Sandy Spring Bancorp Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net interest income of $32,350,000 against $30,920,000 a year ago. Income before income taxes was $14,118,000 against $14,780,000 a year ago. Net income was $9,613,000 against $9,881,000 a year ago. Return on average assets was 0.93% against 1.01% a year ago. Return on average common equity was 7.71% against 8.14% a year ago. Diluted net income per share was $0.38 against $0.40 a year ago. The resulting increase in net interest income was due to an increase in average interest-earning assets and lower funding costs, that somewhat offset the decline in asset yields.

For the year, the company reported net interest income of $129,914,000 against $121,219,000 a year ago. Income before income taxes was $66,985,000 against $54,599,000 a year ago. Net income was $44,422,000 against $36,554,000 a year ago. Return on average assets was 1.11% against $0.97% a year ago. Return on average common equity was 9.11% against 7.85% a year ago. Diluted net income per share was $1.77 against $1.48 a year ago. Book value per share as on December 31, 2013, was $19.98 against $15.43 a year ago. Tangible book value per share was $16.68 against $15.43 a year ago.

The company announced net charge-offs for the fourth quarter ended December 31, 2013. For the quarter, the company reported net charge-offs of $1,242,000 against $1,789,000 a year ago.