<html>
<head><title>
Prepared and filed by St Ives Financial
</title>
</head>
<body bgcolor="#FFFFFF">
<page>
<p align="center"><font size="2" face="serif"><b>UNITED STATES</b></font><br>
<font size="2" face="serif"><b>SECURITIES AND EXCHANGE COMMISSION</b></font><br>
<font size="2" face="serif">Washington, DC  20549</font></p>
<p align="center"><font size="2" face="serif"><b>FORM 8-K</b></font></p>
<p align="center"><font size="2" face="serif">CURRENT REPORT</font></p>
<p align="center"><font size="2" face="serif">Pursuant to Section 13 or 15(d) of the</font><br>
<font size="2" face="serif">Securities Exchange Act of 1934</font></p>
<p align="center"><font size="2" face="serif">Date of Report (Date of earliest event reported): April 18, 2006</font></p>
<p align="center"><font size="2" face="serif"><b>SANDY SPRING BANCORP, INC.</b></font><br>
<font size="2" face="serif">(Exact name of registrant as specified in its charter)</font></p>
<table width="100%" border="0">
  <tr align="center">
    <td width="33%"><font size="2" face="serif">Maryland</font><br>
<font size="2" face="serif">(State or other jurisdiction</font><br>
<font size="2" face="serif">of incorporation)</font></td>
    <td><font size="2" face="serif">000-19065</font><br>
<font size="2" face="serif">(Commission file</font><br>
<font size="2" face="serif">number)</font></td>
    <td width="33%"><font size="2" face="serif">52-1532952</font><br>
<font size="2" face="serif">(IRS Employer</font><br>
<font size="2" face="serif">Identification No)</font></td>
  </tr>
</table>
<p align="center"><font size="2" face="serif">17801 Georgia Avenue, Olney, Maryland  20832</font><br>
<font size="2" face="serif">(Address of Principal Executive Offices)     (Zip Code)</font></p>
<p align="center"><font size="2" face="serif">Registrant's telephone number, including area code:  (301) 774-6400</font></p>
<p align="left"><font size="2" face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<p align="left"><font size="2" face="serif"><b>Item 2.02. Results of Operations and Financial Condition.</b></font><br>
<font size="2" face="serif"><b>Item 7.01 Regulation FD Disclosure.</b></font></p>
<p align="left"><font size="2" face="serif">The following information is furnished to the Securities and Exchange Commission under both Item 2.02 and Item 7.01 of this Form 8-K.</font></p>
<p align="left"><font size="2" face="serif">On April 18, 2006, Sandy Spring Bancorp, Inc. issued a news release regarding its results of operations and financial condition for the quarter ended March 31, 2006. The text of the press release is included as Exhibit 99 to this report. The Company will include final financial statements and additional analyses as part of its Form 10-Q for the quarter ended March 31, 2006.</font></p>
<p align="left"><font size="2" face="serif">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&#146;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.</font></p>
<p align="left"><font size="2" face="serif"><b>Item 9.01 Financial Statements and Exhibits.</b></font></p>
<p align="left"><font size="2" face="serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial statements of businesses acquired. Not applicable.</font><br>
<font size="2" face="serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pro forma financial information. Not applicable.</font><br>
<font size="2" face="serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits. Exhibit 99-News Release dated April 18, 2006.</font></p>
<p align="center"><font size="2" face="serif">Signatures</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</font></p>
<div style="margin-left: 45%">
  <p align="left"><font size="2" face="serif">SANDY SPRING BANCORP, INC.</font><br>
      <font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: <u>/s/ Hunter
      R. Hollar</u></font><br>
      <font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hunter
      R. Hollar </font><br>
      <font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President
      and</font><br>
      <font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</font></p>
          </div>
<p align="left"><font size="2" face="serif">Dated: April 18, 2006</font></p>
<hr noshade align="center" width="100%" size="2">
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "b412785_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 6718}]
{"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": "06765403"}, "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"}}
Prepared and filed by St Ives Financial
UNITED STATES
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 18, 2006
SANDY SPRING BANCORP, INC.
(Exact name of registrant as specified in its charter)
Maryland
(State or other jurisdiction
of incorporation)
000-19065
(Commission file
number)
52-1532952
(IRS Employer
Identification No)
17801 Georgia Avenue, Olney, Maryland  20832
(Address of Principal Executive Offices)     (Zip Code)
Registrant's telephone number, including area code:  (301) 774-6400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition.
Item 7.01 Regulation FD Disclosure.
The following information is furnished to the Securities and Exchange Commission under both Item 2.02 and Item 7.01 of this Form 8-K.
On April 18, 2006, Sandy Spring Bancorp, Inc. issued a news release regarding its results of operations and financial condition for the quarter ended March 31, 2006. The text of the press release is included as Exhibit 99 to this report. The Company will include final financial statements and additional analyses as part of its Form 10-Q for the quarter ended March 31, 2006.
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.
Item 9.01 Financial Statements and Exhibits.
(a)      Financial statements of businesses acquired. Not applicable.
(b)      Pro forma financial information. Not applicable.
(c)      Exhibits. Exhibit 99-News Release dated April 18, 2006.
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 18, 2006