Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Q4 2024 Results Conference Call January 23, 2024 2:00 PM ET

Company Participants

Daniel Schrider - Chief Executive Officer and President

Aaron Kaslow - General Counsel and Chief Administrative Officer

Philip Mantua - Executive Vice President and Chief Financial Officer

Conference Call Participants

Casey Whitman - Piper Sandler

Russell Gunther - Stephens Incorporated

Manuel Navas - D.A. Davidson

Operator

Good afternoon. Thank you for attending today's Sandy Spring Bancorp Inc. Earnings Conference Call and Webcast for the Fourth Quarter of 2023. My name is Megan and I'll be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. [Operator Instructions]

I would now like to pass the conference over to Daniel J. Schrider, CEO and President of Sandy Spring Bancorp. Daniel, please go ahead.

Daniel Schrider

Thank you, Megan, and good afternoon, everyone. Thank you for joining our call to discuss Sandy Spring Bancorp’s performance for the fourth quarter of 2023. This is Dan Schrider and I'm joined here by my colleagues, Phil Mantua, our 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 available on our website later today. Before we get started, covering highlights from the quarter and 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're 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

Thanks, Aaron. Once again, good afternoon, everyone, and thank you for joining today's call. I have to admit, I'm pleased to wrap up 2023 given the challenges our industry faced after the bank failures last spring, which resulted in rapid and significant increases to funding costs, we swiftly and effectively responded to our clients' needs. Despite the year's challenges, there were definitely some positive outcomes. We put an immediate emphasis on reaching out to our clients first to allay any fears, answer their questions, and then ultimately find solutions to meet their needs.