, the segment data reflects inter-segment transactions and balances.

The Community Banking segment is conducted through Sandy Spring Bank and involves delivering a broad range of financial products and services, including various loan and deposit products, to both individuals and businesses. Parent company income and assets are included in the Community Banking segment, as the majority of parent company functions are related to this segment. Beginning on April 1, 2020, the Community Banking segment includes the impact from the Revere acquisition. Major revenue sources include net interest income, gains on sales of mortgage loans, trust income fees and service charges on deposit accounts. Expenses include personnel, occupancy, marketing, equipment and other expenses. Non-cash charges associated with amortization of intangibles related to the acquired entities in the Community Banking segment totaled $4.1 million, $4.7 million and $4.3 million for the years ended December 31, 2022, December 31, 2021 and December 31, 2020, respectively.
Prior to June 2022, the Company operated the Insurance segment through Sandy Spring Insurance Corporation, a subsidiary of the Bank. Effective June 1, 2022, the Company sold substantially all of the assets of Sandy Spring Insurance Corporation to a leading global insurance brokerage and financial services firm. Results of operations of the Insurance segment are presented in the table below.

The Investment Management segment is conducted through West Financial and RPJ, subsidiaries of the Bank. These asset management and financial planning firms, located in McLean, Virginia and Falls Church, Virginia, respectively, provide comprehensive investment management and financial planning to individuals, families, small businesses and associations, including cash flow analysis, investment review, tax planning, retirement planning, insurance analysis and estate planning. West Financial and RPJ had approximately $3.5 billion in combined assets under management. Major revenue sources include non-interest income earned on the above services. Expenses include personnel, occupancy, support charges and other expenses. Non-cash charges associated with amortization of intangibles related to the acquired entities were $1.7 million, $1.9 million, and $1.9 million for the years ended December 31, 2022, December 31, 2021 and December 31, 2020, respectively.
Information for the operating segments and reconciliation of the information to the consolidated financial statements for the years ended December 31 is presented in the following tables:

2022

(In thousands)		Community
Banking
Insurance		Investment
Management		Inter-Segment
Elimination
Total
Interest income$495,665 $123 $11 $(132)$495,667 
Interest expense68,795 — — (132)68,663 
Provision for credit losses34,372 — — — 34,372 
Non-interest income62,424 19,449 21,926 (16,780)87,019 
Non-interest expenses238,953 3,755 15,304 (719)257,293 
Income before income taxes215,969 15,817 6,633 (16,061)222,358 
Income tax expense49,670 4,472 1,917 — 56,059 
Net income$166,299 $11,345 $4,716 $(16,061)$166,299 
Assets$13,853,476 $17,777 $54,207 $(92,341)$13,833,119 
2021
(In thousands)Community
Banking
Insurance		Investment
Management		Inter-Segment
Elimination
Total
Interest income$450,284 $2 $10 $(12)$450,284 
Interest expense25,778 — — (12)25,766 
Provision for credit losses(45,556)— — — (45,556)
Non-interest income80,077 7,011 22,378 (7,411)102,055 
Non-interest expenses240,996 5,869 14,473 (868)260,470 
Income before income taxes309,143 1,144 7,915 (6,543)311,659 
Income tax expense74,036 339 2,177 — 76,552 
Net income$235,107 $805 $5,738 $(6,543)$235,107 
Assets$12,590,176 $9,110 $59,099 $(67,659)$12,590,726 
2020

(In thousands)		Community
Banking
Insurance		Investment
Management		Inter-Segment
Elimination
Total
Interest income$423,560 $6 $7 $(13)$423,560 
Interest expense60,414 — — (13)60,401 
Provision for credit losses85,669 — — — 85,669 
Non-interest income78,940 6,810 17,831 (865)102,716 
Non-interest expenses237,910 5,686 13,051 (865)255,782 
Income before income taxes118,507 1,130 4,787 — 124,424 
Income tax expense25,907 313 1,251 — 27,471 
Net income$92,600 $817 $3,536 $— $96,953 
Assets$12,800,537 $11,335 $57,768 $(71,211)$12,798,429