Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SMALL FRANK H
  2. Issuer Name and Ticker or Trading Symbol
SANDY SPRING BANCORP INC [SASR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President of th
(Last)
(First)
(Middle)
SMALL, FRANK H., 17801 GEORGIA AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
12/15/2004
(Street)

OLNEY, MD 20850
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               2,897 I 401K
Common Stock               74 I By Wife
Common Stock               147 I Employee Stock Purchase Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to buy) $ 11.09             12/18/1996 12/18/2006 Common Stock 2,250   2,250 D  
Stock Options (Right to buy) $ 12.33             12/20/1995 12/20/2005 Common Stock 3,000   3,000 D  
Stock Options (Right to buy) $ 14.54             12/13/2000 12/13/2010 Common Stock 12,001   12,001 D  
Stock Options (Right to buy) $ 16.42             12/17/1997 12/17/2007 Common Stock 4,500   4,500 D  
Stock Options (Right to buy) $ 17.21             12/15/1999 12/15/2009 Common Stock 6,750   6,750 D  
Stock Options (Right to buy) $ 20.33             12/16/1998 12/16/2008 Common Stock 2,250   2,250 D  
Stock Options (Right to buy) $ 31.25             12/11/2002 12/11/2012 Common Stock 8,350   8,350 D  
Stock Options (Right to buy) $ 32.25             12/21/2001 12/21/2011 Common Stock 6,400   6,400 D  
Stock Options (Right to buy) $ 38 12/15/2004   A   11,250   12/15/2004 12/15/2014 Common Stock 11,250 $ 0 11,250 D  
Stock Options (Right to buy) $ 38.91             12/17/2003 12/17/2013 Common Stock 10,325   10,325 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SMALL FRANK H
SMALL, FRANK H.
17801 GEORGIA AVENUE
OLNEY, MD 20850
      Executive Vice President of th  

Signatures

 /s/ Theresa A. Cornish by POA   12/17/2004
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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