Sandy Spring Bancorp Inc. is expected to report first-quarter earnings a nickel short of the average analyst estimate.
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The $2.6 billion-asset Olney, Md., company said Friday it expects to report net income of $7.5 million, or 49 cents a share. It earned $8.3 million, or 56 cents a share, in the same period last year, and analysts polled by Thomson Financial had expected it on average to post earnings of 54 cents.
Sandy Spring attributed the profit decline in part to $400,000 of merger costs relating to the February acquisition of Potomac Bank of Virginia.
