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): March
10, 2008
SANDY
SPRING BANCORP, INC.
(Exact
name of registrant as specified in its charter)
|
Maryland
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000-19065
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52-1532952
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|
(State
or other jurisdiction
of
incorporation)
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|
(Commission
File Number)
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(IRS
Employer
Identification
No.)
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17801
Georgia Avenue, Olney, Maryland 20832
(Address
of principal executive offices, including zip code)
Registrant’s
telephone number, including area code: (301) 774-6400
Not
Applicable
(Former
name or former address, if changed since last report)
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
4.01 Changes
in Registrant’s Certifying Accountant
On
March
10, 2008, Sandy Spring Bancorp, Inc. (the “Company”) dismissed McGladrey &
Pullen LLP (“McGladrey”), which had previously served as independent auditors
for the Company. The reports of McGladrey on the consolidated financial
statements of the Company as of and for the fiscal years ended December 31,
2007
and December 31, 2006 contained no adverse opinion or disclaimer of opinion
and
were not qualified or modified as to uncertainty, audit scope, or accounting
principles. The change in independent auditors was recommended by the Company’s
Audit Committee and approved by the Company’s Board of Directors. In connection
with its audit for the fiscal years ended December 31, 2007 and 2006 and in
the
interim period from January 1, 2008 through March 10, 2008, there were no
disagreements with McGladrey on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure,
which
disagreements, if not resolved to the satisfaction of McGladrey, would have
caused McGladrey to make reference to such disagreements in its report on the
consolidated financial statement for such years.
The
Company also terminated McGladrey’s client-auditor relationship with the Sandy
Spring Bancorp, Inc. Cash and Deferred Profit Sharing Plan.
McGladrey
has
provided the Company with a copy of McGladrey’s
letter
addressed to the Securities and Exchange Commission stating that McGladrey
agrees
with the disclosures made by the Company in response to Item 304(a) of
Regulation S-K. A copy of McGladrey’s
letter
is filed as Exhibit 16.0 and incorporated in this Item 4.01(a) by
reference.
Item
9.01 Financial
Statements and Other Exhibits.
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|
Exhibit
16.0 |
Letter
of Concurrence from McGladrey
& Pullen LLP
Regarding Change in Certifying
Accountant
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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.
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SANDY
SPRING BANCORP, INC.
(Registrant)
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| Date:
March 12, 2008 |
By: |
/s/
Hunter R. Hollar |
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Hunter
R. Hollar |
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President
and Chief Executive Officer |