Sandy Spring Bancorp Inc. Redeems Remaining Preferred Stock Issued Under U.S. Treasury's Capital Purchase

Sandy Spring Bancorp, Inc. SASR today announced that it has redeemed all remaining shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, it sold to the U.S. Department of the Treasury on December 5, 2008 as part of the Capital Purchase Program established by the Treasury under the Emergency Economic Stabilization Act of 2008. The Company paid $41,720,112.50 to the Treasury to redeem the Preferred Stock, consisting of $41,547,000 of principal and $173,112.50 of accrued and unpaid dividends on December 15, 2010. The Company previously redeemed half of Treasury's investment on July 21, 2010.