Sandy Spring Bank

Headquarters

17801 Georgia Avenue
Olney, MD 20832
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 1.05% →
1-Year CD 0.20% 1.05% →
2-Year CD 0.25% 1.11% →
5-Year CD 0.45% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Sandy Spring Bank is an FDIC insured institution located in Olney, MD. It was founded in 1900 and has approximately $8.92 billion in assets. Customers can open an account at one of its 65 branches.

FDIC Insured Yes
FDIC Certificate # 4865
Date Established 1900
Assets $ 8.92 billion
Loans $ 6.70 billion
Deposits $ 6.65 billion
Capital $ 1,253.08 million
 

For a more detailed analysis of Sandy Spring Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - August 12, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $2,500 $4,999 Learn More
Money Market
0.03% $2,500 $2,999 Learn More
Money Market
0.03% $10,000 $14,999 Learn More
Money Market
0.03% $25,000 $29,999 Learn More
Premium Money Market Account
0.05% $10,000 $14,999 Learn More
Premium Money Market Account
0.05% $25,000 $34,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $10,000 $14,999 Learn More
3 Mo CD
0.05% $100,000 $199,999 Learn More
6 Mo CD
0.15% $10,000 $14,999 Learn More
6 Mo CD
0.15% $100,000 $199,999 Learn More
Special: 7 Mo CD
0.40% $2,500 $10,000,000 Learn More
12 Mo CD
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.20% $100,000 $199,999 Learn More
Special: 13 Mo CD
0.05% $5,000 $24,999 Learn More
Special: 13 Mo CD
0.15% $25,000 - Learn More
Special: 16 Mo CD
0.45% $2,500 $10,000,000 Learn More
18 Mo CD
0.25% $10,000 $14,999 Learn More
18 Mo CD
0.25% $100,000 $199,999 Learn More
24 Mo CD
0.25% $10,000 $14,999 Learn More
24 Mo CD
0.25% $100,000 $199,999 Learn More
30 Mo CD
0.30% $10,000 $14,999 Learn More
30 Mo CD
0.30% $100,000 $199,999 Learn More
36 Mo CD
0.30% $10,000 $14,999 Learn More
36 Mo CD
0.30% $100,000 $199,999 Learn More
48 Mo CD
0.35% $10,000 $14,999 Learn More
48 Mo CD
0.35% $100,000 $199,999 Learn More
60 Mo CD
0.45% $10,000 $14,999 Learn More
60 Mo CD
0.45% $100,000 $199,999 Learn More

Fixed IRA Rates APY MIN MAX
Special: 7 Mo FIRA
0.40% $2,500 $10,000,000 Learn MoreShow Less
Special: 13 Mo FIRA
0.05% $5,000 $24,999 Learn MoreShow Less
Special: 13 Mo FIRA
0.15% $25,000 - Learn MoreShow Less
Special: 16 Mo FIRA
0.45% $2,500 $10,000,000 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.03% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.03% $1 $99 Learn MoreShow Less
Int Ckg
0.03% $2,500 $3,499 Learn MoreShow Less

Loan Rates - August 12, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 3.99% 3.99% $737.99
4 Year 3.99% 3.99% $564.36
5 Year 3.99% 3.99% $460.30

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Sandy Spring Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Sandy Spring Bank Locations


Financial Details

Sandy Spring Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Sandy Spring Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Sandy Spring Bank U.S. Bank Average
3.94% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Sandy Spring Bank had $51,383,000 in non-current loans and $1,416,000 in owned real estate. To cover these potential losses it had $1,253,077,000 in equity and $85,801,000 in loans loss reserves. That gives it a Texas Ratio of 3.94%.

Return on Equity
Sandy Spring Bank U.S. Bank Average
3.79% 7.80%

Sandy Spring Bank has a Return on Equity of 3.79% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Sandy Spring Bank U.S. Bank Average
14.05% 12.68%

Sandy Spring Bank has a Capitalization of 14.05% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Sandy Spring Bank Balance Sheet Analysis

As of March 31, 2020, Sandy Spring Bank had assets of $8,917,838,000, loans of $6,704,305,000, and deposits of $6,646,726,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 260.98 million
Interest-bearing balances $ 181.79 million
Total securities $ 1,178.33 million
Federal funds sold and reverse repurchase $ 0.13 million
Net loans and leases $ 6.70 billion
Loan loss allowance $ 85.80 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.42 million
Goodwill and other intangibles $ 389.07 million
All other assets $ 259.64 million
     Total Assets $ 7.66 billion
LIABILITIES
Total deposits $ 6.65 billion
      Interest-bearing deposits $ 4.71 billion
      Deposits held in domestic offices $ 6.65 billion
      % insured (estimated) 56.26%
Federal funds purchased and repurchase agreements $ 125.57 million
Trading liabilities N.A.
Other borrowed funds $ 754.06 million
Subordinated debt N.A.
All other liabilities $ 138.41 million
      Total Liabilities $ 7.66 billion
      Shareholders’ Equity $ 1,253.08 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 83.72 million
Total Interest Expense $ 17.37 million
Net interest income $ 66.35 million
Provision for loan and lease losses $ 24.47 million
Total non interest income $ 17.97 million
Total non interest expense $ 47.38 million
Pre-tax Net Operating Income $ 12.47 million

Bank Loan Profile?

The top three loan types in Sandy Spring Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Construction and Development Loans.

Compared to other banks in Maryland, Sandy Spring Bank has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 28.10
Multifamily
Mortgages
4.62
Credit Card Loans 0.00
Consumer Auto Loans 0.07
Small Business Loans 6.27
Construction and Development Loans 13.16
Commercial Real Estate 44.69
Commercial and Industrial Loans 9.39
Farm Loans 0.00

Frequently Asked Questions About Sandy Spring Bank

Branches and Savings

Is Sandy Spring Bank FDIC insured?

Yes. It is covered under FDIC Certificate #4865.

Why does Sandy Spring Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Sandy Spring Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Sandy Spring Bank a commercial bank?

Yes

Where are Sandy Spring Bank locations?

See branch locations nearby.

Is Sandy Spring Bank open on Saturdays?

Is Sandy Spring Bank open on Sundays?

What time does Sandy Spring Bank open?

What time does Sandy Spring Bank close?

Are Sandy Spring Bank ATMs Open 24/7?

Do Sandy Spring Bank ATMs accept cash deposits?

Can Sandy Spring Bank customers use other ATMs?

Do Sandy Spring Bank branches have notaries?

Will Sandy Spring Bank notarize my document?

What address for Sandy Spring Bank should I put for incoming ACH transfers?

Will the Sandy Spring Bank branch print checks?

Do Sandy Spring Bank checks expire?

Does Sandy Spring Bank require US citizenship to open account?

Can Sandy Spring Bank close my account?

Does Sandy Spring Bank Report to credit bureaus?

Does Sandy Spring Bank Use Equifax?

What is Sandy Spring Bank's ACH Routing Number?

What is Sandy Spring Bank's SWIFT code?

Products

Does Sandy Spring Bank offer mortgages?

Compare mortgage rates here.

Does Sandy Spring Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Sandy Spring Bank offer personal loans?

Compare personal loan rates here.

Does Sandy Spring Bank offer student loans?

Will Sandy Spring Bank cash a check?

Will Sandy Spring Bank redeem a savings bond?

Does Sandy Spring Bank cash savings bonds?

Will Sandy Spring Bank cash money orders?

Can Sandy Spring Bank issue a money order?

Does Sandy Spring Bank do currency exchange?

Background on The Bank

Who owns Sandy Spring Bank?

How long has Sandy Spring Bank been around?

Can Sandy Spring Bank transfer to other banks?

Does Sandy Spring Bank have quick pay?

Does Sandy Spring Bank accept rolled coins?

Will Sandy Spring Bank accept loose change?

Where is Sandy Spring Bank headquarters?

Customer Reviews for Sandy Spring Bank


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