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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): December 21, 2000
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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 December 21, 2000, Sandy Spring National Bank of Maryland, a subsidiary
of Sandy Spring Bancorp, Inc., announced today that it had reached an agreement
to purchase certain assets of The Equipment Leasing Company (ELC) located in
Sparks, Maryland, for cash consideration, and to assume certain related
liabilities. ELC is a division of Progress Leasing Company headquartered in Blue
Bell, Pennsylvania. In the acquisition, Sandy Spring National Bank expects to
acquire approximately $30 million in lease receivables. The acquisition, subject
to regulatory review, is expected to be completed by the end of January 2001.
For additional information, see the Press Release included as Exhibit 99.
Item 7. Financial Statements and Exhibits.
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(a) Exhibit 99 - Press Release dated December 21, 1999
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: /s/ James H. Langmead
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James H. Langmead,
Vice President and
Treasurer
Dated : December 26, 2000
