<html>
<head><title>
Prepared and filed by St Ives Financial
</title>
</head>
<body bgcolor="#FFFFFF">
<page>

<p align="center">
<b><font face="serif">UNITED STATES </font></b>
<br>

<b><font face="serif">SECURITIES AND EXCHANGE COMMISSION </font></b>
<br>

<font face="serif">Washington, DC 20549 </font>
</p>
<p align="center">
<b><font face="serif">FORM 8-K </font></b>
</p>
<p align="center">
<font face="serif">CURRENT REPORT </font>
</p>
<p align="center">
<font size="2" face="serif">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </font></p>
<p align="center"><font size="2">

  <font face="serif">Date of Report (Date of earliest event reported): July 18, 2006</font></font><font face="serif"> </font>
</p>
<p align="center">
<b><font face="serif">SANDY SPRING BANCORP, INC. </font></b>
<br>

<font size="2" face="serif">(Exact name of registrant as specified in its charter) </font>
</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="center">
    <td width="33%"><font size="2" face="serif">Maryland</font></td>
    <td width="33%"><font size="2" face="serif">000-19065</font></td>
    <td><font size="2" face="serif">52-1532952</font></td>
  </tr>
  <tr align="center">
    <td><font size="2" face="serif">(State or other jurisdiction<br>
    of incorporation)    </font></td>
    <td><font size="2" face="serif">(Commission file<br>
    number)    </font></td>
    <td><font size="2" face="serif">(IRS Employer<br>
    Identification No)    </font></td>
  </tr>
</table>
<p align="center">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size="2" face="serif">17801 Georgia Avenue, Olney, Maryland 20832<br>
(Address of Principal Executive Offices) (Zip Code) </font>
</p>
<p align="center"><font size="2">
<font face="serif">Registrant's telephone number, including area code: (301) 774-6400 </font></font>
</p>
<p><font size="2">
<font 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></font>
</p>
<p><font size="2">
<font face="serif"> <img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></font>
</p>
<p><font size="2">
<font face="serif"> </font><font size="2"><font face="serif"> <img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;</font></font><font face="serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></font>
</p>
<p><font size="2"> <font face="serif"> <img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;</font><font face="serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></font>
</p>
<p><font size="2"> <font face="serif"> <img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;</font><font face="serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></font>
</p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page> <a name="p?"></a>
<p>&nbsp;</p>
<table width="100%" border=0 cellspacing=0 cellpadding=0>
<tr>
   <td valign="top" colspan="2"><font size="2"><b><font face="serif">Item 2.02. Results of Operations and Financial Condition. Item 7.01 Regulation FD Disclosure.</font></b></font></td>
</tr>
<tr>
  <td valign="top" colspan="2">&nbsp;</td>
</tr>
<tr>
   <td valign="top" colspan="2"><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></td>
</tr>
<tr>
  <td valign="top" colspan="2">&nbsp;</td>
</tr>
<tr>
   <td valign="top" colspan="2"><font size="2" face="serif">On July 18, 2006, Sandy Spring Bancorp, Inc. issued a news release regarding its results of operations and financial condition for the quarter ended June 30, 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 June 30, 2006.</font></td>
</tr>
<tr>
  <td valign="top" colspan="2">&nbsp;</td>
</tr>
<tr>
   <td valign="top" colspan="2"><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></td>
</tr>
<tr>
  <td valign="top" colspan="2">&nbsp;</td>
</tr>
<tr>
   <td valign="top" colspan="2"><font size="2"><b><font face="serif">Item 9.01 Financial Statements and Exhibits.</font></b></font></td>
</tr>
<tr>
  <td valign="top">&nbsp;</td>
  <td valign="top">&nbsp;</td>
</tr>
<tr>
   <td valign="top" width="3%"><font size="2" face="serif">(a)</font><font size="2">&nbsp;&nbsp;</font></td>
   <td valign="top"><font size="2" face="serif">Financial statements of businesses acquired. Not applicable.</font></td>
</tr>
<tr>
   <td valign="top" width="3%"><font size="2" face="serif">(b)</font><font size="2">&nbsp;&nbsp;</font></td>
   <td valign="top"><font size="2" face="serif">Pro forma financial information. Not applicable.</font></td>
</tr>
<tr>
   <td valign="top" width="3%"><font size="2" face="serif">(c)</font><font size="2">&nbsp;&nbsp;</font></td>
   <td valign="top"><font size="2" face="serif">Exhibits. Exhibit 99-News Release dated July 18, 2006.</font></td>
</tr>
<tr>
  <td valign="top" colspan="2">&nbsp;</td>
</tr>
<tr align="center">
   <td colspan="2" valign="top"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font face="serif">Signatures</font></font></td>
</tr>
<tr>
  <td valign="top" colspan="2">&nbsp;</td>
</tr>
<tr>
   <td valign="top" colspan="2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font face="serif">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></font></td>
</tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%">&nbsp;</td>
    <td colspan="2"><font size="2" face="serif">SANDY SPRING BANCORP, INC.</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">By:</font></td>
    <td><font size="2" face="serif"><u>/s/ Hunter R. Hollar</u></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">Hunter R. Hollar</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">President and</font></td>
  </tr>
  <tr>
    <td><font size="2" face="serif">Dated: July 18, 2006</font></td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">Chief Executive Officer</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<hr noshade align="center" width="100%" size=2>

</body>

</html>
[{"type": "8-K", "sequence": "1", "filename": "b414062_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 8149}]
{"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": "06967277"}, "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): July 18, 2006
SANDY SPRING BANCORP, INC.
(Exact name of registrant as specified in its charter)
Maryland
000-19065
52-1532952
(State or other jurisdiction
of incorporation)
(Commission file
number)
(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 July 18, 2006, Sandy Spring Bancorp, Inc. issued a news release regarding its results of operations and financial condition for the quarter ended June 30, 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 June 30, 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 July 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
Dated: July 18, 2006
Chief Executive Officer