OLNEY, Md., Aug. 26 MD-SandyBancorp-elect
OLNEY, Md., Aug. 26 /PRNewswire-FirstCall/ -- Sandy Spring Bank, the
principal subsidiary of Sandy Spring Bancorp Inc. (Nasdaq: SASR), announced
that Jeffrey A. Welch has been hired as Executive Vice President and Chief
Credit Officer and William W. Hill has been promoted to Executive Vice
President of the Commercial Banking Group.
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Mr. Welch has taken on the role of Chief Credit Officer from Daniel J.
Schrider who was appointed President and Chief Revenue Officer by the board of
directors in March. Welch has over 25 years of experience in the financial
services industry specializing in commercial lending, credit risk management,
and credit policy primarily for large regional banks operating in the local
area. He has also worked as a consultant to area banks in credit risk
management. "I am very excited to have someone of Jeff's experience and
background on our team. He brings a great deal of expertise in credit
management as well as knowledge of the local market," said Schrider.
William W. Hill joined Sandy Spring Bank in May 2003 as a leader in the
commercial relationship management division. With over 30 years in commercial
lending, Hill has been highly successful in expanding Sandy Spring's
commercial lines of business to include sophisticated treasury management
services and middle market lending. Mr. Schrider said, "Sandy Spring Bank is
in an excellent position to serve small and mid-sized businesses in our
market, and our strategy is to expand this area further. Bill is a proven
leader in our company, and he will be in charge of executing this strategy
within our commercial banking group."
Chairman and CEO Hunter R. Hollar commented, "Sandy Spring Bank has a
strong reputation for outstanding loan quality, and during these turbulent
times in our industry having seasoned professionals like Jeff and Bill in
these key positions is critical." As previously announced Hollar will be
retiring at year end at which time Schrider is expected to be named CEO. "Dan
is building a strong management team as we continue smoothly through our
leadership transition," said Hollar.
About Sandy Spring Bancorp/Sandy Spring Bank
With $3.2 billion in assets, Sandy Spring Bancorp is the holding company
for Sandy Spring Bank and its principal subsidiaries, Sandy Spring Insurance
Corporation, The Equipment Leasing Company and West Financial Services, Inc.
Sandy Spring Bancorp is the second largest publicly traded banking company
headquartered in Maryland. Sandy Spring is a community banking organization
that focuses its lending and other services on businesses and consumers in the
local market area. Independent and community-oriented, Sandy Spring Bank was
founded in 1868 and offers a broad range of commercial banking, retail banking
and trust services through 42 community offices in Anne Arundel, Carroll,
Frederick, Howard, Montgomery, and Prince George's counties in Maryland, and
Fairfax and Loudoun counties in Virginia. Through its subsidiaries, Sandy
Spring Bank also offers a comprehensive menu of leasing, insurance and
investment management services. Visit www.sandyspringbank.com to locate an ATM
near you or for more information about Sandy Spring Bank.
SOURCE Sandy Spring Bancorp
