Sandy Spring Bancorp Inc. (NASDAQ:SASR) Q4 2022 Earnings Conference Call January 26, 2023 2:00 PM ET

Company Participants

Daniel Schrider - Chair, President and Chief Executive Officer

Aaron Kaslow - General Counsel and Chief Administrative Officer

Phil Mantua - Executive Vice President and Chief Financial Officer

Conference Call Participants

Casey Whitman - Piper Sandler

Catherine Mealor - KBW

Manuel Navas - D.A Davidson

Operator

Good afternoon. Thank you for attending the Sandy Spring Bancorp Earnings Conference Call and Webcast for the Fourth Quarter of 2022. My name is Matt, and I will be your moderator for today's call. [Operator Instructions]

I would now like to pass the conference over to our host, Daniel Schrider, President and CEO. Daniel, please go ahead.

Daniel Schrider

Thank you, Matt. And good afternoon everyone. Thank you for joining us for our conference call to discuss Sandy Spring Bancorp's performance for the fourth quarter of 2022. As Matt mentioned, this is Dan Schrider speaking and I'm joined here by my colleagues, Phil Mantua, Chief Financial Officer; and Aaron Kaslow, General Counsel and Chief Administrative Officer.

Today's call is open to all investors, analysts, and the media. There is a live webcast of today's call and a replay will be made available later on our website. But before we get started, covering highlights from the quarter and then taking your questions, Aaron will give the customary Safe Harbor statement. Aaron?

Aaron Kaslow

Thank you, Dan. Good afternoon, everyone. Sandy Spring Bancorp will make forward-looking statements in this webcast that are subject to risks and uncertainties. These forward-looking statements include statements of goals, intentions, earnings, and other expectations, estimates of risks and future costs and benefits, assessments of expected credit losses, assessments of market risk, and statements of the ability to achieve financial and other goals.

These forward-looking statements are subject to significant uncertainties because they are based upon or affected by management's estimates and projections of future interest rates, market behavior, other economic conditions, future laws and regulations, and a variety of other matters, which by their very nature are subject to significant uncertainties. Because of these uncertainties, Sandy Spring Bancorp's actual future results may differ materially from those indicated. In addition, the Company's past results of operations do not necessarily indicate its future results.

Daniel Schrider

Thank you, Aaron. And thank you all again for being on the line today to discuss our fourth quarter and annual performance. As you read in our press release and I shared last quarter, we're managing through what continues to be pretty challenging operating environment including high inflation, these rapid increases in interest rates we've experienced and a continual threat of recessionary pressures. And while the economic forecasts as well as the probability of recession are driving the provision for credit losses, we are not seeing any trends that indicate that our credit quality is on the edge of deterioration.