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): April 14, 2003

                           Sandy Spring Bancorp, Inc.
             (Exact name of registrant as specified in its charter)

         Maryland                         0-19065                52-1532952
(State or other jurisdiction      (Commission file number)     (IRS Employer
     of incorporation)                                             Number)

                   17801 Georgia Avenue, Olney, Maryland 20832
               (Address of Principal Executive Offices) (Zip Code)

        Registrant's telephone number, including area code: 301.774.6400

<PAGE>

Item 7. Financial Statements and Exhibits.

(a)      Exhibit 99 - News Release dated April 14, 2003.

Item 9. Regulation FD Disclosure.
Item 12. Results of Operations and Financial Condition.

The news release of Sandy Spring Bancorp, Inc. dated April 14, 2003, included as
Exhibit 99 is furnished to the  Securities  and Exchange  Commission  under both
Item 9 and Item 12 of this Form 8-K.

Non-GAAP Financial Measure.  Exhibit 99 includes  disclosure and discussion of a
traditional  efficiency ratio that is a non-GAAP financial measure as defined in
Commission Regulation G and Item 10 of Commission Regulation S-K. The issuer has
for many years used this traditional  efficiency ratio as a measure of operating
expense  control and  efficiency of  operations.  Management  believes that this
traditional ratio better focuses  attention on the operating  performance of the
issuer over time than does a GAAP based ratio, and is highly useful in comparing
period-to-period   operating   performance   of  the  Company's   core  business
operations.  It is  used  by  management  as  part  of  its  assessment  of  its
performance  in  managing   noninterest   expenses.   However  this  measure  is
supplemental,  and is not a substitute for an analysis of  performance  measures
based on  GAAP.  Exhibit  99 also  includes  disclosure  and  discussion  of the
GAAP-based  efficiency  ratio and the  differences  between the two ratios.  The
traditional efficiency ratio used by the issuer may not be comparable to GAAP or
non-GAAP efficiency ratios reported by other financial institutions.


<PAGE>

                                   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/ Hunter R. Hollar
                                                --------------------------------
                                                      Hunter R. Hollar
                                                      President and
                                                      Chief Executive Officer

Dated : April 14, 2003
[{"type": "8-K", "sequence": "1", "filename": "form8k.txt", "description": "FORM 8-K", "secsgml_size_bytes": 3220}]
{"company-data": {"conformed-name": "SANDY SPRING BANCORP INC", "cik": "0000824410", "assigned-sic": "6021", "irs-number": "520312970", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19065", "film-number": "03648747"}, "business-address": {"street1": "17801 GEORGIA AVE", "city": "OLNEY", "state": "MD", "zip": "20832", "phone": "3017746400"}, "mail-address": {"street1": "17801 GEORGIA AVENUE", "city": "OLNEY", "state": "MD", "zip": "20832"}}
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): April 14, 2003

                           Sandy Spring Bancorp, Inc.
             (Exact name of registrant as specified in its charter)

         Maryland                         0-19065                52-1532952
(State or other jurisdiction      (Commission file number)     (IRS Employer
     of incorporation)                                             Number)

                   17801 Georgia Avenue, Olney, Maryland 20832
               (Address of Principal Executive Offices) (Zip Code)

        Registrant's telephone number, including area code: 301.774.6400
Item 7. Financial Statements and Exhibits.

(a)      Exhibit 99 - News Release dated April 14, 2003.

Item 9. Regulation FD Disclosure.
Item 12. Results of Operations and Financial Condition.

The news release of Sandy Spring Bancorp, Inc. dated April 14, 2003, included as
Exhibit 99 is furnished to the  Securities  and Exchange  Commission  under both
Item 9 and Item 12 of this Form 8-K.

Non-GAAP Financial Measure.  Exhibit 99 includes  disclosure and discussion of a
traditional  efficiency ratio that is a non-GAAP financial measure as defined in
Commission Regulation G and Item 10 of Commission Regulation S-K. The issuer has
for many years used this traditional  efficiency ratio as a measure of operating
expense  control and  efficiency of  operations.  Management  believes that this
traditional ratio better focuses  attention on the operating  performance of the
issuer over time than does a GAAP based ratio, and is highly useful in comparing
period-to-period   operating   performance   of  the  Company's   core  business
operations.  It is  used  by  management  as  part  of  its  assessment  of  its
performance  in  managing   noninterest   expenses.   However  this  measure  is
supplemental,  and is not a substitute for an analysis of  performance  measures
based on  GAAP.  Exhibit  99 also  includes  disclosure  and  discussion  of the
GAAP-based  efficiency  ratio and the  differences  between the two ratios.  The
traditional efficiency ratio used by the issuer may not be comparable to GAAP or
non-GAAP efficiency ratios reported by other financial institutions.
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/ Hunter R. Hollar
                                                --------------------------------
                                                      Hunter R. Hollar
                                                      President and
                                                      Chief Executive Officer

Dated : April 14, 2003