Olney-based Sandy Spring Bancorp, parent of Sandy Spring Bank, said Tuesday it will record a $2.3 million charge in its third-quarter earnings associated with its equipment leasing business.
The company said the charge was related to “impairment of goodwill” associated with its subsidiary The Equipment Leasing Co., and would affect third-quarter earnings by 8 cents per share after taxes.
However, Sandy Spring Bancorp said Sandy Spring Bank remains in the highest regulatory category of “well capitalized,” as of Sept. 30.
