Exhibit 99.1

    News release

FOR IMMEDIATE RELEASE

SANDY SPRING BANCORP REPORTS NET INCOME OF $15.1 MILLION FOR THE THIRD QUARTER

Bank Demonstrates Solid Performance in Advance of Acquisition of WashingtonFirst

OLNEY, MARYLAND, October 19, 2017 — Sandy Spring Bancorp, Inc., (Nasdaq-SASR), the parent company of Sandy Spring Bank, today reported net income for the third quarter of 2017 of $15.1 million ($0.62 per diluted share) compared to net income of $13.5 million ($0.56 per diluted share) for the third quarter of 2016 and net income of $14.7 million ($0.61 per diluted share) for the second quarter of 2017.

“Our solid core performance this quarter was once again driven by the loan and deposit growth that we’ve achieved over the past year. We continue to focus on building relationships with our clients and within the communities we serve to grow the company. We look forward to completing the acquisition of WashingtonFirst Bankshares, Inc. This acquisition will create the largest, locally headquartered community bank in the Greater Washington, D.C. region. It will expand access to the bank’s expertise and services, and ultimately benefit our clients and shareholders,” said Daniel J. Schrider, President and Chief Executive Officer.

Third Quarter Highlights:

· Total loans increased 11% compared to the third quarter of 2016 and 1% compared to the second quarter of 2017. The year-over-year increase was driven primarily by year-over-year growth of 15% in the commercial loan portfolio.

· Total deposits grew 12% from the prior year quarter and 2% from the prior quarter.

· The net interest margin was 3.54% for the third quarter of 2017, compared to 3.50% for the third quarter of 2016 and 3.60% for the second quarter of 2017. Net interest income from the second quarter of 2017 included $0.7 million from the full payoff of a previously acquired credit impaired loan. Exclusive of this non-core item, the previous quarter’s margin would have been 3.54%.

· Return on average common equity was 10.74% as compared to 10.11% from the prior year.

· The Non-GAAP efficiency ratio was 53.76% for the current quarter as compared to 56.33% for the third quarter of 2016 and 54.10% for the second quarter of 2017.

· Pre-tax, pre-provision income increased 17% compared with the third quarter of 2016.

Review of Balance Sheet and Credit Quality

At September 30, 2017, total assets were $5.3 billion, an 11% increase compared to $4.8 billion at September 30, 2016. Loan growth continues to be the driver of asset growth as total loans ended the period at $4.2 billion compared to $3.8 billion at September 30, 2016. The growth in the loan portfolio was funded primarily by a 12% increase in total deposits from September 30, 2016, to September 30, 2017.

Combined noninterest-bearing and interest-bearing checking account balances at September 30, 2017, an important performance driver of multiple-product banking relationships with clients, increased by 11% compared to balances at September 30, 2016.

Tangible common equity totaled $482 million at September 30, 2017, compared to $446 million at September 30, 2016. As a result of asset growth over the preceding 12 months, the ratio of tangible common equity to tangible assets decreased to 9.18% at September 30, 2017, from 9.43% at September 30, 2016. Dividends at $0.26 per common share were 8% higher in the third quarter of 2017 compared to the $0.24 per common share of third quarter of 2016. At September 30, 2017, the Company had a total risk-based capital ratio of 12.01%, a common equity tier 1 risk-based capital ratio of 10.99%, a tier 1 risk-based capital ratio of 10.99% and a tier 1 leverage ratio of 9.28%.

The level of non-performing loans to total loans decreased to 0.72% at September 30, 2017, compared to 0.85% at September 30, 2016, as a result of the growth in the loan portfolio and a reduction in non-performing loans. At September 30, 2017, non-performing loans totaled $30.2 million compared to $32.0 million at September 30, 2016, and $32.2 million at June 30, 2017. Non-performing loans include accruing loans 90 days or more past due and restructured loans.

Loan charge-offs, net of recoveries, totaled $1.1 million for the third quarter of 2017 compared to $0.2 million for the third quarter of 2016. The increase in charge-offs was the result of a commercial loan charge-off taken during the current quarter. The allowance for loan losses represented 1.07% of outstanding loans and 149% of non-performing loans at September 30, 2017, compared to 1.16% of outstanding loans and 137% of non-performing loans at September 30, 2016. The decline in the allowance to outstanding loans ratio is a reflection of improved credit quality and growth of the loan portfolio over the past year.

Income Statement Review

Net interest income for the third quarter of 2017 increased 13% compared to the third quarter of 2016 as average loans from quarter to quarter increased 12%. The net interest margin improved to 3.54% for the third quarter of 2017 compared to 3.50% for the third quarter of 2016. The margin improvement reflects the impact of loan growth, the cumulative benefits associated with the execution of funding strategies and higher yields associated with the investment portfolio.

The provision for loan losses was $0.9 million for the third quarter of 2017 compared to $0.8 million for the third quarter of 2016 and $1.3 million for the second quarter of 2017. The current quarter’s provision increase as compared to the prior year quarter was the result of qualitative adjustments related to composition and concentration of loan credits which offset the impact of lower quarterly loan growth in 2017 versus 2016.

Non-interest income increased to $12.7 million for the third quarter of 2017 compared to $12.6 million for the third quarter of 2016. Wealth management income for the third quarter of 2017 increased to $4.9 million or 12% as compared to $4.3 million for the third quarter of 2016. Insurance agency commissions increased 9% for the third quarter compared to same period of the prior year as a result last year’s agency acquisition. These results were offset by the $0.5 million decline in mortgage banking income from the prior year’s results as mortgage loan originations declined in the current quarter compared to the prior year.

Non-interest expenses increased 6% to $31.2 million for the third quarter of 2017 compared to $29.3 million in the third quarter of 2016. The increase in the current quarter compared to the prior year quarter was driven primarily by a $0.6 million increase in salary costs related to performance incentives and volume driven compensation costs, $0.3 million in merger related expenses and $0.6 million in other expenses. The non-GAAP efficiency ratio was 53.76% for the third quarter of 2017 compared to 56.33% for the third quarter of 2016 as a result of the growth in net interest income.

Net interest income for the first nine months of 2017 increased 13% compared to the first nine months of 2016 due primarily to an increase in average loans, which was funded primarily by an 11% increase in average deposits. As a result, the net interest margin was 3.55% for the first nine months of 2017 compared to 3.49% for the prior year period. Net interest income for the first nine months of 2017 included $0.7 million from the full payoff of a previously acquired credit impaired loan. Exclusive of this recovery the net interest margin would have been 3.54%.

The provision for loan losses was $2.5 million for the first nine months of 2017 compared to $5.0 million for the first nine months of 2016 primarily reflecting the growth in the loan portfolio over the prior year period offset by the effects of improved credit quality of the loan portfolio.

Non-interest income was $38.9 million for the first nine months of 2017 compared to $38.7 million for the first nine months of 2016. The first nine months of 2017 included gains of $1.3 million on sales of investment securities. The same prior year period included a $1.2 million gain on the extinguishment of subordinated debentures and $1.9 million in gains on the sales of investment securities. Excluding these gains, non-interest income increased 6% compared to the prior year period primarily due to increases in wealth management income, insurance agency commissions and other non-interest income.

Non-interest expenses increased 2% to $94.0 million for the first nine months of 2017 compared to $92.5 million for the prior year period. The nine months ended September 30, 2017, included increases from the prior year of $1.2 million in salaries and benefits, $0.5 million in FDIC insurance as a result of asset growth, and $1.3 million in merger expenses. These increases were partially offset by the decrease in prepayment penalties of $1.9 million for the early payoff of high-rate FHLB advances as compared to the nine months ended September 30, 2016. The non-GAAP efficiency ratio decreased to 54.21% for the first nine months of 2017 compared to 59.05% for the first nine months of 2016 as a direct result of the growth in net interest income.

Conference Call

The Company’s management will host a conference call to discuss its second quarter results today at 2:00 P.M. (ET). A live Webcast of the conference call is available through the Investor Relations’ section of the Sandy Spring Website at www.sandyspringbank.com. Participants may call 1-866-235-9910. A password is not necessary. Visitors to the Website are advised to log on 10 minutes ahead of the scheduled start of the call. An internet-based replay will be available at the Website until 9:00 am (ET) November 2, 2017. A replay of the teleconference will be available through the same time period by calling 1-877-344-7529 under conference call number 10112289.

About Sandy Spring Bancorp, Inc.

Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank. Independent and community-oriented, Sandy Spring Bank offers a broad range of commercial banking, retail banking, mortgage and trust services throughout central Maryland, Northern Virginia, and the greater Washington, D.C. market. Through its subsidiaries, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services. With $5.3 billion in assets, the bank operates 44 community offices and six financial centers across the region. Visit www.sandyspringbank.com for more information.

For additional information or questions, please contact:

Daniel J. Schrider, President & Chief Executive Officer, or

Philip J. Mantua, E.V.P. & Chief Financial Officer

Sandy Spring Bancorp

17801 Georgia Avenue

Olney, Maryland 20832

1-800-399-5919

Email: DSchrider@sandyspringbank.com

PMantua@sandyspringbank.com

Website: www.sandyspringbank.com

Media Contact:

Jen Schell

301-570-8331

jschell@sandyspringbank.com

Forward-Looking Statements

Sandy Spring Bancorp makes forward-looking statements in this news release and in the conference call regarding this news release. These forward-looking statements may include: statements of goals, intentions, earnings expectations, and other expectations; estimates of risks and of future costs and benefits; assessments of probable loan losses; assessments of market risk; and statements of the ability to achieve financial and other goals.

Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project” and other similar words and expressions. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Sandy Spring Bancorp does not assume any duty and does not undertake to update its forward-looking statements. Because forward-looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those that Sandy Spring Bancorp anticipated in its forward-looking statements and future results could differ materially from historical performance.

Sandy Spring Bancorp’s forward-looking statements are subject to the following principal risks and uncertainties: general economic conditions and trends, either nationally or locally; conditions in the securities markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of the Company’s loan or investment portfolios; changes in competitive pressures among financial institutions or from non-financial institutions; the Company’s ability to retain key members of management; changes in legislation, regulations, and policies; and a variety of other matters which, by their nature, are subject to significant uncertainties. Sandy Spring Bancorp provides greater detail regarding some of these factors in its Form 10-K for the year ended December 31, 2016, including in the Risk Factors section of that report, and in its other SEC reports. Sandy Spring Bancorp’s forward-looking statements may also be subject to other risks and uncertainties, including those that it may discuss elsewhere in this news release or in its filings with the SEC, accessible on the SEC’s Website at www.sec.gov.

Sandy Spring Bancorp, Inc. and Subsidiaries

FINANCIAL HIGHLIGHTS - UNAUDITED

	Three Months Ended									Nine Months Ended
	September 30,						%			September 30,						%
(Dollars in thousands, except per share data)	2017			2016			Change			2017			2016			Change
Results of Operations:
Net interest income	$	42,697		$	37,731			13	%	$	125,276		$	110,585			13	%
Provision for loan losses		934			781			20			2,450			4,974			(51	)
Non-interest income		12,746			12,584			1			38,949			38,698			1
Non-interest expenses		31,191			29,326			6			94,040			92,514			2
Income before income taxes		23,318			20,208			15			67,735			51,795			31
Net income		15,089			13,474			12			44,942			34,934			29
Pre-tax pre-provision income	$	24,597		$	20,989			17		$	71,517		$	56,769			26
Return on average assets		1.13	%		1.13	%					1.15	%		0.99	%
Return on average common equity		10.74	%		10.11	%					10.99	%		8.88	%
Net interest margin		3.54	%		3.50	%					3.55	%		3.49	%
Efficiency ratio - GAAP basis (1)		56.26	%		58.28	%					57.26	%		61.97	%
Efficiency ratio - Non-GAAP basis (1)		53.76	%		56.33	%					54.21	%		59.05	%
Per share data:
Basic net income	$	0.62		$	0.56			11	%	$	1.86		$	1.45			28	%
Diluted net income	$	0.62		$	0.56			11		$	1.86		$	1.45			28
Average fully diluted shares		24,223,004			24,122,923			-			24,201,448			24,151,622			-
Dividends declared per share	$	0.26		$	0.24			8		$	0.78		$	0.72			8
Book value per share		23.53			22.47			5			23.53			22.47			5
Tangible book value per share		20.07			18.66			8			20.07			18.66			8
Outstanding shares		23,990,370			23,886,651			-			23,990,370			23,886,651			-
Financial Condition at period-end:
Investment securities	$	795,922		$	691,471			15	%	$	795,922		$	691,471			15	%
Loans		4,194,118			3,780,507			11			4,194,118			3,780,507			11
Interest-earning assets		5,049,229			4,537,331			11			5,049,229			4,537,331			11
Assets		5,334,788			4,810,611			11			5,334,788			4,810,611			11
Deposits		3,955,792			3,537,157			12			3,955,792			3,537,157			12
Interest-bearing liabilities		3,422,568			3,087,135			11			3,422,568			3,087,135			11
Stockholders' equity		564,480			536,655			5			564,480			536,655			5
Capital ratios:
Tier 1 leverage (4)		9.28	%		10.25	%					9.28	%		10.25	%
Tier 1 capital to risk-weighted assets (4)		10.99	%		12.17	%					10.99	%		12.17	%
Total regulatory capital to risk-weighted assets (4)		12.01	%		13.29	%					12.01	%		13.29	%
Common equity tier 1 capital to risk-weighted assets (4)		10.99	%		11.41	%					10.99	%		11.41	%
Tangible common equity to tangible assets (2)		9.18	%		9.43	%					9.18	%		9.43	%
Average equity to average assets		10.52	%		11.17	%					10.50	%		11.18	%
Credit quality ratios:
Allowance for loan losses to loans		1.07	%		1.16	%					1.07	%		1.16	%
Non-performing loans to total loans		0.72	%		0.85	%					0.72	%		0.85	%
Non-performing assets to total assets		0.59	%		0.69	%					0.59	%		0.69	%
Allowance for loan losses to non-performing loans		148.73	%		137.41	%					148.73	%		137.41	%
Annualized net charge-offs to average loans (3)		0.10	%		0.02	%					0.05	%		0.07	%

(1) The efficiency ratio - GAAP basis is non-interest expenses divided by net interest income plus non-interest income from the Condensed Consolidated Statements of Income. The traditional efficiency ratio - Non-GAAP basis excludes intangible asset amortization from non-interest expense; securities gains (losses) from non-interest income; OTTI; and the tax-equivalent adjustment to net interest income.  See the Reconciliation Table included with these Financial Highlights.

(2) The tangible common equity to tangible assets ratio is a non-GAAP ratio that divides assets excluding intangible assets into stockholders' equity after deducting intangible assets and other comprehensive gains (losses).  See the Reconciliation Table included with these Financial Highlights.

(3) Calculation utilizes average loans, excluding residential mortgage loans held-for-sale.

(4) Estimated ratio at September 30, 2017

Sandy Spring Bancorp, Inc. and Subsidiaries

RECONCILIATION TABLE - UNAUDITED

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2017			2016			2017			2016
Pre-tax pre-provision income:
Net income	$	15,089		$	13,474		$	44,942		$	34,934
Plus non-GAAP adjustment:
Merger expenses		345			-			1,332			-
Income taxes		8,229			6,734			22,793			16,861
Provision for loan losses		934			781			2,450			4,974
Pre-tax pre-provision income	$	24,597		$	20,989		$	71,517		$	56,769
Efficiency ratio - GAAP basis:
Non-interest expenses	$	31,191		$	29,326		$	94,040		$	92,514
Net interest income plus non-interest income	$	55,443		$	50,315		$	164,225		$	149,283
Efficiency ratio - GAAP basis		56.26	%		58.28	%		57.26	%		61.97	%
Efficiency ratio - Non-GAAP basis:
Non-interest expenses	$	31,191		$	29,326		$	94,040		$	92,514
Less non-GAAP adjustment:
Amortization of intangible assets		25			34			76			94
Loss on FHLB Redemption		-			-			1,275			3,167
Merger expenses		345			-			1,332			-
Non-interest expenses -  as adjusted	$	30,821		$	29,292		$	91,357		$	89,253
Net interest income plus non-interest income	$	55,443		$	50,315		$	164,225		$	149,283
Plus non-GAAP adjustment:
Tax-equivalent income		1,888			1,688			5,585			4,993
Less non-GAAP adjustments:
Securities gains		-			-			1,275			1,919
Gain on redemption of subordinated debentures		-			-			-			1,200
Net interest income plus non-interest income - as adjusted	$	57,331		$	52,003		$	168,535		$	151,157
Efficiency ratio - Non-GAAP basis		53.76	%		56.33	%		54.21	%		59.05	%
Tangible common equity ratio:
Total stockholders' equity	$	564,480		$	536,655		$	564,480		$	536,655
Accumulated other comprehensive income		3,477			(4,465	)		3,477			(4,465	)
Goodwill		(85,768	)		(85,768	)		(85,768	)		(85,768	)
Other intangible assets, net		(604	)		(716	)		(604	)		(716	)
Tangible common equity	$	481,585		$	445,706		$	481,585		$	445,706
Total assets	$	5,334,788		$	4,810,611		$	5,334,788		$	4,810,611
Goodwill		(85,768	)		(85,768	)		(85,768	)		(85,768	)
Other intangible assets, net		(604	)		(716	)		(604	)		(716	)
Tangible assets	$	5,248,416		$	4,724,127		$	5,248,416		$	4,724,127
Tangible common equity ratio		9.18	%		9.43	%		9.18	%		9.43	%
Outstanding common shares		23,990,370			23,886,651			23,990,370			23,886,651
Tangible book value per common share	$	20.07		$	18.66		$	20.07		$	18.66

Sandy Spring Bancorp, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CONDITION  - UNAUDITED

	September 30,			December 31,			September 30,
(Dollars in thousands)	2017			2016			2016
Assets
Cash and due from banks	$	50,076		$	53,190		$	48,666
Federal funds sold		2,838			1,953			1,106
Interest-bearing deposits with banks		49,267			78,982			48,425
Cash and cash equivalents		102,181			134,125			98,197
Residential mortgage loans held for sale (at fair value)		7,084			13,222			15,822
Investments available-for-sale (at fair value)		756,069			733,554			655,642
Other equity securities		39,853			46,094			35,829
Total loans		4,194,118			3,927,808			3,780,507
Less: allowance for loan losses		(44,924	)		(44,067	)		(43,942	)
Net loans		4,149,194			3,883,741			3,736,565
Premises and equipment, net		54,108			53,562			53,356
Other real estate owned		1,448			1,911			1,274
Accrued interest receivable		16,045			14,589			13,123
Goodwill		85,768			85,768			85,768
Other intangible assets, net		604			680			716
Other assets		122,434			124,137			114,319
Total assets	$	5,334,788		$	5,091,383		$	4,810,611
Liabilities
Noninterest-bearing deposits	$	1,312,710		$	1,138,139		$	1,154,227
Interest-bearing deposits		2,643,082			2,439,405			2,382,930
Total deposits		3,955,792			3,577,544			3,537,157
Securities sold under retail repurchase agreements and federal funds purchased		146,569			125,119			124,205
Advances from FHLB		632,917			790,000			550,000
Subordinated debentures		-			30,000			30,000
Accrued interest payable and other liabilities		35,030			35,148			32,594
Total liabilities		4,770,308			4,557,811			4,273,956
Stockholders' Equity
Common stock -- par value $1.00; shares authorized 50,000,000; shares issued and outstanding 23,990,370,
23,901,084 and 23,886,651 at September 30, 2017, December 31, 2016 and September 30, 2016, respectively		23,990			23,901			23,887
Additional paid in capital		167,455			165,871			164,937
Retained earnings		376,512			350,414			343,366
Accumulated other comprehensive loss		(3,477	)		(6,614	)		4,465
Total stockholders' equity		564,480			533,572			536,655
Total liabilities and stockholders' equity	$	5,334,788		$	5,091,383		$	4,810,611

Sandy Spring Bancorp, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except per share data)	2017		2016		2017		2016
Interest Income:
Interest and fees on loans	$	43,891	$	38,224	$	126,861	$	111,358
Interest on loans held for sale		119		96		273		294
Interest on deposits with banks		108		49		289		156
Interest and dividends on investment securities:
Taxable		3,410		2,623		10,572		8,749
Exempt from federal income taxes		2,053		1,864		6,110		5,753
Interest on federal funds sold		8		1		18		3
Total interest income		49,589		42,857		144,123		126,313
Interest Expense:
Interest on deposits		3,701		2,128		9,212		6,006
Interest on retail repurchase agreements and federal funds purchased		83		74		238		212
Interest on advances from FHLB		3,108		2,699		9,385		8,812
Interest on subordinated debt		-		225		12		698
Total interest expense		6,892		5,126		18,847		15,728
Net interest income		42,697		37,731		125,276		110,585
Provision for loan losses		934		781		2,450		4,974
Net interest income after provision for loan losses		41,763		36,950		122,826		105,611
Non-interest Income:
Investment securities gains		-		-		1,275		1,919
Service charges on deposit accounts		2,140		2,035		6,121		5,894
Mortgage banking activities		632		1,129		2,080		2,770
Wealth management income		4,864		4,347		14,092		13,200
Insurance agency commissions		1,950		1,786		4,924		4,180
Income from bank owned life insurance		609		616		1,808		1,846
Bank card fees		1,211		1,189		3,609		3,498
Other income		1,340		1,482		5,040		5,391
Total non-interest income		12,746		12,584		38,949		38,698
Non-interest Expenses:
Salaries and employee benefits		18,442		17,848		54,525		53,299
Occupancy expense of premises		3,294		3,130		9,907		9,765
Equipment expenses		1,722		1,745		5,213		5,102
Marketing		784		628		2,223		1,971
Outside data services		1,286		1,349		4,045		4,067
FDIC insurance		850		726		2,478		2,012
Amortization of intangible assets		25		34		76		94
Merger expenses		345		-		1,332		-
Other expenses		4,443		3,866		14,241		16,204
Total non-interest expenses		31,191		29,326		94,040		92,514
Income before income taxes		23,318		20,208		67,735		51,795
Income tax expense		8,229		6,734		22,793		16,861
Net income	$	15,089	$	13,474	$	44,942	$	34,934
Net Income Per Share Amounts:
Basic net income per share	$	0.62	$	0.56	$	1.86	$	1.45
Diluted net income per share	$	0.62	$	0.56	$	1.86	$	1.45
Dividends declared per share	$	0.26	$	0.24	$	0.78	$	0.72

Sandy Spring Bancorp, Inc. and Subsidiaries

HISTORICAL TRENDS - QUARTERLY FINANCIAL DATA - UNAUDITED                             

	2017									2016
(Dollars in thousands, except per share data)	Q3			Q2			Q1			Q4			Q3			Q2			Q1
Profitability for the Quarter:
Tax-equivalent interest income	$	51,477		$	50,477		$	47,754		$	45,961		$	44,545		$	43,443		$	43,317
Interest expense		6,892			6,250			5,705			5,276			5,126			5,071			5,531
Tax-equivalent net interest income		44,585			44,227			42,049			40,685			39,419			38,372			37,786
Tax-equivalent adjustment		1,888			1,901			1,796			1,718			1,688			1,640			1,664
Provision for loan losses		934			1,322			194			572			781			2,957			1,236
Non-interest income		12,746			13,571			12,632			12,344			12,584			12,751			13,363
Non-interest expenses		31,191			32,868			29,981			30,544			29,326			30,871			32,317
Income before income taxes		23,318			21,707			22,710			20,195			20,208			15,655			15,932
Income tax expense		8,229			6,966			7,598			6,879			6,734			5,008			5,119
Net income	$	15,089		$	14,741		$	15,112		$	13,316		$	13,474		$	10,647		$	10,813
Financial Performance:
Pre-tax pre-provision income (2)	$	24,597		$	24,016		$	22,904		$	20,767		$	20,989		$	18,612		$	17,168
Return on average assets		1.13	%		1.14	%		1.20	%		1.09	%		1.13	%		0.92	%		0.93	%
Return on average common equity		10.74	%		10.80	%		11.45	%		9.92	%		10.11	%		8.21	%		8.29	%
Net interest margin		3.54	%		3.60	%		3.51	%		3.52	%		3.50	%		3.51	%		3.44	%
Efficiency ratio - GAAP basis (1)		56.26	%		58.80	%		56.69	%		59.53	%		58.28	%		62.39	%		65.31	%
Efficiency ratio - Non-GAAP basis (1)		53.76	%		54.10	%		54.78	%		57.54	%		56.33	%		59.12	%		61.84	%
Per Share Data:
Basic net income per share	$	0.62		$	0.61		$	0.63		$	0.55		$	0.56		$	0.45		$	0.45
Diluted net income per share	$	0.62		$	0.61		$	0.63		$	0.55		$	0.56		$	0.44		$	0.45
Average fully diluted shares		24,223,004			24,262,745			24,158,566			24,140,534			24,122,923			24,108,668			24,222,940
Dividends declared per common share	$	0.26		$	0.26		$	0.26		$	0.26		$	0.24		$	0.24		$	0.24
Non-interest Income:
Securities gains	$	-		$	1,273		$	2		$	13		$	-		$	150		$	1,769
Service charges on deposit accounts		2,140			2,017			1,964			2,059			2,035			1,956			1,903
Mortgage banking activities		632			840			608			1,279			1,129			1,106			535
Wealth management income		4,864			4,744			4,484			4,605			4,347			4,448			4,405
Insurance agency commissions		1,950			1,222			1,752			1,228			1,786			949			1,445
Income from bank owned life insurance		609			605			594			616			616			615			615
Bank card fees		1,211			1,253			1,145			1,176			1,189			1,220			1,089
Other income		1,340			1,617			2,083			1,368			1,482			2,307			1,602
Total Non-interest Income	$	12,746		$	13,571		$	12,632		$	12,344		$	12,584		$	12,751		$	13,363
Non-interest Expense:
Salaries and employee benefits	$	18,442		$	18,282		$	17,801		$	18,055		$	17,848		$	17,221		$	18,230
Occupancy expense of premises		3,294			3,211			3,402			3,195			3,130			3,162			3,473
Equipment expenses		1,722			1,767			1,724			1,781			1,745			1,693			1,664
Marketing		784			776			663			880			628			662			681
Outside data services		1,286			1,367			1,392			1,310			1,349			1,355			1,363
FDIC insurance		850			823			805			729			726			649			637
Amortization of intangible assets		25			25			26			36			34			28			32
Merger expenses		345			987			-			-			-			-			-
Professional fees		1,053			1,045			955			1,268			987			1,447			1,138
Other real estate owned expenses		4			(6	)		5			2			5			(5	)		17
Other expenses		3,386			4,591			3,208			3,288			2,874			4,659			5,082
Total Non-interest Expense	$	31,191		$	32,868		$	29,981		$	30,544		$	29,326		$	30,871		$	32,317

(1) The efficiency ratio - GAAP basis is non-interest expenses divided by net interest income plus non-interest income from the Condensed Consolidated Statements of Income. The traditional, efficiency ratio - non-GAAP basis excludes intangible asset amortization from non-interest expense; excludes securities gains; OTTI losses from non-interest income; and adds the tax-equivalent adjustment to net interest income.  See the Reconciliation Table included with these Financial Highlights.

(2) Pre-tax pre-provision income includes an adjustment to exclude the impact of merger expenses.

Sandy Spring Bancorp, Inc. and Subsidiaries

HISTORICAL TRENDS - QUARTERLY FINANCIAL DATA - UNAUDITED

	2017									2016
(Dollars in thousands)	Q3			Q2			Q1			Q4			Q3			Q2			Q1
Balance Sheets at Quarter End:
Residential mortgage loans	$	882,890		$	871,766		$	848,814		$	841,692		$	854,055		$	820,618		$	804,105
Residential construction loans		171,814			169,901			170,285			150,229			144,998			142,710			138,221
Commercial AD&C loans		295,222			314,259			309,350			308,279			302,522			285,585			261,204
Commercial investor real estate loans		1,104,669			1,069,988			979,410			928,113			847,946			824,252			783,161
Commercial owner occupied real estate loans		831,461			797,629			772,443			775,552			736,744			700,599			675,560
Commercial business loans		451,667			451,570			457,216			467,286			444,129			451,711			451,239
Consumer loans		456,395			458,058			455,478			456,657			450,113			447,149			447,198
Total loans		4,194,118			4,133,171			3,992,996			3,927,808			3,780,507			3,672,624			3,560,688
Allowance for loan losses		(44,924	)		(45,079	)		(43,861	)		(44,067	)		(43,942	)		(43,384	)		(41,766	)
Loans held for sale		7,084			5,743			17,717			13,222			15,822			13,490			27,806
Investment securities		795,922			821,491			855,707			779,648			691,471			734,828			742,401
Interest-earning assets		5,049,229			4,988,704			4,919,927			4,801,613			4,537,331			4,461,180			4,447,063
Total assets		5,334,788			5,270,521			5,201,164			5,091,383			4,810,611			4,739,449			4,716,608
Noninterest-bearing demand deposits		1,312,710			1,302,536			1,234,505			1,138,139			1,154,227			1,176,135			1,084,746
Total deposits		3,955,792			3,885,445			3,799,198			3,577,544			3,537,157			3,510,141			3,412,308
Customer repurchase agreements		146,569			127,312			141,244			125,119			124,205			117,887			121,043
Total interest-bearing liabilities		3,422,568			3,380,221			3,380,937			3,384,524			3,087,135			2,996,893			3,073,605
Total stockholders' equity		564,480			554,683			544,261			533,572			536,655			529,479			522,392
Quarterly Average Balance Sheets:
Residential mortgage loans	$	880,782		$	860,081		$	847,896		$	848,399		$	836,452		$	811,705		$	807,443
Residential construction loans		172,921			169,130			157,152			148,248			147,602			142,854			134,708
Commercial AD&C loans		291,569			302,924			310,325			310,110			287,836			272,090			261,687
Commercial investor real estate loans		1,090,641			1,010,389			945,080			878,511			832,529			788,785			750,821
Commercial owner occupied real estate loans		808,802			776,279			774,964			750,679			717,371			684,907			677,786
Commercial business loans		459,779			454,724			462,444			452,195			446,123			453,459			460,903
Consumer loans		457,526			461,672			458,162			454,349			450,171			449,594			451,075
Total loans		4,162,020			4,035,199			3,956,023			3,842,491			3,718,084			3,603,394			3,544,423
Loans held for sale		7,093			7,077			7,402			12,454			10,207			8,326			14,036
Investment securities		813,179			842,837			818,287			703,574			709,527			739,132			810,593
Interest-earning assets		5,019,133			4,922,389			4,829,208			4,599,426			4,477,438			4,394,879			4,411,796
Total assets		5,297,368			5,202,398			5,111,698			4,878,660			4,747,020			4,664,343			4,685,747
Noninterest-bearing demand deposits		1,293,470			1,251,396			1,159,715			1,167,379			1,131,739			1,082,762			1,021,471
Total deposits		3,916,657			3,810,180			3,673,731			3,582,437			3,528,665			3,429,897			3,300,131
Customer repurchase agreements		133,145			132,552			128,485			128,471			120,702			122,597			110,862
Total interest-bearing liabilities		3,407,279			3,360,128			3,375,002			3,138,420			3,045,998			3,020,505			3,103,710
Total stockholders' equity		557,282			547,229			535,308			534,057			530,241			521,387			524,309
Financial Measures:
Average equity to average assets		10.52	%		10.52	%		10.47	%		10.95	%		11.17	%		11.18	%		11.19	%
Investment securities to earning assets		15.76	%		16.47	%		17.39	%		16.24	%		15.24	%		16.47	%		16.69	%
Loans to earning assets		83.06	%		82.85	%		81.16	%		81.80	%		83.32	%		82.32	%		80.07	%
Loans to assets		78.62	%		78.42	%		76.77	%		77.15	%		78.59	%		77.49	%		75.49	%
Loans to deposits		106.02	%		106.38	%		105.10	%		109.79	%		106.88	%		104.63	%		104.35	%
Capital Measures:
Tier 1 leverage  (1)		9.28	%		9.26	%		9.26	%		10.14	%		10.25	%		10.29	%		10.23	%
Tier 1 capital to risk-weighted assets (1)		10.99	%		10.96	%		11.02	%		11.74	%		12.17	%		12.42	%		12.74	%
Total regulatory capital to risk-weighted assets  (1)		12.01	%		12.00	%		12.06	%		12.80	%		13.29	%		13.57	%		13.86	%
Common equity tier 1 capital to risk-weighted assets (1)		10.99	%		10.96	%		11.02	%		11.01	%		11.41	%		11.63	%		11.79	%
Book value per share	$	23.53		$	23.13		$	22.74		$	22.32		$	22.47		$	22.18		$	21.92
Outstanding shares		23,990,370			23,983,997			23,930,165			23,901,084			23,886,651			23,874,650			23,827,305

(1) Estimated ratio at September 30, 2017

Sandy Spring Bancorp, Inc. and Subsidiaries

LOAN PORTFOLIO QUALITY DETAIL - UNAUDITED

	2017									2016
(Dollars in thousands)	September 30,			June 30,			March 31,			December 31,			September 30,			June 30,			March 31,
Non-Performing Assets:
Loans 90 days past due:
Commercial business	$	-		$	-		$	-		$	-		$	163		$	-		$	-
Commercial real estate:
Commercial AD&C		-			-			-			-			-			-			-
Commercial investor real estate		-			-			-			-			-			-			-
Commercial owner occupied real estate		-			424			-			-			-			-			-
Consumer		1			4			-			-			-			2			1
Residential real estate:
Residential mortgage		225			-			232			232			-			-			-
Residential construction		-			-			-			-			-			-			-
Total loans 90 days past due		226			428			232			232			163			2			1
Non-accrual loans:
Commercial business		6,091			6,807			4,849			5,833			4,140			4,263			3,741
Commercial real estate:
Commercial AD&C		137			137			137			137			137			137			147
Commercial investor real estate		5,589			6,934			7,970			8,107			9,189			8,868			7,885
Commercial owner occupied real estate		5,012			4,926			5,106			4,823			5,591			5,678			7,149
Consumer		3,152			3,111			3,058			2,859			2,726			2,600			2,715
Residential real estate:
Residential mortgage		7,345			7,101			6,908			7,257			7,321			6,186			9,329
Residential construction		182			187			189			195			199			202			412
Total non-accrual loans		27,508			29,203			28,217			29,211			29,303			27,934			31,378
Total restructured loans - accruing		2,471			2,569			2,409			2,489			2,512			3,420			4,716
Total non-performing loans		30,205			32,200			30,858			31,932			31,978			31,356			36,095
Other assets and real estate owned (OREO)		1,448			1,460			1,294			1,911			1,274			1,311			2,414
Total non-performing assets	$	31,653		$	33,660		$	32,152		$	33,843		$	33,252		$	32,667		$	38,509
	For the Quarter Ended,
	September 30,			June 30,			March 31,			December 31,			September 30,			June 30,			March 31,
(Dollars in thousands)	2017			2017			2017			2016			2016			2016			2016
Analysis of Non-accrual Loan Activity:
Balance at beginning of period	$	29,203		$	28,217		$	29,211		$	29,303		$	27,934		$	31,378		$	30,031
Non-accrual balances transferred to OREO		(411	)		(175	)		(113	)		(637	)		(38	)		-			-
Non-accrual balances charged-off		(1,127	)		(179	)		(391	)		(390	)		(245	)		(1,305	)		(274	)
Net payments or draws		(1,869	)		(1,804	)		(1,382	)		(1,547	)		(525	)		(4,810	)		(914	)
Loans placed on non-accrual		1,712			3,144			1,461			2,482			2,486			2,671			2,535
Non-accrual loans brought current		-			-			(569	)		-			(309	)		-			-
Balance at end of period	$	27,508		$	29,203		$	28,217		$	29,211		$	29,303		$	27,934		$	31,378
Analysis of Allowance for Loan Losses:
Balance at beginning of period	$	45,079		$	43,861		$	44,067		$	43,942		$	43,384		$	41,766		$	40,895
Provision for loan losses		934			1,322			194			572			781			2,957			1,236
Less loans charged-off, net of recoveries:
Commercial business		1,029			107			260			285			95			106			67
Commercial real estate:
Commercial AD&C		-			(103	)		-			(18	)		(22	)		-			48
Commercial investor real estate		(10	)		(78	)		(5	)		(9	)		(12	)		(107	)		192
Commercial owner occupied real estate		5			-			-			-			(1	)		(1	)		(3	)
Consumer		103			189			167			177			145			364			54
Residential real estate:
Residential mortgage		(32	)		(3	)		(16	)		18			24			989			15
Residential construction		(6	)		(8	)		(6	)		(6	)		(6	)		(12	)		(8	)
Net charge-offs		1,089			104			400			447			223			1,339			365
Balance at end of period	$	44,924		$	45,079		$	43,861		$	44,067		$	43,942		$	43,384		$	41,766
Asset Quality Ratios:
Non-performing loans to total loans		0.72	%		0.78	%		0.77	%		0.81	%		0.85	%		0.85	%		1.01	%
Non-performing assets to total assets		0.59	%		0.64	%		0.62	%		0.66	%		0.69	%		0.69	%		0.82	%
Allowance for loan losses to loans		1.07	%		1.09	%		1.10	%		1.12	%		1.16	%		1.18	%		1.17	%
Allowance for loan losses to non-performing loans		148.73	%		140.00	%		142.14	%		138.00	%		137.41	%		138.36	%		115.72	%
Annualized net charge-offs to average loans		0.10	%		0.01	%		0.04	%		0.05	%		0.02	%		0.15	%		0.04	%

Sandy Spring Bancorp, Inc. and Subsidiaries

CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES - UNAUDITED

	Three Months Ended September 30,
				2017								2016
						Annualized								Annualized
	Average			(1)		Average			Average			(1)		Average
(Dollars in thousands and tax-equivalent)	Balances			Interest		Yield/Rate			Balances			Interest		Yield/Rate
Assets
Residential mortgage loans	$	880,782		$	7,772		3.53	%	$	836,452		$	7,208		3.45	%
Residential construction loans		172,921			1,641		3.77			147,602			1,341		3.62
Total mortgage loans		1,053,703			9,413		3.57			984,054			8,549		3.47
Commercial AD&C loans		291,569			3,705		5.04			287,836			3,398		4.70
Commercial investor real estate loans		1,090,641			12,279		4.47			832,529			9,487		4.53
Commercial owner occupied real estate loans		808,802			9,492		4.66			717,371			8,581		4.76
Commercial business loans		459,779			5,252		4.53			446,123			4,863		4.34
Total commercial loans		2,650,791			30,728		4.60			2,283,859			26,329		4.59
Consumer loans		457,526			4,395		3.84			450,171			3,916		3.48
Total loans (2)		4,162,020			44,536		4.25			3,718,084			38,794		4.16
Loans held for sale		7,093			119		6.69			10,207			96		3.75
Taxable securities		512,420			3,531		2.76			432,706			2,717		2.51
Tax-exempt securities (3)		300,759			3,175		4.22			276,821			2,888		4.17
Total investment securities		813,179			6,706		3.30			709,527			5,605		3.16
Interest-bearing deposits with banks		34,007			108		1.26			38,773			49		0.51
Federal funds sold		2,834			8		1.16			847			1		0.49
Total interest-earning assets		5,019,133			51,477		4.08			4,477,438			44,545		3.96
Less:  allowance for loan losses		(45,546	)							(43,498	)
Cash and due from banks		48,221								45,210
Premises and equipment, net		53,938								53,162
Other assets		221,622								214,708
Total assets	$	5,297,368							$	4,747,020
Liabilities and Stockholders' Equity
Interest-bearing demand deposits	$	615,250			135		0.09	%	$	579,863			112		0.08	%
Regular savings deposits		326,827			57		0.07			305,077			48		0.06
Money market savings deposits		1,002,779			1,479		0.59			938,528			514		0.22
Time deposits		678,331			2,030		1.19			573,458			1,454		1.01
Total interest-bearing deposits		2,623,187			3,701		0.56			2,396,926			2,128		0.35
Other borrowings		133,145			83		0.25			120,702			74		0.24
Advances from FHLB		650,947			3,108		1.89			498,370			2,699		2.15
Subordinated debentures		-			-		-			30,000			225		3.00
Total interest-bearing liabilities		3,407,279			6,892		0.80			3,045,998			5,126		0.67
Noninterest-bearing demand deposits		1,293,470								1,131,739
Other liabilities		39,337								39,042
Stockholders' equity		557,282								530,241
Total liabilities and stockholders' equity	$	5,297,368							$	4,747,020
Net interest income and spread				$	44,585		3.28	%				$	39,419		3.29	%
Less: tax-equivalent adjustment					1,888								1,688
Net interest income				$	42,697							$	37,731
Interest income/earning assets							4.08	%							3.96	%
Interest expense/earning assets							0.54								0.46
Net interest margin							3.54	%							3.50	%

(1) Tax-equivalent income has been adjusted using the combined marginal federal and state rate of 39.88% for 2017 and 2016. The annualized taxable-equivalent adjustments utilized in the above table to compute yields aggregated to $1.9 million and $1.7 million in 2017 and 2016, respectively.

(2) Non-accrual loans are included in the average balances.

(3) Includes only investments that are exempt from federal taxes.

Sandy Spring Bancorp, Inc. and Subsidiaries

CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES - UNAUDITED

	Nine Months Ended September 30,
				2017								2016
						Annualized								Annualized
	Average			(1)		Average			Average			(1)		Average
(Dollars in thousands and tax-equivalent)	Balances			Interest		Yield/Rate			Balances			Interest		Yield/Rate
Assets
Residential mortgage loans	$	863,040		$	22,651		3.50	%	$	818,599		$	21,010		3.42	%
Residential construction loans		166,459			4,656		3.74			141,743			3,804		3.59
Total mortgage loans		1,029,499			27,307		3.54			960,342			24,814		3.45
Commercial AD&C loans		301,537			11,126		4.93			273,922			9,511		4.64
Commercial investor real estate loans		1,015,903			33,978		4.47			790,864			27,087		4.57
Commercial owner occupied real estate loans		786,805			28,501		4.84			693,442			24,946		4.81
Commercial business loans		458,973			15,321		4.46			453,468			14,819		4.37
Total commercial loans		2,563,218			88,926		4.64			2,211,696			76,363		4.61
Consumer loans		459,118			12,496		3.67			450,280			11,691		3.49
Total loans (2)		4,051,835			128,729		4.25			3,622,318			112,868		4.16
Loans held for sale		7,189			273		5.06			10,854			294		3.61
Taxable securities		526,931			10,944		2.77			470,987			9,073		2.57
Tax-exempt securities (3)		297,818			9,455		4.23			281,938			8,912		4.21
Total investment securities		824,749			20,399		3.30			752,925			17,985		3.19
Interest-bearing deposits with banks		38,006			289		1.02			41,433			156		0.50
Federal funds sold		2,493			18		0.97			688			3		0.48
Total interest-earning assets		4,924,272			149,708		4.06			4,428,218			131,306		3.96
Less:  allowance for loan losses		(44,324	)							(42,215	)
Cash and due from banks		48,184								46,255
Premises and equipment, net		53,680								53,318
Other assets		222,682								214,284
Total assets	$	5,204,494							$	4,699,860
Liabilities and Stockholders' Equity
Interest-bearing demand deposits	$	613,498			372		0.08	%	$	578,473			335		0.08	%
Regular savings deposits		322,683			163		0.07			297,944			137		0.06
Money market savings deposits		992,069			3,333		0.45			914,499			1,446		0.21
Time deposits		637,478			5,344		1.12			550,195			4,088		0.99
Total interest-bearing deposits		2,565,728			9,212		0.48			2,341,111			6,006		0.34
Other borrowings		131,412			238		0.24			118,105			212		0.24
Advances from FHLB		683,231			9,385		1.84			565,493			8,812		2.08
Subordinated debentures		549			12		2.93			31,989			698		2.91
Total interest-bearing liabilities		3,380,920			18,847		0.75			3,056,698			15,728		0.69
Noninterest-bearing demand deposits		1,235,350								1,078,851
Other liabilities		41,537								38,981
Stockholders' equity		546,687								525,330
Total liabilities and stockholders' equity	$	5,204,494							$	4,699,860
Net interest income and spread				$	130,861		3.31	%				$	115,578		3.27	%
Less: tax-equivalent adjustment					5,585								4,993
Net interest income				$	125,276							$	110,585
Interest income/earning assets							4.06	%							3.96	%
Interest expense/earning assets							0.51								0.47
Net interest margin							3.55	%							3.49	%

(1) Tax-equivalent income has been adjusted using the combined marginal federal and state rate of 39.88% for 2017 and 2016. The annualized taxable-equivalent adjustments utilized in the above table to compute yields aggregated to $5.6 million and $5.0 million in 2017 and 2016, respectively.

(2) Non-accrual loans are included in the average balances.

(3) Includes only investments that are exempt from federal taxes.