Sandy Spring Bancorp, Inc. Financial Ratios — SASR Stock

Profitability (USD)

	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
As of date	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024

Return on Common Equity (%)	8	14.09	13.65	15.07	12	13.38	13.32	13.7	22.93	22.66	16.79	34.04	20.05	13.46	2.16
Return on Assets (%)	0.66	0.94	0.95	1.1	0.9	1	0.99	1.01	1.47	1.38	0.9	1.85	1.26	0.88	0.14
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	4.82	4.79	4.67	4.52	4.06	3.88	3.97	3.63	3.91	4	4.29	2.77	2.4	5.25	6.5
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	20.43	31.93	32.47	37.75	31.62	35.82	35.89	39.97	41.4	45.66	26.85	59.49	44.9	39.14	12.11
Profit Margin (%)	14.76	21.8	21.74	25.04	21.65	24.11	24.05	24.18	31.47	34.78	20.92	44.88	33.58	29.29	4.93
Net Income to Common Margin (%)	10.9	21.8	21.74	25.04	21.65	24.11	24.05	24.18	31.47	34.78	20.92	44.88	33.58	29.29	4.93
Effective Tax Rate (%)	27.78	31.72	33.05	33.68	31.52	32.69	32.98	39.49	23.98	23.83	22.08	24.56	25.21	25.16	59.28
Dvd Payout Ratio (%)	-9.13	24.22	32.53	36.31	50.3	49.38	49.07	47.24	38.94	36.31	54.85	25.67	36.9	49.79	309.19
Sustainable Growth Rate (%)	8.73	10.67	9.21	9.6	5.96	6.77	6.78	7.23	14	14.43	7.58	25.3	12.65	6.76	-4.52

Credit (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
As of date	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024

Total Debt	441	440	440	650	690	720	820	766	886	723	606	173	920	921	621
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	441	440	440	650	690	720	820	766	886	723	606	173	920	921	621
Total Debt/EBITDA	57.35	58.82	56.08	81.04	96.41	98.56	103.04	96.02	70.79	53.98	30.5	11.89	77.29	41.84	23.64
Net Debt/EBITDA	49.37	49.29	45.13	71.82	83.03	88.65	86.43	82.27	62.73	43.09	15.57	-17.01	61.16	17.05	3.9
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.51	6.87	7.09	7.52	7.46	7.52	7.35	7.39	5.79	6.38	4.72	6.17	6.37	6.72	6.38
Long-Term Debt/Equity (%)	108.14	98.72	91.01	130.17	132.25	137.29	153.68	135.83	82.97	63.83	41.24	11.37	62.02	57.98	39.88
Long-Term Debt/Capital (%)	65.79	63.33	61.07	67.79	67.78	67.28	68.66	65.55	65	56.77	50.08	18.18	51.08	49.4	40.8
Long-Term Debt/Total Assets (%)	12.52	11.87	11.13	15.83	15.69	15.47	16.11	14.06	10.75	8.38	4.74	1.37	6.65	6.56	4.4
Total Debt/Equity (%)	108.14	98.72	91.01	130.17	132.25	137.29	153.68	135.83	82.97	63.83	41.24	11.37	62.02	57.98	39.88
Total Debt/Capital (%)	65.79	63.33	61.07	67.79	67.78	67.28	68.66	65.55	65	56.77	50.08	18.18	51.08	49.4	40.8
Total Debt/Total Assets (%)	12.52	11.87	11.13	15.83	15.69	15.47	16.11	14.06	10.75	8.38	4.74	1.37	6.65	6.56	4.4
Net Debt to Equity	93.1	82.74	73.24	115.36	113.9	123.49	128.91	116.38	73.52	50.95	21.05	-16.25	49.08	23.62	6.57
Net Debt/Capital (%)	62.35	59.14	55.8	65.09	64.44	64.91	64.76	61.98	62.2	51.18	33.86	-46.59	45.24	28.46	10.2
EBITDA	8	7	8	8	7	7	8	8	13	13	20	15	12	22	26
EBITDA-CapEx	4	3	3	6	-1	-1	2	1	2	8	15	15	12	22	26
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
As of date	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.51	6.87	7.09	7.52	7.46	7.52	7.35	7.39	5.79	6.38	4.72	6.17	6.37	6.72	6.38
Long-Term Debt/Equity (%)	108.14	98.72	91.01	130.17	132.25	137.29	153.68	135.83	82.97	63.83	41.24	11.37	62.02	57.98	39.88
Long-Term Debt/Capital (%)	65.79	63.33	61.07	67.79	67.78	67.28	68.66	65.55	65	56.77	50.08	18.18	51.08	49.4	40.8
Long-Term Debt/Total Assets (%)	12.52	11.87	11.13	15.83	15.69	15.47	16.11	14.06	10.75	8.38	4.74	1.37	6.65	6.56	4.4
Total Debt/Equity (%)	108.14	98.72	91.01	130.17	132.25	137.29	153.68	135.83	82.97	63.83	41.24	11.37	62.02	57.98	39.88
Total Debt/Capital (%)	65.79	63.33	61.07	67.79	67.78	67.28	68.66	65.55	65	56.77	50.08	18.18	51.08	49.4	40.8
Total Debt/Total Assets (%)	12.52	11.87	11.13	15.83	15.69	15.47	16.11	14.06	10.75	8.38	4.74	1.37	6.65	6.56	4.4
CFO/Total Liabilities	1.82	2.07	1.52	2.67	1.38	1.24	1.99	1.42	2.06	1.33	1.25	1.95	1.75	1.11	0.67
CFO/CapEx	15.54	16.91	12.05	40.63	6.27	5.97	15.61	9.33	14.2	19.41	28.17	- -	- -	- -	- -
Altman's Z-Score	0.18	0.18	0.19	0.22	0.21	0.21	0.23	0.23	0.19	0.22	0.16	0.23	0.19	0.18	0.19

Working Capital (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
As of date	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024

Accounts Receivable Turnover	12.16	12.29	13.3	14.24	14.02	14.43	14.31	14.63	15.99	13.98	13.29	12.97	13.12	9.56	8.77
Days Sales Outstanding	30.03	29.71	27.44	25.64	26.03	25.3	25.5	24.94	22.83	26.11	27.45	28.14	27.83	38.19	41.63
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
As of date	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024

Market Capitalization	255	267	309	470	449	474	712	714	874	1,094	1,203	1,965	1,428	1,161	1,519
- Cash & Cash Equivalents	61	71	86	74	96	72	132	110	101	146	297	420	192	546	519
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	441	440	440	650	690	720	820	766	886	723	606	173	920	921	621
Enterprise Value	600	-316	-162	295	371	530	666	641	722	598	165	253	942	433	481
Total Capital	670	695	721	959	1,018	1,070	1,194	1,168	1,363	1,274	1,210	950	1,802	1,864	1,523
Total Debt/Capital (%)	65.79	63.33	61.07	67.79	67.78	67.28	68.66	65.55	65	56.77	50.08	18.18	51.08	49.4	40.8
Total Debt / EV	0.73	-1.4	-2.71	2.2	1.86	1.36	1.23	1.19	1.23	1.21	3.68	0.68	0.98	2.13	1.29
EV/Sales	3.76	- -	- -	1.66	2.1	2.82	3.32	2.91	2.25	1.79	0.36	0.48	1.9	1.03	1.19
EV/EBITDA	78.06	- -	- -	36.77	51.87	72.49	83.75	80.38	57.66	44.67	8.29	17.39	79.1	19.68	18.29
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	10.59	- -	- -	3.07	6.92	10.35	7.36	9.24	4.89	5.99	1.16	1.17	4.35	3.14	5.74
EV/Free Cash Flow to Firm	9.95	- -	- -	2.99	5.97	8.86	6.92	8.34	4.57	5.69	1.12	1.17	4.35	3.14	5.74
Diluted Market Cap	255	268	311	472	452	475	713	715	874	1,095	1,203	1,965	1,428	1,164	1,525
Diluted Enterprise Value	634	637	665	1,048	1,047	1,123	1,401	1,371	1,659	1,673	1,513	1,718	2,156	1,539	1,627
EV per Share	26.94	- -	- -	11.82	14.87	21.48	27.62	26.51	20.18	16.7	3.72	5.37	20.9	9.66	10.67
TTM Sales	159	156	168	177	176	188	201	220	320	335	463	524	495	419	404
TTM EBITDA	8	7	8	8	7	7	8	8	13	13	20	15	12	22	26
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	57	68	53	96	54	51	90	69	148	100	142	216	216	138	84
TTM Free Cash Flow to Firm	60	72	57	99	62	60	96	77	158	105	147	216	216	138	84

Multiples (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
As of date	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024

Price/Free Cash Flow	4.22	3.74	5.44	4.8	7.27	7.95	7.4	9.3	5.53	10.42	8.18	9.08	6.6	8.44	18.21
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	600	-316	-162	295	371	530	666	641	722	598	165	253	942	433	481
Low Price	8.25	13.64	16.66	18.66	22.41	24.04	24.17	36.5	29.87	29.83	18	31.25	32.33	19.27	19.52
EV/Sales	3.76	- -	- -	1.66	2.1	2.82	3.32	2.91	2.25	1.79	0.36	0.48	1.9	1.03	1.19
EV/EBITDA	78.06	- -	- -	36.77	51.87	72.49	83.75	80.38	57.66	44.67	8.29	17.39	79.1	19.68	18.29
Price/Earnings	14.65	7.82	8.46	10.58	11.76	10.45	14.76	13.43	8.66	9.4	12.41	8.36	8.59	9.45	76.21
Price/Earnings Average	12.31	7.66	7.89	8.4	10.83	10.18	10.9	13.73	10.56	8.34	10.13	7.51	9.72	8.45	61.2
Price/Earnings High	24.04	14.04	13.34	16.54	18.72	16.3	20.43	20.75	15.56	11.79	17.56	10.26	14.1	13.1	89.41
Price/Earnings Low	10.58	9.61	11.18	10.48	14.65	13.07	12.08	16.59	10.59	9.18	8.22	6.25	8.76	7.03	44.13
Price/Book Value	1.11	1.05	1.1	1.52	1.37	1.35	1.9	1.78	1.83	1.99	1.99	2.53	1.62	1.23	1.68
Price/Book Value Average	0.93	1.02	1.03	1.21	1.26	1.32	1.4	1.82	2.23	1.76	1.63	2.27	1.83	1.1	1.35
Price/Book Value High	1.82	1.88	1.74	2.38	2.18	2.11	2.63	2.74	3.29	2.49	2.82	3.1	2.66	1.71	1.98
Price/Book Value Low	0.8	1.28	1.46	1.51	1.71	1.69	1.56	2.19	2.24	1.94	1.32	1.89	1.65	0.92	0.98
Price/Tangible Book Value	0.79	0.73	0.78	1.14	1.03	1.08	1.59	1.5	1.23	1.41	1.13	1.75	1.31	0.97	1.25
Price/Tangible Book Value Average	0.66	0.72	0.73	0.9	0.95	1.05	1.18	1.53	1.5	1.25	0.92	1.57	1.48	0.87	1
Price/Tangible Book Value High	1.29	1.31	1.23	1.78	1.64	1.68	2.2	2.31	2.21	1.77	1.6	2.15	2.14	1.35	1.46
Price/Tangible Book Value Low	0.57	0.9	1.03	1.13	1.28	1.35	1.3	1.85	1.5	1.37	0.75	1.31	1.33	0.72	0.72
Price/Sales	1.6	1.7	1.84	2.65	2.55	2.52	3.55	3.25	2.73	3.27	2.6	3.75	2.88	2.77	3.76
Price/Sales Average	1.34	1.67	1.71	2.1	2.35	2.45	2.62	3.32	3.32	2.9	2.12	3.37	3.26	2.48	3.02
Price/Sales High	2.62	3.06	2.9	4.14	4.05	3.93	4.91	5.02	4.9	4.1	3.67	4.61	4.74	3.84	4.41
Price/Sales Low	1.15	2.09	2.43	2.62	3.17	3.15	2.91	4.01	3.33	3.19	1.72	2.8	2.94	2.06	2.18
Price/Cash Flow	4.49	3.94	5.86	4.89	8.37	9.26	7.87	10.29	5.92	10.95	8.47	9.08	6.6	8.42	18.15
Price/Cash Flow Average	3.77	3.86	5.46	3.88	7.71	9.02	5.81	10.53	7.22	9.72	6.92	8.15	7.47	7.54	14.57
Price/Cash Flow High	7.37	7.07	9.23	7.64	13.32	14.45	10.89	15.9	10.63	13.74	11.99	11.15	10.84	11.68	21.29
Price/Cash Flow Low	3.24	4.84	7.74	4.84	10.43	11.58	6.44	12.72	7.24	10.69	5.61	6.79	6.74	6.27	10.51
Price/Free Cash Flow Average	3.55	3.66	5.07	3.81	6.69	7.74	5.47	9.52	6.74	9.25	6.68	8.15	7.47	7.56	14.63
Price/Free Cash Flow High	6.93	6.71	8.57	7.5	11.57	12.4	10.25	14.38	9.93	13.08	11.58	11.15	10.84	11.71	21.37
Price/Free Cash Flow Low	3.05	4.59	7.19	4.75	9.05	9.94	6.06	11.5	6.76	10.18	5.42	6.79	6.74	6.28	10.55
EV/Sales Average	3.72	4.03	3.82	5.35	5.71	5.9	6.05	6.3	5.77	4.63	2.79	2.9	4.73	3.37	3.27
EV/Sales High	5	5.42	5	7.39	7.42	7.37	8.34	8	7.35	5.83	4.34	4.13	6.21	4.73	4.66
EV/Sales Low	3.53	4.45	4.54	5.87	6.54	6.59	6.34	6.99	5.78	4.92	2.39	2.33	4.41	2.95	2.43
EV/EBITDA Average	77.19	84.16	81.87	118.35	140.84	151.84	152.5	173.88	147.87	115.6	65	104.51	196.9	64.24	50.31
EV/EBITDA High	103.7	113.24	107.25	163.45	182.94	189.88	210.3	220.66	188.1	145.58	101.23	149.13	258.15	90.17	71.71
EV/EBITDA Low	73.27	93.04	97.21	129.88	161.21	169.77	159.7	192.95	148.09	122.85	55.67	84.18	183.54	56.3	37.36
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	11.43	11.1	12.61	18.84	17.99	19.23	29.52	29.54	24.43	30.55	27.18	41.8	31.69	25.89	33.71
High Price	18.75	19.94	19.87	29.45	28.64	30	40.86	45.64	43.87	38.33	38.45	51.31	52.04	35.9	39.55
Enterprise Value Average	593	630	642	949	1,008	1,109	1,214	1,387	1,851	1,549	1,292	1,518	2,344	1,414	1,322
Enterprise Value High	797	848	842	1,311	1,309	1,387	1,674	1,760	2,354	1,950	2,012	2,166	3,073	1,984	1,885
Enterprise Value Low	563	697	763	1,042	1,154	1,240	1,271	1,539	1,854	1,646	1,106	1,222	2,185	1,239	982

Shares Outstanding	24	24	25	25	25	24	24	24	36	35	47	45	45	45	45
Diluted Weighted Avg Shares	22	24	25	25	25	25	24	24	36	36	44	47	45	45	45
Basic Weighted Avg Shares	22	24	25	25	25	25	24	24	36	36	44	47	45	45	45
Revenue per Share	7.16	6.51	6.86	7.11	7.07	7.63	8.31	9.1	8.96	9.34	10.47	11.14	10.99	9.35	8.97
EBITDA per Share	0.35	0.31	0.32	0.32	0.29	0.3	0.33	0.33	0.35	0.37	0.45	0.31	0.26	0.49	0.58
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.78	1.42	1.49	1.78	1.53	1.84	2	2.2	2.82	3.25	2.19	5	3.69	2.74	0.44
Basic EPS from Cont Ops	1.06	1.42	1.49	1.78	1.53	1.84	2	2.2	2.82	3.25	2.19	5	3.69	2.74	0.44
Diluted EPS, GAAP	0.78	1.41	1.48	1.77	1.52	1.84	2	2.2	2.82	3.25	2.19	5	3.69	2.73	0.44
Diluted EPS from Cont Ops	1.06	1.41	1.48	1.77	1.52	1.84	2	2.2	2.82	3.25	2.19	5	3.69	2.73	0.44
Dividend per Share	0.2	0.34	0.48	0.65	0.77	0.91	0.98	1.04	1.1	1.18	1.2	1.28	1.36	1.36	1.37
Cash Flow per Share	2.54	2.82	2.15	3.85	2.15	2.08	3.75	2.87	4.13	2.79	3.21	4.6	4.8	3.07	1.86
Free Cash Flow per Basic Share	2.38	2.65	1.97	3.76	1.81	1.73	3.51	2.56	3.84	2.65	3.09	4.6	4.8	3.07	1.86
Cash & Equivalents per Share	4.28	42.58	37.16	33.07	30.76	26.96	35.89	34.7	29.03	34.03	37.15	40.1	31.21	36.77	36.83
Book Value per Share	10.29	10.62	11.43	12.38	13.13	14.2	15.52	16.64	13.34	15.37	13.65	16.53	19.56	21.04	20.01
Tangible Book Value per Share	14.56	15.18	16.12	16.58	17.51	17.86	18.53	19.74	19.88	21.72	24.11	23.89	24.26	26.69	27.03

Sandy Spring Bancorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)