SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 26, 2003
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Sandy Spring Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Maryland 0-19065 52-1532952
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(State or other jurisdiction (Commission file (IRS Employer
of incorporation) number) Identification Number)
17801 Georgia Avenue, Olney, Maryland 20832
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (301) 774-6400
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Item 5. Other Events.
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On March 26, 2003, the Board of Directors of Sandy Spring Bancorp, Inc.
("Bancorp") authorized the repurchase of up to an additional 5% of the
14,536,094 outstanding shares of Bancorp common stock, par value $1.00 per
share, in connection with shares expected to be issued pursuant to Bancorp's
stock option and employee benefit plans and for other corporate purposes. The
share repurchases would be made on the open market and in privately negotiated
transactions, from time to time until March 31, 2005, or earlier termination of
the program by the Board. Bancorp's previous repurchase program expires on March
31, 2003. For additional information, see the News Release included as Exhibit
99.
Item 7. Financial Statements and Exhibits.
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(a) Exhibit 99 - News Release dated March 27, 2003.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SANDY SPRING BANCORP, INC.
By: Hunter R. Hollar
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Hunter R. Hollar
President and
Chief Executive Officer
Dated : March 27, 2003