GlobeNewswire Inc | Dec 17, 2020 07:00AM EST

December 17, 2020

OLNEY, Md., Dec. 17, 2020 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc., (Nasdaq- SASR), the parent company of Sandy Spring Bank, today announced that the Companys board of directors has authorized the repurchase of up to 2,350,000 shares of the Company's common stock, or approximately 5% of currently outstanding shares. Repurchases, which will be conducted through open market purchases or privately negotiated transactions, will be made from time to time depending on market conditions and other factors.

About Sandy Spring Bancorp, Inc. / Sandy Spring BankSandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. Withover 65 locations, the bank offers a broad range ofcommercialandretail banking,mortgage,private banking, andtrustservices throughout Maryland, Northern Virginia, and Washington, D.C. Through its subsidiaries,Rembert Pendleton Jackson,Sandy Spring Insurance CorporationandWest Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu ofinsuranceandwealth management services.

For additional information or questions, please contact:Daniel J. Schrider, President & Chief Executive Officer, orPhilip J. Mantua, Executive Vice President & Chief Financial OfficerSandy Spring Bancorp17801 Georgia AvenueOlney, Maryland 208321-800-399-5919E-mail:DSchrider@sandyspringbank.com PMantua@sandyspringbank.com

Website: www.sandyspringbank.com

Media Contact:Sam PriceVice President, MarketingSandy Spring Bank301.260.3614sprice@sandyspringbank.com

Forward-Looking Statements

Sandy Spring Bancorps forward-looking statements are subject to the following principal risks and uncertainties: risks, uncertainties and other factors relating to the COVID-19 pandemic, including the length of time that the pandemic continues, the imposition or re-imposition of stay-at-home orders and restrictions on business activities or travel the effect of the pandemic on the general economy and on the businesses of our borrowers and their ability to make payments on their obligations; the remedial actions and stimulus measures adopted by federal, state and local governments; the inability of employees to work due to illness, quarantine, or government mandates; 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 Companys loan or investment portfolios; changes in competitive pressures among financial institutions or from non-financial institutions; the Companys ability to retain key members of management; changes in legislation, regulations, and policies; the possibility that any of the anticipated benefits of acquisitions will not be realized or will not be realized within the expected time period; 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, 2019, including in the Risk Factors section of that report, and in its other SEC reports. Sandy Spring Bancorps 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 SECs Web site at www.sec.gov.